With everyone’s busy schedules, not to mention travel and gathering restrictions due to the pandemic, industry professionals may find themselves unable to attend in-person events. Some might not have the time to spend away from the office. Others might not be able to take time away from their job due to company restrictions on travel.
These obstacles don’t negate the need for continuing education and networking opportunities. What can you do when travel isn’t possible but you still want to get out of the office and see how your industry peers are solving common problems?
Attend a virtual event! Virtual or online events are an affordable way to learn from industry experts when a large travel budget isn’t your reality. They offer a convenient way to meet with others without leaving your home or office. Thanks to the 2020 pandemic, virtual events are becoming more sophisticated in their delivery of content. Plus, virtual events have proven they’re here to stay as an alternative to those that can’t (or prefer not to) attend in person.
Let’s explore the benefits of attending a virtual event.
Virtual events are web-based events that contain many similarities to on-site, in-person events. They became popular during the late 2000s because they offered an economical way to bring thousands of attendees from all over the world to an event. Virtual events allow users to interact with companies or peers from the comfort of their home, office or a nearby coffee shop through chat or video conferencing.
With the onset of the 2020 COVID-19 pandemic, virtual events became necessary as governments issued stay-at-home orders and millions of people began working from home.
They can be used for purposes such as career fairs, discussion forums, networking or coaching. To attend or host a virtual event, all that is needed is an internet connection and a device to access the Internet. Most platforms are compatible to access through a desktop computer, laptop, smartphone or tablet.
Before we delve into the benefits of attending a virtual event, let’s acknowledge the obvious: Virtual events aren’t the same as in-person events. You won’t replicate the excitement and anticipation of a packed lobby or lounge pulsing with music and chatter as you and fellow attendees meet and network. There are no chance meetings with industry idols at the coffee station, no spending quality time with fellow industry peers over a meal, and no retreating to your hotel room to relax and focus on next steps for the connections you’ve just made.
But there are many benefits for professionals like you when attending a virtual event:
Virtual events require much less time to plan for and attend than traditional in-person events. With no travel required, you’re not wasting time driving or waiting in the security line at the airport. Just log on to your computer or device, enter your event credentials and you’re there. If you work in an industry that is more customer service-oriented or uses billable hours, the time savings virtual events offer can more than make up for the monetary cost of attending.
Because there are no logistics related to travel, hotels and food, virtual events reduce the monetary cost to attend. Most virtual events cost a few hundred dollars or less. Buyer attendance at exchange events is free, in-person or virtual. But when you attend a virtual event from home or the office, there’s no additional cost for childcare, pet care, or other personal expenses related to being away for a few days.
This might sound counterintuitive, but consider this: At an in-person event, time and space constraints limit you to being in one place at one time. If meeting rooms are spread out over a sprawling campus, or vendors are holding parties in different areas of the host city, chances are you can only attend one, maybe two, sessions happening concurrently. (And you’ll miss either the front- or tail-end of each.)
But at a virtual event, you can cover a lot of ground with just a few clicks. It’s easy to meet with as many vendors as you want when navigating a virtual meeting hall means browsing the list of suppliers present and clicking into them for a quick chat or demo. You can spend more time chatting with others in virtual lounges or lobbies because there’s no need to leave enough time to walk into a ballroom and find a seat. Many virtual event hosts sponsor daily coffee chats or happy hours to help attendees mingle. Plenty of organizations are starting to offer themed chat spaces around job roles or common challenges to help like-minded people find each other and forge better connections.
At an exchange event, buyers can meet with more suppliers because a virtual model means more are likely to be able to attend. You can take a few meetings during the day as your normal work schedule allows and without having to be officially out of the office. Plus, a wider variety of suppliers are able to attend virtual exchange events because the time savings of attending virtually means less time away from their daily work responsibilities.
2020 taught most companies that change is possible. The jolt to remote work taught many professionals new ways of creating, problem-solving and networking. Virtual meetings used to be a once-in-a-while, learn-it-then-forget-it occasion. But now that they’ve become ubiquitous, from one-on-one Zoom or Google Hangout sessions to premium platform-based virtual events that host thousands, individuals have added online meetings to their skillsets. Companies can take advantage of the time and financial savings virtual meetings present by adopting virtual meetings as part of their standard sales or project protocol. Thanks to built-in video components as well as the ability to record for later reference, the first round of introductions or project meetings can easily be completed virtually. These virtual meetings can lay the groundwork for more comprehensive in-person meetings later. Quick meetings for clarification can also take place online instead of in-person now that most parties will know how to jump on a virtual meeting with short notice. The time and financial savings of doing business this way are a big win.
In-person exchange events are typically held at a luxury resort, and buyers attend for free. Because a virtual exchange event cannot come with the luxury experience of meeting in-person, companies like Global Exchange Events offer monetary compensation for buyers to meet with sellers during a virtual exchange event. After the virtual exchange event, buyers can choose between cash or a donation to their favorite charity. It’s a win-win for buyers!
