Be it a star-studded wedding like Vik-Kat’s or an IPL game, there are no events that event management companies can not run beautifully.
Event management firms organise functions or events such as annual meets, weddings, reunions, fundraisers, sports events and more.
Even if one individual owns the company, organising an event and pulling it off is a matter of teamwork and collaboration.
But with the pandemic here, did you ever wonder how these companies managed to stay in business?
Event management companies during the pandemic
Like every other field, the event management industry fell short of business when COVID-19 hit the world. But as soon as the lockdown lifted, clients started approaching the firms again.
If you take an example, pandemic weddings are a thing now in our country, the lavish events curated under the restrictions imposed by the government.
There are several events conducted online too.
According to Statista, the revenue of the organised events industry was estimated to be over 100 billion Indian rupees in the financial year 2021, up from around 66.1 billion rupees in the financial year 2018.
Current event management trends in India
Despite several events during the pandemic, the current situation forced the event management industry to move most of its operations online.
Eventually, that led the companies to become a trendsetter in the industry.
Event management firms adopted a few methods like:
1. Live stream
Nowadays, live streaming is a common trend, especially at wedding functions. The reason behind this idea is to reach more audiences.
Since the number of guests is limited because of COVID protocols, YouTube or other streaming sites have made it easier for others to be a part of the function.
2. Engaging social media content
Like any other company, event management companies have also taken to social media platforms to promote their business. Posting fine pictures from the events one organised and updating current projects will engage the audience. The audience can even share the posts they like, leading to more views and reach for the firm.
3. Experimental Marketing
Experiment marketing is a concept that includes techniques like Virtual Reality, 360-degree photo experiences, projection mapping and more. A few event management companies adopted it to help give their clients an idea about the events they are planning by offering a virtual tour of the setup.
4. Specially designed mobile apps
These firms have designed apps that help clients connect with their event managers. Also, some apps help the client find their perfect venue for the event with a single tap. Thus, making the job easier for both the manager and the client.
Challenges faced by the event management companies
In this time of anticipation, there are barriers while planning an event.
1. Government protocols and health and safety
The event management team should make sure that they follow the rules set by the government that can change from time to time.
From the number of guests to event timing to social distancing, they must ensure that the team and the guests follow all the protocols.
2. Uncertainty of the future
The events that are already well-planned and arranged could get cancelled because of the rise in Covid cases, curfews and lockdown. The time and money invested could go to waste.
3. Getting acquainted with technology
Most of the operations have moved online ever since the pandemic hit us. So, it is important to keep up-to-date with technological aspects and the social media language that’s required for the business.
4. Day-to-day functions
To run an event, one has to pay for the vendors, caterers, photographers and more. With less cash inflow and the increase in the price of items and props, it’s challenging to pay the usual retailers.
Future of the event management firms
The event management firms will keep growing despite the current situation. Also, people have changed and so have their lifestyles. One is likely to spend money even to organise an event at their home for their loved ones.
Now, since people are getting adapted to the fast-paced technology, it is possible to curate an event in many forms:
- Zoom conferences
- Virtual concerts
- Hybrid events
- Outdoor events
- Small-scale live events
From adaptable planning to expecting anything, one can always devise a Plan B. Investing time and money in technology these days will only benefit the business, along with focusing on health and safety.
To look at the bright side, it will be an opportunity for the event organisers to expand their venue and audience via virtual events. It will be a great platform to showcase their hard work and creativity.