Our Events Experiences:
We have been to an event once in our life, whether it’s a party festival, theme park, local community program, or even family functions such as weddings. We all had a fair share of fun partying, dancing, gathering, and getting drunk and wasted (majority of the young and dangerous us). These are the night’s many claims “are worth dying for”.
But let’s face it since the COVID-19 pandemic hit the world. Events were never the same anymore. Whether it’s a music festival or the UEFA Euro championship, there always seems to be a missing element in all of them. Like the element of: “being at ease” or “freedom”.
With COVID-19 around, we are constantly and subconsciously worried about getting infected by it. And although we may be vaccinated, we still fear the worst – getting infected. There’s always this sense of uncertainty that instills discomfort in us.
So what exactly can events companies around the world such as Rafanelli Events, Bassett Events, MKG do to make attendees overcome this mental block.
How can Events Company do better:
1. Exciting & Interesting Events
An event is a failure if there is no one attending. Hence, the first step that events companies can work on is to create exciting events that will capture the attention and hearts of their participants! These can be in the form of fresh new event ideas (e.g. virtual run events, AR/VR events) or bringing back events with popular demand such as the Tomorrowland (yes, of course with the permission and approval of the government)
One tip to increasing their success rate is to conduct market research. For instance, having participants vote for events that they are keen on via polls. Another method that many companies have used is to open for pre-order (with discounts such as early bird discounts or referral programs). In this case, the demand can be easily forecasted while gauging if the event is worth pursuing.
2. Overcoming the Barriers & NO’s
The second step that companies can work on is implementing measures to ensure participants feel at ease when attending them!
One example is if the event is about sport and wellness and activities such as HIIT class is part of the curriculum. One preventive measure in due of the COVID-19 pandemic is transit from a group HIIT class with close interactions to individual space
Other solutions include hosting the events virtually or outdoor with minimal safety distancing. In this case, participants will highly say yes to the event and may even get their friends to join together! (BONUS)
3. Analyze & Re-organized (with Analytics)
Thirdly, another way for events companies to achieve business success is to monitor, evaluate and implement via analytics. Events companies should tap on analytics to help them identify current issues or shortfalls and predict future patterns or requirements. Analytics will help businesses to understand their demands and profitability. And help evaluate if specific events are worth an “encore”.
When equipped with proper training and certification and proper tools such as SalesForce, Google Analytics, or Power BI, processing data and information has never been any easier.
There are many online platforms that teach data analytics-related courses such as Coursera, or even the International Institute of Digital Marketing ™. These platforms offer a wide array of courses that you can pick from to upgrade yourself and level your business/
Powerful dashboards and well-summarized data will then help the management in their decisions process. Helping them plan for strategic decisions and activities such as planning for the next event based on past history with KPI such as highest participation rates, most profitable events, award winnings, and many more.
4. Be Creative and Innovative
Events are all about being fun, unique to help create precious memories for participants. The COVID-19 Pandemic has impacted business in all industries and the events industry is not any different.
One way to work around the impact is for events companies to be wild & creative. For example, sparking new ideas by taking old concepts such as a haunted house but tweaking it into a COVID-19 themed event where participants have to dress in cleanroom suits and fight against the COVID-19 disease!
Or perhaps having Netflix-themed events from popular series. Event companies can incorporate popular and interesting themes that fit into their customer interest such as Money Heist. Events companies can create a Money Heist theme room escape game or a Money Heist-themed music party in order to inject fresh concepts into their existing market.
5. Pivoting Businesses i.e. Virtual Events
To better suit the needs of consumers in the Events industry, events companies can consider pivoting their business and shifting their business model.
When COVID-19 happened, traditional businesses and meetings were all shifted to the online space because of the circumstances. This led to technology such as ZOOM, Google Meets, and Skype becoming the new norm of meetings
Therefore, some food for thoughts for events company is: ” Can our events be virtual from now on?” just like ZOOM and “how can I make it happen?
We understand that the experience may be different but the idea here is similar to how when meetings were initially shifted from face to online. Although it’s different, once it becomes normalize that’s where the acceptance starts.
Thus, events companies can consider having virtual events that work within the environments of participants such as having a virtual race that is clocked at one’s comfort. Or having a virtual room game where the participants could invite their friends/family in.
Alternatively, events companies can consider having AR/VR software implemented in their events to help facilitate these virtual events.
Following trends, it is predicted that most of the activities in the future can be done from home such as Retail Shopping from home, Work from Home, Entertainment from Home, Travel from Home, and many more.
Hence, events companies who provide a Events from Home experience may experience heavy benefits being the first-mover.
Eventually, a business pivot is fully flexible for businesses to decide. It can be retailing merchandise or coming up with new concepts stores that bind events together. The possibility is endless, thus take the chance to explore and be wild!
*Note: Changing the industry is risky & it’s a difficult decision to make. This strategy depends on the risk appetite of the management and belief of where the future may be. The important thing here is to do your due diligence and do the change only if you firmly believe in it!
7. Marketing, Marketing & Marketing
The final step after all this whole strategy process is to do marketing. Regardless of any products without marketing, the product/service can never go far!
Think of it as marketing is the mobility of the product (hands/legs), without marketing the product can only stay stationary and static. With marketing, these products then can walk and ensure maximum visibility and attention.
Therefore, it is important for an events company to start focusing their attention on marketing and getting their event out to the world. Events companies can start tapping on Digital Marketing and bundle them with traditional marketing such as billboards, newspapers, radio broadcasts. With Digital Marketing events companies will be able to target their audience accurately with specific demographics and behavior.
The final step after all this whole strategy process is to do marketing. Regardless of any products without marketing, the product/service can never go far!
Think marketing as the mobility of the product (hands/legs). Without marketing, the product can only stay stationary and static. With marketing, these products can “walk” and ensure maximum visibility and attention.
Therefore, events companies must start focusing on marketing. Events companies can start tapping on Digital Marketing and bundle it with traditional marketing such as billboards, newspapers, radio broadcasts. With proper channels, events companies will be targeting their audience more accurately based on specific demographics and behavior requirements.
Thankfully, for companies who are not familiar with Digital Marketing. They can work with marketing agencies to help them to do so. Take the International Institute of Digital Marketing ™ for example!
Fun Fact: In a world where information is abundant. It is important to note that fresh & eye-catching ideas may capture the attention of many! So, consider doing Guerrilla Marketing! Because you never know, you may just shock the world with your out-of-the-norm ideas!
With the correct marketing technique and tools, half of the battle is already won! All that’s left to do is simply implement the solutions and evaluate them. And you are good to go for your new adventure!
Written by: Bernard Teo who is a recent Content Market Analyst at the International Institute of Digital Marketing ™