Hosting events has long been the most important aspect of any business. It enables companies and enterprises to launch new products and services, highlight new offerings, increase sales, and elevate business profits.
Any business may gain a lot from events, and they can efficiently convey their message to people all over the world at a single click. Interactions held during events aid in the development of genuine commercial relationships. With the advent of the global pandemic, all live physical events came to a stop.
As the global epidemic struckthe nations worldwide, leveraging virtual events was the only option left to keep going. With the restrictions imposed on public gatherings to ensure health safety, virtual events became phenomenally popular and the latest trend.
All the obstacles faced during live physical events get completely resolved with virtual event formats. The challenges faced during physical events such as geographical boundaries, space constraints, or social distancing measures are not part of virtual events. All live physical events, ranging from day-to-day team meetings to major industry events such as AGMs, town halls, trade fairs, exhibits, and all the other relevant events have been shifted to the digital medium.
Hybrid events have been in play for a long time. Even though everyone is yearning for physical events to return, large-scale gatherings will not be seen for some time. According to a recent survey, 72 percent of event planners expect to go hybrid in the near future.
In this article, we will uncover the importance of all three event formats. Additionally, we will throw light on which one is most likely the future of the event industry. So, let’s explore the event formats to witness who will win the battle!
Will Future Be In-person Events, Virtual Events, Or Hybrid Events?
A lot of speculations have been made about the future of the event industry. We have listed the importance of all three event formats by monitoring software . Have a look:
On-ground Events
These types of events have been around for a long time and have their own value. Greets, handshakes, and embraces are the essential aspects of live physical events that hold a personal touch. It can never be replicated by digital event formats. Individuals develop a sense of trust by engaging in face-to-face conversations. Attendees from afar travel to attend the most awaited events of the year. Engagement activities, on the other hand, are offered during the event to keep attendees engaged. Attendees can pose for photos, play games, stop by stalls, and more during physical events. Thus making them feel excited to be a part of the event and take event memories home. Participants at physical events are surrounded by other attendees, making it relatively easy for them to network with others and exchange ideas. However, when it comes to in-person events, there are some limitations.
Disadvantages of In-person events
Due to various constraints, in-person events result in having a lower turnout. However, some participants are unable to attend an event due to time constraints while others are unable to attend due to the cost of travel and geographical location.
During the in-person event, some people find it difficult to traverse the crowds of hundreds and connect with other attendees or booths.
Excess carbon emissions and tons of waste disposed of after every on-site event is another disadvantage.
The main flaw in live physical events is its higher cost and lack of flexibility.
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Virtual Events
Virtual events are online events hosted on a comprehensive virtual event platform with the help of an internet connection. If we simply say, these events are an online recreation of live physical events. Rather than visiting onsite event sites, virtual events allow guests to engage in the event from their remote places and have free-flowing interactions just like physical events. Attendees can interact with other attendees as well as with speakers, hosts, exhibitors, and more at their own convenience. All the barriers and disadvantages of physical events get resolved with virtual events.
During the pandemic, virtual events prove to be a lifesaver for many businesses. When all live gatherings came to a halt, it helped many enterprises to keep sailing in the challenging times.
Advantages of virtual events
Reduced expenses as costs involved in organizing physical events get resolved completely.
Reduced carbon emissions
Extended event reach and visibility as attendees from around the globe can be part of the event virtually.
Increased event attendance, participation, and engagements
Improvised ROI
Event analytics to measure event performance and much more.
The greatest benefit of virtual events is that they allow us to prepare for any situation and continue without stopping.
Hybrid Events
Hybrid events are a perfect mix of two events formats. It combines virtual as well as in-person elements in a single event. Hybrid events are held at an on-site location and include a virtual component. The event format’s flexibility allows a small part of registrants to attend an event in person, while a larger segment attends from their remote locations.
Hybrid events bring both virtual and physical guests together. As a result, more enriching event experiences are delivered. Thus resulting in extended event reach and holding the essence of an in-person event together.
Advantages of hybrid events
- The event format’s versatility is a significant advantage. It allows marketers to easily expand their reach while also allowing guests from all around the world to participate in the hybrid event.
- Better brand visibility and awareness
- Enhanced production values and increased ROI
Hybrid events offer much more. It combines the advantages of physical as well as virtual events altogether.
Hybrid events are most likely to be the future of the event industry if statistics are to be believed. Even after the world fully recovers from the halt of the deadly viruses, many event planners have planned to include a virtual component in their physical gatherings in the near future.
In this clash, the hybrid event format is undeniably winning.
In-Conclusion
If you haven’t considered going virtual or hybrid yet, do so now and begin researching the advanced virtual and hybrid event platforms to get your event off to a good start!
