← Back to Blog

Tuesday, December 18th, 2018

Organize Successful Events with Premium Quality Asset Management System

Event management comes with its own set of challenges and complexities. You need to know the basics such as eventbudgeting, measurement of ROI, location selection, risk and crowd management,HR, vendor management, law, sustainability practices in events, and so on. Theevent management industry is a stressful and multifaceted industry where youneed to work tremendously hard to ensure that the event achieves its desiredobjectives. Large scale events are often resource-intensive and high-budgetactivities, which is why it is important to know how to organize a successful eventwhich achieves the objectives for which it was conceived.

Impeccable planning and execution of an event is not an easy task by any stretch of the imagination. It is not within everybody’s capacity to deliver sophisticated events—those which meet its objectives and also remain within budget. With so many moving parts to an event, the slightest misjudgment or negligence anywhere could turn your event into a dreadful nightmare. A discerning eye for detail, along with high levels of creativity and a desire for excellence, is imperative for making any event successful. Irrespective of whether you are planning a trade show, webinar, conference, event, exhibition or concert, you will need help from various quarters to ensure that the event serves as a catalyst for the growth and development of your organization.

Events, exhibitions and conferences are important as they allow businesses to enter new markets, acquire new stakeholders, expand their client base, and open new avenues of communication with their present and potential customers. This fact is well understood by modern organizations and reflected in a healthy growth rate for the event market at close to 9 per cent per annum. It is also estimated that the annual event market will be worth more than US$9 billion by 2020.

ROI of an Event

However, calculation in quantifiable terms of how successful an event has been is imperative to gauge its success. It is also important from an investment point of view as measurable gains can convince the purse holders to shell out more for events you may be planning in the near future.

The good news is that measurement of ROI is not only possible, but downright simple. The solution lies in setting measurable goals and objectives for your event well in advance. This comes from answers to questions like:

  • What is the primary objective of holding the event?
  • Is the event being held to generate brand awareness and qualified leads?
  • Do you wish to expand your reach by attracting new customers, or is the event being organized for a product launch?
  • Do you wish to cement your relationship further with your existing customers, or is it all about building community relations?

Once you have found the answers to these questions, it is time to match them with the main purpose or objective of the event. While other goals and objectives are important, do remember that they are not essential to calculating your ROI. They can be put on the backburner for now. It is important to have a primary objective or, at the most, two secondary objectives. This allows you to devise tactics, follow-up strategies, and keep your efforts focused on achieving the primary purpose of the event.

Event Management and Asset Management Software

While there are quite a few good quality software available in the market that help with various aspects of event management such as registration, ticketing, marketing etc., an area that lies neglected is asset management. In the following section, we shall discuss how a premium quality, customizable asset management software can help you pull off an excellent event with record-breaking visitor footfall.

Top quality asset tracking software plays a critical role in making any event a success by providing a clear roadmap for event management companies. The primary benefit of asset tracking software is its ability to streamline the process through which you can keep a close tab on all the equipment required for the event.

A top-of-the-line asset management software significantly brings down the cost of hosting an event. It augments efficiency as you can easily optimize your business process by knowing well the things that work and do not work for you. Having the data at your fingertips facilitates effective and efficient utilization of resources and also allows you to see associations between employees, warehouses, event halls, and items, to ensure that the event achieves its objective against pre-set measurable targets.

An average event, conference or trade show that evokes a tepid response can sully the reputation of an event management company. Trying to execute events without a strategic focus is a threat to ROI, not to mention reputation, if delivery fails due to poor planning. It is the reason many reputable exhibit management companies usually spend between five to eight weeks planning an event. A lot of this time is spent going back and forth between different departments to finalize what needs to be done as no one wants to leave anything to chance. Knowing what’s on hand is an effective way of minimizing time wastage. An asset tracking software helps you keep tabs on what equipment is available, what is being utilized, where they are currently, and when they will be available again among other things. Armed with this information, you can prepare for any eventuality and make maximum utilization of your resources. 

Icon1 Asset Management Solution

The icon1 premium quality asset management portal mitigates risk, reduces costs and improves ROI by helping you keep a close tab on assets utilization and productivity during the entire event. Right from planning, requisitioning and allocation to maintenance and relocation, our asset management system is a one-stop destination to find, collect and utilize information to streamline the planning, organization and deployment of assets in any large scale event, trade show or conference. Icon1 enjoys an impeccable reputation for delivering highly customized software solutions like Asset Management Systems, Conference Management Systems, Registration and Onsite Solutions and Event Express Management under a single roof. With multiple integration capabilities, a dedicated support team and extensive experience of organizing hundreds of events annually, icon1’s asset management solution provides clarity and control over what you own, where they are positioned, and who is using them and in what way, etc. Call us at 1.866.413.2027 or fill up the registration form and we will get in touch with you.