In recent years, we’ve seen a steady increase in events using RFID technology to improve fan experience and drive revenue. When we think of RFID events, we tend to think of large outdoor music events with 10,000+ people, however, times are changing.
RFID is no longer just for arenas and stadiums. We’re seeing a more diverse range of venues like malls, colleges, beach clubs, waterparks, theme parks investing in RFID technology for their site.
So why are all these venues choosing to go cashless?
For guests, going cashless means they spend less time in lines and more time enjoying the event. For event organisers, RFID has loads of great benefits such as eliminating fraud, increasing revenue, reducing operational costs and rich data insights to further improve guest experience.
Here is our list of the top 10 reasons why you should use RFID at your next event.
RFID benefits for guests
1. Faster entry
Ask any fan after a festival about their experience and they’ll probably mention how easy it was to get in, or more specifically, how long they waited in line. With ticket checks, security and wristbands it can take hours to get inside, meaning guests miss their favourite act or the perfect camping spot. Cashless RFID technology makes this whole process faster. By using RFID bracelets at your event, you can cut your entry time for your guests and get them to the action faster.
2. Shorter lines
Whether it’s a drink, food or merchandise you’re after, there’s nothing more disheartening than seeing a long snaking line to get it. Cashless RFID makes your lines 80% faster. By eliminating cash at your event and implementing one touch technology, your guests can get what they need and get back to the action in record time.
3. Leave your wallet at home
There are times when carrying a bag and cash isn’t ideal, particularly at water parks, theme parks and beach clubs, where there’s a high chance cash might get lost or belongings get damaged. By using a preloaded RFID wristband or bracelet, guests can simply top up at home or when they arrive on site, leave their bags and enjoy their day, worry free.
4. Improve the VIP experience
VIP ticket holders have paid a premium to receive the next level of service, which is why many events provide VIPs with a special area with premium food and drink options, top facilities and special experiences. With cashless RFID, VIPs can get special access to restricted areas around the site without needing to stand in line and have their wristband checked, it’s simply one tap and go.
RFID benefits for organisers
5. Boost profitability
As an event organiser, fan experience is always top priority, but whatever decision you make has to make financial sense. The good news is that RFID has the power to maximise profit as well as minimise cost.
We know from our experience in the industry that RFID cashless payments increases event takings by 22% on average and makes transactions up to 80% faster when compared to cash. In 2019, we worked with Finn’s beach club to introduce cashless RFID to all of their events. At their event they saw a 30% increased spend per head compared to previous years.
And the possibilities to maximise revenue don’t end there. Breakage revenue, the revenue gained through unredeemed wristband balances that are never claimed, can provide an additional revenue stream.
Furthermore, pre-event revenue generated through online top ups prior to the event can provide event organisers with a much-needed cash flow boost.
6. Real-time insights to improve your event and drive revenue and sales
Only a closed-loop cashless payments system, such as cashless RFID can put consumer data in the hands of the organisation, rather than the banks. This type of data, only available to online retailers until now, can provide powerful data and insights which can be used to increase revenue. The data collected by using cashless RFID enables you to adapt your event logistics and marketing communications. Here’s just some ideas of how you can apply the data you gain from going cashless with RFID:
Leverage marketing communications
- Capitalise on buyer behaviour by sending targeted and personalised promotional offers
- Segment and then reward your top performing customers - these are your true VIPs
- Reduce overheads. Going cashless streamlines lines with vendors and at entry
- Organisers can identify easily the natural hotspots and increase staff to improve customer flow
- Reconciliation reporting is faster and simpler
- Easily identify the top performing vendors vs those that don’t
- Evaluate your contracts - with transparent figures you can determine whether to charge more
7. On-site safety
Where there are large crowds of people, there are concerns about health and safety. People want to feel safe and RFID bracelets can help with this too. Attendees can input emergency contacts, medical conditions, in fact any relevant information ahead of time. With a simple tap, staff and stewards can access this vital information directly from the bracelet. In 2019, family-friendly Kaleidoscope festival, Northern Ireland found 75% of attendees uploaded emergency contact information onto their RFID bracelets.
Over-consumption can be easily managed by adding yellow card functionality to an RFID wristband. This functionality allows staff to anonymously pause a customer’s ability to purchase age-restricted products and alcohol. Help reduce the friction between staff and consumers.
8. Eliminate fraud and theft
Implementing cashless RFID can provide significant cost savings through the elimination of fraud and theft. A cashless payments system prevents staff errors in cash handling, cashless payments provide a clear audit trail. The risk of petty theft is eliminated as cash is removed from the venue. Plus, organisations save money on storing and depositing cash funds.
9. Connect with sponsors
RFID cashless payments can also be used to connect with sponsors. The data that you get from going cashless could mean the difference between securing or losing sponsors for future events.
Win over existing sponsors by using performance data to prove ROI to them and utilise these valuable use cases to secure new sponsorship deals. A branded RFID bracelet also offers a new sponsorship opportunity for event organisers.
10. Covid safety
Since the global pandemic began, cash has come under scrutiny as a covid risk factor and a hand-to-hand exchange of physical currency is not ideal. Emerging trends, such as mobile payments, the use of QR codes and even digital menus have become embedded in our everyday lives.
Cash is covered in germs. And with the lifespan of various bills ranging from four to fifteen years that’s a lot of time for germs to accumulate. Going cashless with RFID gives staff and attendees the reassurance that organisations are doing everything to keep people safe.