The AI Wealth Creation Blueprint PDF
The AI Wealth Creation Blueprint PDF
Introduction
Data is the lifeblood of the digital age. The most successful companies of the 21st
century all put data firmly at the centre of their business.
Since the event industry increased use of virtual and hybrid event technology and 365
community engagement, the number of data points on each participant has increased by
a factor of 20. These new business models have created a far more data rich environment.
In the words of one of our contributors, when you strip it right back event organisers
only have three things: "Their venue contract, their brand and their data."
So it’s perhaps unsurprising that an overwhelming 97% of event organisers agree that
taking control of their data is a critical first step to controlling your destiny.
But what next? How can a savvy organiser extract value from this data?
In this ebook we have interviewed a range of industry experts to dig into these
challenges and opportunities, and to provide their practical advice about how
to re-invent their business.
Luke Bilton
Chief Growth Officer, ExpoPlatform
Thank you to all our interviewees, including Paul Miller, Liz Irving, Gunnar Heinrich,
Stephan Forseilles, Stuart Ledden, Mark Parsons, Mark Maydon, Mark Brewster, Laura
Davidson and Elsbeth Kottelenberg and all who completed our survey.
Unlocking the power of data can have a transformative effect on a company’s success.
We have interviewed leading exhibition organisers to better understand the ways data
science can make an impact on events businesses.
• Connecting data sources and providing a seamless experience across the customer
journey are two areas that would make a positive impact - 65% and 59% respectively.
(ROI) was chosen by 49%. While leads are important, finding new ways to sell data to
exhibitors is of lowest importance.
I do think the industry on the whole is full of very smart people who will find a way.
I think there'll be some big winners and some losers along the way, like there is with
any kind of change.
Some of it I think is going to hurt us. Some of it if you get it right is going to be very
beneficial.
There are so many outsiders of our industry linked to data: Alibaba, Facebook with
Metaverse. Organisers need to make sure they are in the driver's seat, driving their
community.
In this ExpoPlatform dashboard, supply can be tracked against demand from the visitor
community. It is measured by the number of products and exhibitors in a category. High
demand and low supply could indicate a sales opportunity, while poor demand and high
supply could indicate your exhibitors are not going to have a productive event and
the visitor acquisition strategy should shift.
“ Every product manager needs the product attributes at his hand to develop
the product further over the lifecycle and the instances of a product. Behavioural
information, not just what they registered with, is important to understand to move
your product forward meaningfully.
Gunnar Heinrich gave an example of how an agricultural fair may have attendees who
say they are interested in corn, but their behaviour indicates they want rice. This could
be down to a number of reasons including a new demographic within your audience.
Organisers have several options then to develop their shows using this data.
“ If you have all this information you can manage spin offs, or mergers or you can
make better decisions about whether you buy another company in this segment.
Gunnar Heinrich
CEO of adventics
I was always taught to ask for the why behind the why – for example: why is it
important that something works or fails? Is it business critical? The answer to that is
the title of your sessions.
Trend research: What are people searching for, reading and downloading online or
on your website? These are the themes and topics for your next event.
Elsbeth Kottelenberg
Head of Data and Insights at Jaarbeurs
Conference themes and topics: It is very important to dive in deeper with qualitative
research - interviews with visitors, exhibitors and key thought leaders - to find out
exactly what, how, who and most importantly why.
Jaarbeurs is planning to integrate a customer data platform to get better insight into its
target audience, based on what they say their interests are and based on their
behaviour - online and onsite.
I can imagine that this will help us to redesign floor plans, because we connect
location data from our beacons and app and understand the onsite journey better.
“ People have got certain interests and are part of certain trends.
It’s important to have an ability to slice and dice and look at things in clusters
to learn what your audience is interested in.
That's the big data lens, it’s the core competency of what an organiser needs
to be doing.
That's how you find your next show, that's how you find your next growth pocket.
