Event Management Industry Pivoting through The Ongoing Pandemic

The industry outlook for the event management industry, an industry that is reliant on social gatherings, seemed undecided when the pandemic has led the world to a standstill. But the innovative and buoyant, outdoor entertainment has now started retooling for the future. With the industry starting to slowly adapt itself to the new normal, the educational institutions imparting event management courses have taken a step ahead in innovation to tide over the crisis. Event management organizations across the country are offering training practices as per the socially distant knowledge while guaranteeing to keep it at par with the physical classroom experience. 

Going by various studies shown, about 94% of companies in the event industries are aiming at discovering the segment of digital IPs to enable amended consumer attraction and retention in the coming months. Industry experts suggest that measured industry changes will be recognized, which will involve 3 primary phases – phase 1 will require boasting about wired events, followed by phase 2 that will mark a gradual start of physical experience with restricted attendees, and finally, the phase 3, wherein the whole industry is predicted to bounce back stronger.

Below mentioned are ways by which event management institutes are taking indications from an industry that is adapting to the global crisis to guarantee a smooth learning process:

  1. Hybrid events becoming a standard: The pandemic has shifted the focus a bit for event management institutions. The industry has been turning to digital experiences like hybrid events featuring a blend of virtual and live components. This model enables several students to be present at a physical location, while the audience at large attends the event remotely. With there being no understandable sign of going back to a world of in-person-only meetings, in the near to mid-term, hybrid events offering in-person and digital contributions will be standard. Despite running parallel with shared moments of engagement, hybrid events should be strategized as two distinct user experiences. There are a host of online event podiums like webcasts and 3-D immersive worlds, so understanding which one will achieve on the organisation and participant goals is of prime importance.
  2. Creating ‘omnichannel’ experiences: Prioritizing your audience requirements and understanding how the students would like to involve and with what content is vital in easing to build an engaging experience. With the event industry changing to become hybrid or omnichannel in the future, organisations will have to generate content, communities, and experiences that will help involve the audience in the medium they are most comfortable in. The institutes need to be forward-thinking in accepting new business models and skills development, which will simplify recovery and fuel growth.
  3. Training students with modern advertising techniques: The pandemic times have noted the growth of consumer-centric, dynamic, and engaging advertising techniques. With consumers being restricted to their homes, their social media usage has increased. In the wake of this trend, some organisations are educating students by resorting to virtual platforms by dedicated pop-ups, engaging in live streams, and landing pages to drive traffic and to enhance viewer participation.
  4. Ramping up experiential marketing: This new-age marketing approach is being adopted by institutions to equip students with immersive brand experiences. Such engagement marketing technique highlights promoting differentiated experiences designed to help students connect with brands. 

By binding innovation, the events industry continues to play a momentous function, even during these challenging times, and this development will be vital not only for its survival but also its success in the upcoming years.

About the Author

Mr. Vipul Solanki is the Director of NAEMD – Nest Academy of Event Management and Development.