4 Ways Technology Is Changing the Events Industry - 2 views
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events contribute $115 billion to the United States gross domestic product (GDP), with subsequent billions funneled to both state and federal tax revenue.
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As a result, venues, promoters and planners need to partner with providers who can take their experiences mobile.
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he use of event technology can create a 20 percent increase in event attendance while reducing related costs by up to 30 percent. Even so, numerous studies also indicate that one of the biggest reasons events professionals don’t integrate new technologies is due to costs.
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Technologies like scannable QR codes, much like the ones used for online ticketing, can help event professionals collect data from attendees that are actively scanning different objects at a live event.
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Virtual attendance has the potential to provide low-cost options for people who otherwise wouldn’t be willing to spend money on tickets. Additionally, those people could have a view from the best seats in the house without damaging ticket sales in those areas.
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ut factors like cost and concerns surrounding the way tech integration may impact event experience continue to prevent some professionals from trying new solutions.
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For event organizers, the key will be assessing what technologies have the best return on investment, both in revenue generation and attendee satisfaction. Those that capitalize on the right technologies stand to gain a significant competitive advantage in the evolving event landscape.
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The events industry is growing in the United States and around the world. Event managers need to keep up with the current and future technology trends in the industry. Mobile ticketing, cost reduction, gathering data from event attendees, and cashless events are all areas that event managers need to use in their operations. Using technology at events can help to reduce costs and improve attendance. In addition, the future in events could mean having a cashless event and also implementing virtual attendance. Event managers need to evaluate the technology that is the most cost-effective. The initial cost may be high; however, event managers need to look at the return on investment.