According to research from Hire Space, event budgets increased by more than 11% last year, demonstrating that the demand for ‘the next best thing’ is showing no signs of abating. For large companies, the pressure to offer the biggest, best and most lavish events can be tiring. But for smaller brands it’s impossible to compete.
From insurance and food costs to infrastructure and logistics, creating effective team building and training opportunities for staff is an ongoing pressure. Companies know they need to engage with their staff and provide high-quality events if they want to keep them onboard, but it can be costly to achieve.
By utilising the right technology, both companies and venues can minimise the costs and stress associated with building events.
Cost efficiency
Online or app-based games such as treasure or scavenger hunts are a cost-effective way to run events. When selected as an ‘add-on’ they can be incorporated into the overall cost of an event, in a way that traditional team building activities can’t. It’s a particularly good value for those who’re looking for a simple group game, as technology means you’re able to book an ‘off-the-shelf’ product that’s already been tried and tested in lots of different environments. Using a tech-based product also cuts down on the cost of materials, and allows more flexibility.
Engagement
A survey by Enterprise Event Marketing found that in addition to reducing event costs by up to 30%, utilising technology increased engagement by 20%. Smartphone technology has taken off in the UK like no other trend, so it’s no surprise that using it to support events can increase employee interest. While traditional team-building experiences like mountaineering aren’t always inclusive, technology allows you to better adapt your activities for a diverse audience, increasing its overall popularity.
Logistics
For some companies, the logistics of arranging big events can be overwhelming, while venues are often restricted by certain rules. From rigging up equipment to hiring food vans, a huge amount of thought and planning needs to go into the set-up before an event. By using technology for the team building section of an event, both companies and venues can cut back on the hassle and escape logistical challenges.
Flexibility
When companies look for traditional activities, they’re restricted to the type of venues they can hire. By contrast, a technology ‘add-on’ allows small companies more flexibility when it comes to their event. Unlike big hotels with in-built services, small properties and quirky venues can offer technology services as part of a wider events package. This leads to a more personalised service and allows even small brands to deliver an event with the wow factor they’re looking for.
Innovation
It’s known that large companies are more likely to struggle with innovation, due to the complex processes in place. There’s huge scope for smaller brands to use technology to their advantage and increase their innovation and creativity. Using technology to operate at least one aspect of the event takes away some of the organisational stress, leaving more time for venues and clients to focus on their delegates’ needs.
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