Events_CJM

Event Industry and Experience Economy

• Focus on the growing significance of the event industry within the larger context of the experience economy.

• Key component of customer engagement and interaction.

• Importance of Customer Journey Mapping (CJM).

What is an Event?

• Definition: An event is

  • Time and space bound.

  • Planned and goal-oriented.

  • Targeted towards a specific customer segment.

  • Can be one-time or recurring.

  • May occur in physical or virtual spaces.

• Events serve various purposes: celebration, training, marketing, or meetings.

• Categories can be based on size, type, and context, with various formats available.

The Event Industry

• Definition: Professional activity related to organizing events that generate turnover.

• Enhances the value of encounters, creating productive experiences.

• Acts as platforms for distributing content in various formats.

• Events result in intangible outcomes.

• The event industry is not officially classified as a distinct industry.

Overview of the Event Industry

• Approximately 3200 companies in the event industry nationwide.

• Total industry value: EUR 2.35 billion.

• Employs nearly 200,000 people.

• Event organization often relies on modern cooperation networks.

• Various roles overlap in the industry: main organizer, lighting designer, sales agent, employment agent.

• Significant economic impact on related sectors: accommodation, food & beverage, transportation, retail.

• Events positively contribute to business, trade, public welfare, and democracy.

Relationships in the Event Industry

• Different layers within the event industry:

  • Core: Events generating turnover.

  • Immediate surrounding businesses: Catering, space rental.

  • Outer circle: Consumption generated from events but not directly tied, e.g., buying shoes for a festival.

Business Areas in the Event Industry

• Organization of Events:

  • Production, coordination, and planning either independently or by external orders.

• Event Space Rental:

  • Indoor or outdoor space rental for events.

• Performance & Programme Services:

  • Planning programs, booking performers, and content creation.

• Event Technology Services:

  • Sale/rental of audio, visual, and technical equipment.

• Construction Services:

  • Stage design, temporary construction, furnishing.

  • Ticket Sales Services:

  • One-time or ongoing ticket sales.

  • Event Ancillary Services:

  • Catering, security, and staffing.

  • Digital Event Services:

  • Systems for registration, payment, networking.

  • Design & Consulting Services:

  • Marketing for events, sponsorship agreements.

Types of Events

• Categories based on content and format:

  • Cultural: Art, music, festivals.

  • Business: Conferences, trade shows.

  • Education: Seminars, workshops.

  • Sports: Matches, competitions.

  • Private: Weddings, parties.

Employment Opportunities in the Event Industry

• Growth in demand for career options as the industry evolves:

  • Roles such as event assistant, coordinator, project manager, and virtual event specialists have emerged.

  • Major employers include event agencies, conference hotels, and large organizations.

• Volunteer roles are vital as event assistants.

Finnish Event Industry Association

• Central organization promoting event industry business activities

• Founded on June 10, 2020, with 240+ members.

• Represents major players across various event sectors.

Case Studies

• Helsinki Summit 2018:

  • Significant media coverage and international attention.

• Virtual May Day 2020:

  • Finland's largest online event with massive viewership.

• Life for a Child Concert:

  • Charity concert making considerable donations.

Customer Journey Mapping (CJM)

• Definition: Visual representation of the steps a customer goes through in experiencing a product/service.

• Importance of CJM:

  • Helps visualize the customer's experience across various touchpoints.

• Goals of CJM: To enhance customer understanding and engagement at each stage.

• Elements include:

  • Stages of engagement, customer feelings, channels.

Importance of Customer Touchpoints

• Each touchpoint is an opportunity to strengthen the relationship with customers.

• Well-designed touchpoints enhance overall customer experience.

• The journey should cover every interaction from initial contact to repeat purchases.

Designing the Customer Experience

• Emphasis on the importance of the design of each touchpoint.

• Each interaction contributes to customers' overall perception of the brand and their journey.

Conclusion

• The event industry continues to evolve with new opportunities, especially in design and customer engagement.

• Understanding the customer journey is essential for success in this dynamic field.

Event Industry and Experience Economy

• Focus: The event industry plays a vital role in the experience economy, which emphasizes the importance of memorable, engaging experiences for consumers. Events enhance customer engagement and foster personal interactions, creating lasting impressions.

• Customer Journey Mapping (CJM): A strategic approach to understanding the various stages a customer goes through when interacting with events. CJM is crucial for tailoring events to meet customer expectations and improve satisfaction.

What is an Event?

• Definition: An event is characterized by its time and space constraints, is planned with specific goals in mind, and is targeted towards a particular customer demographic or segment.

• Types: Events can either be one-time occasions, like a product launch, or recurring events, such as annual conferences.

• Format: Events may take place in physical settings, like conference halls or outdoor venues, as well as in virtual environments like webinars or online summits.