Mark Parsons
Founder of Events Intelligence
Seamless experience
Event professionals rank this as very high in importance. The omnichannel experience
should be a seamless transition from community to event and back again. This works
better both for customers as they don't have to jump between platforms, while
organisers can also progressively build richer profiles of the audience. It means they can
start to offer increasingly personalised products and recommendations.
Hybrid Event
Physical Event Virtual Event
Webinar
Webinar
Jan feb mar apr m ay jun jul aug sep oct nov Dec jan feb mar APR M AY JUN JUL AUG SEP NOV Dec
Whether visitors are engaging online or offline, it is important to have a unified profile.
Stephan Forseilles
Head of Technology at Easyfairs
Create one profile which is the same for online and onsite.
Everything you do online and anything you do onsite all ends up in the same place.
That means the people you interact with can be online or be onsite.
But it all happens on the same platform and you can decide to share your
profile across different events.
It always starts with the customer first - your stakeholders, your target audiences.
Understand what their needs are, understand what they want to see and how they
want to see it, then go and help create it.
One of the things I've learned over the last 18 months is it always has to be
about what the customers want or what your market needs.
The great thing with digital is you have immediate results, you're not
waiting until after the show - you actually have that data at your fingertips
and you can improve as you go and be dynamic in your approach.
It’s how Spotify makes 70 million tracks into a playlist of songs you might like, it’s how
Tinder can turn 57 million people into a list of potential dates or Amazon can transform
350 million products into targeted recommendations.
This technology can be used to turn a large-scale event into something highly relevant
and personalised, providing focused recommendations for better, higher quality
experiences for visitor and exhibitor alike.
It means an organiser can cut out the randomness of an event and maximise the most of
a user’s time at the show.
“
Attendees and visitors have recognised the value of their own time.
We're going to find that people are going to attend live events with the same kind
of mentality - they’re here to do something specific.
Stuart Ledden
Tarsus Group Marketing Director
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30
15
+12%
10 +16%
Mark Maydon
Director at Crowd Connected
It's no longer just about mapping, wayfinding and navigation - it’s about discovering.
It helps you find what you came for and discover what you didn't know was there.
We're helping the organisers by taking all of that footfall data and
delivering it back via the organiser to the exhibitors.
The customers then have evidence of how well they performed at the show.
As with any data it’s important to separate signal from noise.
Mark Maydon
Director at Crowd Connected
That’s why technologies are being developed where historically disparate data sets
are being joined up.
This allows for key profiles to be targeted to find out how they are behaving
at an event - identifying the big spenders, not the time wasters.
Paul Miller
Questex CEO
There’s maybe a clown juggling on someone's booth and all of a sudden it's
a hotspot for 20 minutes.
I'm more interested in whether someone spent 20 minutes at the IBM booth -
that's much more interesting to me.
That opens up a whole layer of discussion of how you can work the show better,
how we price the positions of the show.
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2 Curology Exhibitor
Interactions with
advertising and popups
Connections made
online and at show
A top concern for event professionals is that return on investment is made clear and
transparent to exhibitors. There are a couple of factors driving this:
- Proving the quality. At a time when trade shows are expected to have a lesser quantity
of visitors, being able to demonstrate the quality of visitors is key.
- Rising expectations of digital marketing. The last two years of the pandemic have
accelerated digital marketing in all industries. Marketers now expect to see detailed
metrics about how their campaigns have performed.
Products
Exhibiting companies
Content types such as sessions
News and webinars
Visitor Product
product Categories
Category A Category A
Category b Category b
Category C Category C
Category D Category D
Registration data
2. behaviour
The matching algorithm is initialised using registration data, learning more over time
based on user behaviour
Whenever a person interacts in any way with any object, their interests get updated.
This includes viewing pages - news, exhibitors, product profiles favouriting, requesting
a meeting, sending a message, viewing a session, rejecting a match and more.
The system detects peer groups based on similarity of registration data and
demographic information.
