TECHNOLOGY MARKET
Event technology - how to navigate a crowded market
Understanding a complex data world, from CRM to chatbots and everything in between
BY KEVIN O’SULLIVAN T
he event technology market is becoming one that is increasingly crowded and complex to navigate. Forecast
to grow to over $10bn by 2023, according to a report by Market- sandMarkets, the global industry is scaling at a rate of 11.6%-a-year and is being stimulated by a growing desire among events professionals to automate their processes, using a multitude of platforms whether it be for event registration and ticketing, event planning or event marketing. In its ‘Automation ebook’ report, Cvent, the market leaders in global event technology, also points to a strong economic driver behind event professionals’ desire to better harness technology, as it claims phasing out manual tasks – rang- ing from using disparate systems to post-it notes and old-fashioned spreadsheets - can help increase productivity by 27% and boost event attendance by 20%. It’s little wonder, then, that
shows like Event Tech Live in Lon- don are quickly growing in size and stature as events planners seek to improve their own business systems as well as the all impor- tant ‘attendee experience’. Not only that, but the event planner who is able to bring together all of their data from multiple systems into a single homogenous view, and then mine that data for new insights, will start to outpace their competitors and grow their event footprint. In the realm of artificial intelligence, big data analytics and machine learning techniques are already stimulating a whole
Event Tech Live helps events planners
navigate the growing event tech market
new era of contact with event attendees, with chatbots provid- ing realtime assistance to delegates and with the advent of Internet of Tings (IoT) sensors in venues, the ability of event organisers to map their interaction with attendees and understand the flow of an event is just around the corner. In future, data clouds and visualisa- tion systems, delivering live views of everyone attending an event, enabling organisers to deliver timely and appropriate content – through push or in-app notifica- tions – will become the norm.
ALREADY, SYSTEMS created by event tech companies such as Etouches enable event planners to measures and quantify event ROI (return on investment) in real-time
“The demand and appetite from the events industry to use technology seem to be ever increasing; over the last two years of Event Tech Live we have seen an increase in budget with brands and corporates of 53% and within the exhibitions market this is at 20%. Our prediction for 2019 and 2020 is that we will see continued growth and a similar uplift in budgets specifically for technology and software.”
Adam Parry - Co-founder at Event Tech Live and The Event Technology Awards
against established goals. Match- making of delegates and exhibitors, for example at trade events, is also widespread and will be part of the offer to attendees at this year’s EventIt in Glasgow. Increasingly, the value of events
is being felt as part of the wider marketing mix: those event plan- ners who capture the data of their attendees and integrate into part of a regular contact strategy will inevitably build a longer lasting and more valuable relationship with their attendees; automating those processes based on schedul- ing timely and relevant content via e-marketing or social media cam- paigns will deliver a more engaged delegate, before, during and after an event. Welcome to 2019, the year of event automation. n
EVENTSBASE | SPRING 2019 | 37
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