Virtual Events vs Hybrid Events vs Live Events
Events are an essential part of every enterprise to communicate to a large segment of the audience. Hosting an event helps organisations to spread their message effortlessly and gain much-needed brand recognition. The benefits offered by events are unbeatable thus resulting in amplified engagements, lead generation, and business revenues.
Earlier, Live physical events or face-to-face interactions have all the limelight to carry the event. With the change in scenarios caused due to the sudden outbreak of COVID-19, virtual events have gained all the spotlight. As large gatherings have come to a stop due to the spread of the deadly virus, technological innovations took hold. Virtual events completely escalated the roadblocks caused during in-person events. Geographical constraints and space limitations are no more a barrier with virtual events.
As lockdown started uplifting and small gatherings started happening, hybrid events came to play. It’s a perfect amalgamation of virtual as well as live physical events. Hybrid events and virtual events are the two best alternatives that closely replicated live physical events. A comprehensive virtual hybrid event platform enables you to host virtual hybrid events and reach your audience seamlessly. Today, the market is flooded with ample virtual hybrid event platforms that offer a range of engaging and interactive features.
Table of Contents
VIrtual VS Hybrid Vs Live Events
Virtual events, hybrid events, as well as live physical events, have their own set of benefits. Which suits you the best depends on your event needs. Determining which event type is most appropriate for your company event is the first step to deliver a successful event.
Whether you are planning a corporate or a social event, bringing people together under the same frame to deliver messages is the common goal. With several different event formats available today identifying the approach that works best for your event is the key. Selecting the best event approach depends on several factors right from the size of the event, demographics, timeline, and budget.
Face-to-face interactions have their own significance. But undeniably the future of the event industry lies within virtual and hybrid events. Here is a quick breakdown to help you determine which event format work best for your company
Virtual events: Enhanced reach, Better attendance, Reduced costs & improvised ROI
Virtual Events: A virtual event is defined as an online event that takes place over the internet on a virtual event platform. It involves people interacting in a virtual environment from their homes rather than gathering at an on-site physical location.
The roadblocks faced during live physical events such as geographical constraints or space limitations get completely escalated with virtual events. With the course of the pandemic, the percentage of virtual events has skyrocketed with the benefits. Organisations around the world quickly adapted virtual events ever than before to keep going with the changing trends.
Benefits of Virtual Events
A sudden surge in the percentage of virtual events has been recorded the previous year. Unfortunately, COVID-19 was the reason behind a sudden boost in ongoing virtual events across the globe. The merits offered by the virtual event format are endless and offer enormous opportunities for businesses to grow. It helps in generating amplified leads and business revenues. Here is a list of virtual event benefits:
- Reduced Expenses: Virtual events result in having a significant reduction in the cost involved. The cost involved in organising live physical events such as renting a venue, hiring a staff, traveling expenses, accommodation, and so on gets completely escalated with virtual events.
- Increased Accessibility: Virtual events allow a large number of attendees to accommodate an event seamlessly when compared to Live events. Space limitations are no more a barrier with virtual events. A Virtual venue with no audience capping can accommodate as many attendees as you want. It helps organisations to enhance the reach and tap a wide segment of potential attendees beyond geographies. Amplified engagements. better attendance, more lead generation, and conversions are what you achieve with enhanced accessibility.
- Environmental Friendly: Virtual events result in reducing the carbon footprints and disposal of waste. Tons of waste are disposed of every year after live physical events that are hazardous for the environment. Virtual events are an eco-friendly way to host an end number of events.
- Data Trackability & performance metrics: A comprehensive virtual event platform offers robust data tracking capabilities that keep a record of every digital attendee move. Right from the start till the event ends every move is captured. How did they register? Virtual booths they interacted with? What information did they exchange, share, or download? And so on. It helps in measuring the overall success of an event.
- Substantial ROI: An improved Rate of Interest (ROI) is expected with virtual events.
Hybrid Events: A flexible event approach with an essence of both event formats
Hybrid Events: An event that is organised at a physical location with an associated virtual component is known as hybrid events.
It brings the best elements of both the event worlds i.e. virtual and in-person events under the same frame. Hybrid events offer the flexibility to attendees to attend an event virtually from anywhere or by visiting an on-site location. It results in having maximised reach and amplified attendance at the event.
Regardless of geographical location, hybrid events allow attendees to attend an event via any device from their respective remote location same as virtual events. Whereas a small percentage of attendees can attend an event physically and experience face-to-face interactions. Hybrid events even reduce the cost involved in organising a live physical event significantly. It offers the flexibility to expand your business regardless of geographical constraints.
Benefits of Hybrid Events
Hybrid events are an amalgamation of both the event worlds. While comparing hybrid events VS virtual events, the difference lies herein, hybrid events allow attendees to attend an event in-person as well as remotely whereas virtual events do not comprise any in-person element. Here is a list of benefits of hybrid events:
- Increased Reach: Hybrid events offer enormous opportunities for businesses to expand their reach. Hybrid events allow organisers to make their content accessible to a wide spectrum of audiences. Attendees who are limited to attend a live event due to geographical constraints, financial crunches, or space limitations, can easily be part of hybrid events.
- Reduced Costs: Hybrid event format results in reducing the cost for both the parties involved. The cost of traveling and accommodation costs gets eliminated with hybrid events. Whereas the need for renting a venue with larger space capacity gets reduced with this event format.
- Greater Production Values: Hybrid events offer greater production value when compared to virtual events. The event format enables hosts, speakers, etc to appear from the studio as well as from their homes.
- Boost Growth: Incorporating virtual elements in live physical events boosts a company’s growth thus ensuring inclusivity.
- Impactful content delivery and engagements: Hybrid events offer many more benefits and have become the preferred choice of marketers today. It not only boosts the company’s growth and offers better production values, but offers much more. It engages a wide spectrum of attendees beyond geographies and delivers an immersive event experience with a substantial return on investment.
Virtual Events vs Hybrid Events which one to choose?
As scenarios have changed and we entered the digital era, the event industry is the quickest one to adapt to new ways of hosting events. Today hosting virtual or hybrid events have become a new normal.
Transiting a live physical event to a virtual event or hybrid event format is a daunting task. Both the event formats offer their own set of benefits that can help any organisation to grow and expand its reach effortlessly. However, resulting in amplified engagements, lead generation, and business revenues.
Selecting the event format depends upon the need and demand of an organisation. Determining the goals of an event is a must to opt for the right event approach. Virtual as well as hybrid events both allow attendees to meet, network, and collaborate in real-time, thus making the most out of the event.