Brian Cole is the co-founder, CEO and president of edgefactory. His vision for experience-based, technology-driven multimedia services fuels what edgefactory does. His perspective has been instrumental in shaping brands throughout his career. Since breaking ground in 1999, he has developed award winning, multidisciplinary resources for meetings and trade shows, brand environments and interactive technology, creative media and video production, and digital signage and A/V experiences. For more information, visit edgefactory.com.

Being a resource for the events and meetings industry means that the team at edgefactory and I spend a lot of time working very closely with event planners and organizers. I’ve been working in creative multimedia for different events, conferences and trade shows for more than 20 years, and have seen the industry move through many different trends and changes. Event planners have to pivot and adapt to changes, while as a vendor we have also had to shift and adapt to different changes in the industry. Post-COVID-19, in the sense of shutdowns and only virtual meetings, we have watched the landscape of the events industry change, and those changes may be here to stay.

The increase in virtual and hybrid events during the pandemic is a shift that isn’t going anywhere as, at the same time, new budgetary constraints are being grappled with due to supply-chain issues and inflation. Now that event planners are having to carefully allocate their budget and make tough choices between which elements to keep and which to cut from their event experiences, it’s important that planners know how to effectively maximize their budgets in certain areas. In-event digital media and A/V elements can be one of the most effective ways to leave a lasting impression on your attendees, and really drive home the event’s key messaging.

Next, we’ll be diving into the current climate of the events industry, and then speaking about why using digital media can be a good way to maximize your budget while getting the most out of your messaging.

The Events & Meetings Environment Inflation hits events

Prices and budgeting within the industry have become a very hot topic as of late. One of the biggest challenges we’ve witnessed, and have experienced ourselves, is the very sudden rise in costs. Supplies, in general, are much more limited after the pandemic. Almost every aspect of event pricing has seen a surge — from venue costs, to decor, to the cost of A/V technology, and especially, the cost of labor.

With events coming back faster than ever, competition and limited supplies are causing venues to increase their prices. The rise in costs of food and fuel is further impacting profit margins at venues, and that’s being passed along to event professionals. That same rubber chicken that used to cost you $70, is now going to run you about $100.

In terms of A/V elements, with the surge on A/V companies, in-house can be nearly double the cost of outside A/V vendors. During the pandemic, many A/V providers sold inventory or closed warehouses, so it’s much harder to get items in certain cities without having to freight it in. We have seen that gear prices have gone up due to supply/demand. The pricing that clients were used to pre-pandemic for gear has jumped in many cases.

Issues with freight are also nearly double what they were pre-pandemic, and it’s more expensive. Trucking equipment from Las Vegas to Los Angeles is double the cost it was pre-pandemic. On top of that, getting shipments right — and on time — is yet another factor we’ve seen eating up budgets.

As a vendor for event planners, we’ve also seen timelines shorten for completing deliverables for events. COVID has been such a disruption, so now planners are waiting longer to make decisions for fear of cancellations. For vendors, this means we are being asked to deliver on the same service on a shorter deadline than ever before.

Are Virtual and Hybrid Events Long-Lasting?

As we know, virtual events had their shining moment during the pandemic, mainly out of necessity, really. Although live events are now returning rapidly, virtual and hybrid events seem poised to remain a big player in the events and meetings space. Virtual and hybrid have their own setbacks, but they are also an exciting opportunity and tool if organized thoughtfully and effectively.

Virtual and hybrid events get a bad rap for being unengaging — some might even say boring, but these types of events are also an ideal place to utilize digital media to strengthen messaging and increase your return on investment.

Video has never been a more cost effective storytelling method, and this applies well in the conference and events space. Incorporating video media at an event can attract new audiences, increase customer engagement and deliver concise messaging.

3 Tips to Maximize Your Digital Media Budget While Creating Strong Messaging

Tip 1#: Reduce and Reuse

Using digital signage at your event instead of traditional print signage can be a great way to save money on the messaging and branding at your event in the long run.

Digital signage is much more flexible and customizable than traditional print. Digital allows for quick updates and edits to be made.

Once something is printed, you are stuck with it. An update or mistake needing correction on a print sign will end up being money from your budget and time wasted.

Digital signage can also be repurposed for multiple uses in a way that print signage cannot. Let’s say you want a sign for the Welcome Reception on Monday and Awards Dinner on Wednesday. With print signage, you have to purchase two different signs, one for each event. With digital signage, you can rent just one screen and repurpose it for both events. This also allows for you to customize and tailor your message more specifically. If you organize an annual event, you may opt for a more general print sign that can be reused in future years to save money.

With digital, you don’t need to hold back on updating your messaging and fully tailoring your media to each event, creating a unique experience and “wow” factor every time for attendees — even repeat ones.

Tip #2: Don’t Underestimate the Dynamic

If you are going to spend the money on signage, it needs to be memorable. If an attendee’s experience is not enhanced by these elements, they become forgettable and, ultimately, not a good use of your budget.

Print media and branding can be stagnant and uncompelling. A benefit to digital media is that there is no limit to what you can do. Digital media gives the option to create more dynamic and engaging messaging, and include animation using your brand or the event’s brand. Also, using dynamic motion content can enhance your brand experience. Fully animated digital signage enhances your messaging by drawing in the attendees and holding their attention, unlike stagnant signage.

People are bombarded by messaging and signage more than ever before, so it’s essential that your messaging is the one that stands out.

Tip #3: More Opportunities for Advertising

On top of the traditional messaging, digital media can be a really easy and creative way to add more opportunity for advertising. Digital advertisements can be easily customized and placed wherever you’d like them. One digital screen can scroll through multiple different ads, allowing you more opportunity to support your event budget with advertising.

Digital media can also be a great way to showcase and add more value to your event sponsors. For your partners, moments of exclusivity are a great opportunity to get exposure on every screen at the same time. Seen by all attendees, these big-ticket items are great ways to add flair to your events. | AC&F |