Is Virtual Event concept something very new? I would say NO!
In 2018, we witnessed Warren Buffet’s shareholder meeting via virtual event and then in 2019 online launch events by Apple wherein around 2 million people were watching this live-streamed event. Along with great transformation into the technology and Digital arena in past decade, we have also seen various enhancements and new features in the smartphones, laptops, tablets, etc. We cannot claim that work will move completely to the Virtual events but yes we can surely say that a good amount of share will prepare virtual events. In the year 2020 we have seen the world coming to a standstill but quickly people moved to online meetups and events. We can expect good rise in 2021 and can expect it to go even bigger in the coming years.
A recent study claims that the engagement is higher on the live streaming video than video uploaded later on social channels. People like live videos with the perspective of knowing firsthand information rather going through an uploaded video. We have experienced it on Facebook, Instagram, Twitter, Pinterest, Youtube, and Linkedin and so on.
In 2021, we expect live streaming to go big way. Companies can use live discussion sessions, online webinars, online product launches, and online tutorials to promote their business directly or indirectly. However the quality of content will play an important role. As per Cisco, videos will generate around 82% of internet traffic by 2022.
Companies have started opting for hybrid mode of events while a few companies switched to completely virtual events during this period of Covid19. Social media has a feature of ‘Happening Now’ and companies have utilized this feature well to promote their new thing and launch the event to various audiences scattered around the world.
It has been a very hot topic in the event and exhibition industry for the past few decades. Virtual Events are now more preferred than the physical events. It is acknowledged that in the virtual event organizers can easily track attendance leading to various other benefits. One can easily monitor and quantify the event performance and understand the ROI of the same event. In 2021, we can see more online events as it also reduces the cost for travel, lodging, technology, tracking through RFID/NFC.
Event organizers and marketers are in sync with the idea to provide customized experience to the event attendees. This will help in gathering more information about visitors easily and then customize the experience for them in the form of relevant and timely follow-ups. The virtual event can help to generate the reports easily with the parameters like interest and then the follow up can be customized as well. These follow-ups will be with more relevant content and it will have good tractions on call-to-actions. During the virtual event one can also run polls and surveys to ensure you get firsthand information.
HOW’S THE YEAR 2021?
For the exhibition industry, it is big leap to see rise in online event industry.It is also considered to be a new way of connecting with people and with larger audiences. In one of the recent surveys, it is understood that more than 65% of the respondents are expecting the technology to play a major role in remote participation for next 3 to 5 years.
Exhibition is a highly engaged medium of connecting with people and doing business. It is not an easy task but still have outperformed in past few months. In order to provide experience to the people, technology will have to play a vital role. It should be able to add value to the visitors.
If you are planning for a Virtual Event in 2021, get connected today to know more.