What is Virtual event?

What is a Virtual Event?

Digital technology is growing on an everyday basis. Companies are aiming to use various techniques to promote their business and reach a wider audience in the most effective way. It is transforming the manner we communicate, work, and live. With the internet opening countless communication possibilities, industries are looking at alternative means of doing business. With the gap shortening between the virtual and the real world, businesses across the globe are using the virtual event to their advantage.
Even events are being conducted online and experimented by various companies. Marketers are using the digital platform to run virtual events instead of an in-person event.

Decoding virtual event

The virtual event, or ivent as it is commonly known, is moving events online using platforms like webcasts and webinars. These are held online and are multi-session events. One can hold large events such as recruitment drives, trade shows, product launches from the comfort of your office or home online, and replicate the actual physical event.

Why Virtual Events?

Businesses are making a shift from the physical model of business to the virtual business model. With this shift, advertising, digital companies, and social media platforms are taking advantage of promoting products, services, and brand promotions. Let us look at the factors that are driving businesses across the globe to embrace virtual events:

Virtual events are unlikely to be affected by constrained budgets. As the budget is minimal as compared to a physical event, you can have a conference practically from any corner of the world.

As it does not need a physical presence, one can gather more people on a virtual medium and have more events conducted to promote their brand.

Multi-tasking is almost impossible in a physical session which is a very much doable task in a virtual meet, event, or conference.

Virtual events are feasible for all types, and sizes of businesses. Be it education, finance, advertising, job fair, brand or product promotions, you name it, and it is a possibility using this mode of communication

Another useful aspect is, you can always go back to previous events when needed or request to review it. All you have to do is archive them.

Businesses are benefiting in excelling in their business using virtual events and accomplish much more. We bring you a few pointers on how virtual events are benefiting the digital marketers in this web-connected world.

Money saver: The Company saves costs on the venue, on-site staff, and overhead costs. As these events are online, the only requirement is a computer and a good internet connection to go online. Moreover, if you have international attendees, you save on their travel costs, travel time, and other miscellaneous expenses.

More attendees:  The brand proposition reach is higher with a virtual event. In a physical event at times, one can have restrictions on the number of attendees, logistics, and at times you cannot reach the set number of attendees due to various reasons. With the virtual event, you can reach a wide audience base, and the number of attendees increases with your brand reaching places gaining popularity and sales. As it is a virtual event, you get to keep a track of the number of attendees, interact live, and at times also make instant sales.

Time saver: Companies get time to plan in detail and execute it effectively. The people attending the event have the same advantage and save time on travel to the venue and get extra time on their hands to complete their tasks and be available for the event.

A mix event: You can also add more speakers or promoters to the event. You can make it enjoyable and fun by adding videos and recorded clips to the event.

Lead generation and networking: Virtual events are seen as a great source of lead generation and as a medium of professional networking. It opens gateways to new audiences who otherwise cannot make it to the live events. It helps in spreading the word and in the company’s brand promotion to a new set of audience. Some companies also give access to the content as a gift or with minimal cost, a gesture that makes people come back to them time and again with new leads and networking opportunities..

As per the London business wire- Technavio, the virtual business will grow almost to 22% CAGR between 2017 and 2021. Virtual events are the next big business opportunity in the virtual world of business across the globe.