The primary goal of any event is to bring together different individuals with common goals and enable effective communication between them. So far in-person events were the only option. However, with the advent of technology virtual events are widely accepted as part of communication and collaborative efforts.
Businesses are utilizing various virtual event management platforms to host webinars, conferences, meetings, and training, etc. According to statistics, in North America, internal team meetings/training are the most common meeting activity type, with 17% of the market in 2020. On the other hand, internal team meetings/training represent 19% for Europe, 16% for the Asia Pacific, and 19% for Central/South America.
Even though enterprises have acknowledged the efficiency and effectiveness of virtual events, there are some obvious differences between virtual and in-person events.
Virtual events vs. in-person events
The world around us is evolving with technology and so should you. One might believe that virtual platforms are able to host only certain types of events with limitations on the number of attendees, then you cannot be more wrong.
Today technology has made it possible to host not just meetings and training online, but even trade shows and other business networking events. You only need to choose an online event platform that provides you with the necessary facilities with the flexibility to adjust as your business needs evolve.
What are the advantages of hosting virtual events?
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Cost-effectiveness
Online events save costs not only for hosts but for attendees as well. Event hosts can save money usually spent on venues, hotels, food, and other overhead costs. As a result, 34% of planners consider increased attendance the most positive result of pivoting to virtual, followed by lower overhead costs (27%).
On the other hand, traveling to other cities/countries as exciting as it sounds can lead to large expenses for frequent in-person event attendees. For such individuals, online events are a cost-effective way of communication. Additionally, you can reach a larger audience even if you have a limited budget with effective planning and online event management.
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Flexibility
Modern-day organizations are no longer have location constraints. They have become truly global with their offices in different parts of the world. Thus they need to accommodate the communication needs of all these employees irrespective of their location and time zones. Virtual events provide such businesses with the flexibility to host an event that suits the needs of the participants, eliminates language barriers if any, and design a truly unforgettable virtual experience. Also, some of the virtual event management platforms allow you to record events so that participants can revisit the content when they need it. Hence, 90% of event marketers plan to invest resources in virtual meetings permanently.
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Event analytics
It is often difficult for an event organizer to measure the success of an event, even for an in-person event. However, with little assistance from event analytics can assess audience engagement, which content/speaker received most views, and which part of the event boosted attendee participation, etc. Analytics helps organizers to gain better insights into audience behavior and make better decisions in the future.
Conclusion
It is evident that virtual events are here to stay and will pave the way for more innovative ways of communication for businesses around the globe.
Interesting Related Article: “5 Types of Virtual Events Your Customers Want to Attend This Year“