Leading Meeting Professionals

Professional Convention Management Association

December 16 2013

The Future of Mobile Monetization at Your Meeting

By Daniel Metz

mobile Monetization

By now, the majority of meeting planners recognize the reality: mobile apps are a must for today’s meetings. Millennials and Baby Boomers alike are joining the mobile revolution. They’re powering up smartphones and tablets, and they expect a smooth mobile experience throughout every minute of the meeting.

“No event organizer can afford to overlook the trend happening with mobile devices,” Jason Paganessi, VP, Business Innovation, PCMA, says.

As mobile adoption continues to accelerate, something very important is going to accelerate, too: the ability to make money from mobile technology.

SEE ALSO: How to Take Your Meeting Mobile

A new white paper from ACTIVE Network offers a look at where mobile is now and where it’s going in the future. There’s good news for meeting planners, too. It’s headed in a very profitable direction, thanks to mobile payment technology.

“Event organizers should ensure events are mobile-payment ready and incorporate this into programs and events as soon as possible,” the experts at ACTIVE Network declare. “If event organizers can offer mobile payments as part of their services, they’re already riding the mobile wave and setting themselves ahead of the competition right off the bat.”

In addition to setting themselves ahead of the competition, organizers who embrace mobile payments will also uncover new real-time revenue opportunities. While attendees typically pay registration fees long before the meeting actually begins, mobile payment technology carries the potential for convenient last-minute purchases.

SEE ALSO: An App-titude for Revenue

For example, an attendee arrives and hasn’t purchased a ticket to the exclusive opening night party. She realizes she can’t miss the networking opportunity. Forget the hassles of credit card swipes and signatures. Mobile payments are instant with credit card information stored securely in the attendee’s phone. Just tap the mobile device in front of a terminal, and the transaction is complete. Want to sell your OnDemand education package? With mobile payments, you won’t have to wait to send an email after the meeting. Capture attendee attention while they’re already in session rooms, and offer a discount for on-site buyers.

Perhaps the most recognized retailer that has enjoyed great success with an app that welcomes mobile payments is Starbucks. The cafe processed approximately $500 million worth of mobile payments in 2012. While the Starbucks on the corner and your big annual meeting may sound like drastically different operations, mobile payments are built on a model that applies across all on-the-go customers, members and attendees: conveniences translates to cash.

Interesting in learning more about how mobile technology can transform your meeting and your bottom line? Click here to download ACTIVE Network’s “The Future of Events is Mobile.” 

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