Tuesday, 31 March 2015

How the Sharing Economy is Changing Events (or is it?)

Source : htp://www.socialscoremedia.com
Shared economy coupled with the twenty first century’s technologies is changing the norms. In every field, new ways of doing anything are appearing simply by sharing. It is said to be eco-friendly, sustainable and cost-saving. The long well established companies of each industries give dirty looks to the outsiders and their success. 
The law seem to be at a lost about what to do about it. Boundaries are generally blurry and each country or even city has its own advancement on the matter. Nonetheless, shared access economy is the next big thing to take into account while planning an event.

For one, innovations such as Airbnb and Uber which count million of users offer more options to travel and accommodate attendees to an event. Some more specific event-related platforms are emerging. Now you can share space, staff, decoration and save money. Even some traditional brands are joining these new actors: Mariott shares its spaces through LiquidSace. This all seem to work for the better to every stakeholder’s interests.

However, if we take a look at the big picture, industries are shaken and cautions are to be taken.  Indeed, thanks to internet and mobile technology sharing is more and more easy but due diligence will wonder about safety, quality and legal matter. Better vouching and user rating systems and applications may lower the event planner’s role, its knowledge no longer required to ensure the best event experience (at least that what the customer may think).

With its flaws and strength, the shared economy in the travel and event industry has a scarce but growing adoption. Indeed, it is said there is three reactions to it as an event planner:
  • It is the next big thing but still does not impact my market, I shall stay out of it
  • It is the next big thing but still not safe to adopt, I will wait for the proper regulations.
  • It is the next big thing and I am proactively joining the movement.

The shared economy poses some challenges to the traditional business model but also means opportunities to be eco friendly and cost efficient.

We care to introduce you to two share economy event-related services: 


Source : http://www.showslice.co.uk
Showslice is an online procurement platform based on collaboration from large event organisers. By signing up on the website, any event organiser can share information and procurement with other members. 

The idea is to rent instead of buying. Someone organising an event can for example rent the infrastructure, the A&V equipment or even the production crew to another professional from the event industry. This platform breaks down the barriers of communication by providing in an easy way to get in contact with people meeting the same event requirements, and is an efficient tool to save on budget, labour costs, time, planning effort and waste production.
 
Source : https://liquidspace.com

LiquidSpace is a collaborative idea available on internet or via a mobile application, which creates a bridge between people looking for meeting spaces, and those who have meeting spaces to share. 

On one hand, any people looking for a meeting space can easily access to large range of offers for private offices, boardrooms, meeting rooms or conference rooms depending on his location, date and room size criteria. With Liquidspace, the booking is convenient as there is no contract to sign, nor phone calls to make. On the other hand, any person having available unused workspace can list it on Liquidspace to get a chance to win extra money from renting it. The users can decide of which members will rent their venue, set the price and offer a rent by the hour or by the day. To make the experience even easier, Liquidspace provides a calendar service which updates automatically through the self-service booking and payment system. This collaborative tool is also a way for professionals of the event industry to promote their brand with a custom profile page, links from their business website, special promotional offers, mass emails, search engine optimization and much more.

Sources : 

"Online conference - now it's easy"

 GoToMeeting is a web-hosted service created and marketed by the online services division of Citrix Systems. It is an online meeting, desktop sharing, and video conferencing software that enables the user to meet with other computer users, customers, clients or colleagues via the Internet in real time. 



  • Basic solution, enabling you to create a conference, which involved up to 15 people. 
  • Visitors are not required to register for the conference. 
  • The company provides the opportunity to use this product during the trial period. 


   GoToMeeting product line includes the following solutions: GoToMeeting, GoToWebinar and GoToMeeting Corporate. All products support conferencing and VoIP, include free updates and technical support around the clock and have no restrictions on use. 



   GoToMeeting uses patented technology that allows to provide access to arbitrary application running on a computer organizer of the meeting, in real-time. After the automatic installation of applications not requiring additional configuration or training, the user can act as the organizer of the meeting. Visitors can take part in a meeting using Microsoft Outlook, Lotus Notes, as well as a variety of instant messaging programs. 


