Going mobile – from cost centre to revenue centre
Author: Aivar Laan, Founder and CEO, Festivality
Our team strongly believes that going mobile should not ≠ costs in the event budget, but instead bring new revenues for events.
To enable that event teams have to think about how to best monetize event apps. One way to achieve that is when mobile event apps can function as commercial toolbox to deliver value for the whole commercial ecosystem around events – performing artists, sponsors, merchants, vendors, exhibitors and brands, untapping new revenues both for these stakeholders and organizing teams.
Festivals, live events and sports events can earn revenues from a wide range of contextual mobile commerce ranging from event´s own offerings to fans (from tickets, upgrades, merch, experiences, services, bundles, event tourism packages) up to products and services from artists, merchants or vendors whose commerce at event can be facilitated through the mobile app platform with a suite of tools (preOrdering, mobile shop, one-tap mobile payments etc).
For outstanding conversion rates these offerings can be personalized and communicated to the fans at the right time and place during the event based on the smart profiling and data analytics tools available on a mobile supplier platform.
Mobile commerce at event settings is efficient only in case there is frictionless checkout for fans with accepting mobile payments natively in app.
Trade fairs and conferences can earn revenues through effective lead collection from exhibitors and sponsors, as well as advertising, visibility and sales promotion packages sold into event apps.
Mobile devices with smart event apps can provide a wealth of insightful real-time data that helps organizers optimize their events, tailor commercial offerings and create better user experiences.
Festivality is a platform technology for festivals and events to adopt smarter next-generation mobile apps, gain new revenues and actionable event and fan analytics. Festivality digitizes live events and turns them into actionable data. More: www.festivality.co