Sometimes it’s not your company’s policies that prevent you from attending a far-away conference, it’s your responsibilities at home. When family must come first, virtual events can allow you to keep up with your industry anyway. Most online events offer small breaks in between sessions plus a longer lunch or dinner break, letting you attend to pets, kids, elderly parents or others under your care.
If you’re only able to attend part of the day live, it’s common for virtual event hosts to make recordings of sessions available to attendees for later (or repeat) viewing for a limited amount of time after the event – typically 30 days, but sometimes longer.
Virtual events offer convenience and flexibility for attendees and can be a welcome, practical addition to your professional development agenda. The cost savings can be passed on to other team members so they can attend educational events too. Virtual events offer an easy way to participate on a schedule you can customize to your daily responsibilities. The next time you’re reviewing your event attendance plans, consider attending as a virtual participant. The event might be virtual, but the benefits are real.
If you represent an industry supplier, chances are you know the importance of building potential client relationships through face-to-face meetings. Warmly introducing yourself, learning about a potential client’s history and current needs, explaining how your company can help them meet their goals — all of that goes smoother when you’re able to meet at a conference, a networking event, or even over a simple cup of coffee.
But what can you do when travel or budget restrictions make in-person attendance tough, or impossible? How do you continue to fill your sales funnel with qualified leads?
Enter virtual events. Virtual or online events can be an affordable, efficient way to meet with potential buyers when travel to in-person events isn’t possible. They allow suppliers to continue making connections for a fraction of the cost of the travel, accommodations and incidentals in-person events require.
Let’s explore the benefits for suppliers attending a virtual event.
Virtual events are web-based events that contain many similarities to on-site, in-person events. Virtual events became increasingly popular during the late 2000s because they offered an economical way to effectively bring thousands of attendees from all over the world to an event.
They can be used for many purposes such as career fairs, discussion forums, networking or coaching. Virtual events allow users to interact with companies or peers from the comfort of their home, office or a nearby coffee shop through chat or video conferencing.
To attend or host a virtual event, all that is needed is an internet connection and a device to access the Internet. Most platforms are compatible to access through a desktop computer, laptop, smartphone or tablet. They are typically a single or two-day event; users can join when they are available and make the valuable connections they are looking for.
There are many benefits for suppliers who attend a virtual event. Before we list them, however, let’s acknowledge the obvious: Virtual events aren’t the same as in-person events. You won’t be able to replicate chance run-ins with sought-after clients in the lobby or elevator.
But there are significant savings and advantages for suppliers like you who attend virtual events:
Thanks to the fact that you can attend a virtual event from anywhere, there’s no staff time spent traveling to and from a virtual event. You won’t waste time waiting to board a plane or returning a rental car. Just log on to your device, click over to the event, and begin meeting others.
If you’re hosting a virtual exhibit booth, you’ll spend less time setting up your virtual booth than an in-person booth. Effective virtual show hosts offer a couple of plug-and-play booth layouts that only require you to upload a company logo, some product images, and some electronic marketing collateral. Virtual events reduce the planning time compared to in-person events tremendously. But if you’re attending a virtual exchange event, you’ll still want to invest time in researching the buyer companies you plan to meet with and preparing personalized information about your company for those buyers.
Additionally, virtual events fit better within busy schedules that are often affected by unpanned events. Inclement weather, travel delays or restrictions, and last-minute emergencies can all cause you to cancel attendance at an in-person event. Because virtual events are accessible from anywhere and aren’t subject to the whims of the weather or current events, they are easier to attend.
Suppliers enjoy the streamlined experience that a virtual platform designed for 1:1 exchange events offers. They can browse attendee data in advance. They can direct message fellow attendees and queue product demonstration videos and electronic materials for quick sharing during scheduled meetings. They can set virtual appointments and join live meetings all from the same platform. There’s only one login to remember for all functions, and all meeting info is stored in one central location.
Virtual events actually make it easier to meet with more prospects than at in-person events. Sometimes, prospects are unable to attend in-person events due to time, budget or distance. But with virtual events, your business has the ability to reach an unlimited audience regardless of these factors.
Because there is no time spent traveling – even between ballrooms or meal locations – you have the ability to fill gaps between sessions, opening hours, and meal breaks with video appointments. You could spend non-scheduled time at your virtual table, too, chatting with leads. Virtual events offer more efficiency when it comes to meeting with prospects.
Because there are no expenses related to travel, hotels and food, virtual events reduce the overall costs of exhibiting or otherwise representing your company. Even if you decide to maintain your exhibition budget, because there’s a lower cost per attendee at a typical virtual event, your company could register more of your team, giving your team the chance to divide and conquer and giving more people experience selling in a virtual environment.
For suppliers, there is usually a cost to sponsor or exhibit at a virtual event. But it’s almost always less than the cost of in-person registration. Combined with the time your company saves, the return on investment from a virtual event can potentially exceed that of in-person events.
Virtual events offer convenience and flexibility for both buyers and suppliers. The cost savings your business can realize from attending virtual events can effectively be put towards other marketing activities, or other areas of your business that need a boost. Virtual platforms are easy to navigate and built specifically for 1:1 conversations, which means an efficient, user-friendly experience for buyers and suppliers.
