As companies begin to look to the next year and their plans and budgets, the introduction or continued usage of event and meeting technology is likely being discussed. As the use of technology in business has become commonplace, the use of event and meeting technology is rapidly growing in adoption. If your organization hasn’t used technology before, has only used it in a limited capacity, and is now considering adopting event and meeting technology or increasing its usage, this high-level review can help facilitate the conversation on whether or not it should be adopted.
A good starting point when considering introducing or upping event and meeting technology is to look at the opportunity cost. If an organization carries out events and has yet to invest in event tech, the decision might be a result of the value put on the money not spent for the technology. This, in certain circumstances may be valid but if one considers the costs to do some of the aspects that can be replaced with technology, it is quite comparable or better for a technology solution. Take the printing costs of an event for example. The design work, printing, shipping of all the materials for an event can become prohibitive. Add in the potential for reprinting when updates or mistakes are found, the need for long lead times, and that in many cases unused or distributed materials are wasted or shipped back. This one area improves dramatically with event technology especially on a per event basis.
It is better to consider the opportunity cost of NOT using event technology where there may be a different set of variables that can have a larger reaching implicit value to an organization. If event technology is assessed on the value it can bring to the organization and the event, the value and return is much clearer.
Data analytics and insight
Few would argue that the data and analytics to an organization is a close second after sales in rank of importance. Using event technology for events can provide a new valuable asset that was unavailable before and if available was often unmeasurable. The ability to collect data on almost every facet of an event now more than ever is a realization through event technology. This leads to metrics that allow for better decisions and actions that can be data driven instead of the opinion and guessing ways of the past. Similar to online analytics, most event technology platforms provide insights on attendees. Validation of assumptions can now be done with specific data points by viewing results from engagement tool usage such as real time polling and automated feedback loops. Additionally, if an organization does multiple meetings each year, the ability to capture a longer term data set can be supportive in strategic and operational guidance for a company.
If ACME Widgets company does 24 different regional training events for its distributors on how to sell and maintain the widgets the event technology could capture 24 different data sets. Depending on which technologies ACME uses they can see who has attended, how people traveled to get there, and what was covered during the training sessions. If they choose more engaging technologies they may be able to start seeing which collaterals the attendees are looking at, how they are engaging with the material, if they continue looking at items post event and much more. Additionally, they may be able to correlate this into which trainers get better results, what content is the most engaging, how the trainings and what is being done ties into those ever-important sales and customer support numbers. The opportunity cost of not using event technology may be the loss of key insights and long term data collection to help influence the company’s planning and strategy that ACME could have captured in multitude.
Economies of Scale
Organizations that oversee or produce multiple events in a year will often have a “wash, rinse, repeat” approach to their events. Vendors become familiar and the calendar with the lead timing is memorized. Often ideas and new approaches can be pushed out of the conversation because of the fear of the unknown. Could the event be bigger (or smaller), could more events be done, what if we wanted to take the event on the road or change locations? These scenarios are common outcomes when reviewing management of events on an annual basis. The constraints on changes like these can be resources, staff, timing, and much more.
By creating economies of scale through event technology platforms, where the technology can manage many of the aspects of the event’s activities, one can create a path to additional events or events that were previously seen as unfeasible, time for innovation and change, and ultimately more successful events.
At Duuzra we provide a content engagement solution that can effectively be leveraged as an Event Application, a Sales and Exhibition tool and as a training tool. While economies of scale is a common solution our platform delivers, we are designed to be flexible to accommodate almost all event types and sizes but we also recognize that we cannot solve for all event needs. But we like to hear from companies and find out what they are challenged with, often we do assist in creating a better customer experience for them. Ultimately, the fit for technology must be right, but the first step is having the conversation on what improvements your event is needing and whether technology can help whether it is Duuzra or another supplier.
Whether it is for the one big gala or 40 sales meetings, next year could be the year where the event you organize could move from the traditional format to something more evolved with event technology. Where your attendees have an elevated interaction, your staff are not stressed over late printing jobs, and at the end you have a data rich outcome that can help shape the future of the organization.