Why is event tech so important and how can you be a part of the event industry evolution?
What is technology?
Technology can be defined by the application of knowledge to reach practical goals in a specifiable and reproducible way (Skolnikoff, Eugene B.1993). Though this runs true insomuch as the event industry is an element of modern society subject to the expansive nature of technology progressing every corner of its influence; what is the reality of its influence? The following blog will briefly outline the impact event tech is having on some of the live event industry’s key players.
WHY ITS IMPORTANT?
Event & Conference Organisers/Planners:
Some of the main responsibilities of an event planner is to organise, manage/plan the logistics, laisse with suppliers and stick to the all-important budget, with the ultimate goal of a smooth operation with satisfied clients and attendees. So It’s no surprise that 82% of B2B event personnel believe that attendee engagement is an important KPI for event success and 89% of businesses using event technology save roughly 200 hours per year (or roughly one hour per day), and 20% see 360+ hours saved per year (Bizzabo, 2019). That’s all well and good, but there are incurring challenges surrounding these demands. 51.5% of planners say that the inability to match live engagement is the most frustrating thing when it comes to sourcing event tech, and 25.4% say cost is the biggest challenge (EventMB, 2020). It seems like a nice problem to have right? – insomuch as your attendance is outgrowing your ability to facilitate their engagement… Wrong. Event personnel say 64% of their brand awareness comes from hosting events (Bizzabo, 2019). Pre-pandemic, this would have seemed a concern… an even bigger concern now, as a recent study showed event technology can increase attendance by 20% and productivity by 27% (VISME, 2022). This tells us the need for event tech is only increasing. Although event tech makes life easier, the demand for the versatility of its application is becoming more apparent in the way organisers are trying to engage with their attendees and clients, concurrently made increasingly difficult by the cost. To find out how planners are over coming these hurdles, scroll down to read Giant iTab’s EN INDY ‘Supporting Supply Partner’ Award win.
In 2019, the Events Industry Council, a global group of over 30 international organisations involved in the meetings, conventions, and exhibitions industry, released ‘four key principles’ designed to encourage meetings and events professionals to utilize sustainable practices. Many of these are being concurrently employed by hotel and event venues across the world in efforts to reduce the environmental footprint of meetings and events traffic (BCD Meetings & Events). One of which is to ensure event organisers and suppliers share responsibility for implementing sustainable practices with localised SMEs at the event location. This means reduced production of printed materials, waste management practises and reduced carbon emission production as a result of oversees event tech imports. Stats like 90% of event organisers have adopted e-tickets in 2020 (Eventbrite 2020) is indicative of these principles.
The key objectives for an exhibitor are usually sixfold: increase stand footfall, increase brand awareness, increase ROI, increase network, data collection and staff training experience. All of which can be improved by the aid of event stand tech. As previously mentioned, event technology can increase attendance by 20% and productivity by 27% (VISME, 2022). Giant iTabs have proven this more so, with real time results’ “the Giant iTab increased our sales by 30%, selling 1400+ memberships directly on our solution…..this made the difference in opening the business in profit rather than loss.” This particular quote by Energie Fitness manager, Richard Yhapp is referring to a 10:1 ROI on the bases of signups alone attributed to having a Giant iTab on his stand. A study ran in 2019 showed the majority (63%) of respondents believe a mobile app can drive attendee engagement (Bizzabo, 2019). This tells us the power of apps within events; what better way to showcase and engage stand visitors with your app than with a giant smartphone?
Event marketers have clear objectives mainly revolving around generating new and repetitive business, and the influx of event tech has made those objectives become more attainable using KPIs, various online platforms and AV equipment. In fact, 90% of event marketers believe that technology can have a major positive impact on the success of their events (Bizzabo, 2020) and that 78% of event marketers believe that in-person events is becoming increasingly important to their company’s success (Bizzabo, 2020). Thus, event tech is not just the conduit marketers need in order reach their financial objectives, but a key component in adding value to the digital experience of their event.
It’s fairly implicit that when it comes to event attendees the focal point for planners, marketers, exhibitors etc. is their satisfaction. One the ways in which you can determine the satisfaction of attendees is by monitoring their engagement behaviour and comparing the visitor numbers year-on-year. 54% of event planners are spending more of their time and attention on the attendee experience rather than logistics (AMEX, 2019). That might sound surprising but once again, visitor engagement is the focal point which will determine whether your event is successful or not, this can be supported by the fact, 63% of respondents believe tools to engage event attendees will play a key role in their future event strategies (Bizzabo, 2020).
HOW CAN YOU BE A PART OF EVENT’S EVOLUTION?
As a supplier to the events sector, making fundamental changes that influence the industry for the better, we’ve created hassle-free end-to-end solutions that help our clients and partners become more sustainable, with the added professional service, we are proud to deliver versatile event tech to this incredible, dynamic, and evolving industry.
Giant iTab will be exhibiting as well as Official Supply Partners at the following up and coming shows:
London Build: 16th – 17th November 2022
Global Event Tech Summit: 22nd – 23rd November 2022
FinTech – 30th Nov – 1st Dec
Confex – 1st – 2nd March 2023
CN Agency Awards – tbc
So come and see us!
If you’d like to be a part this evolving community, fill out a web enquiry form below and one of our team will get in touch to discuss your options.