Objects that gather a lot of interest from the peer group are more likely to appear
to others in the group who have not yet reacted to them. This is especially useful in cases
where little interaction data is available about a person and their peer’s interests may
prove to be more accurate than what they’ve ticked in their product category preferences.
Bringing all of that together is when we get a lot of traffic and stickiness on the platforms.
Mykyta Fastovets
Chief Technology Officer, ExpoPlatform
“ It’s about being able to let exhibitors concentrate their efforts in marketing and
spending time seeing the right person.
An exhibitor on an event of two days may see 100 different people, but out of these
only 10 may be really interesting.
What if you could say ‘instead of spending 10 minutes with someone, you can spend
one hour with each of the 10 people who are a much better use of your time’.
Stephan Forseilles
Head of Technology at Easyfairs
There are a number of key metrics which our industry can pursue to help create events
of the future.
The survey asked respondents to identify the metrics which are most important for
the future of their business.
• Proof of ROI and return on time is the main priority for the event industry, with 44%
of responses. Organisers want to understand “the amount of business done” and any
data points that indicate the value an exhibitor has received such as quantity and
quality of connections, meetings, RFIs.
• Net Promoter Score (NPS) is still relevant, even though it is a lagging metric. NPS
score should be top left of your dashboard.
Other 6.3%
NPS 12.5%
A key part of making a success in this area comes through knowing what you are trying
to achieve.
This means you align KPIs with your corporate strategy - if you want to grow in Asia you
need a measurement for that.
The real art is to work on these 20 KPIs - what are the really important numbers for
you and your business?
These numbers must be derived from your corporate strategy. It's super important
that you think about the right KPIs - and not having 100 different numbers.
How many meetings moved the buyer along the journey from discovery to
making a buying decision?
Did someone make a purchase at the show? Was that purchase bigger,
smaller or the same as last year? Did someone make more purchases in this
show than at other shows?
Where did those buyers go next for content? What sort of content
are they reading?
Did an attendee see the people they needed to? How many networking
incidents happened at the show?
How many discussions took place? How many of those were either
serendipitous or planned?
How was the show experience beyond business - food, drink, entertainment?
Data-driven marketing opens up new channels for reaching potential customers. You can
use the information from your current audience to define a target demographic - that can
be by job title, sector or numerous other characteristics.
We asked the experts for their advice on how better data handling can be used to acquire
new audiences. Here’s what they had to say:
Stuart Ledden
Tarsus Group Marketing Director
It's allowing you to get outside of the pool of potential customers that you tend to
spend a lot of time with into those new areas.
An event planner can follow the data to reveal what their target
demographic is looking for and what they are most interacting with.
They need to use content to do that, give their audience something useful and then
they are starting from a strong position to market their event, digital product
and more.
They need to be using machine learning to show the right ad, at the right time,
to the right user and make sure of the 5,000 other data points that ad tech captures
on every user.
Use things like target cost per acquisition bidding to ensure you are building data
at a cost that works for your business.
All of these seed audiences can then be fed into advertising platforms to create similar
groups so you can then grow your networks and potential audiences. These demographics
must be split out into relevant data sets as opposed to combining them. Ensure the
audiences are all over 1,000 users then think about a metric that makes sense to your new
targets, such as CTR or engagement rate. This will give you information on how well they
are engaging with your content.
Laura added that it was important to “make sure that any campaigns you are
running are split into a funnel based approach”.
This is because users can be pushed down this and then they will convert
at the bottom for your required action.
Stephan Forseilles
Head of Technology at Easyfairs
For the past 10 years, doing marketing for an event has been sending as many
emails as you could - but those days are gone.
You have to optimise your marketing to be multichannel and be able to track people
across different channels - which is not always easy, especially when you're dealing
with B2C versus B2B world.
Have an intelligent data platform that can actually tell you an area where you can
optimise your costs and be more intelligent in where you spend money.