• Purposes: Events serve many purposes, including celebrations (e.g., weddings, anniversaries), educational activities (e.g., workshops, lectures), marketing campaigns (e.g., product launches, trade shows), or corporate meetings (e.g., annual general meetings).

• Categories: Events can be classified based on factors such as size (small, medium, large), type (business, social, cultural), and context (formal, informal).

The Event Industry

• Definition: The event industry encompasses the professional activities involved in the planning, organizing, and execution of events designed to create marketable outcomes and generate substantial economic activity.

• Value Creation: Events enhance encounters by creating meaningful experiences that lead to intangible outcomes, such as brand loyalty and customer satisfaction.

• Classification: Despite its significance, the event industry is not officially recognized as a standalone industry in many economic analyses, complicating its valuation and impact assessment.

Overview of the Event Industry

• Industry Statistics:

  • Approximately 3,200 companies operate within the event industry across the country.

  • The overall industry value is estimated at EUR 2.35 billion, contributing significantly to the GDP.

  • Nearly 200,000 employees work in various sectors associated with events, including planning, execution, and ancillary services.

• Collaboration Networks: The organization of events frequently relies on networks of collaboration that allow various stakeholders to contribute their expertise effectively.

• Roles and Responsibilities: Roles within the event industry can overlap, including positions like event coordinators, lighting designers, and sales agents, showcasing the collaborative nature of the field.

• Economic Impact: Events create positive ripple effects on related sectors, including accommodation, food & beverage, transportation, and retail, illustrating their broader economic importance.

Relationships in the Event Industry

• Core and Surrounding Layers:

  • Core: Events that generate direct revenue and turnover.

  • Immediate Surrounding Businesses: Companies providing services essential for events, such as catering and space rental.

  • Outer Circle: Economic activity generated by consumer spending related to events, such as purchasing attire or accessories for festivals, which although indirectly related, still stems from event participation.

Business Areas in the Event Industry

1. Organization of Events:

   • Involves comprehensive production, coordination, and planning activities.

2. Event Space Rental:

   • Rental of venues for hosting various types of events, both indoor and outdoor.

3. Performance & Programme Services:

   • Involves scheduling, booking performers, and creating content for events.

4. Event Technology Services:

   • Provision of audio-visual and technical equipment necessary for successful event execution.

5. Construction Services:

   • Includes stage design, temporary constructions, and other furnishing requirements.

6. Ticket Sales Services:

   • Management of ticket sales, which can be for single events or ongoing series.

7. Event Ancillary Services:

   • Catering, security, and staffing services necessary for event management.

8. Digital Event Services:

   • Tools for registration, payment, and networking at events, especially crucial in virtual settings.

9. Design & Consulting Services:

   • Involves creating marketing strategies for events and handling sponsorship agreements.

Types of Events

• Cultural: Art shows, music festivals, community celebrations.

• Business: Corporate conferences, trade shows, product launches.

• Education: Educational seminars, workshops, and training sessions.

• Sports: Sporting events, competitions, and community sporting festivals.

• Private: Personal events such as weddings, birthdays, and family reunions.

Employment Opportunities in the Event Industry

• The event industry is expanding, leading to increased demand for skilled professionals.

• Emerging roles include event assistants, coordinators, project managers, and specialists in virtual events.

• Employers typically consist of event management agencies, conference facilities, and larger organizations.

• Volunteer opportunities are also key within the industry, providing vital support during events.

Finnish Event Industry Association

• A central organization established on June 10, 2020, serving to promote business activities within the event sector.

• Has over 240 members, representing significant players across multiple event-related sectors.

Case Studies

• Helsinki Summit 2018: Attracted extensive media coverage and international acclaim due to its high-profile nature.

• Virtual May Day 2020: Notable as Finland's largest online event, breaking viewership records.

• Life for a Child Concert: A charity concert raised considerable funds, demonstrating the philanthropic potential of event organizing.

Customer Journey Mapping (CJM)

• Definition: A visual depiction of the various stages a customer experiences when engaging with a product or service, especially in the context of events.

• Importance of CJM: Enhances the understanding and engagement of customers at every interaction point, thus improving overall satisfaction.

• Elements of CJM: Stages of interaction, customer feelings throughout the process, and the channels through which they engage.

Importance of Customer Touchpoints

• Each interaction point is crucial for reinforcing customer relationships. Well-designed touchpoints can significantly improve the overall experience of attendees.

• The customer journey encompasses all interactions from initial contact to repeat purchase potential, requiring a deliberate design approach.

Designing the Customer Experience

• The design of each interaction is vital. Every touchpoint contributes to overall brand perception and customer journey, thereby influencing business outcomes.

Conclusion

• The event industry is evolving rapidly, presenting new opportunities, especially in the fields of design and customer engagement.

• A thorough understanding of the customer journey and satisfaction drivers is essential for success in this dynamic and competitive landscape.