Navigating the Future: 5 Key Trends Transforming Finance Events
Welcome to a world where finance events are changing rapidly. These aren’t just simple meetings anymore; they’re becoming something much bigger and more exciting. In recent years, the world of finance has seen a lot of changes. We’ve gone digital in a big way, and we’re also facing new challenges every day, like big global issues and changes in the economy.
This brings us to a key question: What does all this mean for finance events? It’s clear that these events are evolving. They’re no longer just about people sitting in a room talking about finance. Now, they’re about using new technology to create experiences that are more engaging and meaningful than ever before.
In this blog, we’re going to look at the five biggest trends that are changing finance events in 2023. These trends are reshaping how we plan, run, and think about these events. So, let’s get started and see what’s new and exciting in the world of finance events!
- A Clear Commitment to Sustainable Events
Sustainability is a big word in the finance industry right now, especially when it comes to events. In 2023, it’s not just a nice thing to have; it’s a must. This focus on sustainability is driven by what we call Environmental, Social, and Governance (ESG) factors. These are the things that companies think about to make sure they’re doing good for the planet, society, and their own governance.
Here’s why sustainability is so important in finance events:
Investor and Consumer Expectations: People who invest in companies and the customers who use their services are demanding more sustainable practices. In fact, a 2022 survey by PwC found that sustainability is a top priority for investors. Consumers, too, expect financial services to be more eco-friendly.
Transparency is Key: It’s not enough to say you’re sustainable; you need to show it. Stakeholders like investors, customers, and employees want to see clear evidence of a company’s commitment to ESG strategies. This includes how events are planned and executed.
Practical Steps Towards Sustainability: For events, sustainability can start with small but impactful choices. This includes selecting venues with a strong record of sustainability, offering sustainable food and drink options, and managing waste effectively. Additionally, tracking and aiming to reduce the carbon emissions of your events is becoming increasingly important.
Starting the Sustainability Journey: If your organization is new to sustainable events, the first step is to assess where you currently stand. Set clear goals and milestones for becoming more sustainable. Work closely with your event partners, like venues and suppliers, to create a plan that reduces your event’s environmental impact.
In conclusion, sustainability in finance events is not just a trend; it’s a fundamental shift. It’s about making deliberate choices that have a positive impact on the environment and society. As we move through 2023 and beyond, embedding sustainability into your event planning is not just good for the planet; it’s also what your stakeholders expect and demand.
- Digitization of In-Person Events
In 2023, finance events are getting a digital makeover. This trend is about using technology to make in-person events more exciting, interactive, and useful. Let’s break down how this is happening and why it’s a game-changer.
Digital Transformation in Finance Events: Digital technology is changing the way we do things in finance events. It’s not just about meeting people face-to-face anymore; it’s about adding digital elements to make these meetings even better. This shift started when we all had to go online during the pandemic, and now, it’s become a big part of how events work.
Making Events More Digital: So, what does a digital event look like? Imagine walking into an event and checking in with your phone, getting a personalized agenda right there on your screen. You can network with other attendees through a mobile app, and even after the event, you can access videos and content online whenever you want. All these digital tools make the event more engaging and convenient for everyone.
Benefits of Digital Elements: By adding these digital parts to events, planners can do some really cool things. They can get more people involved, keep them interested, and even learn more about what attendees like and don’t like. For example, at a big fintech event in London, they used technology for everything from registration to printing badges, and even added virtual networking and videos. This made the event not just a two-day thing, but a continuous experience that people could engage with before, during, and after.
In summary, digitizing in-person events is all about bringing the best of both worlds together. It enhances the experience for everyone involved and makes sure that the impact of the event lasts much longer than just the time spent at the venue. This trend is really changing the game in finance events by making them more dynamic, interactive, and valuable for attendees.
- Prioritizing Data Privacy and Security
When we talk about adding digital elements to finance events, there’s something we can’t ignore: keeping all that digital information safe. This is where data privacy and security come in, and they’re a big deal in 2023.
The Challenge with Data in Events: Here’s the thing about digital events – they create a lot of data. From the moment someone registers for your event to when they interact with different sessions or speakers, data is being generated. This includes personal information, preferences, and even behavioral data. Keeping this information safe is crucial, especially in the finance world where trust and security are everything.
Why Compliance Matters: With all this data floating around, there are rules we need to follow. These are data privacy laws like GDPR in Europe, GLBA, and CCPA in the United States. They’re there to make sure people’s personal information is handled correctly and safely. For event planners, this means making sure that every part of the event, from registration to feedback collection, meets these privacy standards.
Choosing the Right Event Technology: This is where secure event technology platforms come into play. These platforms help you manage all the data you collect during your events. But it’s not just about collecting data; it’s about doing it in a way that’s secure and compliant with laws. The best platforms will have features like encryption, access control, and risk management. They make sure that your attendees’ data is safe, and they also help you use this data in a way that’s both useful and responsible.