Rebooking rates for exhibitors are a standard metric in our industry so the level
at which people keep coming back to a show should be too.
You as an organiser will manage to build a loyal fanbase which is certain to turn up and
please exhibitors who are investing in space.
This is another area where a data team can be used to measure what has been
successful with those who do come back to an event.
Stephan said: “The pond in which we fish is not infinite and the strategy to say we will
always acquire new visitors and not make efforts to retain the old one is a
shortsighted strategy.
“At some point you're going to run out of new visitors to address, but also considering
that acquiring a visitor is much more expensive than keeping an existing one.”
A whopping 97% of exhibition organisers say it’s very important to take control
of their data.
That is a major example of its value amid the explosion of digital options for events.
With such a massive amount of data being generated, questions arise over ownership
and control of this data, whether that sits with the organiser or with the event
technology platform.
80.00%
75.68%
60.00%
40.00%
21.62%
20.00%
2.70%
0.00% 0.00%
0.00%
Not important Low importance Average importance Very important Greatest importance
A whopping 97% of exhibition organisers told our survey it’s very important to take
That is a major example of its value amid the explosion of digital options for events.
More data is being generated now than ever before, meaning there have been questions
over ownership and control of this data, whether that sits with the organiser or with
An UFI Connects session in December 2021 saw experts from world-leading planners
agree that this debate over control is over - it should lie with the planner.
This is important because there are broadly two event data models that technology
vendors are using:
The organiser controls the customer relationship and is the exclusive data controller
Organiser-led model
The organiser-led model, the event organiser controls the attendee data, with the
technology platform being the ‘processor of data’ as long as the contract lasts. This is
similar to how registration companies have worked, and generally considered to be in
the best interest of the organiser.
MULTIPLE
users vendor organisers
The vendor controls the customer relationship and can share with other third parties
Vendor-led model
Meanwhile, the vendor-led model has led to concerns among event industry players,
where the event tech platform co-controls the data and so will not delete it if requested
by the organiser.
Gunnar Heinrich
CEO of adventics
If you allow other parties to use this data for their own purposes, you throw away
your most important assets - it's super shortsighted.
You need this information to shape your product for the future, to be more
profitable, to build even closer relationships with your market participants
over the time - so they can't afford to not be with you - and it's a long lasting
partnership, which gets stronger and stronger over the years.
Data is king there, to be stronger in the future and to avoid being irrelevant.
Stephan Forseilles
Head of Technology at Easyfairs
We don't want all our data collected at our events on the platform that we have paid
for to serve a competitor.
That competitor can be another tradeshow, but it can also be the platform itself if it
one day decides to create community events or things like that online.
We don't want this data to be used by the platform to make their algorithm better -
even in an anonymised way.
Because that would increase the experience of our competitors that use
the same platforms - using our data to train an algorithm.
It's like hiring someone, spending six months training them in organising trade
shows and then they go work for a competitor - it's exactly the same thing.
Mark Brewster
CEO of Explori
It’s absolutely critical that an organiser has control and they have demonstrated
that recently.
There’s evidence by their choices around which platforms to use and pushback
against the platforms that don’t offer them data ownership terms that they’re
satisfied with.
I don’t blame them for that, the data is the big asset in this business model,
particularly if it’s really utilised well.
This abundance of data isn’t all about opportunity - there are challenges to using it
correctly. Organisers told us where they believe the biggest hurdles to making a success
of this information are. But do not fear - our experts have helped us to guide you through
overcoming them and making a success from the data.
1 Getting the data foundation right is by far the single greatest issue for event
professionals, with over half of responses.
Making sure the data from different sources is pulled into a unified database
is a major stumbling block to most of those interviewed.
The typical brand team structure of event organisers formed over the years
by acquisitions of different businesses, works against having a consistent
technology stack and unified approach.
3 Other challenges raised include finding meaningful insights in the data (15%).
Respondents commented about the need to “separate data from knowledge”
and to “design strategies so that the data obtained are useful in relation
to the growth and quality of the fair”.
