6 Ways Technology is Changing the Events Industry

Though events are all about creating spotlights, the events industry has largely remained in the dark for all these years that many of us do not consider to be an industry at all. There are primarily two reasons for this perception-

1. The industry itself is quite diverse, ranging from concerts to conferences to weddings and as a result, it’s pretty tough to estimate the overall market size;

2. Generally, most of these events are managed behind the curtains by a handful of organizers; hence, little detail is known about the business operations.

But as it is in most industries, events industry has also witnessed ground-shifting changes in the recent years owing to the influence of technology. As per a report, the market size for an event management software alone is set to be over $9 Billion by 2020. This, apart from fueling event app development to incorporate cutting-edge new technologies, has led to the exploration and growth of the entire new verticals of the events industry. Here are some of the ways technology is leaving its mark in this industry:

1. Event planning

Since most of the components of an event are available online, web and mobile technologies have moved to completely transform how events are planned from the beginning. From venue management to guest-list to third-party services, every aspect of an event can be now managed through a single platform and consequently, can be more swiftly dealt with if anything goes astray.

2. Event marketing

The days of fliers and banners to promote an event is long dead. Marketing is one dimension that has been completely governed by technology in this century and has delivered much better and impressive results. Digital marketing, when coupled with social media, is a very powerful tool for targeted marketing and can be used to reach out to the most appropriate audience without wasting resources on irrelevant subjects.

3. Ticketing

If you have a paid event to organize, maximizing ticket sales is the key to maximize revenues. That is possible only when you have a maximum outreach without too many third-party entities’ involvement. Technology has a solution for that as well- your own online ticketing portal and PoS (Point of Sale) deployments to cover and synchronize both online and offline sales channels. This way event organizers have complete control over their revenue channel and can take immediate steps in case sales aren’t going well or the demand is too high.

4. Wearable technologies

This is one of the budding technologies that has found its appropriate place in the events industry. For event organizers who witness repeated audience or those struggling to establish themselves as a brand, wearables have come out with a feasible solution. In the future, wearable event apps can replace tickets. They will be of great help in tracking the audience, and can also be used as a marketing tool to establish a loyal audience.

5. Live Streaming

Live streaming of an event has traditionally been a hallmark of grand scale and required massive amounts of resources. But with the evolution of technology, that isn’t the case anymore. With services like Periscope, Facebook Live, YouTube Live, among many others, anyone can live to stream their event at virtually no cost.

6. Event analytics

This is arguably the most recent mark of technology in the events industry and is the path to its future. When all the components of an event go digital, they leave a footprint that can be later analyzed to get deeper insights into what makes an event successful or failure. From user behavior to demographics to tracking expenses, with all the information on a single platform, much can be learned to tune future operations and boost prospects of success.

So, whether you are an events industry veteran or are just at the initial curve, there is no doubt that you must be feeling these shifts as well. And if you know anything about markets, you must be aware that the only way to survive a technological evolution is to adapt to it. We are an app development company India with years of experience and industry insights gained through our collaboration with multiple businesses for whom we have designed and delivered custom solutions. Housing a large pool of Indian app developers, we promise to bring to your project the highest quality standards at most reasonable costs.