It is a known fact that increasing event ROI is not easy. There are several simple and difficult methods to boost ROI, but at what cost? While cost cutting and taking ownership of everything can be a difficult solution, there are simpler ways to optimize event ROI and make the most of your event budget. So, what do we mean by “simple” solutions? It might sound ironic, but event technology can help you get more event ROI in more than one way at a very little cost. It can help you increase registration by effectively promoting your events, capitalize on sponsorship opportunities and make you more productive and effective.
Read the blog below to see how event technology can increase your event revenue, with marginal investment in it.
As mentioned above, event technology can help you increase registration numbers and attendance at your event, capitalize on profit opportunities and save your time and money. Let’s see how this happen:
Effective promotion of your event
Spam people’s inbox with registration invite can be a last-minute attempt to salvage your event. According to Hubspot, over 75% of marketers use email to promote their event, while 47% still mail invites! But that is certainly not the right way. With the right event technology, you can create customized event website and emails that are based on your prospect’s persona and interest.
Event technology also helps you create digital campaigns to put your brand in front of the prospects when it matters the most. According to Hubspot, the average event uses five promotional methods to publicize the event! A word of caution: you should see what is your reach on social and digital platforms before you think about digital campaigns.
Repeat attendance at events
Another way event technology helps in boosting ROI is by increasing attendance. It helps event organizers deliver a stellar onsite experience. With an overwhelming 88% of event professionals claiming that event app enhances attendee satisfaction, there is no prize guessing that event technology can transform attendee satisfaction in more than one way (Guidebook).
Attendee satisfaction is a key metric to measure the success of an event. And that is why event technology has become so crucial to create memorable events. There are several event technologies available for the entire event lifecycle. For instance, there are several onsite event technologies like onsite event check-in and badge printing that not only reduces the registration queues, but also creates an everlasting first impression on your attendees. With an unforgettable onsite experience, your event will have a great recall value and will make attendees come back to your events year after year.
Deliver value to exhibitors and sponsors
The best part about event technology is that it caters to all types of industries and events. For instance, at trade shows, event technology can help match sponsors and exhibitors with the right prospects. Such business matchmaking technology not only saves a ton of time of your attendees but also adds value to your events for them, give them meaningful leads and improves their conversion rate.
Capitalize on profit opportunities
Event technology like mobile apps can be a great source of revenue if used correctly. There are several sponsorship opportunities that event mobile apps and event website provides. Make sure you use them to turn your events from a cost center to a revenue generator. According to Planningpod, out of the total event revenue, 23% of it comes from exhibitors while 19% from sponsors/donors. The study shows that you need several revenue streams to stay profitable. Exhibitor and sponsorship opportunities directly impact your event ROI and this symbiotic relationship is a huge advantage of event technology.
Saves a ton of time
Event technology can save a ton of your time and make you more productive. According to Enterprise Event Marketing, event technology can help increase event attendance by 20%, increase productivity 27%, and decrease costs 20-30%! Event technology automates most of your manual work and allows you to focus on other important things like onsite experience and attendee satisfaction. Event technology also reduces the scope of human errors that are often incurred while manually entering data into CRMs. Being more productive and efficient indirectly impact your event ROI by allowing you to do more in less time. Event technology definitely puts you in the driver’s seat to deliver an awesome event and boost event ROI.
Event technology is the simple way to boost event ROI and become an event superstar. It not only helps you become more productive and efficient, but works for you to deliver a great onsite experience and keep your attendees satisfied!
In need of a more affordable solution for registrations, check-ins and business matchmaking? Click here to request a free demo.