posted on: Wednesday, 18 May 2022
by Browncord Events

Tags:   Event Services / Business Growth and Marketing

Just like every other organisation working together, there is always a community behind every success in whatever field the industry is in. In the same case the Event Industry is no exception as it composes a community (the organisers, the event service providers, the sponsors and the attendees) to come up with a successful event. The community is now what is referred to as the ecosystem.

The ecosystem is said to be the backbone towards an event well planned of course all the ethics and disciplines put in line. The community of stakeholders are in charge of the event technologies and venue locations.

An event is put in place together to create connections of different kinds which the factors are well known by the stakeholders (community in which event is managed by). The ecosystem creates the relevant connections based on the biotic and abiotic factors within the environment (ie food chain). This will definitely be a means of survival for all the living things within the ecosystem.

In reference to the event ecosystem, I strongly believe that the purpose of the events are to create linkages between and among stakeholders. These linkages are created at the event, where the sponsors and event service providers can discover opportunities and most importantly, meet face-to-face with relevant others.

Thing is, the unseen task of facilitating the establishment of these relevant links is a huge and dainty task that many event organisers avoid. Why? Just because human beings and their dynamic nature are unpredictable! Attendees are selective with who they want to meet, and their networking needs vastly differ from each other. Furthermore, the operational load needed to execute a system for relevant peer-to-peer matching requires a loadsome amount of money, time and skilled manpower to get it right. 

The question to be put in place is this. Would putting the effort to have a business matching system really make the difference? What is the ROI on having an offering like that at your event?

The answer for me is gathering pertinent and dynamic data of how the stakeholders at your event are interacting. Besides,  these stakeholders are very fundamentally your 'intellectual property'! By that, the reasonable answer would be improving the the level of event satisfaction and prompting the attendee experience of the event.

Events can quantify and qualify the networking potential of the event when a business matching system which funnels the corresponding data onto a central platform.

With these data sets, we can finally get the answers and solutions that we've been digging for. And maybe, we can prime ourselves to prevent this 'lack of perceived value' that is pervading our event industry.

Organisers ought to know how many meetings their delegates made with others, understand the experience of VIPs at their event and even identify the top affiliates. This information is narrowed down and transformed into strategies that can be used to improve events. The information for example can be used to identify customers with the most potential value, and even ease budgeting and more. All these can help better the experience of the attendees and increase the event's ROI.

The data collected after the event help the organisers to play a more active and personal role in contributing to the event satisfaction of delegates. This is because they would then be aware of the delegates wants, the would then be in a position to make it possible.