Why Going Virtual may be the Smartest Option
Virtual live events have become increasingly popular as a way to connect with audiences remotely. While virtual events were once seen as a temporary solution during lockdowns and social distancing, they have proven to offer several benefits that will likely make them a permanent fixture in the event industry.
Recent research has highlighted the benefits of virtual live events, and we’ll explore them in this article.
1. Increased Reach and Attendance
One of the most significant benefits of virtual events is the ability to reach a larger audience than in-person events. With virtual events, there are no geographical limitations or venue capacity constraints, making it easier to attract attendees from all over the world. Additionally, virtual events offer more flexibility, as attendees can tune in from anywhere and at any time.
According to a study by Bizzabo, virtual events can increase attendance by up to 30%, and 80% of virtual event attendees are more likely to attend future events hosted by the same company.
Hosting virtual events can be more cost-effective than in-person events. For example, there are no venue rental fees, catering costs, or travel expenses. Furthermore, virtual events can reduce the need for staffing, as many tasks can be automated or done remotely, such as ticketing, marketing, and technical support.
A survey by Convene found that 88% of event planners believe virtual events are more cost-effective than in-person events. In addition, a study by Global DMC Partners found that virtual events can cost up to 75% less than in-person events.
3. Enhanced Engagement
Virtual events offer several features that can enhance attendee engagement, such as interactive polls, live Q&A sessions, breakout rooms, and virtual networking opportunities. With virtual events, everyone gets a front row seat. Attendees can also easily access resources such as speaker bios, session recordings, and slides online, which they can review at their convenience.
While it’s convenient to tune-in, it’s also easy for attendees to tune-out. Our “Engagement by Design” framework turns expectant attendees into active participants.
According to a survey by Swapcard, 91% of virtual event attendees said they enjoyed attending the event, and 82% said they learned something new. Additionally, 80% of attendees said they appreciated the opportunity to interact with other attendees.
4. Environmental Impact
Hosting virtual events can reduce the environmental impact associated with in-person events, such as carbon emissions from travel and waste from catering. Virtual events also reduce the need for printing materials, such as brochures and event guides, which can significantly reduce paper waste.
A study by the University of Waterloo found that virtual conferences have 99% lower greenhouse gas emissions than in-person conferences. Additionally, a study by Eventbrite found that virtual events can save up to 60,000 tons of CO2 emissions per year.
5. Increased ROI and Data Insights
Virtual events provide more comprehensive data insights than in-person events. Virtual events allow organizers to track attendance, engagement, and other metrics in real-time, providing valuable insights into attendee behavior and preferences. These insights can be used to optimize future events and increase the return on investment.
According to a study by EventMB, 73% of event planners said that virtual events can provide better data insights than in-person events. In addition, a study by Cvent found that virtual events can provide a 50% increase in ROI compared to in-person events.
6. Convenience and Accessibility
Virtual events offer convenience and accessibility that in-person events cannot match. Attendees can participate in virtual events from anywhere with an internet connection, and they do not have to worry about travel, accommodation, or other logistics. This accessibility makes virtual events more inclusive, allowing people who may have been unable to attend in-person events to participate.
Since attendees may have distractions, it’s important to help them block out times and protect their space from interruptions. Our “Engagement by Design” methodology turns your event and “can’t miss” experience and provides many digital and physical reminders. These help your attendees fully focus and stay engaged.
According to a survey by Bizzabo, 97% of virtual event attendees said that virtual events are more convenient than in-person events. Additionally, a study by Global DMC Partners found that virtual events can increase attendance from international attendees by up to 30%.
Summary of Virtual Benefits
In conclusion, virtual live events offer several benefits that make them a viable and effective alternative to in-person events. With the increasing availability of technology and the growing demand for remote connectivity, it is clear that virtual events are here to stay. Organizations that embrace this change and incorporate virtual events into their event strategy will benefit from increased reach, cost-effectiveness, engagement, environmental impact, and data insights.