4 Data privacy and security (6%) was an issue for a relatively small
number of respondents.
Security 6.1%
Insight 15.2%
Organisational
24.2%
issues
Members from more than 15 event organisations have grouped to develop a new
industry standard for digital events.
VSef is one such initiative designed to standardise how virtual event data is
standardised for easy interoperability.
The BPA Reporting Standards for Digital Events (RSDE) project also aims to create
a reporting framework for virtual shows to tackle the lack of standards for online.
The huge barrier to that is the lack of consistency, which is one of the reasons
Explori has led the VSef initiative - to get that consistency so there’s a common data
standard for the way that data is available to organisers.
So they can really act on those big opportunities to take what they do with customer
data to the next level.
She claims three years or three editions is the lifetime of how relevant data
can be from an event for analysis or marketing campaigns.
We’re dealing with databases that have a lot of old, irrelevant data such as double
records - they’re difficult to clean up.
I’ve now learned that there are tools out there that can help creating a new clean
database, while cleaning up the old: if a person registers, we locate it in our old
database, take the old record out and put everything we know about that person in
the new database.
After a while you can do a campaign on the old data, but at some point we will let it go.
The event industry is on a journey to extract more value from the data which
is being collected.
The data science hierarchy of needs (below) shows the tools and processes required,
starting with a foundation of well collected, organised data sets, before moving up
the pyramid to more advanced analytics, experimentation and AI models.
deep
learning
A/B testing,
learn/ optimise experementation, simple
ML algorithms
Our research reveals a split between organisers who don’t currently have a team for
data science compared with the other half who already have a team or are in the process
of recruiting.
It is important to consider the benefits of investing in this area when making a decision
about changing your company makeup.
The need for experts on your team has become increasingly important as the waves of
data grow higher and more frequent in today’s B2B sphere.
In some businesses that responsibility can be left up to one person: email designing, social
media monitoring, running PPC campaigns.
But these are all increasingly complex channels which need monitoring and interpreting.
That’s why organisers should seriously consider bringing in a person or team who
understands this language and is able to interpret it effectively.
Only 49% have done so or are actively recruiting a data science team
Stuart Ledden, Tarsus Group Marketing Director, believes this is crucial for
making the most of this valuable information source.
The data that comes back from those means you can't expect one person to do that.
Even if you don't have the resources for a multifaceted marketing team, you need
somebody there that is interpreting the knowledge that's coming back in from all
that activity.
The marketing manager can then create more effective campaigns and plan.
All information is in one place with “one version of truth” for creating KPIs
1. It acts as the core point of all of the data, so when we have to transfer data from
one system to another we have an easier way to do it.
If you're connected to the data lake, then you can get the data from there.
2. Almost all of our reporting has exclusively moved to that point. Everybody works
with the same version of the truth.
This is where we calculate all of our KPIs - it looks obvious, but it's not. If you
speak to five different organisers, or even five different event managers in the
same organisation, they could have five different ways of counting visitors.
Concentrating everything in one place where you have one definition of how to
calculate the number of visitors is actually a huge step forward in understanding
how the business works.
3. We have all the data to train our AI algorithms and we have a bunch of those
which run on the data lake. They have access to all the data from all the events we
have organised.
Bringing in a data expert is a starting point, but the fruits may take some time to develop.
This is because the effort in building a “data lake” which holds all of the information can
take some time.
It involves gathering touchpoints and behaviours which can be analysed to direct strategy.
“ Their role is to construct a team and an infrastructure over time. First you need the
team, then you need the infrastructure - but you also need all of the other systems in
your organisation to be able to send data to the data lake.
Stephan Forseilles
Head of Technology at Easyfairs
Digital behaviour is key in getting insights into what people are really interested in.
It goes back to following what your audience does, rather than simply what they say.
Examples could include analysing who they met, their online searches, topics read on
the emails, websites visited and products looked at.
