4 Ways Technology Is Changing the
Events Industry
There is a growing of the
event industry in the US nowadays, which contribute to “115$ billion of the
Gross Domestic Product”. However not only in the US but also an increasing in
other nations such as UK, India and Japan. These increase lead to the use of
technology in order to facilitate the organization and maximise the customer’s
expectation.
This article will explain
how technology changes the event industry by focusing on four points:
-
Tickets go mobile – mobile is the most device used during a
day. So, it will be creative to use it as a ticket for all kind of events for
its simplicity and sustainability aspect. According to Neetu Bhatia, founder
and CEO of Kyazoonga, a global online ticketing agency, mobile ticketing is
more than just having a ticket on the phone “now anyone with a mobile
smartphone can become a ticketing point-of-sale” Few research shows that the use of mobile apps during an event can reach
more than “94%”. In response to that events planners and venues need to create
a “mobile experience” in order to improve attendee engagement and
participation.
-
Costs reduction, revenue generation – The results of a study
from “Enterprise Event Marketing” shows that “technology can create 20%
increase in event attendance and reducing costs by 30%”. However, investing in
technologies could also costs a lot, sometime more then saving some. The future
of this industry will push providers to be a “no-cost” technologies or
additional value, in order to avoid being low-costs solutions.
-
Attendee data - Big Data rules most of the industries,
however it’s potential stays hidden in the events industry.
Technologies like scannable QR codes, much like the ones utilised for
internet ticketing, can enable event experts to gather information from
participants that are scanning various things at a live event.
Leading Companies like Google utilises Near Field Communication (NFC) and
other location-based tracking to have detailed insights on consumers from a
Live event.Entertainment Locations uses Google to track and publish highly specific
information on traffic times, which helps the consumer to access the place at
the time of less traffic. Likewise, it can be used in phones to guide the event
organisers to identify the frequent purchases, which can help in split testing
marketing tactics.
-
Still-emerging trends - In spite of the fact that not yet
standard, it's essential to understand that the trends may have a strong impact
on the business in later years. Cashless events will the nearest future of the
events industry. Apple Pay and Venmo are creating a new era by making use of
mobile payment as the latest trends in the event market. This could altogether
diminish costs for settings that need to manage everything that relates money
administration.
Another move may come in the utilisation of VR innovation. Virtual
participation can possibly give minimal effort choices to individuals who generally
wouldn't will to burn through cash on tickets. Furthermore, those individuals
could have a view from the best seats in the house without harming ticket deals
in those regions.
Enormous investments are made in obtaining new technologies but it’s dark
side like the concerns and the cost in its integration and implementation in
the event prevents some experts from using such new solutions.
For organizations attempting to pick up offers with significant event
providers, the attention ought to stay on bring a financially savvy accomplice
while giving arrangements that expands participant engagement.
The key will be to evaluate what innovations have as the best degree of
profitability, both in income and participant satisfaction. Right amount of
revenue invested on good technologies leads to a remarkable event creation.
Source:
Sheila Eugenio, L. (2017): 4 ways
the technology is changing the events industry. [online] Entrepreneur.
No comments:
Post a Comment