The chip that helps you create better experiences

Although the title of the article refers to a small piece of plastic,  it really focuses on something much more important: the way in which technology can dramatically improve the experience you offer through events. It’s not the first time when we talk about how #eventtech allows us to create better experiences. It’s also not the first time when we talk about NFC technology and how it can be used within events. But today I want to retake together the customer journey and see how “a small piece of plastic” can make a BIG difference. For everyone involved: event planners, security team, sponsors, vendors, and most important…attendees.

Festival goer tapping NFC wristband to NFC reader

Festival-goers attend your events for the memories that will remain with them forever. They want to have fun and your ultimate goal is to make sure they will. But their fun means many sleepless nights for you and your team. It means speed, accuracy, well-crafted messages, information, and sweat.

Access control

Here is the journey attendees will take at your festival and here is how this small piece of plastic will lead their way.       

Let’s start with check-in, the first on-site interaction between you the attendee. Queueing is one of the biggest problem festival goers (and planners) face and that small piece of plastic can dramatically change things. How? If you pair the festival NFC wristband to the ticket and attendees receive them before they actually arrive on site (via mail or pre-registration parties) the check-in process will become much faster. And what a better way to welcome your attendees than a queueless view? It can also be used to access different areas on site will not just allow attendees to do this, but it will also capture their information.

Use cashless payments to create better experiences

Cashless payments are a real game-changer for events. Bar queues are, by far, the most annoying part of any big (or small) festival or concert. I will always remember that time when I missed half of Robbie Williams performance because I wanted to buy some beer water. Cashless payments dramatically reduce the waiting time for your attendees. A report conducted by American Express states that cashless payments are 63% faster than cash and 53% faster the standard card payments (but imagine having an internet problem…that would not be nice!). But speed is not the only benefit that cashless payments bring to the table. Cashless payments will also increase your revenue (reports state that incomes can go up to almost 30%) while decreasing fraud and loses. Here the main benefits of using a cashless payment solution:

  • Visitors tend to spend 15-30% more (Ex: By creating an entertainment micro-economy #coachella2017 managed to register a gross income of over $114 million)
  • Speeds up purchases & reduces queues
  • Minimize cash handling
  • Captures all sales
  • Control and transparency

Schedule a live demo to find out more about our cashless payment solution.

Attendee engagement

With the right tools, attendees are more likely to interact with your sponsors. And to make this process as easy as possible we have developed our integrated NFC technology so that it can be used to allow your partners to collect information from your attendees. With their explicit consent, of course.

Any attendee can express interest by simply tapping the wristband, allowing the exhibitor to collect data and follow up instantly. The flawless of this process encourages attendees to interact with the brands that they are interested in. They don’t need to spell their names or type in their email address, two of the most common reasons for which people tend to avoid sponsor interactions within festivals or concerts.

Picture of tablet and NFC reader and people in the background

There are many benefits of using NFC technology, but this article was just about 3 of them. Another important aspect is that having all that data in one place, you can use it to create better experiences within your future events.

July 16, 2018 Event management, Event professionals No comments yet

Event management world: small improvements to increase your revenue

                                                   –without increasing the ticket price-

As companies from every industry, event management companies to need to be profitable in order to survive. In my experience, money is not the main reason for which somebody starts a business in this industry, but even event planners have bills and salaries to pay. And unfortunately smiles, the best currency exchange in the industry, aren’t able to do it. Today’s article is based on a very simple principle (yet many times ignored) on how small changes can increase your revenue. The key is to look at the journey attendees have from the moment they first come into contact with your event until the moment your event is over (and even farther)pexels-photo-990818

From  prospects to buyers

When you first start marketing your event lots of people will see your message. But only a small percentage of them will convert into buyers. Assuming that 200.000 people hear your message and 2000 buy tickets to your event, this means you have a 1% conversion rate.

There are ways you can increase the conversion rate, and we have written multiple articles on this subject. You can write better marketing copy, use influential marketing or use the right social media tools for marketing. And later in this article, you will see why any small improvement can dramatically improve the overall financial result.

So, if your average ticket is 500 USD and you have 2000 paying attendees, your ticket revenue will be 1.000.000 USD. You have invested a considerable amount of money to convince people to come to your event, but let’s exaggerate and think that all of your attendees are the result of your marketing campaigns. A great experience will bring people back to your next event(s). And considering the fact that it’s 6-7 times more expensive to acquire a new client than to retain an existing one you should definitely make the most out of this opportunity.

good to know:

In average, event profs invest in marketing between 1 and 8 percent of what they expect the event to return. We can use a 4,5 average and consider that 45.000 USD brought you 2000 attendees (22,5 USD/attendee). A job done right gives you the opportunity to sell tickets to next year’s event for 4 USD to at least 15% of your current attendees. Of course, figures are not quite exact, but I am sure that you see where I am going.

