This is a guest blog from GoEventus.
Being a race director is no walk in the park. There are a hundred things to be done just to get your event up and running (no pun intended!)
Apart from the advertising, site-prep and scheduling, you have to think about securing sponsors while finding ways to drive participant engagement – ever-challenging tasks that are no less essential to the success of your event.
With the growth in the number of endurance events in recent years, it is critical to look out for new innovations in the industry that make these processes easier and improve the overall experience of your next race.
GoEventus has developed new solutions for race directors that are created to do just that – while opening new revenue channels for their race events. One of which is the digital sponsor platform Sponsor Wristbands.
By distributing sponsor messages in a digital way, the platform can help race directors improve their events with numerous advantages that we will dive into in just a moment. First, let’s take a look at how the platform works!
As shown below, there are endless possibilities to present the sponsors’ content in creative and engaging ways. Sponsors can display appealing visuals and incorporate links that encourage participants to interact further with their brand.
Moreover, the platform allows your partners to create different coupons that offer added value to participants. Through the Sponsor Wristbands platform participants can access exclusive deals and promotions for redeemable merchandise from the sponsor.
Additionally, the platform significantly improves sponsors ability to reach all attending participants. While physical coupons only reach participants that are actively handed one, the sponsor platform is distributed through each wristband that is worn by every single person in attendance.
Similarly, Sponsor Wristbands don’t have to be carried around like old-fashioned coupons and vouchers that may get thrown out or lost during a race. Participants can access the sponsor platform anytime from any mobile device or tablet when they scan the QR code on their band wrapped securely around their wrist.
Unlike traditional coupons and vouchers, this platform gives permanent detailed reporting of the participant’s interaction with the different brands along with accurate conversion metrics. Not only does this give you insight into which messages your participants most engaged with, you can also provide your partners with measurable success rates regarding their ROI.
Furthermore, in comparison to other coupon distribution methods, Sponsor Wristbands show a sponsor conversion rate that is substantially higher. For example, GoEventus initiated an event sponsorship with McDonalds’ Canada using the platform – driving a conversion rate of over 80%!
Let’s take a look at another benefit of the digital sponsor platform!
Additional Revenue Channel
In addition to the advantages already mentioned, Sponsor Wristbands allow you to open new revenue streams by selling placements in the sponsor platform to you your partners and sponsors.
Thus, everyone involved benefits – your participants get exclusive offers from brands they’re interested in just by attending your race. At the same time, your sponsors benefit from reaching your audience in engaging ways and can actually track their success rate.
And last but not least, you are able to attract new sponsors with greater data and increase revenues by selling advertisement space.
Sounds great, right? And there’s more – GoEventus launched another innovation for race events that helps to enhance the participants’ experience while growing your revenues.
RFID-Free Cashless Wristbands
The other new development from GoEventus is the RFID Free Cashless Wristband payment solution.
By enabling fast and convenient spending with a digital wallet that connects to the participants wristband, the technology helps race directors improve their events with several benefits, such as improved participant experience and increased revenues.
The Cashless Wristband payment solution from GoEventus works in a similar way to pre-paid cards, where participants purchase event money to load onto a QR coded wristband which acts as the participants’ link to their digital wallet to pay for food, beverages, and merchandise at your race. And after the event is over, participants are automatically refunded any unused money.
Unlike other cashless technologies in the industry, the Cashless Wristband solution from GoEventus does not require expensive hardware or major changes to infrastructure. All that is required is the vendor side mobile app to process transactions from a mobile device or tablet.
Along with seamless integration, the technology delivers convenient on-site spending which offers added benefits to the racers. For instance, participants can get post-race food without a bag check and can easily upgrade their t-shirt to a tech shirt, hassle-free.
In comparison with cash-only races, the use of Cashless Wristbands eliminates time spend fumbling around in pockets and bags, counting cash or receiving change. This significantly reduces wait times and lines for participants throughout the venue.
Additionally, unlike physical cash, the digital wallet cannot be lost of stolen during a race.
Let’s look at another key benefit of RFID-Free Cashless Wristbands!
As it is, participants at racing events rarely have easy access to their wallets while out in the field or track – which directly limits your event sales.
However, as the Cashless Wristbands allow participants to access their money at any time, the technology can increase your event revenues by 15-30%! Additionally, post-event refunds allow racers to load funds and spend more freely.
In that way, all parties involved are happy: Participants benefit from convenient spending and reduced wait times, while both you and your vendors profit from increased event sales.
GoEventus is a manufacturer of custom credentials for events and has provided many leading races of all sizes with unique and memorable race bibs for their participants. The possibilities of customization with the help of GoEventus are endless.
Richard McKenzie, director of new business development for GoEventus said, “We have partnered with a number of top race directors in North America using our products to strengthen their brand presence while looking to expand benefits to their sponsors. As we continue to grow, we’ve integrated innovative technologies to our existing products that will provide endurance events with the ability to improve the customer experience while giving tangible ROI to their sponsors. We’re excited to partner with more race events and work together to help provide great experiences to their participants.”
Learn more about GoEventus at www.goeventus.com