In 2020, the number of organizations that planned a virtual event increased by 100%, according to Wild Apricot. Traditionally, businesses host events and parties to generate buzz and grow their reach. In current times, a virtual event is the better way to go. In fact, there are several reasons why virtual events can greatly benefit your business.
It Cuts Costs
Traditionally, throwing an event for your business costs a significant amount of money. The average cost of a rental venue is about $4,870, according to EventKickstart. Other sources of expenses are table rentals, food, decorations, music, and even technology rentals. A virtual event significantly reduces the costs associated with events, as there will be no need to rent a venue or provide refreshments and seating for attendees. Instead, you can simply fix up a corner of your office and make use of existing technology that you have like cameras and screens to facilitate your virtual event.
It Increases Your Reach
One of the disadvantages of a traditional business event is that attendance can be limited because of the venue and the location of the event. An online conference can reach a wider audience since geography is not an issue, according to Kalin Kassabov, CEO of ProTexting.com. You can also set yourself apart from other brands by making your virtual booth memorable. You can use virtual gifts and send personalized messages to attendees or virtual passersby. This can ensure that anyone that passes through your virtual booth will have a positive experience and effectively reach your brand’s reach.
It Provides Your Business With Immediate Data
Another thing that a virtual event can do for your business is providing you with clear and immediate data about your customers. Around 90% of virtual event organizers utilize surveys to measure their attendee’s satisfaction, according to Markletic. Gathering information on your virtual event attendees can give you a clear idea of how they perceive your brand and what else you can do to further improve your offerings. The virtual aspect of your event can give you further data on the preferences and desires of your audience so you can make better-aimed campaigns moving forward.
With consumers more interested in seeking convenience, it’s not surprising that everything is leaning toward digitalization. As a business owner, taking advantage of the benefits you can get from virtual events is both smart and practical. Take some time to review what sort of events you can host online, and craft your event to suit your enterprise’s needs.
