It is clear that the digitalization of events has made a big leap due to the restrictions of the Corona pandemic. New digital formats and solutions for virtual events are being tested and promoted. Content is being reworked and will also, in the long term, in the form of virtual events form a new event category that is more than just a substitute for physical events. The advantages are undeniable. We have compiled the seven most important ones for you:
In our view, this is one of the most important points, especially given the unpredictable development of infection rates and corresponding measures. In recent months, we have experienced various restrictions and repeated limitations on permitted participant numbers. Events that were postponed from spring to autumn now have to be rescheduled again or definitively cancelled because they fall into the next wave. This creates uncertainty for planners, companies, and participants. Virtual events, without the threat of cancellation or postponement, are the better alternative for many event formats.
An undeniable positive factor for virtual events is the wide reach that an event in digital format can achieve. Without travel expenses and costs, companies can enable more employees to attend an event. The reach of, for example, a product launch can thus be immensely increased. Participants are not tied to time or location, especially if the event is made available long-term in a virtual media library. And companies not only save travel costs but also their employees' time; a virtual event can be attended from the workplace, which reduces downtime. Furthermore, virtual events can reach target groups who cannot attend physical events, for example, due to health reasons. In this sense, virtual events also promote accessibility and have an inclusive character.
Yes, virtual events are not free either, and the costs for reliable technical infrastructure, such as server capacities and a compelling design, are often higher than initially assumed. Nevertheless, it can generally be said that virtual events are less cost-intensive than physical events. Typically, the rent for suitable event locations accounts for a large part of the budget, especially if there are special requirements or a prime location is desired. These costs are eliminated or partly invested in the design and programming of a virtual event location. Items such as travel costs, exhibition stand construction, catering, event technology, decorative materials, and print materials are also eliminated, leading to cost reduction. However, costs are not only reduced for producers but also for attendees, especially when it comes to business events. Travel and accommodation costs often mean that only a few employees from a company can attend events. If events can be attended virtually, this reduces costs for companies, while simultaneously allowing more employees to register for the event.
Is your desired location unavailable on the date, or does it not accommodate the planned number of participants? Is a short-notice event planned without much lead time? Or do the location, dates, and everything else fit, but the local hotels are fully booked? Many obstacles to a successful event simply don't arise when planning a virtual event. Event planning has never been more flexible. Virtual event venues can be adapted down to the last detail to the event's requirements. Not every piece of content needs to be conveyed solely via live stream, allowing the event to be attended flexibly and easily across time zones. Virtual events thus promote the temporal and spatial flexibility of events.
The more specific the data, the more accurate the evaluation. When is the live stream most attended? Which videos in the media library are clicked most frequently? How long are breakout rooms visited, and which virtual exhibition stand is particularly popular? Targeted data collection is a big plus at virtual events. Participant activity can be measured much more transparently than at physical events. Clearly, logged-in visitors and data-tracking pages together form a productive synthesis. At virtual events, numerous pieces of information about target groups are collected. Through tracking and reporting, page views, participant activities, interactions, and rankings are generated, which event organizers can convert into successful leads. The success of the virtual event can thus be precisely measured.
Hardly any format is better suited for conveying personalized content than virtual events. Personalized communication and individual, tailored content engage guests and ensure a longer dwell time at the virtual event. Whether online or offline, guests should always be addressed and invited personally. Following this fundamental step, an individual agenda, suggestions for particularly relevant presentations, exhibition stands, or product presentations are part of the individual package. Via personal Invitation links and through during the registration information provided, guests can be assigned to specific groups, for which relevant information and suggestions are stored. Guided matchmaking and networking can also be optimized through precise attendee profiles, addressing the individual needs of guests.
Those who are at the forefront now can set trends. Virtual events are nothing entirely new, but their frequency, reach, and impact are currently experiencing a peak. Now is the best time to experiment with formats and discover what the best virtual event can look like. Innovations are needed, not only in technical implementation but also in design, which shapes the look & feel of virtual events, and of course, in content. How can content be conveyed sustainably at virtual events? How is closeness created virtually? How do we network virtually? Now we are shaping the events of the future, an opportunity that must be seized.
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