How to increase your event’s revenue overnight

Is your event still using tokens? Or even worse, cash? There are ways to remove the annoying problems caused by cash and tokens such as long queue lines and inefficient money handling. These tend to be the main pain points of the customer journey in this scenarios, deteriorating and even ruining the overall event experience. With Radio (R) Frequency (F) Identification (ID) technologies being implemented on a mass scale, from metro cards, passports to cell phones, there is no excuse your event should not be using RFID technologies. The following are the benefits that RFID cashless systems can offer to your events.

Benefits of RFID Cashless Systems

RFID cashless technologies have greatly increased the customer experience by making the average customer journey a smoother process. The typical customer who is interested in a festival will purchase their ticket online, get his ticket redeemed for a RFID wristband or card at the festival entrance. He/she will proceed to top-up his RFID wearable with cash or credit card and then proceed to purchase anything that they wish simply by tapping their RFID device with the reader at the bar or merchandising store. At the end of the festival, the customer can get a refund of any currency that was left unused in their RFID chip. That’s it. RFID technology is able to speed up transactions twice as fast as there is no need anymore of wasting time either getting the correct change out of the cashier or waiting for the POS system to receive wireless connection. Customers on average spend up to 15-40% more translating into a substantial increase in revenue for the festival. Lastly, another indirect benefit of RFID technologies for customers is the elimination of the risk of theft of wallets and cards making a better and safer experience.

RFID cashless systems bring transparency and accountability to businesses. All cash is handled in a single place eliminating the possibility of money being mishandled or stolen. One of the most powerful benefits RFID technologies bring to the cashless system are the tools given to event organizers to manage their inventory in real-time. Given that there is an active WiFi connection, and your RFID provider has the appropriate software, data obtained from the RFID chips can be instantly generated into real-time intelligent reports. These reports bring smart information to event organizers about which are the best selling products or which point of sale systems are the most efficient ones. With this information, organizers can make quick-decisions regarding stock management instantly and prepare better for the next few days of the event or the next year.  

These are few of the benefits RFID technologies bring to cashless systems. It is highly anticipated that in the future not only most events will implement RFID cashless systems in their events, but also new technologies will develop that will bring cashless systems to a new topic. With the current mass use of bio metric scanners of fingerprints from offices to mobile phones and the penetration of facial recognition software into mass markets, who knows what the future developments of this area will bring. Regardless, it can only be expected that futuristic cashless technologies will improve the live event industry and many of the others who opt to adopt this aspect into their business models.  

 

For more industry updates and related news, subscribe to our social media channels to receive updates. 

Do you think your business can benefit from RFID technologies? Email us and we will find a way to help you.

 

Sonar 2017: Welcome to the 3rd cashless edition.

Sonar and Glownet are partnering for the 3rd consecutive year to offer the audience the best experience. We always aim to give festival goers an amazing experience where they don’t have to think about queues, tokens or cash, but can instead focus on having an amazing time with friends and the best bands. Therefore we completely agree with Metro’s assessment:

Sonar Festival 2017: The line-up, the weather and Barcelona made this the perfect festival

Missed it this year? Hope to see you @ Sonar 2018!

Key Differences Between RFID vs Barcodes

Here at Glownet, we truly value knowledge and truth. As two pillars of our core values, we strive to seek both knowledge and truth on a daily basis. Whenever we see the opportunity, we like to help others get informed and learn as well, and as subject matter experts in RFID, it’s especially important for us to help get the word out on this new technology.

One of our very own Business Development Managers, Izan Coomonte, recently read an article on Event Industry News, where there was some miscommunication regarding the differences and benefits of RFID vs Barcodes. The below post is his response to that article. We hope to be able to shed some light and clear up some miscommunications.

Reviewing the value of RFID vs Barcode technologies at your event

written by: Izan Coomonte

Following the debate about weighing up the opportunities of implementing RFID systems at events and music festivals, I recently read an article in one of the well known music industry portals Event Industry News that talked about the pros and cons of RFID and Barcode technologies where I found certain points that I disagree with.

As I believe there is a little bit of confusion between the differences and benefits of each of the technologies and that I find the subject really interesting for all major players in the industry, I want to give my personal opinion about this particular article named “RFID vs Barcodes” and follow the valuable debate about the usage of both technologies.

In order to clarify and simplify this post, I will give a brief overview about both technologies and then I will briefly go over the points mentioned in the article.

HIGH LEVEL OVERVIEW RFID VS BARCODES:

Barcodes 

  • Only read capability. Can’t write information to a barcode.
  • Low durability, easily damaged or removed. Can’t be read if dirty or under the sun.
  • Low security, easier to counterfeit or replicate.

RFID

  • More than just reading. Ability to read, write, modify, and update. Works 100% offline as the information can be stored in the RFID chip and be read by other device.
  • High durability, resistant to very harsh environments.
  • High security, difficult to replicate as data can be encrypted and password protected.

 

ADVANTAGES OF RFID VS BARCODE TECHNOLOGIES APPLIED TO EVENTS:

  • Barcodes can’t work offline, this means you can’t credit a barcode at point A and then spend at point B, you would need a really expensive network.
  • RFID can work 100% offline as the information can be stored in the RFID chip, this makes RFID systems robust and secure to be implemented in an event.
  • RFID systems require a slight higher investment but the ROI is guaranteed by obtaining an increased spend per customer, intelligent information that lead to make smarter decisions and new revenue streams with third parties such as sponsors.
  • RFID solutions aim to enhance customer experience by reducing queues and improve onsite security by disabling the possibility of buying alcohol if the customer is underage for example.
  • RFID systems only track or register those transactions when the user tap the chip to a electronic device, the RFID solutions used at events can’t track where users are in every moment and all the information is anonymous.
  • RFID solutions eliminate fraud and provide operational efficiency at bars as the two things that take most of the time when buying stuff are eliminated: giving change and internet connections with card machines.
  • RFID wristbands and cards can easily be branded with sponsors logos and add information about the festival.

Please feel free to share your opinion and keep the debate going about these two technologies used at events.