The development of 5G technology has transformed and reshaped what it means to be an experiential marketer in today’s ever-evolving environment.
From discovering new creative strategies to creating immersive experiences, brands can begin to leverage the power of 5G to push the industry forward and build more profound engagements with the right audiences. Most think of the Metaverse, NFTs, or even cryptocurrency when predicting the next technological frontier. Without 5G, the Metaverse and the rest of its resources would be nothing but an afterthought.
But what is 5G, how is it transforming experiences, and what new features does 5G provide for live and hybrid events? As 5G continues to push the limits of its capabilities, FGPG provides insight into the importance of using next-generation technology to innovate across the experiential event industry. Here is what you need to know about 5G technology and the future.
The Power of 5G
What makes 5G so unique? Not only will the new cutting-edge tech dramatically improve your network connections, but it will open many doors, allowing every industry across the board to deliver leading-edge solutions.
According to Ericsson, the first company to bring 5G to four continents, 5G runs on the same frequencies used for smart devices on Wi-Fi networks. Still, it enables technology to advance to the next level of digital connectivity. 5G provides us with the newest capabilities that create new ventures for creatives, brands, and society, but what exactly does that mean?
Envision billions of connected devices and the Internet of Things (IoT) gathering and sharing information to increase and enhance engagement at experiential events. Or maybe production operations are so well-connected they can prevent interruptions before they occur. There’s no need to envision, as 5G creates solutions in every area.
New 5G Technology Showcased in Live Events
The experiential event industry is one of the first industries to take advantage of the latest 5G opportunities and transform. Since the entertainment market is back and better than ever before, brands are looking for ways to innovate and enhance their experiences. But how exactly is 5G making experiences more efficient and more immersive?
Prepare for the next generation of event ticketing through NFTs and the Metaverse integration. While the world continues to debate whether NFTs are just a headline, the event industry sees an opportunity for a new and more efficient ticketing solution. NFTs as a ticketing alternative offers unique advantages like almost being virtually impossible to counterfeit, allowing ticket holders to safely transfer their tickets, and offering exclusive experiences at the event for NFT-based ticket holders, known as “utility NFTs” or UNFTs. This year, we will see several live events adopting 5G and NFTs as part of their experiences for an enhanced and immersive environment.
Additionally, customers attending 5G-integrated venues can follow and utilize exclusive features as part of their experience. For instance, Verizon and Live Nation recently announced an updated partnership to offer the mobile provider’s customers presale tickets to concerts and other events, access to live-streamed shows, and interactive features that leverage 5G technology. Because they are attending a 5G-enabled venue, they can add augmented reality filters to the experience and receive non-fungible tokens (NFTs) redeemable for in-venue perks. They’ll also have access to virtual venues that offer customers immersive 3D concert experiences. These are just a handful of the many ways brands are harnessing the potential of 5G to build community and brand loyalty within their market.
The Future of 5G in Experiential Marketing
The rest of the world is embracing 5G and adopting the technology quickly. Future advancements and applications of 5G are expected to integrate with large industries like automotive, manufacturing, treatment plants, and processing industries. Most importantly, one of the biggest industries tapping into the potential of 5G is the live music industry, which could spell a massive push into the next phase of 5G.
A festival event was created to celebrate the 5G festival project. Essentially, the festival was a trial that encourages 5G tech to enhance the “liveness” of an experiential event, no matter where the brands and audiences are. The festival’s creators have experimented with understanding how these collaborations within simultaneous venues can transform brands, combined with innovative live experiences for consumers in person and at home. This setting demonstrates the potential of 5G in the event industry and how it can integrate other technologies like AR and VR to heighten experiences at new levels.
We are undergoing a completely new format of live experiences through the power of 5G. As more brands continue to integrate new technologies into their strategies, 5G will continue to evolve within events to deliver unique experiences for audiences. 5G will drive the growth for creatives and ultimately widen the economy for a bright future.