On-site payments

But the revenue an attendee brings doesn’t limit to the ticket he pays for. If you are hosting a 2-day festival and attendees spend on average 100 USD per day, food and beverages will bring you 400.000 USD. But what if I tell you that Oveit can help you increase on-site revenues? Reports show that people tend to spend up to 30% more at events where a cashless payment system is in place. Using the right event management tool will definitely help you increase the revenue.

print screen with Oveit's digital wallet report

p.s. We know sponsorship is a crucial piece of the puzzle. And to help event planners offer a great experience for sponsors too, we have developed our NFC built-in technology so that it can be used to engage attendees and collect data. Read more here.

Increase your revenue: the practical example.

Scenario A:

So, the figures that we have until now are :

200.000 (prospects) X 1% (conversion rate) = 2000 (ticket buyers)

2000 (ticket buyers) X 500 USD(ticket price)= 1000000 USD (income)

+

2000 (attendees) X 200 USD (spent on-site)= 400.000 USD

total income: 1.400.000.

Assuming that you have a 20% profit rate you will make  280.000 USD profit

Scenario B:

Now, starting from this figures, let’s assume that you use our blog and technology and make just a few improvements. Maybe you refine your marketing strategy (better copy, better targeting etc.) and use an online ticketing system that allows you to sell tickets directly on your website. And buyers to use their mobile phones to place the order: your conversion rate goes from 1% to 1.5%.

200.000 (prospects) X 1.5% (conversion rate)= 3000 (ticket buyers)

3000 (ticket buyers) X 500 USD= 1.500.000

+

On-site, using Oveit’s cashless payments system, people spend 10% more, with an average of 220 USD.

3000 (attendees) X 220 USD= 660.000

Total income: 2.160.000

with the same 20% profit rate you will have 432.000 USD profit.

As you can see, just some small improvements can increase your revenue without increasing your ticket price. Having the right partners can be the difference between failure and success, so make sure that you choose a smart tool as your event management system. Read here another great example of how small changes can bring huge improvements.

June 18, 2018 Event management, Event professionals, Events 1 comment

Ready to welcome your future attendees?

In the last few years, we have read (and written) countless articles on Millennials and how this generation is changing the event industry and consumer habits. Now I would like to include the Z Generation in this article on how things are going to change; although Z generation members are still too young to fundamentally change the event management industry they will start to be a very important part in the next 24 months.

young lady with headphones holding a mobile phone

But first, let’s remember who exactly can be included in these 2 categories:

Millennials: name used for those born between 1980 and mid 90’s

Generation Z: name used for those born starting with mid 90’s (there are many discussions regarding the ending birth years for this generation).

Let’s see some figures on these two generations:

At present time, 1/3 of the global consumption power is owned by millennials (and this percentage is going to grow in the next few years)

It’s estimated that by the year 2020 Generation Z will represent over 40% in the USA consumption market

2 years from now, Millennials and Generation Z will represent almost 60% of the worldwide employees. 

The first common feature is their lean toward technology. But while millennials grew up while the rise of technology, Gen Z members were born into an already technologized world. For them, a world without search engines, social media, and smartphones is simply unacceptable. This first common feature draws our attention toward 2 extremely important aspects:

  1. Online marketing, using both search engines (and search engine optimization) and social media platforms. If you need any help please read one of the multiple articles that we have written about how to use keywords, email marketing, Instagram and Snapchat to promote your events.

P.s. if you think social media marketing works great for millennials you should know that Gen Z members are 4X more likely to convert on it. Great news or what?!?

  1. The movement toward smart event management tools, tools that allow your future attendees to buy online tickets using their smartphones. Why? Because a recent study shows that gen Z would rather give up TV for a day (80%) or event money and friends (28%) and keep their smartphones in return. So a software that allows them to buy tickets using smartphones is more than welcome.

Another important aspect is represented by the importance Gen Z members give to the environment and social responsibility. According to fusemarketing.com, “85% of Gen Z believes companies have an obligation to help solve social problems.” This also includes the environment and a paperless ticketing system is one way you can show that your event registration software cares about the environment.

