Virtual Events: The Ascent of an Atypical Perception
With the rise in marketing and advertising needs, promotional events are happening everywhere. Even the hassling arrangements and restrictions due to the widespread pandemic could not impede this run of eventing. The only thing that changed is the dramatic deviation from in-person to the virtual realm.
In the present times, numerous events conducted in the virtual sphere have swamped the market across the globe. However, despite this overwhelming explosion, the marketspace of virtual events is still buoyant and lucrative.
As we celebrate the spring of the virtual event market, it is also interesting to know its voyage since its inception. It is fascinating to realize how the necessity of an alternative and a flair to innovate skyrocketed the concept of virtual and hybrid events across the globe.
What is pushing events to the virtual?
Organizing an event is like walking on slippery ground with your future hanging by a thread. You can either sail through or can crash land in drought. What elevates the level of risk is the amount of time, effort, and money you need to spend upfront to conduct an event.
At this juncture, virtual events come as your saviors. These events do not guarantee success and a grand return. Nonetheless, they delegate an opportunity to experiment at a lower cost with less at stake.
The virtual orbit eliminates snags like distance, venue, logistics, weather, etc. It eases the entry barriers and allows you to reach out to a new and wider audience across geographies.
The boom in technology and technical awareness also propels virtual events to new heights. Technology is more readily available in all corners of the world. And people are also more tech-savvy than ever. With virtual events, you can tailor the experience for each attendee and supporter.
All these factors collectively deliver a massive thrust for accelerating virtual events to the pinnacle.
A Critical Year and the Dramatic Ascent
Virtual events have been around for quite some time now. However, the boom that it saw in 2020 is astonishing. The year is marked as a year of disruption as it has caused a severe transformation in every industry vertical.
As the world came to a standstill, people pushed indoors, and everything went into lockdowns due to the pandemic, exploring virtual space became the only option. According to a statistical study, over 90% of event marketers are drifting towards virtual events on their way forward. According to Forbes, a virtual events platform even stated that virtual events had seen a whopping 1000% rise since COVID-19.
The year 2020 has given a colossal plunge to the ascent of virtual events. Although its longevity remained uncertain, the virtual event market is all fired up at present.
Low cost and innovative experience hint towards a possibility of gaining higher returns. However, the human experience of the traditional in-person event is hard to match. The feel-good factor you share with your team after completing an event is priceless. Can this digitization of events deliver that emotional experience? The answer to this question determines the future of virtual events. Until we get a definite answer, let us keep innovating and exploring the possibilities of virtual events and find new opportunities in their crux.