As technology continues to propel the $560 billion dollar events industry, there has not been a more exciting time for the industry. With each passing year, there have been enhancements in the way events are planned, marketed and executed. Whether it is improvements in event marketing attribution, enhanced event tools, or robust event data security, the collective progression of all this is playing a crucial role in the evolution of the events industry. As new regulations such as GDPR come into effect or events move to the virtual space of Augment Reality (AR) and Virtual Reality (VR), let’s look at why this is the right time to be part of this dynamic industry.
AR/VR taking the center stage
Event technology has changed the way we discuss, attend, measure and interact at events. And today, VR and AR are taking the center stage, leading the charge in creating unique experiences for attendees. As more and more event planners gain accessibility of these technologies, we expect AR and VR to make an even bigger impact in 2018 and the years to come. These technologies are sure to reach a wider audience and deliver even more engaging and interactive experiences.
Data Privacy Regulations
While onsite experiences are expected to revolutionize the way attendees perceive your events, data protection will be a hot topic for the remaining of the year. With the coming of the General Data Protection Regulation (GDPR) in Europe, event planners have to mindful about the event data they collect. Effective May 25, 2018, GDPR ensures that users know, understand, and consent to the data collected about them. It gives a chance for users to rethink the terms of engagement between them, their data, and the organization collecting that data. GDPR will set the tone for data protection around the world for the years to come. The regulation has surely made event planners think about innovative ways to collect data and market to the citizens of Europe. Exciting times have just begun as event planners focus more on offline and inbound marketing. Planners need to get used to the uncertainty as it is the only thing that will last.
Focus On Return On Events And Storytelling
There has been a paradigm shift in the way event planners measure the performance of their events. While traditional methods of counting the ROI still holds importance, event organizers around the world are also focusing on return on events to generate a powerful impact on their attendees. After all, more and more people are attending events to build meaningful connections with the brand and people. As planners focus on return on events, they are skilfully designing a compelling story to tell. This will greatly influence the way the guests perceive the event.
Even though ROE is difficult to measure, it is expected to result in a stronger brand allegiance and deeper emotional connection. Apple and Disney have mastered the art of brand allegiance and share a deeper bond with their customers. The time to generate satisfactory ROE and a strong connection with the attendees is now! The art of storytelling has also evolved as planners try to connect with their audiences. With valuable lessons explained through live events, attendees not only have a grown network but a key takeaway from your event.
In conclusion, 2018 is an exciting time to be a part of the events industry. There will be a lot of uncertainty and turmoil as regulations change, the audience’s perception of events change and new technologies invade the industry. With that said, the new opportunities that this brings is something to look forward to not only in 2018 but for years ahead!