How the events industry is changing!

In an ever changing world, nothing stays the same, and the events industry is no exception.

Technological advances, big data and social media are changing the events industry, enabling more immersive experiences; and allowing us to interact and engage with attendees in different, more effective ways. If we wish to stay ahead of the game we need to look at every aspect of how we organise our events, from planning processes right through to event delivery.

So what are these advances, and how does it affect how we plan, market & manage our events?

Platforms changing how event organisers do business

The events industry is following the transformation seen in other industries such as travel where software platforms like Expedia and TripAdvisor enable instant access to information, allowing consumers to compare and pay for accommodation.

iVvy is the world’s first real-time booking engine for the events industry, allowing event organisers to search, compare, book and pay for function space, food & beverage and group accommodation all in the one place, instantly. With live availability and pricing organisers no longer need to wait on the RFP process, saving time and money.

Better data drives better events

A whitepaper published by the International Association of Exhibitions and Events highlights how, as big data tools become cheaper and more readily available, event managers will be able to deliver better events– having mined information collected on customers, the community and the event. Combined with easy access via the cloud, event planners have the tools they need to shape content and manage experiences any-time and from anywhere.

Event planners are now starting to use data mining to analyse demographics, gauge engagement, generate leads and measure ROI. Increased and more effective data capture across different sources will result in more integrated planning – especially across social, digital and experience functions.

Bringing power to the people – instant access

Consumers want more control and they want information at their fingertips or on their wrists – here and now. The access to and availability of data is getting more savvy and with it, the potential to use information to transform experiences.

Mobile event guides and digital tools are taking precedence over print. The biggest factor in favour of mobile guides is not just its accessibility, but that they can be easily updated via the cloud to reflect real-time changes.

Event organisers have better control over how attendees experience and engage with the event and sponsors can also benefit from being able to see real-time engagement.

The fundamental role of the event is changing

What defines the industry will never change – people go to events for a great experience and, in the case of business events, to form relationships for a specific purpose. The event is still there for selling a product and for providing a platform to forge relationships.

However, social media engagement has resulted in events playing a bigger brand extension role. Where previously, many events were observed as stand-alone activities, they now serve a greater purpose – as conversation starters on social media, lead generators for businesses, data mining tools for CRM, experience centres for brands and engagement hubs for sponsors.

The audience are no longer observers. They are active participants shaping the success of the event – in real-time. The trends will evolve with technology. Just as these changes get entrenched in the industry, new ones will come up. And, the show will go on.

*By Lauren Hall, CEO, iVvy
www.iVvy.com