Pieshaia Maryna & Berker Guner


Sources:

https://www.gotomeeting.com/online/conferencing/online-meetings?c_name=google_EMEA&c_date=Evergreen_Google&c_mark=EMEA_RU&c_prod=GTM&c_cell=Branded&c_kwd=gotomeeting-Broad&c_cmp=sf-70150000000ZTXM&nst=0&gclid=CI70w8i-08QCFTDKtAod8GIAig


The Sharing Economy Is On The Brink Of Disrupting Business Travel

The Sharing Economy Is On The Brink Of Disrupting Business Travel


A lot of investment will occur in the business travel industry in 2015, 6.2 % more than last year investment. The competition has evolved, focused on new technology use, therefore traditional vendors are forced to adapt their supply.
From a BtoB point of view, for companies that manage corporate travelers’ fees (travel managers), new services that work on a sharing economy system as Uber or AirBnB are switching the formal system.  Travel managers used to make deal with traditional services companies for their corporate travelers: airlines, hotels chains, car rental companies… These relationships were resulting in perks and attractive prices depending on the number of travelers and were really advantageous in comparison to leisure travelers’ prices.
But corporate travelers using the sharing economy services in their personal lives know the advantages to do so, and tend to use it more and more in their business travels. It is more convenient and cheaper than the services provided by the company’s travel platform.
It has several consequences, first the volume of travelers might be insufficient to sustain the perks and prices for companies. Then the insurance policies does not work the same with traditional services than with sharing economy services and most of the time the insurance does not cover the latter. In case of safety problem it could transform into financial abyss for travel managers.
It results in dilemmas for travel managers, if they do nothing and let business travelers use the sharing economy services, it could be cheaper but they will lose the perks and price hardly negotiated and will face a high safety risk. If they force travelers to use traditional services they will create conflicts and conflicts with employees are rarely positive.
This article conclusion makes the statement that traditional travel services will have to evolve for business travels because of the popularity of sharing economy services. The author assume that sharing economy services will evolve to fit the safety issues and that they are also able to negotiate advantageous prices and perks with companies. So they will be many changes due to new technologies that challenge the formal system, all these changes will create a cost decrease and winners will be travel managers and business travelers. 

This article highlights several issues regarding the impact of IT on tourism. Indeed, sharing economy has become possible thanks to the spread of ITs and the worldwide potential networks. The problem is that legislations are struggling to cope with the incredibly fast evolution of technologies. As explained above, one of the main concerns would be regarding safety. Legislation on the insurance policy for the services provided by sharing economy companies is still very blurry and incomplete and it represents a risk for travel managers and the companies they are working for.
It is essential to realize that today trends are dictated by the consumers more than by companies, and if business travelers are used to using some services in their personal life they will be more likely to keep their habits even on their professional travels. A good example is the use of apps such as Uber or AirBnb. It is just one touch away from the consumer, being available directly on his/her mobile device, and this practicity is, as much the price, a key decision factor. Why waste time and energy to go through the company's rental car process, when it is so easy to get a uber cab ? Today keys to the service industry are velocity and practicity. The whole travel industry is facing a major shift and travel managerss will have to follow it. If they want to perpetuate the formula used so far (company offering deals negociated with major travel companies), they will have to embrace that shift and maybe consider proposing an app to the employees, on which they could easily and quickly book a flight or a cab on the behalf of the company during their business travels.


Online travels agencies are getting a duopoly


Nowadays, we could feel lost when deciding where to go online to book for an hotel or a flight. Indeed, many online travel agencies (OTAs) have emerged these last years: Booking, Hotels.com, Hotwire.com, Kayak, Trivago, Orbitz, Travelocity, Egencia, etc. It seems like we have a lot of choice of websites before even trying to select a hotel.