Short attention span for both Millennials and Generation Z members

If in the past we were shocked by the short attention span that millennials had, now things are even more complicated. The average attention span for gen Z is 8 seconds (4 seconds shorter than the average one of millennials), forcing us to become a lot better when trying to get their attention. This is one of the most important aspects why our partners use NFC technology for on-site interactions. If attendees see something that captures their interest they just need to tap the wristband to let the exhibitor/sponsor know that they would love to find out more. And an NFC-ready event registration software (like Oveit) does the rest.

The future of event payments

Forget about cash or physical tokens, the future is 100% digital. Modern times allow us to take event payments to the next level and allow attendees to pay with just a tap of their wristband. No cash, no queueing, no worries. Attendees should be able to top up credit using a designated top-up point (or even the event app) and payments will be instantly processed, allowing your guests to concentrate on the things that really matter at events (networking and having fun).

As you we can see around us, by each passing day technology becomes more and more important. For us, but especially for those that never lived in a tech-free world, the future cannot exist without smartphones, apps, gadgets, and wearables. And neither the event industry.

June 1, 2018 Event management, Event professionals, Events No comments yet

Are you using Instagram’s latest updates?

2018 brought some really exciting updates on Instagram, making the Facebook-owned platform one of the hottest places on the internet. We have talked about Instagram before, and I would like to start by letting you know that over 100 million new users joined since our last article on how event planners can use Instagram to promote their events. We have already mentioned the general features, today we are going to focus on the latest updates and how event planners can use them in their best interest.

picture of a phone logging in on Instagram

You can now follow a hashtag

I would like to start with my favorite update, the ability to follow hashtags. Yes, this is correct, Instagram now allows us to follow hashtags just as we follow people or brands. The result is that all posts with that particular hashtag will appear in the user’s feed.

This new option is very helpful for event planners that have created a unique hashtag for their events. Fans will be to join an online community by simply following the hashtag; their feed will gather content that uses that particular hashtag, no matter who posts it (official account of the event, performers, attendees of fans).

Carousel ads for Instagram stories

With the help of a few lucky advertisers ( from brands like Coca-Cola, GAP or Bottega Veneta) Instagram is testing the way Carousel Ads fit into Instagram Stories. As an event planner, Carousel Ads are perfect because they allow you tell a short story about your event. As a marketer, Instagram Stories are great because they have a higher conversion rate than Feed Ads ( in a 2017 study conducted by Agorapulse – Instagram Stories had a 23% higher conversion rate than Feed Ads). I think it’s safe to say that Carousel Ads for Instagram Stories will be a great tool that combines two powerful features. For start, the carousel format will allow marketers to use just 3 pictures/videos, but according to Instagram officials this is just the starting point and things may change.

 

series of 3 pictures showing how carousel works on Instagram

source:adweek.com

Scheduling for Instagram

In the past, it was impossible to schedule a picture to be automatically posted on Instagram. The process involved push notifications, meaning that when the time came for the post to go online we would still need our approval. The good news is that starting January 2018, Instagram allows business accounts to schedule single photos (and it automatically posts them) – the changes in Instagram API allows 3rd party apps like HootSuite, Later or Buffer to do that for Instagram users. For videos, ads, and multiple photos scheduling still involves notifications, but this update shows us that things are moving towards what we all want. For event planners, this new feature means more posts with fewer interruptions.

P.s.  there are signs that scheduling will become available for regular users as well.

An improvement made to Instagram Stories

Instagram made it easier for users to upload pictures and videos into the Stories section. Following its latest update (April 2018), it is now possible for multiple photos and videos to be uploaded at once. Great news for content creators, this new option helps them save precious time.

Earlier this year “Stories” received another update, the “Type” mode initially used for status update on Facebook. “Type” allows you to create personalized messages using stylish fonts and backgrounds and can be used by event planners to deliver live messages to their followers. It may not be the best way to communicate but it is an option that may come in handy.

 

The Facebook-owned platform seems the hottest place to be right now, and the new features developed by the team behind are a clear sign that Instagram is shooting for the moon. The new Instagram Updates can help event planners better connect with their followers but also to reach new ones. 2018 seems to be Instagram’s year and it would be a shame not to use it to promote your events.

April 30, 2018 event marketing, Event professionals, Events No comments yet

How to improve your events. 7 tips for event professionals

updated: 14.06.2023. While the original post focused on 7 tips that will help event professionals create better experiences, the updated version contains 9 suggestions. Feel free to share your opinions and suggestions using the comments section.

