Published on
Oct 2023

contents

◗◗The Role of Technology in Maximizing Event ROI

6 min. read
event management, event roi, event success - The Influence of Technology on Events

The future of technology is endless, and it’s difficult to stay ahead of the curve. Technology will always be with us regardless of how much we try to avoid it. We must learn to adapt to and accept new technology since it provides several advantages that we must capitalize on. Technology innovations will continue to assist in simplifying procedures, increasing productivity, and increasing outcomes. In this blog article, we’ll highlight various ways you can use technology for maximizing event ROI (Return on Investment).

Maximizing event ROI

The Influence of Technology on Events

There are various ways that technology impacts the event industry and helps in maximizing event ROI. For starters, it can assist in engaging your guests and providing a tailored experience that makes them feel unique. Using technology to provide personalized messaging, bespoke material, and one-of-a-kind experiences can enhance the stickiness of your event and promote long-term engagement.

Second, interactive technology can improve the efficiency of your event by improving operational capabilities. This can involve automating workflow operations like check-in or booking and delivering real-time statistics on attendee behavior.

The Impact of Technology on Event ROI

Before planning, you must identify your event objectives and verify that any technology employed supports and accomplishes them. If you do not know your aims, it will be difficult to pick which technology to adopt and when to employ, which can put a dent in your plans of maximizing event ROI.

For example, if lead generation is one of your objectives, you’ll need systems that combine lead capture technologies. Alternatively, if you want to maximize income from your event, marketing automation technologies that aid in driving sales conversions will be essential. Whatever your objectives are, technology will play a critical part.

Provides Analytics & Data

Before the advent of event apps and platforms, event planners depended on pre- and post-event surveys to determine event ROI. Since open rates seldom reached statistically significant percentages, such statistics rarely provided a fair representation of an event’s success.

The rules of the game have subsequently changed. One of the most significant advantages of event technology for maximizing Event ROI is data insights and analytics reports. Planners must locate the proper piece of technology that generates the correct data to measure the event KPIs that are important to them. They can monitor consumer behavior, lead creation, profit, and other metrics.

Promotes Sustainability

In-person activities have a high carbon impact and generate a lot of garbage. Planners who seek to organize genuinely sustainable events can leverage technology solutions to reduce the events sector’s environmental impact and save time. In a survey by Gitnux, 28.4% of respondents revealed they used virtual events to connect with their audience more than 10 times in 2022. 

Virtual events are considerably less harmful to the environment than in-person gatherings. They do not need to travel and create less garbage. However, because of the advantages of event technology, face-to-face gatherings can also be more sustainable. There is no need for huge volumes of paper schedules and printed event signs when all communication is handled on platforms or applications. Planners can even plan on going paperless entirely.

Increased audience participation

One of the most difficult tasks for event planners is properly engaging their audience. At the same time, technology is often seen as an adversary to live interaction. When implemented correctly, it can improve interaction and engagement across the whole delegate trip. Studies reveal that technology can increase event attendance by 20% and productivity by 27%.

For example, event technologies like live response systems allow audience members to pose questions to hosts or panellists via an app or social media. We discovered an 80-90% increase in repeat attendance at events where sessions use live response tools.

Maximizing event ROI

Online Ticketing and Registration

Online registration and ticketing are other areas where technology has altered event planning and administration. Event planners can simplify registering guests and selling tickets using online registration and ticketing. This saves time and makes it simpler for attendees to register and pay for tickets, resulting in increased participation rates.

One of the most significant advantages of online registration and ticketing is that it allows event planners to obtain vital data on their guests. Event planners, for example, can segment their audience and send customized messages, such as email marketing campaigns, using this information. This can assist in boosting attendee engagement and enhancing the overall event experience.

Integrating Event Technology Effortlessly

For maximizing event ROI, event technology must be seamlessly integrated. This connection ensures a seamless and efficient event experience. Modern event planners place a premium on integrating diverse event technology solutions, such as registration systems and badge technology.

Event technology integration does not end with the event. It includes post-event actions, including lead acquisition and follow-up. Event planners can guarantee no prospective lead is lost in the post-event scramble by employing technology to transmit attendance data to CRM platforms effortlessly.

Precision Event Impact Measuring

It is also critical to quantify event impact accurately for maximizing event ROI. Technology offers advanced interaction monitoring capabilities, allowing event planners to monitor attendee behavior and involvement during the event.

Digital technologies, for example, can improve in-booth interaction techniques. Interactive experiences and digital engagement strategies can be used to catch guests’ attention, collect vital data, and create unique in-booth experiences. Technology allows these methods and gives the tools to monitor their performance in real time.

Consistent communications

An event is typically considerably broader than the show day; it is a chance to engage with guests long before and long after the event. Event technology can play a significant role in ensuring that messages are personalized, relevant, and successful, maximizing event ROI.

Event apps are an excellent illustration of this in practice. The capacity to instantaneously communicate with guests is seen as the most important feature of mobile event applications by 62% of event planners. If the delegates need to act, making them is extremely simple.

momencio’s Full Potential Unlocked

Regarding the importance of current technology in optimizing and maximizing Event ROI, one platform stands out: momencio. momencio is an incredible event technology revolution, providing a complete range of solutions that precisely match the objectives of Event Planners and Field Marketers.

