Over the past couple of years, virtual events have transformed the way businesses host and attend events. While virtual events have been around for many years, it wasn’t until the COVID-19 pandemic hit that they became increasingly popular. With travel restrictions and social distancing guidelines in place, virtual events became the go-to solution for businesses & brands to connect with their audiences. Let’s look at how virtual events have changed the event industry and what the future of the events industry looks like.
What is a Virtual Event?
A virtual event is a meeting or event that takes place online, rather than in a physical location. Virtual events can range from small, interactive webinars to large, multi-day conferences or brand activations. Virtual events can include live streaming, pre-recorded sessions, and interactive features like chat rooms, Q&A sessions, and networking opportunities. Check out some examples Groovy Gecko worked on with Vodafone and Cancer Research
When Did Virtual Events Get Popular?
The COVID-19 pandemic had a significant impact on the event industry. With in-person events being cancelled or postponed, virtual events became increasingly popular. Businesses needed to find a way to connect with their audiences, and virtual events offered an effective solution. During the course of the pandemic, the virtual events industry grew by X%.
Should You Shift From Physical to Virtual Events?
Virtual events offer many advantages over physical events. For one, they’re more cost-effective since businesses don’t have to spend money on venue costs, travel, or accommodation. Virtual events are also more accessible since attendees can join from anywhere in the world. Plus, virtual events offer valuable data insights, which can help businesses improve their event strategy. If you’re looking to reduce costs, increase accessibility, and gain valuable insights, then shifting from physical to virtual events might be the best step for you. Groovy Gecko offers hybrid event solutions for some of the largest brands and businesses in the world.
Should You Keep Virtual Events as Part of Your Overall Event Strategy?
While in-person events are making a comeback, the pandemic has taught us the value of having a virtual element to live events. As a result, we can expect to see a shift towards a “hybrid first” approach, where events are designed to be both in-person and online. This approach offers the best of both worlds, allowing businesses to reach a global audience while also providing a personalised and engaging experience for in-person attendees. By adopting a hybrid first approach, businesses can create a more comprehensive and effective event experience for their audience, ensuring that they stay ahead of the curve in the ever-evolving events industry. Groovy Gecko offers a range of hybrid event services that can help businesses create engaging and successful events, including live streaming, on-demand video, and interactive features.
How Did Virtual Events Change the Event Industry?
One of the most significant advantages of virtual events is that they make the world smaller. Attendees can join from anywhere in the world, making it easier for businesses to reach a global audience. This has opened up new markets for businesses and has made it easier for attendees to connect with each other.
Cost-Effective & Value-Adding Option
Virtual events are more cost-effective than physical events, making them an attractive option for businesses looking to save money. Virtual events also offer a high level of value for attendees, with features like interactive sessions, Q&A sessions, and networking opportunities.
Networking Opportunities With a Global Audience
Virtual events make it easier for attendees to network with each other. With chat rooms, Q&A sessions, and other interactive features, attendees can connect with each other and share ideas. Plus, with attendees joining from all over the world, virtual events offer a unique opportunity to connect with a global audience.
Better stats Insights
Virtual events offer valuable data insights that businesses can use to improve their event strategy. With analytics tools, businesses can track attendee engagement, identify popular sessions, and gain insights into attendee behaviour. This data can help businesses improve their event strategy and create more effective events in the future.
The Future of the Event Industry
Sustainable Events Will Gain More Importance
As businesses become more conscious of their environmental impact, sustainable events will become more important. Virtual events are already more sustainable than physical events, as they don’t require travel or venue rentals. But as businesses begin to focus more on sustainability, we can expect to see more virtual events that prioritise sustainable practices.
User Experience Will Continue to Be the Differentiating Factor
As the virtual events industry continues to grow, user experience will become the biggest factor. Attendees expect a seamless and engaging event experience, and businesses that can deliver on this expectation will be more successful. This means investing in advanced technology, interactive features, and personalised experiences that cater to attendees’ needs.
Engagement Tools Are a Must-Have
With attendees joining from all over the world, communication tools are a must-have for virtual events. Businesses need to offer seamless communication channels, including chat rooms, Q&A sessions, and other interactive features. By offering these engagement tools, businesses can create a more engaging and interactive event experience for attendees.
Is your virtual platform still fit for purpose?
During the pandemic, procurement teams were under immense pressure to quickly onboard virtual events companies to enable businesses to continue operating. However, some of these companies have not kept up with the technological advancements required to deliver a seamless and engaging virtual event experience. This has led to frustration for procurement teams and businesses alike. At Groovy Gecko, we understand the importance of staying ahead of the curve and continuously improving our technology to meet the ever-changing needs of the events industry. Our offering is not only feature-rich and secure but also ISO accredited, giving businesses the peace of mind they need to trust us with their virtual event needs.
Summary
Virtual events have changed the event industry in many ways, offering new opportunities for businesses to connect with their audiences. With their cost-effectiveness, accessibility, and valuable data insights, virtual events are here to stay. And as the virtual events industry continues to grow, businesses that can deliver a seamless and engaging event experience will be more successful. Check out some of the events Groovy Gecko continues to help deliver for our clients: https://www.groovygecko.com/case-studies/
