Virtual meetings have become a necessity for this year, but that doesn’t mean they are going away any time soon. Though we’re all burned out on buzzwords and concepts like “new normal”, organizations need to consider how those things will impact event plans and start thinking ahead. Are virtual meetings going to become your new normal? Let’s peek at some of the benefits of going virtual.
Because everyone’s coming together in a technology format versus physically traveling to your meeting or event, some of the bigger cost components like travel, housing and other miscellaneous travel expenses disappear. Without these expenses, you can play around with other ways to enhance your event, like increasing technology, production value or adding fun and engaging opportunities for your audience, and still come in under budget.
Going virtual also offers a lower cost of entry; you can increase event attendance without it having a direct correlation to your budget. Many times, events are paid by cost per head, but without needing to pay per person, organizations are not limited to a certain number of invites.
Similarly, attendees often must spend money to participate in an event, whether a registration fee or travel costs. Because a lower business costs for the event typically mean lower attendance costs, virtual settings offer the potential for increased accessibility and attendance. Attendees also won’t need to pitch your event’s ROI to their organizations and justify the expense if the cost is considered reasonable.
Organizations also are more likely to give employees the green light to attend virtual events because individuals no longer need to be out of the office for commute times — or even leave their desks — to participate. Event attendees also benefit from the extra time for work and family that staying home allows, and may be more engaged in the meeting.
BONUS: Virtual events can reduce the carbon footprint of your meeting with less travel and services with disposable pieces such as food and beverage.
Quick to Market
Often, the virtual meeting planning timeline is much quicker than that of an in-person meeting because there are little or no travel logistics like securing space in a hotel, booking airline tickets and actually traveling. Being able to launch and host your event with a shorter turnaround time can make all the difference if you are trying to keep a current and competitive edge, since you can get content to your participants quickly.
Lower cost per event and fast turnaround time means the potential to host more events, which can be used to build motivation and loyalty for your brand. Brand awareness is a great way to generate leads and accelerate your sales pipeline. Further, the content you create for virtual events can be reused on-demand for future training, new associates, sales presentations and more.
Are you ready to start thinking about virtual events? Connect with Fox about what they could look like for you.
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