The event management industry has for the past few years been ‘THE’ Industry to watch out for with regards to the tremendous growth as it has seen over the past few years, From Rs 5,631 Crores in 2016-17 the events industry is expected to cross Rs 10,000 crores by 2020-21 as per an EY-EEMA report and at a 16% annual growth rate, it surpasses even the Indian Media and Entertainment Industry.
It is no surprise that event management is the sunrise industry for businesses to invest in, be it corporate events, MICE, Activation Campaigns or Music and Sports events. The fluidity of the industry allows event managers to quickly adopt new technologies to gather information and apply them to the events undertaken expanding the opportunities available to clients even more. With this, event managers can help clients maximize their ROI even more.
So what among other things has the use of technology in event management help achieve?
More effective planning!
One of the biggest advantages technology provides event managers with is recommendations which can be drawn to personalize the experience for attendees at an event. As software’s get more adept at interpreting data from all sources available, it has now become a lot easier for Event Managers to use that information and design experiences with a personal touch and deliver on topics which would help attract the audiences they desire.
This is not only applicable to large format events and exhibitions but can also help develop content for a niche closed door corporate events from the get go.
This in turn helps companies maximize returns and helps the event industry deliver more impact driven services, not only exceeding client objectives, but enhancing attendee experience.
Easier Information Management
One of the challenges currently faced by the industry is audience Data collection and segmentation through the registration process. A big problem which technology has been instrumental in solving is information flow to and from the audiences.
Using Marketing Automation and CRM tools allows event managers to accurately sketch target audience profiles and segregate Data as per audience preferences for more effective communication.
Eventually this helps event managers create a far smoother audience itinerary management and retainment process and would help eliminate many currently necessary but time consuming steps in identifying and delivering on what the audiences are looking for.
Helping estimate and budget better
The availability of real time data allows us to make constant changes to the logistics involved within large and small format corporate events or weddings, basis the responses and enquiries received. Everything from transport to even bottles of water can be effectively accounted for and operational expenses can be reduced basis the information received and at the same time, communication has really bettered by leaps and bounds to convey information.
Digital Events
Live streaming events through media available, be it Facebook or in case of a B2B format Webcasting Services allow marketers and event management agencies to capitalize on multiple locations at one go.
From a B2B perspective, this helps in reducing costs and now townhalls etc can be broadcast to all offices at one go, without incurring the logistical expenses of planning the same event in multiple cities.
From a B2C perspective, It allows marketers to broadcast brand activation campaigns and launches as they happen, reaching a far larger audience and thus attaining more conversions.
Besides what is stated above, technologies such as 3D Printing, 3D Mapping, Virtual and Augmented reality allow event managers to elevate the experience further than ever before.
What will be interesting to watch is the advent of AI, which through anticipatory computing and personalization will elevate the experiences delivered even further.
About the Author
Irfan (Adnan) Morbiwala is the Marketing and Sales Director at Pegasus Events, The Wedding Co. and The Great Mela. Adnan is a seasoned event management professional with 13 years of experience in Consulting and Delivery. His role involves understanding current industry trends, setting company strategy and initiatives that help propel the company into the future.
Technology and Event Management: What is and What will be
