During the COVID-19 spread, virtual networking events helped entrepreneurs to break the barriers. It helps them to reach their targeted audience and engage them. Virtual events help generate affordability and great ROI and create amazing experiences. In 2020, the market size of the global MICE (meetings, incentives, conferences, and exhibitions) industry was around one trillion U.S. dollars.
Most companies are exploring digital experiences to engage audiences. Almost 50% of marketers and businesses agreed that workplace and digital engagement strategies have completely changed following the COVID-19 outbreak.
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The global meeting market is forecasted to reach around 1.6 trillion U.S. dollars in 2028, reporting 5% of CAGR growth. It has shifted the model to 80% virtual and 20% in-person. Hence it’s not wrong to say that virtual events are here to stay even after the pandemic.
Reasons that Justify Why Virtual Events are Here to Stay
Most companies thought that Zoom meetings and live-streamed conferences were a temporary fix in an era of social distancing. Virtual and hybrid event models dominated the post-pandemic world. More than 97% of companies changed event programs as a result of the pandemic, whereas around 79% of companies expect to host events that include an online component once in-person events resume.
Event organizers are finding it challenging to plan and implement effective event strategies. But with virtual events, organizers can plan on the fly and be agile. They can easily react better to what the market is; they can take the help of advanced software, tools, and technology to successfully execute relevant events, with no risks.
Without bothering about changing measures and lockdowns, virtual events provide the safest route and option for connecting with a global audience. It facilitated businesses to engage audiences and deliver their message. Organizing virtual events can provide a myriad of benefits; there are a few crucial reasons that explain why the virtual event is here to stay for longer.
More Accessible
Hosting virtual or hybrid events enables you to eliminate the logistical barriers of traveling and others. The audience who is sick and is unable to travel or live across the globe can enjoy the event from the comfort of their sofas. It increases the participant pool, additionally going virtual opens the doors for speakers who might not be available due to geographic or scheduling constraints.
Events Can be Re-shared and Recorded
Your guest no longer has to miss out on any event, even if they are not able to attend it live. Guests can easily record, save, and share the event with anyone who requires access to the same. By recording the virtual event, you have access to a wealth of future marketing content. Use email to notify users who haven’t attended the event, and use other sources to make a large group of audience aware of the event you organized. You can even repurpose the content into a compelling blog post.
Cuts Travel and Other Expenses
Organizing an in-person event demands lots of logistical work; it even costs your pockets much higher. However, organizing the event through an open-source event management system can help you cut down on traveling and other expenses. When you choose to organize an event virtually, you just require AV to run your broadcast, significantly decreasing the time and money you spend on your event.
Virtual Events Increase Attendance and ROI
Any individual with a good internet connection can easily attend an online event. It opens up the invitee pool significantly and allows people will be able to observe without propelling up the costs you had typically seen with a large in-person guest list. It provides you with a great return on investment with some extra effort on your part.
Helps to Collect and Track Valuable Data
When people attend an in-person event, they have very little insight into what attendees did throughout the event. With a virtual event, attendees are logged in throughout the event, organizers can easily collect as well as track behavioral data, including engagement on a unique level. An event organizer can use the data to follow up with their guests for targeted, noteworthy discussions based on what is interesting to them and more.
Parting Words
When planned correctly, virtual even provides an immersive experience than an in-person one. Vital events help you reach more audiences; you can engage them using various ways like audience questions, polls, and more. You can build up hype with hashtags, leverage social media campaigns, and prompt the event to get more people involved.
Author Bio
Dilshad Durani is a seasoned Digital Marketer and Content Creator currently contributing her expertise to the dynamic team at Alphanso Technology, a leading company specializing in an app like Soundcloud and YouTube Music clone development. Her insatiable curiosity fuels a relentless pursuit of knowledge, driving her to unravel the intricacies of changing trends, evolving marketing approaches, and ethical business practices.