You’re not simply organizing events using momencio; you’re arranging flawless experiences. Its innovative features, such as real-time event information, in-booth interaction methods, and integration possibilities, enable you to maximize every event opportunity. The ultimate goal of this platform is to allow you not only to conduct events but also to create compelling and data-driven experiences that result in unrivaled ROI.

So, what are you waiting for? Contact us today to get momencio and lead your sales team on the path to event success!

related articles

◗◗empower your sales and marketing efforts

momencio
Free ebook - Don’t miss out!
the ultimate momencio faqs: mastering event lead management and conversion
The Ultimate momencio FAQs Mastering Event Lead Management and Conversion

Get to know momencio and why you need this event tool for sales

momencio is a revolutionary platform designed to bridge the event and sales gap, offering a holistic approach to event lead management and conversion.

*required: please add your full name and work email and we will send you a download link

momencio - AI Lead Enrichment

Overview

The AI Lead Enrichment is a proprietary service of momencio designed to simplify and enhance the
process of capturing and enriching lead information at any type of event.

By using momencio’s mobile or tablet app, you can use the device’s camera to take a clear picture of any form of identification, including, but not limited to, name tags/event badges/business cards. Our AI-driven service leverages OCR technology to identify any information captured and map any relevant data to a contact record. The contact record is then fed to our Lead Enrichment service, which creates a more complete contact record. The process provides exhibitors with the most accurate and up-to-date contact details available.

The Reality of Event Data Collection

In the dynamic environment of event floors, achieving perfect data accuracy can sometimes be challenging. Both traditional lead capture methods using event APIs and AI Lead Enrichment strive for
high accuracy, but various factors can impact the data collected:

  • Personal Email Usage: Some attendees register with personal email addresses.
  • Name Misspellings: Minor errors can occur during registration.
  • Generic Email Addresses: Use of addresses like marketing@domain.com.
  • Broad Registration Categories: Attendees might register under general titles (e.g., Biomedical
    Student).
  • Complex Company Structures: Companies with multiple sub-companies can complicate data
    accuracy.

     

AI Lead Enrichment is specifically designed to manage these scenarios, continually learning and
adapting to improve its accuracy.

Advanced Services for Lead Enrichment

AI Lead Enrichment leverages a suite of advanced tools and services to ensure the highest quality data retrieval:

  • Machine Learning: Continuously improves the accuracy of lead data.
  • AI (Artificial Intelligence): Enhances basic information with additional details.
  • Data Enrichment: Adds valuable contact details to enhance lead profiles.
  • LinkedIn Services: Provides up-to-date professional profiles.

Our Commitment to Excellence

AI Lead Enrichment excels in providing accurate data, yet certain edge cases may present challenges. These include:

  • Private LinkedIn Profiles: Some professional details might be inaccessible.
  • Personal Email Addresses: When registrants use personal rather than business emails.
  • Small-Scale Businesses: Limited online presence can affect data richness.
  • Self-Employed Individuals: Lack of company affiliation might limit available data.
  • Event Staff Contacts: Scanned badges may occasionally belong to event staff.
  • Extensive Sub-Company Networks: Complexity in identifying the correct entity.
  • Security-Sensitive Industries: Industries like military or government may have restricted
    information.


Despite these potential challenges,
AI Lead Enrichment strives to provide the best possible data,
ensuring valuable insights for effective follow-ups.

How AI Lead Enrichment Enhances Your Event Strategy

  1. Data Capture: Seamlessly capture attendee information such as first name, last name, and
    company name.
  2. Data Enrichment: Utilize AI to enhance this basic information with additional details like
    business email and LinkedIn profile.
  3. Immediate Engagement: Send personalized follow-up emails and provide links to personalized
    microsites to maintain engagement.

     

momencio’s AI Lead Enrichment innovative technology ensures high data accuracy and enrichment, significantly improving your follow-up strategies and boosting overall event ROI.

By operating independently of event-specific APIs, ULC offers versatility across various events while enhancing your lead capture and engagement efforts.

Additional Information on Event APIs

Traditional event APIs play a crucial role in modern event management, facilitating tasks like attendee data collection and session tracking. However, there are common challenges associated with these APIs:

  • Data Delays: Delays in data delivery can affect timely decision-making.
  • Inconsistent Data Quality: Variability in data quality can undermine event analytics.
  • Misleading Event Data: Issues like duplicates can lead to inaccurate attendee estimates.
  • Limited Data Scope: Traditional APIs might miss crucial information that enhances attendee
    engagement and event ROI.

     

momencio’s AI Lead Enrichment overcomes these challenges by offering enriched data with high
accuracy, making it a versatile and cost-effective alternative to traditional event APIs.

How AI Lead Enrichment Works

  1. Data Capture: Captures attendee information, including first name, last name, and company
    name.
  2. Data Enrichment: Enhances basic information with additional details like business email and
    LinkedIn profile.
  3. Immediate Engagement: Sends personalized follow-up emails and links to personalized
    microsites for continued engagement.

By leveraging momencio’s AI Lead Enrichment, you can transform event interactions into meaningful business opportunities, ensuring every lead is accurately captured and effectively engaged

free download
...

please add your full name and work email to download the pdf