The truth is choices between companies in online distribution are getting less and less if you look at it closely. In fact, two powerhouses are in reality fighting in the online travel agencies sector and buying websites after websites: Expedia and Priceline.

If one would think these two companies are new in the market with OTAs this is clearly wrong as they were respectively founded in 1996 an 1997: not that young!
These two giants develop global strategies and are now mastering OTAs. Priceline has a market capitalization of 64 billion dollars and owns famous OTAs such as Booking.com, Kayak, Agoda. Expedia is known for its acquisition of Egencia to get a B2B side and its development of Voyages-sncf.com and got lately back into consolidation strategy with the acquisitions of Wotif, Travelocity (280 million dollars) and Orbitz Worldwide (1.6 billion dollars) in the last three months. If Expedia was said to start decreasing, it is not anymore the case and the company now has 75% market share of US OTAs.


Priceline and Expedia are consequently big players that are hard to avoid online.
As a result, the big question is: does this mean an even harder time for hoteliers?
With only two companies competing on this distribution channel commissions are not predicted to decrease. For hoteliers, working without OTAs is becoming harder every day and they might not escape to Priceline or Expedia. Hoteliers, especially independent hoteliers need to work hard on their revenue management through different distribution channels to make a profit. With commissions from around 15% to 30%, OTAs are slowly eating their piece of the cake. Hoteliers have consequently to react to face this distribution challenge and find innovative online solution to fight the two mentors of OTAs.


Clémence Fernet & Tiphaine Leblanc

All rights reserved Ehotelier.com and Bidnessetc.com for pictures


Sources:
Blanc, M. (2015), Expedia (EXPE) Acquires Travelocity From Sabre (SABR) For $280 million, Bidnessetc

Creager, E. (2009). Are travel websites really different?, Chicago Tribune.

Gonzalo, F. (2015). The OTA duopoly: Priceline vs Expedia, Ehotelier.
http://ehotelier.com/news/insights/2015/03/09/the-ota-duopoly-priceline-vs-expedia/

Lainé, L. (2015). Expedia absorbe Travelocity pour 250 millions d'euros, L’Echo Touristique.

Why not Create an Interactive Wall for Your Events?

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Events fail without designing interactions nowadays. Delegates are seeking extraordinary and memorable experience in events, not only the monotone lectures or contextual PowerPoint slides. Therefore, in the end, it’s all about interactivity! In order to make events interactive and stand out in delegates’ minds, event organizers need to catch up with the current surroundings, delegates’ mindset, behavior and expectations since we are facing the rapid changes in technology innovation, ways of working, delegates’ demographics and migration flows. There are more and more new ways in making interactions in events. Such as event app, online networking communities, polling, table teams, scavenger hunt and rapid fire learning, etc.                                                                                        
In March 2015, Dalziel and Pow, a London-based agency in brand and retail design, presented a special interactive exhibition booth in Retail Design Expo that shows how technology can be adopted to engage and create sharable content. 

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At their booth, there were printed screens on the wall. When delegates touched the screen, the referred illustrations would spring to life with loads of playful animations, data-feeds and sounds. In this way, delegates could explore all the information with visual and sound effects from the interactive screen by a simple touch.


Storytelling through playful interactions from Dalziel and Pow on Vimeo.

As shown in the video above, it created an active vibe in the booth. Delegates were touching the screen and amazed by its innovative, playful, integrated and exploratory design. It’s such a powerful conversation starter that makes a space to stand out from the crowd. A wall is not just a wall anymore, such design endorse so much more interactions and fun for the delegates. Not only for exhibition booths, it can be applied in any kind of events to engage the delegates. 

So, why not create an interactive wall for your events?

References:
http://eventplanning.about.com/od/conferenceservices/a/Interactive-Conference-Ideas-To-Engage-Your-Audience.htm
http://blog.bizzabo.com/how-to-make-your-event-more-interactive
http://www.dalziel-pow.com/projects/interactive-animations-retail-design-expo