Managing an event on scales big or small is no walk in the park. Sometimes it’s tight purse strings, and sometimes it’s a lack of manpower. Sometimes, the publicity leg turns out to be underwhelming, and sometimes it’s dealing with hoards of crowds and their safety. Anyone looking to make it big in the event industry must foresee the potential troubles cropping up across the event.
Over the course of this blog, we will go over 7 of the biggest challenges faced by the events industry and provide practical solutions to overcome each of them.
Let’s get started!
7 Biggest Challenges in the Events Industry and Ways to Overcome Them
1. Strenuous Budgets
Money. Capital. Finances. Resources. Call it what you want, but it doesn’t change what is perhaps the biggest factor affecting the outcome of an event – the budget. And when you consider the ever-widening gap between inflation and revenue? Nothing in the event industry is more important to get right.
Solution: A well-planned budget! Now that sounds like an idealistic thought, but once you figure out how to strike a balance between being stingy and magnanimous? The world is your oyster. Consider reading our piece that covers some nifty techniques to get your event budget planning right.
2. Keeping Up with Technology Trends
Technology is on a one-way rollercoaster that is only going up. So it’s no surprise that event technologies have evolved significantly in the last decade. But a more surprising fact is that using the relevant technology can boost your attendance by 20%, increase productivity by 27%, and decrease costs by as much as 30%!
Solution: Stay updated. Set up Google Alerts (another nifty piece of technology) with keywords like event industry, latest technology, developments, etc. Also, remember to network with fellow people in the event industry and keep an eye on what they’re doing.
3. Increasing Event Attendees
This is ultimately what the onlookers will judge the success of your event by. By how many people attend your events. Reaching out and attracting new attendees is always a huge challenge, especially with time being a more precious commodity than ever these days.
Solution: Two words: event marketing! This is the domain where refined skills make a difference. But don’t forget about social media marketing and event promotion to win attendees online and boost fan engagement.
4. Finding New Sponsors
We talked about the budget being the make or break in the event industry. Well, here’s another way to add a few zeroes to that column. Not to mention the extra engagement boost sponsors can provide. But how do you attract valuable sponsors in the first place?
Solution: It’s all about goal alignment. Understand your sponsor’s objectives and who their target audience is. Better yet, aim to onboard sponsors whose TA is closely aligned with that of your event. And to enhance your pitch, create action plans with projected Return On Investment (ROI) for the event as well as their brand and build a positive relationship with them for now as well as in the future.
5. GDPR: General Data Protection Regulation
Government data protection laws are like the weather in New York during spring. Unpredictable, catching people off-guard and under-prepared. And just like being stuck in an off-season rainstorm, non-compliance with government data policies surrounding the event industry can be a costly affair.
Solution: To comply with GDPR, you need to:
- Change the data collection method
- Alter your marketing strategies
- Implement a robust compliance system
And it’s not just about escaping the government’s wrath. GDPR allows attendees as well as sponsors the confidence to associate with your brand. It is vital to keep your attendees’ information secure. Read how Yapsody complies with GDPR policies here.
6. Security
Whether you’re Chris Rock at the Oscars or Dave Chappelle at a stand-up event, you cannot be too safe these days. Ensuring your patrons’ safety is vital, but so is avoiding unnecessary restrictions on their movement that might make them feel uncomfortable.
Solution: Create a robust plan with a list of measures like
- Appropriate surveillance systems including drones, cameras, trackers, and motion sensors
- Sufficient physical security and medical support
- K-9 unit for drug and explosives detection
Implementing these measures will secure event attendees and enable them to enjoy your event without any second thoughts.
It’s 2023 – a golden age of technology. While tackling the event industry’s challenges may not be a walk in the park, accessing the best technologies to have ever existed is simpler than ever.
Yapsody’s online ticketing system can help you exceed your attendees’ expectations and help them create a memorable experience.
So what are you waiting for?
Start planning your event today!
Also Read: Top 6 Event Industry Trends for 2023
