The Inside Scoop
The one thing that has been at the core of all mergers and acquisitions is growth. It comes as no surprise that customer app platforms are seeking mergers with event management platforms that are seeing perhaps the best phase of their digital life. The results are for everyone to see- faster growth, bigger brand and an ever-increasing audience.
Our blogs are a humble endeavor to enlighten you about the many benefits event management platforms such as ours can bring to your business. Today, we wish to reiterate the huge potential of event management platforms that are drawing big brands, and the incredible opportunities this kind of synergy can bring about. Read on.
There was a lot of buzz when Paytm, the country’s biggest digital payment startup acquired a majority stake in Insider.in- the online ticketing and events platform more than a year ago. The connect seemed a little far-fetched but clearly there’smore to this than meets the eye. As per the ETtech report, Insider.in had over 4000 events listed on the platform and the number of monthly active members was 1.1 million between October 2016 and March 2017, out of which a large section was repeat customers. This was the time when it had allowed other ticketing websites to pick events from their website and sell them independently. As on March 31 2017, Paytm was selling over 3 million movie tickets per month, clearly indicating that a merger of such giants would only make them bigger and stronger.
The merger gave Paytm the much-needed power to rise up and challenge established players like BookMyShow that had enjoyed being the default destination for event planning until then. What’s interesting is that the trend of mergers and partnerships is likely to continue for a long time now, giving event management platforms the cushion to survive competition and enjoy the privilege of being most sought after.
A broader customer base through expansion
At the end of the day, every business is vying for satisfied customers. The first step is to combine happy customers and work on strategies that build deeper connections by passing down the benefits that come along with the merger. Let’s consider the Events High-Treebo merger for example.
While Events High enjoyed presence in eight cities with more than 1.5 million unique visitors on its website, it was Treebo’s reach across 75 cities that gave it the space and opportunity for expansion. Treebo on the other hand, got the leeway to target young travelers looking for new experiences both in terms of accommodations and entertainment.
When experts from different fields join hands, they don’t just merge their offerings. They also merge their vision, management and technical know-how. They fit ideas and values to ‘a cultural fit’ complimenting not just customer requirements but each other’s capabilities.
While keeping an eye on their respective strong points, they work on building a smooth and easy user experience for all concerned. This leads to not just greater credibility but leadership in a market that takes cognizance of only the big and the powerful.
A robust product portfolio
When Tosshead partnered with OYO, they merged their offerings to offer a robust product portfolio. The company aims to move the events industry from unorganized to organized sector and believes that event management needs to be disrupted with tech.
Through its partnership, it now offers customers the option of banquet hall bookings.
The event management scene is growing and as per a EY-EEMA (Event and Entertainment Management Association) report, the events industry has been growing at 16 percent CAGR leaving the popular media and entertainment industry far behind. The time has come to leverage the services of a reputed event management platform and explore fruitful synergies.
We at Eventurbo are forever happy to help you with all your event management needs and give you an edge in a market that has selective memory and forgets brands and their success stories way too soon.
Call us today and we can help you build a presence that stays in the minds of your audiences forever.