How to Increase Value in the Event Industry

How to Increase Value in the Event Industry

The event industry is a community of creators, innovators, and entertainers. It's a community that brings people together and creates experiences. Brands and services want to connect with attendees. Attendees are looking to stay connected/ have a more engaging and active experience at events. And from event planners to potential attendees, everyone wants a seamless experience.

Events empower face-to-face communication while integrating the latest trends, technologies, and expectations. With the addition of any WOW factors they promote, events inspire and add value to industries outside of the events community.

Here are a few ways that detail how to recognize and increase value to continue producing or participating in successful events.

Determine how your value is perceived.

An article in FastCo emphasised the importance of value as a “perceived benefit.” According to the article, there are one of three types of value to create:

  • New: Breaking into a new sector and basically learning the needs of a target market.
  • More: Focusing on quantity or delivery of a product/service.
  • Better: Reinforcing an existing value through a change in impact, intensity, or application.

To know what excites clients (vendors, attendees, etc.) is key in expressing value and working towards continuously enhancing it.

Learn to listen -- and listen to learn.

This is a huge investment of time and commitment that will provide more ROI than anything else out there. This also requires openness to recognise feedback that needs to be heard. It also requires the willingness to allocate the event budget for the proper tools to do so.

Focus by listening to clients, staff, suppliers, attendees (all parties involved) in an event lifecycle. Through active listening, learn their pain points, recommendations, comments and desires.

Upgrade and innovate.

It’s not just about learning what’s new out there. Implementing and working with it creatively while taking risks to do so is key. Invite innovation by making mistakes and learning from them.

New ideas spring up all the time. Seek out what will ultimately help deepen the relationship with the attendee and the brand/ exhibitor(s). What ways can value be created by using what’s available? Perhaps a current problem or issue is being solved.

Thinking ahead, what may seem as a convenience factor now could be addressing a future problem that has yet to even be realized. Anticipate what's to come by putting the people (client, attendee, etc.) first, then upgrade to better their experience.

Stay present, but be mindful of the future.

Technology and event software are here to stay, but should be used in accordance with the goals and objectives of an event, brand, or business. It’s nice to feel like a part of a movement or trend, but know the issues for the desired technology or trend to solve. Moreover, have a plan to use any data (information, feedback, results, etc.) post-event and measure it! This is especially important for event marketing and sales efforts. For example, knowing certain statistics like event check-in times. An event’s start time could be at 8am, but the bulk of attendees traipse in around 9am. This is a possible indicator to planning for a more optimal arrival time at the next event.

Putting said trend or technology into action is one thing. It’s equally as important to learn from its use to better future experiences.

Always be improving.

This goes without saying, though it’s a nice reminder. Keep moving forward and apply what you know and what you’ve learned to better the future.

Constantly evolve.

Innovate.

Grow.

And make the event(s) worthwhile. Whoever finds value in an event will become an advocate. Advocates want to and will provide added value through active promotion and future attendance.

 

 

Guest Bio: Monica Wolyniec is an aficionada of mindful marketing, specializing as a digital liaison and marketing professional at Boomset. She loves yoga, “checking in” with new tech, and catching up on lifestyle and wellness chat. She is especially focused on sharing knowledge and industry insight while establishing international connections across social platforms. Connect with her @Boomset or @itsmemonicamarie.

__By Alanna Bestwick

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