The next time you are reviewing your events strategy or lead generation tactics, consider adding a virtual event to your business’s lineup.
Many professionals have found it difficult to suddenly switch to online events. Besides learning to navigate new virtual event platforms, there’s the feeling of missing out on the valuable human engagement that comes with interacting with others through traditions such as welcome receptions, toasts, 5K races and community service projects completed together.
At the same time, people are discovering that there are benefits to attending events online. Unencumbered by budget or travel restraints, more people have been able to attend virtual events. ASAE: The Center for Association Leadership, for example, hosted a record 14,108 attendees (71% of whom were first-timers) at their annual conference in August. Similarly, when Salesforce pivoted their annual World Tour Sydney conference into an online event, attendance increased from a typical 10,000 in-person count to more than 13,000 online guests. When all you need is an Internet connection and dedicated time, it’s easier to say yes to attending an online conference or expo.
Now that organizations have been holding events online for a year, they’re getting better at making them more interesting with extras such as live trivia games, cooking or cocktail classes, and health and wellness breaks. Online events also appeal to introverts: If you don’t like crowds, it’s much less intimidating to attend a popular event if you’re tuning in from your desk or couch.
Then there’s the cost. Virtual events come with registration fees ranging anywhere between nothing and a few hundred dollars to attend. But when you factor in the cost of attending an in-person event — transportation, accommodations and meals, to name just a few expenses — virtual events cost significantly less than a typical in-person event. A large trade show or luxury exchange event can take up an entire year’s professional development budget. But a virtual event can cost the attendee a fraction of a fully in-person event, saving their organization money and freeing up their budget for more professional development opportunities.
This is where hybrid events have their chance to shine. Hybrid events, with their in-person and concurrent online component, have the potential to bring together all the benefits of physical and virtual events to provide a tailored attendee experience that reinforces the value of the event and the host association.
“I believe there will be some significant and lasting changes in the way we produce events,” says Barry Schieferstein, CMP, DES. “Hybrid events are going to become the norm because the audience will come to expect it. We were already seeing this with the younger generations. Face-to-face events are going to have to be much more experiential to not only fill the wants and desires of Millennials and Gen Z, but also to provide enough value (or FOMO) to those who could just as easily stay home and watch it on their device.”
Valerie Bihet, a Miami-based corporate planner, estimates the ratio of virtual to in-person events will be 4:1 going forward. In addition to being easier to attend, if an organization frames their online event as an experience and not just a webinar, attendees will be just as eager to participate from home as in-person.
Hybrid events are more inclusive. People with compromised health, very young children, disabilities, or traveling restrictions can more easily attend the online portion of an event. Plus, it’s possible attendees will sometimes prefer to attend an event virtually. Even when in-person events begin again, the Florida Society of Association Executives found that 73% plan to have a virtual component to those meetings. Uncertainty surrounding the safety of meeting in person plus school-age children learning from home means many professionals aren’t yet able or willing to travel to in-person meetings.
With the advent of the coronavirus vaccine, governments and companies are lifting travel restrictions. But even when in-person meetings and exchange events become common again, there will be attendees who don’t have the funds or the time to take off from their daily responsibilities to travel to a full-day or multi-day event. A virtual attendance option can offer buyers and suppliers the chance to still participate in the full range of your association’s programming.
Hybrid events allow buyers and suppliers to connect with one another regardless of where they’re geographically located. Those who attend on location can meet with others face-to-face within the onsite schedule, then meet with online attendees for further conversations at a time that’s most convenient for both parties. Both groups enjoy the flexibility of meeting through the event’s virtual platform at any time during the exchange event and for whatever length of time they’d like. Plus, all parties can continue their conversations through the virtual platform after the exchange event.
It’s not clear when governments and companies will ease or lift restrictions on gatherings and travel. Even when the pandemic is under control, things like the weather, national emergencies, and personal emergencies will always cause some uncertainty surrounding live event attendance. Knowing you can pivot between attending an event in-person or virtually takes some of that uncertainty away. Hybrid events make investing in the cost of attendance more realistic for many professionals who don’t want to gamble their professional development budget in an unpredictable world.
Because the cost of attending an online event is usually less expensive than attending in-person, hybrid events present the opportunity for teams to attend the same event without going over budget or completely abandoning their posts. Not all companies allow for an entire team to attend an event at the same time. They might not have the funds, or their business/customer service model might not allow for an entire department to be out of office for a few working days. But with hybrid events, an organization can send one or two representatives in-person to learn, exhibit, or both, and register the rest of the team to attend virtually while also attending to normal company business.
With the current pandemic stretching into 2021, virtual events – in the form of trade shows, conferences, and exchange events – are likely to be a mainstay for a while longer. As public health restrictions ease and association professionals become more comfortable traveling and meeting in larger groups, however, the opportunities to continue engaging attendees in an online format as well as in-person are numerous. The benefits of hybrid events, from cost savings to attendee comfort, will make them a popular option for associations wanting to host inclusive gatherings. From the ability to be more inclusive to the potential to earn more sponsorship revenue, hybrid events could become a staple of association meetings.