“The only person you should be better than is the person you were yesterday”

This is the thought that gets me out of bed on those mornings when all I want is to turn off the alarm and get back to sleep – we all have this kind of morning.

This quote applies to our work as well. And I had the pleasure of discovering that many of our event planners partners think the same. They aim, with every new event, to create a better experience for their attendees. To be better than last time. To make the smile on attendees’ faces slightly wider than last time. And talking to them about what they work on I have managed to extract some common points that can improve any event.

Improve your event

Start (planning and executing) early

‘“If you fail to prepare, you prepare to fail”

We all know it, no matter if you are planning a one day conference or a multi-day festival, it takes months of preparation and work to make sure everything goes well. Start early and create a schedule for the whole process. If you leave things for last minute you whole event can be compromised by unexpected situations that may occur (and there will be quite a few of them).

Set early bird tickets

When you decide to sell tickets online, early bird tickets are a way of repaying your most eager (and loyal) attendees, but also a great way of making sure you don’t have cash flow problems. Using an event management software that has a direct payments feature money will go straight into your account, so you will have a back up if needed. As Sir Richard Branson said, cash flow is extremely important for every business, and revenues from early bird tickets can be your safety net.

Choose an “arresting” venue

The human eye craves beauty, and a beautiful building will always arouse admiration (the positive feedback that we have received for our Beautiful theaters article is good proof of that). The venue where your event takes place will influence the overall experience of your attendees. Make sure that the building offers optimal conditions in matters of location, access (for people with disabilities), heating/cooling system, sound, and lights. Even though we can’t all just book the most impressive building in the city, make sure it offers you everything you need.

Well-balanced and diversified menu

People don’t attend events (just) for the great food that you offer, but this too will impact their experience. How do you act when you are hungry? Are you still able to focus? Are you still interested in what somebody else has to say? When it comes to food, not all attendees have the same preferences, and although you can’t please them all you should at least have both normal and vegan menus.

Engage your attendees 

Let attendees feel like part of your event. As humans, we want to know that our words/opinions matter, and asking for feedback is a great way of letting your attendees know that their do. Feedback will also let you know how your event looks from “outside” – no matter how critical you are to your own work, you should always try to see it from your attendees’ perspective. If possible, ask for feedback before, during, and after the event.

Keep your attendees informed

From my own experience, I can say that attendees like to know as much as possible about the event that they are attending. Yes, a little mystery is always welcome, but don’t keep essential information from them. Questions like “Where can I find the event app”, “Where/when is lunch served”, and “What time will Speaker X be on stage” will surely be asked, so verify that your team has the answers. People will also want to have access to the Schedule of your event, it would be nice to have it displayed in visible places (and also in the event app – if you use any).

Deliver personalized experiences

Tailor certain aspects of the event to cater to individual attendees’ preferences. For example, using our ticket add-ons, you can empower your attendees to create their unique experiences. Allow them to build up a ticket from (almost) scratch by adding different content tracks, special access, or even merchandise. Help them build unforgettable experiences.

Sustainability Initiatives

Incorporate eco-friendly practices into your event planning, such as reducing waste, using sustainable materials, or promoting carbon-neutral options. Communicate these initiatives to your attendees, as many people appreciate environmentally conscious events. But most importantly, in order to improve our events, it is our responsibility to craft experiences that have a minimal impact on the environment.

Take advantage of event technology 

This is my favorite part because I have seen how technology in general (and Oveit in particular) can help event planners in their “pursuit of happiness”. I will point out just some of the most important aspects:

Online registration: Nowadays, no matter what event you are hosting, you should offer your customers the possibility to purchase tickets online. Making it easier for them to register will increase the total number of attendees and will also offer you more information about them (through registration forms).

NFC technology: The tap-and-pay system is great because it makes it really easy for attendees to purchase the desired products. It can also be used for interaction purposes, transforming the old event wristband into an extremely powerful high-tech tool.

Smooth registration process: Undoubtedly, time is our most valuable resource, and we all cherish it. It’s clear that we don’t like to have our time wasted, so you should always use a smart tool that will ensure a fast and smooth check-in process.

You are creating forever-lasting experiences. Now, you can sell NFT tickets and allow your attendees to actually own a part of your incredible work.

It is hard to change all those mentioned above at once, but even the tiniest improvement can have spectacular long-term effects. And the story of Dave Brailsford and the British Cycling Team is a great example of how small things can bring unthinkable changes. Keep up the good work and never stop improving!

April 10, 2018 Event management, Event professionals 1 comment