The event technology marketplace is changing faster than ever before. With COVID-19 as a catalyst, the industry is in the early stages of a period of disruption and innovation that is unprecedented in the history of the industry. The next few years will see a continued influx of investment capital in digital solutions, new entrants into the marketplace from outside the industry, mergers and acquisitions, increased levels of innovation, and a continued focus on maturing data-centric solutions.
These dynamics create an opportunity for organizations that are effective in evolving their strategies and execution to capitalize upon the changes. The dynamics are equally as detrimental to those organizations that are change-resistant or lack the resources to chart their new paths to success. Due to the pandemic challenges, many organizations find themselves resource depleted at a crucial strategic time in their existence. Successful organizers will be those that have created a forward-focused digital transformation strategy, have evaluated their current tech stack against the vision, and are investing in and executing the evolution of their technology ecosystem.
It’s essential that modern systems are deployed that provide users with easy-to-use and personalized experiences that result in centralized and consolidated data stores. These data sets can be mined and leveraged to improve overall value to the community, grow audiences, increase retention, and increase revenues.