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Are Virtual Events Good for Business?

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The event industry is still reeling from the sometimes-disproportionate public health measures that have kept millions at home and left just as many without their jobs or life savings. But virtual events are growing more popular as they are an answer to the tidal wave of live events that have been delayed, postponed, or canceled. But are virtual events really worth the investment?

Why Virtual Events Are Good for Business

In the era of the pandemic, virtual events can help businesses stay afloat. Although the world cannot live without handshakes, during the excess government-imposed restrictions on live events, virtual events are an alternative that works. Here’s why virtual events can be a boon for your business.

1. They are cost-effective.

With a virtual event, you won’t have to shell out money for the physical event space, extra personnel, employees’ and speakers’ commutes, catering, and so on. People will attend it from their personal computers, and you will only have to make sure that you have all the necessary technology in place to offer a smooth experience.

2. They are convenient.

It is hard to squeeze your event into people’s schedules as personal calendars are packed with work and personal responsibilities, dinners, kids, pets, and whatnots. It is more convenient to attend a virtual event, especially if it is not live-streamed, as you can give attendees access to event recordings to allow them to relive the event at their own pace.

3. Better leads

A virtual event allows you to gather more data on your attendees to personalize offers and newsletters. A personalized offer will boost the likelihood of securing a lead, which can help your business grow organically over time. However, don’t overdo it. Find the right time to send your message for maximum impact.

4. Better user experience

Virtual event platforms incorporate many features that make networking easier. For instance, virtual breakout rooms offer a space for your attendees to wind down, share ideas, and meet new people away from the main event room.

You could also use breakout rooms for separate assignments and activities. What is more, breakout rooms come in many sizes and shapes and are incredibly cheaper than a physical room (Source: https://www.pandamr.com/stand-samples.)

5. Keeping users engaged

In a virtual event, it is easier to get user feedback and keep them engaged. You have access to online resources like PDFs, exclusive materials, vouchers, exclusive content, which you can share with your users to ensure brand loyalty and following. You can also schedule one-on-ones with people who request it and expand your outreach beyond just the attendees on your list.

6. Greater flexibility

With a virtual event, you are free to choose the speakers and resources you want regardless of geographical constraints. Also, you can reach out to all types of audiences regardless of their location as you are no longer confined to a physical space. Time zones are not an issue either, as people who cannot attend your event will have access to all the resources and video or audio recordings afterward.

7. Bypassing COVID restrictions

And last but not least, a virtual event does not require you to be vaccinated, wear a mask, or limit attendance to several people. In many jurisdictions running a physical event has become nearly impossible due to the draconic restrictions.

What is more, what may seem safe for some people is downright dangerous for others, which may get you in trouble with the local law enforcement. So, in current conditions, a virtual event is the safest bet to keep everyone happy and your business safe.

Conclusion

Virtual events can be a big boon for businesses if done right, and in these trying times, they are one of the most sensible things to do to keep your business afloat. What is more, due to their cost-effectiveness, flexibility, and convenience, they are worth every penny invested.

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