How the Event Industry Is Transforming through Technology

The event industry has continued to witness great improvement all around the globe. Based on findings from Meeting Professional International (MPI) revealed that events alone contribute over $115 billion to the gross domestic product (GDP) of the United State of America (U.S.A), with subsequent billions of funnels to both the state and the federal government tax revenue.

In fact, the event industry is not only witnessing improvement in the United State alone, other nations like the United Kingdom (U.K), Japan and India are also experiencing growth. With such tremendous improvement, now calls for the need for standard technology to meet the expectations of consumers and make the production of events less stressful. An influx of Startups, venture capitalists and business entrepreneurs are all working together for a common purpose, which is to develop a perfect solution for the events industry. 

Even as the latest technologies are making the difference for event gores all over the world, you are going to discover here how major changes are being made in the event/business industries, without wasting much time let’s now go into details.

Mobile Ticketing

Mobile has really changed the way things are done in various industries, so the event industry is not going to be an exception. The early waves of mobile innovation have come with the functions of ticket buying.

“Ticketing has tremendously increased the opportunity of establishing that bond with your loyal fans; it involves the ability to be made fully available to everyone and everywhere. Say’s Neetu Bhatia, director, and CEO of kyazoonga which is an organization that is into online ticketing globally. Mobile ticketing also gives vendors the privileges to do more. Bhatia further explained, “clients has the privilege to access and also manage the ticketing backed end in a more easier way than the previous terminated based method. Is now possible for anyone with a working mobile smartphone to start a ticketing point of sale business”

The demands of consumers have been fully integrated into mobile for more efficiency during events, as well, findings have revealed that mobile apps usage at some major events could be as high as 93%. Because of this, there is a need for venues, promoter and planners to collaborate with providers that will be able to help take their experience mobile. The positive side is that customers can quickly adapt to any changes: findings from Guidebook shows that 88% of event experts are of the opinion that truly event apps enhance attendee engagement.

Revenue Generation and Cost Reduction

A research that was done at Enterprise Event Marketing (EEM) discovered that making use of event technology could create a 20% increase on event attendance while bringing down related cost by approximately 30%. Even so, various researches also point to the fact that one of the major reasons why events experts don’t integrate latest technologies is because of cost. Organizations and vendors will have to work harder in order to compete in an ever-increasing cost-sensitive industry.

“We see ourselves at net generators in a client’s profit and loss”. Bhatia reveals, “We are able to do this by using predictive analytics to enhance and drive buying decisions and algorithms to improve the in-seat experience plus real quick time alert to encourage future orders.”

Before now, providers have tried a lot to promote low cost as the solution, but what the future of the industry may now require from them to priceless or give additional value.

Using Holograms to Create that Unforgettable Event

Let’s tell ourselves the Truth, latest technologies don’t always come cheap, this could be the major reason why average event planners are not quick to adopt the use of holograms in meetings. even when is obvious that holograms are certainly entertaining and innovative, the ROI (Return on investment) could be tough to measure, which now make it an option only for some special events.

But, just of recent, technology Organizations, are now discovering ways it can be a beneficial option to clients. Below are some examples.

ARHT Media, Inc. It’s a company that holds the patent on HumaGrams which could “transport” someone through space and time! For some people, this could seem unrealistic, but without missing words, the technology actually delivers authentic 3D human holograms.

At the beginning of this year, the SALT conference that was held in Las Vegas, NV, the Keynote speakers at that particular conference were represented through holograms to a sold-out crowd. It was observed that technology did not only save time and money, geographical barrier was also eliminated by enabling a person to be physically present in two places and at the same time!

ARHT Media are of the opinion that the use of holograms could help revolutionize how events are being organized. On various sectors, from entertainment (music) to healthcare (hospital) and others, could benefit tremendously from this very technology.

Streaming Live

Streaming Live is one technology innovation that seems to get all the attention these days, YouTube lives streaming, Twitter Live and Facebook Live videos are all leading the pack; a lot of people seems to enjoy seeing things on the internet in real time as they happen. The capability of streaming live has gained more popularity in recent times. Most especially for those events that normally attract global recognition. Live streaming gives people the privilege to experience events, even when they cannot be there physically.

Maybe you have thought of streaming your event live, but you are not fully sure if it is the right decision. Maybe you have the thought of, “well, this could be a fantastic way to showcase my self, but come to think of it who is going to ordering the tickets since the live streaming will be for free?” What a brilliant Question to ask. Even though there are a lot of advantages to the streaming event live.

It’s good to first understand whether it will be of benefit to your event, not all events are ideal for live streaming, there are some that thrive mainly on exclusively. the idea of keeping an event exclusively could help in setting the prices of tickets. Selling of tickets or even attracting thought leaders. There could be more benefits for these events if it kept intimate Rather than streaming live. But for a lot of events, especially those that their main objective is broadcasting of information or promoting of a particular product or services, live streaming is the best option.