Boosting the return on investment (ROI) for events can be a challenging task for event organizers. However, leveraging event technology can greatly contribute to increasing ROI while minimizing costs.
By using event technology, organizers can enhance sponsorship opportunities, improve attendance rates, and boost overall efficiency and productivity. In this blog post, we will explore seven event technologies that can significantly boost your event’s ROI.
What is Event Technology?
Event technology refers to the application of various digital tools and platforms to streamline event management processes and enhance attendee experiences.
These technologies encompass a wide range of solutions, including mobile event applications, live streaming, e-ticketing systems, interactive polling, digital booths, virtual and augmented reality, and event tracking and analytics tools.
Benefits of Using Event Technology
Using event technology offers a wide range of benefits that can significantly enhance the overall success and ROI of an event. Here are some key benefits of utilizing event technology:
- Improved Attendee Engagement: Event technology enables organizers to create personalized experiences for attendees, fostering higher levels of engagement. Through mobile apps, interactive polling, and digital booths, attendees can actively participate in the event, interact with content, and share their experiences. This engagement leads to a more memorable event and encourages attendees to stay involved even after the event concludes.
- Enhanced Event Planning and Management: Event technology simplifies various aspects of event planning and management. Tools such as event management software, e-ticketing systems, and event tracking platforms automate processes, streamline communication, and centralize data. This results in improved efficiency, reduced administrative tasks, and better overall event organization.
- Increased Sponsorship Opportunities: Event technology opens up new avenues for sponsorship and revenue generation. Mobile event applications and event websites offer opportunities for sponsor branding, targeted advertisements, and interactive features that can attract sponsors and exhibitors. By leveraging event technology, organizers can create more value for sponsors and increase sponsorship revenue, directly impacting the event’s ROI.
- Expanded Reach and Audience Access: Live streaming technology allows events to reach a broader audience beyond the physical venue. Virtual attendees can participate remotely, access content in real-time, and engage with the event virtually. This expands the event’s reach, increases visibility, and opens up new revenue streams through virtual ticket sales, virtual booths, and online advertising.
- Real-time Data and Analytics: Event technology provides valuable insights into attendee behavior, preferences, and engagement. By tracking attendee data, organizers can gather feedback, measure session attendance, monitor social media interactions, and track event success metrics. These real-time analytics enable data-driven decision-making, allowing organizers to make on-the-spot adjustments and optimize event strategies for better ROI.
Event Technologies Used to Boost the Event’s ROI
There are many ways that technology can boost an event’s ROI. It can assist in user engagement and offer them a customised experience that leaves them feeling special. Using technology to deliver personalised messaging, customised content, and unique experiences may improve your event’s stickiness and long-term involvement.
Furthermore, interactive technology may improve the operational productivity of your event. Improving operational productivity can automate workflow procedures like check-in or booking or giving attendees real-time information on their behaviour.
Listed below are some event technologies that will help you achieve the same.
-
Mobile Event Application
An effective event application can generate substantial ROI. Event websites and mobile apps offer various sponsorship opportunities. Leveraging these platforms can turn your events into revenue-generating assets. Exhibitors and sponsors, who contribute to 45% of event revenue, greatly influence the overall ROI. Thus, utilizing event technology to facilitate mutually beneficial interactions is key.
-
Live Streaming
Live video streaming has revolutionized the way events are broadcasted, thanks to platforms like Facebook Live and Periscope. This technology allows events to reach larger audiences by providing real-time access to content and interactions. Live streaming is particularly beneficial for small events with attendance caps, enabling a genuine experience for in-person participants while catering to a broader remote audience.
-
E-ticketing System
Maximizing ticket sales is crucial for boosting event ROI. Online ticketing systems and seamless booking processes streamline payment procedures for attendees, making it easier for them to purchase tickets. By implementing a reliable payment gateway and e-ticketing platform, organizers can simplify the ticket purchasing experience and increase sales.
-
Interactive Polling
Active audience participation is key to creating an engaging event experience. By leveraging interactive polling technology, organizers can gather real-time feedback from attendees and share the results online or on presentation displays. This not only makes attendees feel heard but also provides valuable insights for shaping future event strategies and maximizing ROI.
-
Digital Booths
Digital booths bridge the gap between physical and online event experiences. By enabling attendees to create and share event-related content through online photo booths, such as selfies, animated GIFs, and videos, interaction on branded channels can increase. Additionally, utilizing automated captions and event-specific hashtags can enhance organic search engine optimization (SEO).
-
Virtual and Augmented Reality
Virtual reality (VR) and augmented reality (AR) technologies offer unique opportunities for creativity, collaboration, and attendee participation. VR and AR can be used to create immersive training experiences or enable remote attendees to virtually participate in the event through 360° videos. Such technologies enhance the overall event experience and broaden its reach.
-
Event Tracking and Analytics Tools
Understanding attendee behavior and gathering event data are crucial for optimizing ROI. Event tracking and analytics tools provide valuable insights into attendee movements, website interactions, and engagement levels.
By utilizing an intuitive event marketing platform with comprehensive tracking capabilities, organizers can monitor metrics like signup rates, attrition rates, and average cost per attendee. These insights enable data-driven decision-making and help identify areas for improvement.
Conclusion
Event technology presents a powerful opportunity to boost event ROI while delivering an exceptional attendee experience. The seven technologies discussed in this blog post provide concrete benefits such as increased engagement, enhanced sponsorship opportunities, streamlined operations, and actionable insights. By embracing these technologies, event organizers can maximize the ROI of their events, ultimately creating memorable experiences and keeping attendees satisfied.
