Are You Ready to Switch?
Event technology has taken hold of our lives in the past year of virtual events, it has been predicted that 75% of all business will be online events by 2024. Virtual events are quickly becoming the norm in our lives - at least for now. With many companies pivoting their online events strategy to virtually take place - many are now aware of the implications of not making the move. In 2018, the global events industry was valued at over $1,100 billion, the switch to virtual events is not only necessary to prevent a massive financial loss, but to transform and adapt in these uncertain times.
What actually is event technology I hear you ask. Well, it's any digital tool that helps you plan and produce an event. This could be an event management software, engagement tools, virtual platforms or mobile event apps. In response to Covid, this sector is evolving faster than ever. In the last year we’ve seen an increase from 100 event technology platforms on the market to now past 300. We recently wrote a blog explaining the event tech market, and what the landscape looks like with all of the platforms - take a look here. According to Bizzabo, 90% of event professionals believe that this technology can have a massively positive impact on the success of their events. Virtual events have many benefits to them, including the below:
- Larger geographical reach
- More sustainable (goodbye to the days we used to stay in hotels for events!)
- More convenient
- Great engagement (if the event is planned correctly!)
What is the big switch?
So, what does the big switch mean? Well, many organisations rushed to take their events virtual last year when the pandemic came crashing down on us in March 2020. This meant that many event organisers didn’t really understand the virtual market, and weren't sure on what event technology was out there to begin with. Understandable that many event organisers wanted to take their events virtual to increase connections and provide more value for attendees and exhibitors. As Joe Biden’s team came to understand last year, taking an in person event like a political rally and quickly substituting it with a virtual event is dangerous. Martin Richardson, Founder of Ten Thousand Hours has said that to take an event virtually successfully "I have urged clients not to just jump to this in a knee jerk fashion. It's a good time to review objectives for events and evaluate if online/virtual will fulfil them still."
The big switch refers to event organisers who rushed into their event technology platform decisions, wanting to change strategies as there is a whole range of information out there now. Just like with your gas or electricity providers, of course it's human nature to look for the best deal and the best bang for your buck. Back in March 2020, there was very limited information on who to trust, what platforms were on the market and how to even run a virtual event (this is what we live and breathe, still need help with this one? Email us!) Since the pandemic hit, there have been many virtual event experts releasing information in video, blog and podcast form to fully explain the sector, what platforms to trust and where to start when organising virtual events.
Where to start?
Research, research, research! There is so much information out there for event organisers, be aware of the features you require and write these down. If you’re switching platforms now, it could either be down to the price or now being aware of what other things are on the market. If it's the price, think about what strategy you have. We recently wrote about being aware of your strategy which you can read here. If it's a long term event - have you thought about an annual license? If so, be aware of what platforms offer this service. If you’re switching because now you’re fascinated with all of the other choices on the market, then be aware of the features you require in your package for your virtual events. It can be so easy to be swayed off track with all the exciting new features out there.
Start by narrowing down your options. It can be overwhelming with over 300 event technology companies on the market, so if you're unsure where to start - book a call with us so we can discuss our platform search and select feature. Narrowing it down is the best place to start - start by reading up on all of the different package types and how they could benefit you. On average, buyers spend over 16 hours on event technology demos - so we would recommend not to go on a demo of every single platform out there (or you will be busy for a very long time!) It pays to shop around, so narrow down your search to a couple and then it's the time to decide on what platform demos to go on and what will benefit you.
What should I be looking for on a demo?
Platform demos are your time to ask all of the questions you have, be clear on what you want to achieve before the call and ensure you’re being transparent with the provider - as they will want to help you reach your goals. We always recommend to our clients to go to the demo with a clear list of questions to ask, to make the most of your hour with them. Have a think about the six questions below:
- What's included in this package?
- Can you meet my objectives and goals?
- What sector or industry is your platform best for?
- Are there any hidden costs or add ons?
- What customer support do you provide?
- What access and control do I have of the platform?
Seek unbiased feedback
Many organisers may be in the process of switching platforms, or wondering how to do so. Never underestimate the power of your network and peers. Speak with them about how they found switching, and what advice they have. Of course, speaking with the platforms you can do too but be aware they want your business (and so may not be very unbiased.)
Contact a company like us at EventMind. We work on an unbiased basis, and have over 200 event technology companies on our database. We provide a service where we narrow down the platforms based on your requirements, to then give you the information you need to go ahead with choosing the platform.
Confirm the switch
Once you have decided upon what platform you wish to switch to, now’s the big part - the time to switch. Before confirming your contract with your new platform, ensure there are no clauses in your old contract with your current platform to check there are no fees for leaving. Once you have decided upon the switch with your new platform, the platform will be in touch to confirm payment and next steps.
Summary
Switching platforms can be scary if you’ve used the same platform for the last year for your events. However, like anything in life - it's good for a shake up within the business and try new technologies once you have researched and understood the current market. With the event technology market on the rise, there’s so much free content out there to help you switch, but if you’re still concerned on the steps to do this, contact us!
EventMind does not endorse any particular virtual event platform or software. We review the platforms available on the market monthly (through a combination of client feedback, test events and demos). If you're looking to make online events simple, or want trusted and unbiased advice, then contact the team today by emailing [email protected] or calling 0330 133 3485. We are always keen to get guest contributors on our blog, if you'd like to write a blog on our site and be fully credited, please email [email protected]