Helpful information for event managers.
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The potential use of event management software often confronts companies with the question of whether the use of an additional software solution provides the necessary added value. This always raises the question of whether the challenges in event management cannot be solved with existing applications. This article provides the most important answers.
There are various conditions in which the use of professional event management software offers an advantage for a company:
If one of the above criteria is met, professional event marketing — and thus the use of event management software — is essential, regardless of whether events are used for customer acquisition, internal communication or for training purposes. If, analogous to digital marketing, relevant KPIs are also to be measured and analysed, there is certainly no way around event management software.
The use of event management software is primarily used to to improve the efficiency and measurability of event activities. Central to this is that the solution helps event managers achieve their goals. The goals of event managers may differ from company to company. The following examples provide an overview of possible goals of event marketing:
The use of professional event management software supports the achievement of goals by achieving automation and professionalisation in the following areas.
Companies that do not yet use professional event management software face the following challenges with existing applications such as CRM, CMS and newsletter solutions:
Does using event management software pay off? This question must be answered individually for each organisation and depends on the individual objectives. Certainly, some benefits of event management software are difficult to measure in monetary terms. However, with improved productivity through automation and thus the cost savings for a company, a “return on investment” can be calculated using the following formula:
All costs that arise due to the use of event management software. In addition to license costs, this can also include one-time implementation costs.
Automation and preconfigurations save time in the form of personnel costs. Personnel costs are reduced by between 50%-85% by automating event management software, depending on the number of participants.
At best, systems are used which are no longer used due to a holistic event management solution and can therefore be saved.
From this, the following formula can be used:
ROI in% = (net savings/ total savings * 100) * (total savings/ total costs)
Using event management software costs a company CHF 5,000 per year. With five events of 500 people each, the company saves CHF 7,000 in personnel costs per year thanks to the use of event software. In addition, it no longer requires peripheral systems worth CHF 1,000. The example gives the following ROI:
ROI = (3000/8000 * 100) * (8000/5000) = 60%
With the use of event management software, an ROI of +60% can be achieved in this example.
The more participants an event has, the more productivity can be increased with event management software.
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