Benefits of Hybrid Events for Large Companies

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Benefits of Hybrid Events

It won’t be wrong to say the year 2020 was a whirlwind for the entire world. The change into the event formats took hold globally. Transiting live events into virtual venues not only enhances event reach but also is a pocket-friendly alternative that increases ROI. With the leap of time as we move ahead, hybrid events came into play. Recently, Benefits of Hybrid Events have gained all the popularity with their scalable features. It has created a niche for itself with its efficiency in delivering seamless experiences to audiences. The mass hybrid events planned up for the coming year clearly indicates the future of the event industry lies within hybrid events. In the next following years, the hybrid event format is sure to gain substantial growth and notch high.

Hybrid events bridge the gap between conventional events and digital events thus resulting in increased sponsorship packages. The benefits offered by hybrid events do not just end here. It offers enormous merits and endless possibilities to grow. In this post, we have scrutinized the incredible benefits of hybrid events. So, without wasting any further time, let’s get digging to explore the endless possibilities of hybrid events.

What is a Hybrid Event?

Benefits of Hybrid Events

A hybrid event is a mix of live physical events and virtual events. It incorporates the best elements of both the event worlds together. In simple terms, combining the best elements of traditional live events with a virtual component is what we call hybrid events.

An event is organised at an on-site location and is paired with a virtual hybrid event platform technology partner. A small portion of attendees attends an event in-person whereas the rest can partake in sessions virtually from their households. However, the number of attendees attending an event is unlimited.

Hosting a hybrid event is not as tricky as it sounds. Pairing with the right virtual event tech is the key to deliver quality hybrid events.

Top Benefits of Hybrid Events

In addition to the diversified event reach, hybrid events offer additional benefits that one must take into account. We have got you covered with some incredible benefits of hybrid events.  Have a look:

  1. Maximised Attendance

Well, face-to-face interactions are engaging as they comprehend attendees with personalization. The major obstacle that lies within live physical events is missed attendance. It can be due to various reasons. Firstly, attendees are not aware of the benefits of attending an event. Second, lack of time and ability to travel to a distant location to be a part of a live physical event. Thirdly, people tend to miss the event due to increased ticket prices. All these factors contribute to dipping the attendance at live physical events.

However, with hybrid events, attendees can partake in online sessions from the comfort of their home without having to travel. They can enjoy the most compelling content at their convenience while sipping a coffee on a couch at reduced costs. The expenses of traveling, booking accommodation, etc. all get considerably reduced with hybrid events.  Even if you monetize your event, attendees won’t mind paying sums of money as other expenses are elevated completely. Increased attendance is one of the major benefits of hybrid events. The research found that nearly 98% of attendees at a hybrid event never planned to attend live physical events. Transiting to hybrid events is sure to lure in more registrations and increase attendance at the event.

  • Enhanced Engagement with Attendees

Integrating virtual counterparts in live physical events open new possibilities of amplified virtual audience engagement. Hybrid events demand to record the keynote speaker sessions to stream to virtual attendees. You can even offer it on-demand once the event gets over to amplify your engagements even after the event gets over. By doing this, the event stays in the mind of attendees for an extended timeframe. As attendees are tuned-in from their devices they can simply comment, share, like, etc. effortlessly without any hustle-bustle. A comprehensive virtual hybrid event platform allows organisers to host live polls, surveys, Q&A during sessions. It allows attendees to voice out their opinions thus resulting in engaging them with the event throughout.

  • Powerful Sponsorships

A large percentage of sponsors are more willing to participate in hybrid events as they can tap both the attendees at the same time. Hybrid events offer more value to attendees due to ample reasons.

Firstly, increased reach is the most significant reason for increased sponsorship opportunities. Enhanced reach is equivalent to more attendees thus resulting in increased lead generations.

Secondly, hybrid events offer more flexibility to have live and virtual sponsors simultaneously.

  • Reduction in Carbon Emissions

The impact of reduced travel and carbon emissions have been foreseen on the environment during nation lockdown scenarios. Plummet in carbon emissions is one of the major merits of hybrid events. Even though face-to-face interactions hold their own significance, going hybrid is an effective way to reduce environmental impacts. It offers flexibility to attendees to partake in events virtually from the comfort of their own homes. Thus resulting in a reduced headcount of live attendees. This way, it reduces the carbon footprints, and a reduction in disposal of waste is even recorded.

  • Significant reduction in expenses

Following the trend of hybrid events, results in reducing the hefty cost involved. The cost involved in traveling gets considerably reduced as attendees can join the event virtually from remote locations. Whereas the cost involved in booking a venue with a larger space capacity, accommodation, food & drinks, etc. all gets dipped considerably. If you have a stringent budget for an event, hosting a hybrid event is the best solution possible.

  • Data Collection for Performance Metrics

The ability to collect valuable data is one of the major benefits of hybrid events. Right from gaining the insights of the show to filter out the most engaging hotspots to the estimate of participants per session, a comprehensive hybrid event platform keeps a track of all.  The trackable metrics and KPIs help in analysing which part of the events performed the best and which needs improvement.

Conclusion

Technology has evolved and is more accessible. If you have not yet hosted hybrid events, plan out now and reap the benefits it serves. Selecting the right hybrid event platform & utilising the right tools with the best of knowledge is a key to deliver a successful hybrid event.

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