8 Benefits That Virtual Events Have Over Traditional Events
It is the general consensus that virtual events aren’t going anywhere; we’re hooked on how convenient and essential these are in the business world and in our lives. The debate remains: are they actually better than traditional events? Our answer is a resounding yes! If you’re still undecided, consider these 8 reasons in which virtual events far supersede traditional ones.
1. No geographical barriers
There are no geographical barriers when it comes to virtual events. One could attend from Japan, New York, Uganda, or from anywhere in the world, for that matter, without the hassle of an airport, in fact, with no traveling or commute required. Think of it as a global platform - global, not only for attendees, but also for a wide pool of presenters and content editors. Virtual events make the idea of global outreach, or being able to meet virtually with anyone in any part of the world, possible, which is tantamount to fishing in the biggest economic pool you could imagine.
2. No Spatial Limitations
Virtual events have no spatial limitations. That is not an easy concept to grasp, because every time we think of an event, we think of a specific number of guests. Virtual platforms, however, support an unlimited number of attendees. For instance, a medical conference could easily be accessible by all the world’s doctors. What would have been a national event can easily become a global one, with unprecedented reach and profit at minimal cost to event hosts. That alone is an exponentially significant milestone in modern history. Apply this concept to your business, whether it’s sales, tech, education, fashion - whatever the field - and think of how it can grow and expand by standardizing virtual events.
3. Monetization Potential
A virtual meeting will have the same financial gain, if not more, than a traditional meeting, and the costs of these will be next to nothing in comparison. For instance, for a smaller fee, you can host a virtual event on a platform that can support hundreds of participants, whereas if you want to accommodate 200 attendees in a physical venue, the space rental alone will already surpass the cost of holding a virtual meeting. Additionally, factor in what you save with no travel, no commute, no printed schedule or agenda, no lunch or snacks budget. If we do a side-by-side comparison of the cost of these meetings, you’re making way more profit with digital events.
4. Data Analytics
It’s far easier to track audience data from virtual events than from in-person events. When an event is held online, event planners have access to better, more accurate data. Virtually everything can be captured, tracked, and analyzed - every movement, click, or download. Think of all the metrics you can track: the number of registrants, the number of attendees, your audience’s demographics, which sessions were more engaging, how long attendees spent at virtual booths, or even which sponsor ads got the most views. This goldmine means event planners can then review data to determine the relevancy of their sessions and incorporate it into their decision-making process for future events to improve their strategic planning and increase their ROI.
The customization features of virtual event platforms far exceed those of physical spaces. More advanced platforms allow you to customize your floor plans, your event landing page, your features and sessions to allow you and your fellow participants a more enriching experience. For example, a customizable floor plan means that you can create whichever setting you want, one that is more intimate like an online speed dating event, with both a cocktail party space or private chat rooms, or one that resembles an auditorium for something like a virtual graduation or classroom setting. With a customized virtual event, there are limitless possibilities for expansion and engaging an audience, if you can inspire the same effect as an in-person activity. Pictures, sounds, and rewards can all be a part of your personalized space.
6. Low Environmental Impact
In-person events have long been culprits of large amounts of CO2 emissions. All the travel, food, materials and waste involved in planning and executing a physical event contribute to startling amounts of carbon emissions produced. Perhaps the biggest positive impact we can have on our planet is to ‘keep it virtual’. Virtual events have a significantly smaller carbon footprint because they require no driving or public transportation. This means no traffic congestion or idle engines, no food wasted, no paper products used and no waste produced. Virtual events offer a real alternative solution to a growing problem.
While major events such as weddings, funerals, and family reunions are best held in a physical space, most other occasions can be held virtually. Think of work meetings and informative sessions. It’s easier and way more convenient to join these events from the comfort of your home. Cut out a two-hour commute, making lines for your morning cup of coffee, gas money or needing to use your car - all the little pesky things involved in physically getting to a place - and you actually have a more decent quality of life with virtual events.
They truly pay homage to the word accessibility. Everyone and anyone can attend an event virtually and have the same gratifying or fulfilling learning experience from it. A person with mobility issues can have the same advantage as someone who may not be limited by mobility; it levels the playing field to include many persons with distinct abilities. Imagine hiring employees from a large pool to choose from and the work is accessible to all of them, regardless of distance. Candidates would be chosen based on their talent, skills, and aptitudes, instead of only their geographical location. As an employee, imagine working from the comfort and safety of your home; that alone brings peace of mind.
Virtual events were how we adapted to survive, but those who survived well are now thriving, so there is no normal to go back to - there is only forward. Digital experiences provide a higher reach than their in-person counterparts because they have no geographical or spatial limitations. They are preferred by those in the events industry because they have a higher monetization potential and they provide better data analytics.
Their customization level means that they can be just as engaging as in-person experiences. They produce less carbon emissions, which results in a lower environmental impact. Their convenience and accessibility alone make them a valuable tool in the hands of companies everywhere. All these benefits make virtual events an asset in our increasingly digital world.
Are you thinking of hosting your next event in an online setting? Get in touch with someone from our team and see how we can make your event engaging and memorable.