Virtual Events Should be your Next Big Bet

We’re entering an age where constant connectivity has been replaced by social distancing. As the concept is expected to stay with us for the foreseeable future, large-scale public gatherings are going to be replaced by virtual events.

Even if the medium of communication has changed, the desire stays the same: learning and networking. Keeping this in mind, the virtual event journey needs to be attuned to people’s requirements before, while and after the event. Virtual events lend themselves well to learning more than networking and that can be leveraged.

Companies that depend on events to sustain themselves need to immediately upgrade their tech and ensure their customers and audiences are getting the benefit virtually. Staring at the screen can be boring and so it’s essential that the virtual experience is engaging through the use of multiple-camera setup and shifting scenes. Though everyone is looking at their screens, the event can be meaningful by introducing networking amongst the participants or interactive with the speakers.

Equally important is to decide the number of people who can be accommodated while ensuring their privacy. Even the speakers need to adjust to speaking to a camera versus a live audience.

One of the benefits of a virtual event is that it can cut across time zones. So, this provides the host with a larger audience. But, make sure your time schedule is inclusive. If possible, make it available for repeat viewing for those who may have missed it.

It’s compelling to compare the success of your virtual event with your live one, but don’t do it. You need to re-align your success metrics. Create new measurement goals. This will require working from scratch. It will also create new opportunities and learnings.

The Indian events industry is expected to witness a hit of about Rs 1 lakh crore in this quarter itself. Virtual events can help to partially tackle this through sponsor placements, brand promotions within talks as well as in-segment ads.

While virtual events will be the best option for the months to come, market sentiments are hopeful for a return to face-to-face events once this crisis is over.

Ref:

https://www.financialexpress.com/brandwagon/writers-alley/how-event-industry-is-adapting-to-the-covid-19-period/1961184/

https://www.pcma.org/covid-19-impact-events-industry-planners-survey-results/

https://www.fastcompany.com/90499636/8-ways-to-rethink-virtual-events-for-the-age-of-social-distancing?utm_campaign=eem524%3A524%3As00%3A20200504_fc&utm_medium=Compass&utm_source=newsletter