In short, data privacy and security are huge priorities in finance events now. It’s all about collecting and using data in a way that’s safe, legal, and respectful to the people who trust you with their information. By focusing on these areas, finance events can offer peace of mind to attendees, which is essential in building lasting relationships in the finance industry.
- Focus on Cost Savings and Event ROI
In today’s world, where the economy can be unpredictable, finance events are paying more attention to being cost-effective and making sure they get good returns on their investments (ROI). Let’s see what this means and how it’s done.
Economic Pressures and Their Impact: Right now, many companies, including those in finance, are dealing with things like high inflation and the possibility of a recession. This situation makes everyone think more carefully about how much they’re spending, especially on big things like events. The goal is to make sure that every dollar spent on an event brings value.
Getting More for Less: This is where being smart about costs and ROI comes in. Event planners are looking for ways to do more with less. This means finding more efficient ways to plan and run events without sacrificing quality. For example, using technology to manage registrations and interactions can save a lot of time and money.
Tracking Success: Knowing if an event was successful is about more than just feeling good about it. It’s about having the numbers to show it. This is where data comes into play again. By gathering data from events, planners can see exactly what worked well and what didn’t. This helps in making future events even better and more cost-effective.
Centralizing Data for Better Insights: One smart way to track ROI and improve efficiency is by centralizing all your event data. Instead of having bits of information in different places, having everything in one place makes it easier to see the big picture. This can help you find ways to cut costs and improve how your events are organized and executed.
In summary, focusing on cost savings and ROI is crucial for finance events in 2023. It’s all about being smart with your resources and making sure your events are not just great experiences, but also good investments.
- Creating More Connected Events
The fifth trend shaping finance events in 2023 is all about making them more connected. This means creating events that aren’t just stand-alone experiences but are part of a larger, more cohesive story. Let’s dive into what makes events more connected and why it’s important.
Personalized and Consistent Experiences: Attendees today expect more than just information from events; they want experiences that feel personal and consistent. This means each event should feel like it’s tailored just for them, from the moment they register to follow-up communications after the event. Consistency across all touchpoints builds trust and strengthens the relationship between the attendee and the brand.
Integrating with Broader Marketing Strategies: Events shouldn’t exist in a bubble. They need to be part of the bigger marketing picture. This includes linking events to other marketing activities like social media, email campaigns, and digital content. By doing this, the impact of an event can extend far beyond the actual days of the event. It turns an event into a key part of the ongoing conversation with your audience.
Using Digital Channels for Engagement: In a world where digital is king, using digital channels to enhance event experiences is a no-brainer. This could mean live-streaming parts of the event for those who can’t attend in person, using social media to create buzz around the event, or providing digital content like videos or articles that keep the conversation going long after the event is over.
The Importance of Integration: The key here is integration. Events should seamlessly blend with other marketing efforts, providing a unified message and experience. This approach not only keeps your audience engaged but also maximizes the return on investment for each event.
In essence, creating more connected events is about understanding and leveraging the power of integration and personalization. It’s about making each event a piece of a larger puzzle that, when put together, tells a complete story about your brand and its values.
Conclusion
As we wrap up our exploration of the five key trends transforming finance events in 2023, it’s clear that the landscape of these events is evolving rapidly. Let’s quickly recap what we’ve discovered:
Sustainable Events: The push towards sustainability is no longer optional but a vital part of event planning in the finance industry.
Digitization of In-Person Events: Digital elements are revolutionizing how attendees experience and interact with events, making them more engaging and accessible.
Data Privacy and Security: In an increasingly digital world, ensuring the security and privacy of event data is paramount.
Focus on Cost Savings and Event ROI: Economic challenges are driving a stronger focus on cost-effectiveness and measurable outcomes from events.
Creating More Connected Events: Integrating events into a broader marketing strategy and using digital channels enhances attendee engagement and extends the impact of each event.
These trends aren’t just fleeting changes; they represent a fundamental shift in how finance events are conceptualized, planned, and executed. Adapting to these trends is essential for anyone looking to succeed in this dynamic field. By embracing these trends, you can create events that are not only relevant and engaging in today’s world but also poised for future success.
Now is the time to take these insights and put them into action. Whether you’re an event planner, a marketing professional, or a finance industry leader, implementing these trends can elevate your events to new heights. Start by reviewing your current event strategies and identifying areas where these trends can be integrated. Remember, the goal is to create events that resonate with your audience, are sustainable, leverage the latest digital innovations, prioritize data security, deliver measurable ROI, and seamlessly integrate into your broader marketing strategy. Let’s move forward and redefine the future of finance events together!
About the Author / Faisal Mohammed
