7 reasons why you should use a cashless payments solution for events

I am a huge fan of the cashless payments solution, there’s no secret here. Today I would like to list 7 of the most important benefits of using one for your events.

picture showing Oveit's cashless payment solution used at an event
1. The cashless payments solution increases your revenue

As the cash habit fades away, customers tend to increase their spending limit. Reports show that attendees tend to spend up to 30% more at events where a cashless payment system is in place. They love to buy, but they just don’t like the long queues that make them lose all the fun. Which takes us to reason #2.

2. It speeds up transactions


The tap and pay system is, by far, the fastest way to process transactions. According to American Express, cashless payments are 63% faster than cash transactions and 53% faster than classic debit/credit card transactions. Each transaction can be processed in under 5 seconds, a mid-sized cashless payment set-up allowing you to process over 20 transactions/second.

3.Detailed live reports

The cashless payment system gives you live access to real-time data. It’s 100% transparent, allowing you and your partners to see live how much money attendees are spending (and how). It also allows you to create “cohort reports” and segment your attendees based on their spending habits (and combine those reports to any demographic data you have collected).

4. Fraud and losses become a thing of the past

With a cashless payment system in place, fraud becomes almost impossible. Not handling cash or tokens will make it impossible for someone to steal the vendor’s income or the attendees’ money. Human errors may still appear, but with an easy to use cashless payment system, they are highly unlikely and easy to correct.

5.Multiple revenue streams

Using smart NFC tags for payments allows you to also use them for attendee engagement and experiential marketing. The event ticket is paired to the tag (that can be stored into the event wristband, card, or badge) and allows attendees to interact by a simple tap of the hand. It can also be used for smart screens and gamification, converting your event into one fun ecosystem. And sponsors are always attracted to new ideas for attendee engagement.

6. Less staff needed for access control

The event wristband can also store your attendees’ access credentials. Permissions can be checked by a simple tap to an NFC receiver, allowing you to delegate your team members to more important tasks. It’s also faster than traditional scanning, allowing attendees to move to different sections of your festival without having to wait in endless queues.

7. Increased overall attendee experience

I have saved it for last but in my opinion, this is the most important benefit of using a cashless payment system. The speed and safety that it adds to your event will make the whole experience unforgettable. Not having to carry your wallet, being able to purchase a beer without having to wait for ages, allowing you to use your wristband to claim perks, those are all benefits that we all crave for.

Why use our cashless payments solution?

What differentiates us? With Oveit you can set up a cashless payment solution without the need for expensive hardware. We have developed a mobile app that transforms your mobile phone into a powerful and easy to use POS. No need for special scanners or NFC devices; add credit and record purchases using just day to day mobile phones.
Another reason why you should definitely use or solution is that it works both online and offline. And because it does not require a special set-up it can be used in any location you wish. Like a remote island or the top of a mountain.

Contact us for more info.

Creative ways to use our event management software

From day one we wanted to develop Oveit into more than just a ticketing app, to develop it into a complete event management software. We always knew that technology can help you offer unforgettable experiences to your guests. Time passed, we developed new features, and clients started using our software for complex situations. Today I will tell you how our partners use Oveit’s features in ways that may surprise you. Maybe you are looking for an event management software that you can use in an “unconventional” way (yes, we now that you are looking for more than a ticketing software), so go ahead and find some inspiration below.

 

Great way to collect shout-outs 

I am found of all creative ideas, but I will start with the idea one of our partners had not too long ago.  They were using Oveit to sell tickets for a high-school musical show. Also wanted to give parents a way to support their children by allowing them to buy some “shout outs” in the event programme. They had a dedicated email address for parents to contact them but found it difficult to offer a straightforward payment solution. It was also pretty difficult to make sure that all the shout outs are collected in one place and none is lost “on the way” (things can be difficult when you are part of a small team).

He had the ingenious idea to use Oveit for it; created a new event that allowed parents to instantly register the message by using our registration forms. Set up a limited number of tickets (each ticket was a shout out) and money went straight into their account through our direct payment feature. After the registration period was over they simply downloaded the list and printed the shout-outs in the Event Programme. An easy way to solve a complicated situation.

Print screen from Oveit - event management system

 

Rewarding loyal customers through our event management software

Loyalty is something each brand looks for from its customers. Loyal customers are hard to find, so when you do let them know that they are truly appreciated. One of our partners (a Sports Organization) uses our NFC technology for both payments and access control at the VIP lounge. They wanted to do more for the fans that rarely miss from a home game, so they have created a special rewarding program. Depending on the number of consecutive games the fans attend they receive a gift from the organizer. Because the fans use their cards to pay or access designated areas our partner can easily keep track of those that qualify for the loyalty program.

Loyalty programs are very appreciated by customers and 76% consider that personalized offers based on their purchase history are crucial.

Art that speaks to its admirers

Our NFC capabilities can be used to engage attendees within your events. We developed it thinking it would be a great way for attendees and sponsors/exhibitors to connect.

