The most common advantages of hybrid events include increased information gathering, immersive learning, low cost, larger reach, flexibility and time savings; to name a few. We did a deep dive and wanted to share our key learnings on advantages of hybrid events that have been overlooked.
1. Data, data, data
We now have greater data for lead generation, marketing pipelines and event statistics. Let’s take it a step further and think of the trend analysis this data can provide. We can uncover new markets based on event attendees and their networking conversations and surveys. We can also study behaviour patterns of individual attendees from across the globe versus looking at companies. There are so many ways to deep dive and learn from the organized data that virtual platforms help us gather. All this information is given freely so we are also compliant with privacy laws.
2. Time is money
The time saved on travelling and event set-up and tear-down is invaluable. What we don’t always realize is that the saved time can be put into more networking sessions and still save you on total event time. This means even more revenue generating opportunities and time savings for your event. This also helps keep costs down as there are no overtime charges and the total time spent is lower.
With time saved and costs down, we often forget to think of predictability and planning. We can better focus on the event at hand instead of logistics, and the budget we have can make our virtual event even greater than any live event we could have run. Small companies will benefit from greater reach but so will large companies who can throw events grander than ever before. Costs are predictable which makes it easier to take risks and grow. International markets will become smaller as virtual events reach a global scale and new audiences will become available.