Like it or not the pandemic has changed the Meetings, Incentives, Conferencing, Exhibitions Industry (MICE) and Hybrid events have become the new normal.
With the pandemic lasting longer than expected, we have seen video meetings becoming part of our day to day operations. We have all become more comfortable with the experience and due to the savings in time and costs many may now prefer it.
And as a natural flow on effect, the value of video capture has escalated with Virtual and Hybrid events, changing the way organizations will host and engage with their audiences.
COVID-19 has accelerated digital transformation. On-site and digital have merged to offer a two-fold experience, bringing to the events industry its own type of Industrial Revolution. Improved technology brings more types of interactions and allows event organizers to better replicate in-person events online.
Hybrid and virtual events have become the “smart event”.
They are more than just an alternative solution to a face-to-face offline event for many reasons, a couple of valuable reasons are:
Big Data Analytics:
The leveraging of your video platforms tools with increased tracking provides more data than ever before opening strategic digital marketing opportunities to your expanding global audience. Managing metrics and analytics, measuring interactions during events, seeing how many have logged on, how long they watched, what they watched and focused their attention on have been the best guide to help reimagine events for maximizing ROI.
People now know that the Hybrid component enhances meetings and brings in more people, partners and presenters opening the door to a whole new client base that may not have been reached before.
According to Forbes “the average attendance rates for virtual events open to the public is 30-35% whilst closed or exclusive events particularly those that members had to pay for was around 75% and clients who were similarly hesitant to start hosting virtual events actually tripled or quadrupled their expected attendance”
Expanded Networking Opportunities:
Attendees overwhelmingly cite networking opportunities as a key reason to attend events. While technology capable of connecting people, may once have seemed like a threat to live events. Industry pros have realized that it can facilitate networking across a broader swath of participants—with increased data at our fingertips we can better understand our attendees needs and demographics using it to connect them with like-minded people and targeted content.
Video Pay-Per-View Opportunities:
Your Hybrid and Virtual Event video content is valuable. Don’t let the effort spent producing your event go to waste. Upload your event content to your own branded video channel and start creating new revenue streams for your organization year-round. Keep your event alive and bring the best parts of your virtual or hybrid event back into your community to maximise engagement, exposure and revenue.
Embrace the new normal and enjoy the rewards!