Event Marketing has been one of the major drivers of business and leads for industries, especially in the B2B and B2C sectors. Event marketing has slowly evolved from a high-budget marketing strategy to a more flexible and affordable option with the introduction of virtual events.
Virtual events have glorified the fact that if a host can understand and deliver the requisites of a virtual meeting, the impact that they create with the event will be 10x that of a normal meeting achieved through controlled capital investment.
With the evolution of telecommunication and event technology in the domain, virtual events are seeing good adaptation rates.
What is a Virtual Event
A virtual event simply means taking an event online where the participants interact with each other using virtual platforms instead of interacting at a physical location.
Virtual events are of many types and can be suited to any format based on one’s requirement. A virtual event can be anywhere from a simple video conference on virtual meeting platforms like Google Meet, and Zoom to an extravagant online event hosted on a website customized to the liking of the audience. The effectiveness of a virtual event is also greatly influenced by the event management team or the event planner who is leading the event.
Advantages of choosing a virtual event over a normal event
Now, let’s address the elephant in the room, what is the advantage of choosing a virtual event over a normal/physical one?
INCLUSIVITY OF YOUR AUDIENCE:
The biggest advantage that you get with that is the inclusivity it offers. With virtual events, hosts can invite participants from any corner of the world to take part in the event.
This would turn out to be a costly affair if it was a physical event considering the logistics, travel, and accommodation charges that would be borne by both the participant and the host.
COST AND TIME EFFICIENCY:
Virtual event hosting can cut down the cost and time involved by 75% when compared to hosting an actual event. This is mainly because the cost of hosting an online event comes down to building a website, creating registration portals, and broadcasting charges. But when it comes to a physical event, the cost of renting out the space to host the event itself costs half of the cost of hosting a virtual event.
FLEXIBILITY AND ADAPTABILITY:
Virtual events also come with the option of flexibility and adaptability. If a virtual event has to be postponed due to some situations, the cost of re-allocating and hosting the event again is less or even zero in some cases compared to the same thing happening with a physical event. The virtual event also gives the flexibility to the host to add in more events based on their requirements which would result in more cost if it was an actual physical event.
With so many advantages over conventional events, virtual events have made event marketing and other subsidiaries like moment marketing cost-effective and efficient.