However, I know someone that took this feature one step further. Visiting a museum is always fun, but it’s much funnier when art talks to you. Yes, our NFC features are used in museums, and visitors can find more about a particular piece, an artist or an art movement. Online searching for information is very common among museum-goers. Art that follows up is not something that you see on a daily basis and it’s a great way to create a buzz while helping visitors find more about what they love.

follow up email sent using Oveit's attendee engagement feature

photo/text source: wikipedia.org Example of personalized follow-up email sent using Oveit’s engagement feature

 

 

 

 

 

 























Using the “badge” option as a gift coupon for your services

Discount coupons are a great way to attract new business. According to a study conducted by Firstdata, 11% of coupons are used by new users, meaning they are a great way for new customers to test your products or services. A quality interaction will convince them to become regular users, and adding gift coupons can increase your client base. To estimate what this could mean take a look at how small improvements can increase your business

Oveit can be used to create gift coupons that will be sent directly to the beneficiary through a 100% personalized coupon while all the financial data goes to the person that places the order.

 

Our cashless payment system for day to day activities

Our main focus is on cashless payments, there’s no secret here. We are happy to see that more and more event planners use our software for this feature, increasing their revenue. Our “light” setup was adopted not only by event planners but also by an elementary school that was delighted that can use it in its cafeteria. Parents credit the pupils’ accounts (they use colorful NFC wristbands that scholars love to wear) and using our software they are sure that the kids use the lunch money…for lunch.

colorful NFC wristband

 

 

 

 

 

The same system is used by a large corporation as a way to partially support lunch for its employees. Each month the company adds an amount to each employee account as they use their personalized NFC cards to pay at the cafeteria. If they run out of credit employees can add extra credit.

We are happy to see that more and more employers opt to use our cashless payments solution in order to create a closed-loop ecosystem to manage lunch benefits.

 

NFC-based ecosystems for tourist complex

The idea of ecosystems has always been on our minds, this is why we have developed Oveit into more than a ticketing software. And starting from the event ecosystem we looked further, making it easy to use in more complex environments.  With their help, we managed to develop our software so that it can manage a touristic complex, the NFC room key becoming a powerful tool that is used to:

Attendees can use it to:

-open rooms

-pay at bars, restaurants, gift shops (in the ecosystem)

-access different areas on site (access to different facilities is connected to the room guests have booked, so permissions come as “benefits” added to the account)

-guests that stay at this resort have access to a nearby Contemporary Art Museum and in order to see if they really visit it the entry is added as a “perk” and checked in individually (using the same “room key” which, of course, it’s an NFC card).

 

A new way to manage treasure hunt games

Our NFC capabilities were not once used for implementing treasure hunt games, but a particular occasion stuck to my mind. One of our partners used Oveit for a company retreat and the NFC wristbands to capture data on what activities its employees prefer. For the treasure hunt game, they used our software to create checkpoints and check if each team has covered the whole track. Each time a team reached a milestone the team leader tapped the wristband to the NFC device. Our event management software sent an email containing clues on how to reach the next checkpoint and also marked that they have covered that point of the track. Easy implementation for maximum fun.

 

Hope this article helped you discover new techniques to satisfy your customers. If you have a question for which you haven’t got an answer please let us know. We can’t promise Oveit will be the perfect solution for you but we promise we will look into it.

 

Oveit is one of the first to join new Stripe partner program

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Most people today don’t know that only three percent of GDP is online. That’s why we’re excited to join the Stripe Partner Program to increase internet commerce and help companies start, run, and scale their businesses.

By joining the program, our mutual customers will now benefit from the combination of Oveit’s embeddable ticketing and event registration technology with Stripe’s seamless payments platform.

Oveit aims to provide event planners and venue managers with the best tools to help them sell tickets, register visitors and setup cashless payments. Our app provides an easy to use cloud solution that can be embedded in virtually any website, thus allowing a better customer experience and improved conversion rates.

We’ve built our tools around some of the pain points we noticed for event ticketing. Oveit makes it easy to set up and start selling tickets instantly. Payments are transferred directly into the event planners account through our Stripe integration, thus improving cash flow.

Oveit can be easily implemented by just copying and pasting a short code on the event’s website. Integration with Stripe is done by simply clicking a button. We support all of Stripe’s currencies so users all across the world can use Oveit to sell in their local currency.

From concerts to theme parks, from festivals to business conferences, we provide the most relevant tools our users will need to create the experiences they have envisioned, without complicated software interfaces or integrations.

Our vision is to help event planners and venue managers connect with their visitors before and after tickets are purchased. That is why we have set up a streamlined ticketing, registration and payment process but also the tools to interact with visitors after they have arrived. By using Oveit event managers can set up activation campaigns within the venue, lead collections for sponsors and partners as well as cashless payments systems using NFC tags.

We believe that removing barriers to online commerce helps more new businesses get started, levels the playing field, and increases economic output and trade around the world. Together with Stripe, our mission is to bring more commerce online and increase the GDP of the internet.

Read more about the Stripe Partner Program here.

 

 

 

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.

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.