Should your company opt for its own event application?

The average Fortune 500 company organises or participates in at least 100 events every year. Event applications not only provide the attendees valuable information and networking opportunities, but also help the company that own the technology, collect rich user data and sentiments.

A great white-labeled, dedicated, on-site event application can cost anywhere between $5,000 – $10,000. What makes immediate sense is that companies should consider a long term play here and opt for a multiple event app, simply because of economies of scale.

But it is often easier said than done, when it comes to getting maximum value out of the event application. As mentioned in one of my earlier posts, event app engagement continues to be one of the biggest challenges in #eventtech . As a result, companies cite previous bad experiences and shun away from event apps.

Here is a simple scoring matrix you can apply to your organisation to gauge readiness in adopting event app. We take various parameters on rows, and a 1-5 scale in the columns

 

A framework to calculate usefulness of an event app for your company

Rules – Read the parameter on which scoring is taking place, and gauge where your company stands on a scale of 1-5

  Scoring Points 
Parameter 1 2 3 4 5
Organisation size (includes employees, dealers, agents, contractual staff etc) Less than 100 101-500 501-1000 1001-5000 More than 5000
Number of regions, branches or offices Only 1 2 to 5 6 to 10 11 to 20 More than 20
Centralised Events Team? No one in particular manages events Dedicated Events Team Events Team + SOPs and set vendors
Average number of attendees per event Less than 20 20-50 51-100 101-300 >300
Total duration of event 1-2 hours 2-6 hours 6-9 hours Full Day More than 1 day
Average budget of event Less  than $1000 $1000-$5000 $5000-$10000 $10000-$20000 More than $20000
Purpose of event Only information dispersion Information dispersion +survey/feedback collection 2 way communication, allow queries to be resolved Orientation, setting of targets, heavy networking Stakeholder incentive/Rewards
Age of average attendee More than 75 60-75 X X 20-60
Post Event Followup Not Required Only Feedback form needed Uploading of event photos/videos Uploading of all event info, query resolution Create a community engagement

Analysis – 

Less than 10 points – You are better off without having an event app. Either your audience is not ready or your organisation is not ready for procuring an app. Event apps require effort, understanding of technology, and a good content plan in place. They also make sense only if the event has a certain minimum number of attendees, and exists for a day or more.

If at all you want to opt for an app, you should make minimum investments. Have you seen our single event pricing on the Procialize Events App?

11-15 points – Your organisation must procure an app for any of the flagship events. The idea being, let maximum number of stakeholders experience. We are confident that the response will be fabulous. The key indicators for success of the app look really good. The organisation stands to benefit from introducing this wow factor within it

More than 15 points –Chances are that you are already using an event app, or have tried an app before. It is time to think of a single app across your organisation (marketing, sales, operations HR) to make it a multi-vertical multi-event app. Some of our clients who have already done so include Siemens, DHL, HDFC Life and Unilever.

Contact us for more info.

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