4 Latest Trends in Event Management Software
The event management sector was thriving and bustling in 2019. And that growth will continue as 2020 begins. Big trends that shook the industry in the past year include artificial intelligence, cybersecurity, personalization, and chatbots. Now that 2020 has arrived, it is quite interesting to see which technologies and innovations will affect or become the latest event management solutions.
Success in the event management sector requires more than choosing the perfect event management software for your organization. It also requires a keen eye for technological changes and improvements that have the potential to impact as well as disrupt industry standards and established practices.
In 2020, the following trends are expected to take event management sector to a whole new level. Industry professionals may well take note and do the necessary adjustments and changes to their practices and processes if they plan to make 2020 a very good year.
1. Wearable Tech
Smartwatches are no longer just providing its owners a convenient device to monitor their heart rate, it can be utilized to add great value to an event experience, whether at concerts, art festivals, or business conferences.
For attendees, wearable techs allow for faster and more seamless check-ins, real-time updates on their tickets and accommodations, and instant relay of instructions from organizers, among other things. It makes digital payments more secure. Smartwatches can also help users navigate their way to their seats or booths in conferences, thereby offering convenience and ensuring their satisfaction.
By linking their wearable devices via event booking software or app, they don't have to worry about forgetting their tickets or fumbling their pockets for stubs. Their wearable devices can provide all the information needed for faster access, entry, and assistance. It also minimizes the attendees' interaction with their smartphones, helping them focus on the event and the experience it brings.
For event staff, using wearables enable them to attain and maintain real-time awareness of everything going on. Such intelligence enables management to enhance communications as well as streamline tasks and optimize processes. This results in improved efficiency and fast delivery of delightful experiences to attendees.
Wearables also provide event management professionals a trove of customer data. In turn, the information gives event managers a wealth of actionable insights which they can use for planning and executing more memorable events in the future.
2. Enhanced Personalization
People watch concerts, go to sporting events, and attend business conventions for one reason or another. What better way to give them immense satisfaction and add more value to their experience by personalizing their journey. Personalization is not a new trend in the world of event management. But it plays a major role in creating experiences that resonate with participants. Especially now that people are more demanding and keen to make every aspect of the event theirs.
Big data, artificial intelligence, and real-time data are now being extensively used more than ever to generate insights for better personalization. Event management solutions with AI and big data capabilities have proven to be quite popular.
Such tools help managers and organizers identify potential participants, influencers, speakers, and staff. It enables them to pick better venues, choose the best topics, and suggest optimal schedules. By enhancing the personalization aspect of event management, event managers and organizers can offer relevant content, courses, products, and services to people who can relate and most likely attend. Thus, attracting a massive number of potential attendees who can create significant traction and interest.
3. Facial Recognition
Facial recognition is also not a novel innovation. But its application in the event management scene is gaining more and more proponents considering the advantages such technology brings to the table. When combined with event management software and CRM solution, facial recognition allows for faster registration and profiling.
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Facial recognition can be utilized to identify specific individuals such as VIPs and special guests and streamline special services and other benefits promised or afforded to them. It speeds up the identification verification process during check-ins and improves security on-site and online.
On-site security challenges, in particular, continue to be a major pain for many event organizers and professionals. By incorporating facial recognition technology to their existing security protocols, event management staff and security teams are better equipped to keep venue and attendees safe and sound.
Facial recognition deployed in events helps prevent people using counterfeit tickets to enter the venue and deprive legitimate participants of the experience they expected to receive with their hard-earned money. One startup proclaims that they will develop a facial recognition-based product that will replace concert tickets. Security cameras with facial recognition capabilities can monitor the venue, scan guests' facial features against criminal databases, and help identify potential threats. Security teams and event staff are immediately alerted to they can respond and take immediate action without compromising the security of other guests.
4. Cashless Payments
When Samsung Pay, ApplePay, and VISA Checkout burst into the e-commerce scene and made payments faster, more secure, and more convenient, it was only a matter of time until a similar technology will make its way to the events management industry. Today, cashless payments at events and venues is a growing trend bent on becoming a standard for the entire industry.
Wristbands with RFID tech or wearables linked to credit cards allow attendees to instantly pay for food, drinks, and services at events such as concerts, live sports, and conferences. It eliminates the need to bring cash and credit card to venues. Cashless payments also mean users don't have to fumble their pockets for cash and linger in queues while waiting for their change, making their whole experience frictionless and more enjoyable.
Cashless payment apps for events allow users to track their expenses, making it easy for them to control their spending and reload their balance when needed. For event organizers, cashless payments facilitate and streamline payment processes and improve transparency in all on-site transactions, thus improving their overall profitability while ensuring their customers have a wonderful time.
Keep Up With The Trends
According to a 2019 forecast by Research and Markets, the event management software sector will grow from $5.7 billion in 2019 to as high as $11.4 billion by the end of 2024. But using the best event management software is not a guarantee for success.
On top of the ones mentioned above, other emerging trends that will likely change impact the management industry include virtual and augmented reality, strategic crisis communications, improved on-site WiFi access, blockchain technology, and cryptocurrency. Technologies today evolve at an extremely fast pace. It won't be surprising if a new set of trends will come out next year and reshape the event management industry the way current trends do now.
Event management planning professionals need to keep up with the pace. They need to remain dynamic, versatile, and responsive as the demands of their industry and clients continue to soar and change at the same time. Event planners need an event management software to be effective and productive. They also need to be abreast of technologies and trends that will make an impact on their work and industry if they are to compete, succeed, and flourish.