This is about making sure the data available is sufficiently representative and correct -
“building and maintaining accuracy of data held”.
Companies like ExpoPlatform can help in the future because they prestructure all
the data for you and say this is the real truth.
Now you can profile your attendees much better and you can make more business
with this information.
Gunnar Heinrich
CEO, adventics
Paul Miller, CEO of Questex, told ExpoPlatform how he restructured his teams to allow
them to quickly react to trends they were seeing from data, introducing a focus on
internal “centres of excellence”.
The company wanted to break the “silo culture” and develop expertise so individual
teams can quickly share information about what has been working across
different shows.
This means for instance that content “best practices” sits in one group, as does product
development best practices, banners signage best practices, database best practices and
so on.
We believe that the initial thesis that there is a different way that communities
are going to engage going forward has been exposed completely by Covid-19 and
that it's correct.
I wanted to break the silo culture here, but that wasn't the only reason.
We stripped all of that away from the markets and said it's going to be
a centre of excellence.
Paul Miller
Questex CEO
Clarion Events
Clarion Events is another organiser which decided to adapt the skillset of its team so they
were in a strong position to make a success of the digital transformation of our industry.
Liz Irving, Executive Vice President, said they had to ensure they had what
they needed to be able to interpret the new data they were acquiring, but
also use it to improve a customer’s journey.
We've added new skill sets - with data, with digital skill sets, customer journey
mapping that is rounding out an already strong marketing team.
I think those are big things that we as event organisers have to leverage.
It's no longer that just running a multi-channel marketing plan, we also need to
augment our team to be much more data centric and be able to harness insights
and trends to deliver greater, more personalised results for our customers.
We have to really understand the customer journey and how to define it and
make it better every time.
We use a lot of our digital skill sets to help us get there so I think it's huge for us.
We have shown you the benefits of using this information in our industry. In this final
section, the experts tell us how to build a real case for a data-driven business.
Paul Miller
Questex CEO
Let your customers drive your strategy - stop thinking you know best, stop
thinking you're the only one that knows how to put on an event, stop
thinking that the classic barriers to entry of putting on live events are your
reason for being.
Gunnar Heinrich
CEO of adventics
It's much easier to talk to these kinds of people about what we can do with
digital strategy and monetising on data.
Mark Maydon
Director at Crowd Connected
If you're not making decisions built on data you're probably not making very good
decisions.
The best organisations in the world, the best operations in the world, are all
data-driven decision makers.
If you think about the really super valuable businesses that have been built
in the last 20 years - Google, Facebook or Meta, Apple and all those digital
businesses - they're all built on data.
Mark Maydon
Director at Crowd Connected
Those that do will win and those that don't will wither on the vine.
Liz Irving
Executive Vice President of Clarion Events
It's okay to not get it right the first time, the idea is that you want to try and
the more you truly understand what your customers want you can deliver and
iterate from there.
This is an area that we're still learning and you have to be a little risky by being OK
with not having all the answers.
It's okay to try but learn what's working - do more of it and where you see
something not working, or customers not engaging, move quickly to let it go.
We've done that over the last year, that's a hard thing personally to do
as a leader but what is so rewarding as you learn as you go.
You improve as a team but most of all you deliver new value to delight your
customers, providing the product they need.
A minimum viable product (MVP) is that version of a new product which allows a team
to collect maximum amount of validated learning about customers with the least effort.
Having launched an MVP in the market, organisers can test, learn from the user
feedback to iterate towards a better, more successful product.
LIKE THIS!
“ People are expecting this, everyone has less time to do more stuff.
They're expecting an experience that caters to their needs - the real value of an
event is bringing together the right components.
People expect things to be there and ready for them, so underestimate this at your
own peril because you will lose people to online B2B marketplaces where things
are ready for them.
They will go to whoever offers them an easier and faster experience - time is money.
Mykyta Fastovets
Chief Technology Officer, ExpoPlatform
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