5 Reasons Why Virtual Events are still more Profitable than Offline Events!
24 August 2021
“Virtual” or “online events” the term widely became popular during the pandemic. Hosting and managing an offline event was impossible back then for Event planners, managers, and everyone associated with the event industry. They have to have some alternatives to keep their businesses running, to keep the revenue flowing. And then comes the life-changing era...
The Virtual Era!, The virtual Era was not less than a miracle for events and the entertainment industry. People can attend webinars, seminars, product launches, concerts, exhibitions, anything from their space doing anything at any time. What more do they want?!
Virtual Event is turning out to be an addiction for event managers, The amount of return they are getting compared to offline events is exponential. Not only in terms of revenue but also in terms of ease. They started questioning themselves why were they doing offline events in the first place?!
But now that the situation is a little under control (only in a few states), the question is “ Is Hosting a Virtual event still profitable?”
Here are the 5 Reasons Why Virtual Events are more profitable than Offline Events:
Large scale events
Offline events limit you. It limits you in terms of demographics, languages, timing, many things! But with virtual events, one can host and manage events for as many people as they want for as many hours as they want.
And all that without even leaving their room or space. Isn’t it magnificent?
Nowadays people don’t have time, they can’t just wait for the guest speakers or chief guests to arrive and then you know to hear their little speech before the event starts, we all have been there and it’s boring.
With virtual events, on the other hand, one can host an event without time being the constraint. The audience can attain the event at whatever time they want without missing a single minute. They can even rewatch their favorite moments of the whole event. No more regrets of missing out on important parts of an event, just with Virtual Events
Virtual events will not harm the environment, no traveling, no air-conditioned rooms, no fancy decoration, or no loud music. And it won’t get canceled or delayed even if the weather is unreliable or we are in pandemics. So win-win situation for all.
Real-Time Analytics and Feedbacks
Your event will look perfect to you and your team but how much does it engage your audience, what are their thoughts about it. A lot more analysis you have to do after the compilation of an event.
With Online events, the organizers get an in-depth analysis of the event with real-time analytics. It compares multiple factors at a time and gives results with just a single click.
Feedbacks are the most important thing If you are hosting an event for the first time. But constantly asking people for feedback is a little bit of torture. With Virtual Event Platforms, one can simply insert a feedback form at the end of an event, or send them an email afterward with all the registration details obtained from analytics.
Organizing an offline event includes a lot of expenses. It includes Venue cost, Audio, and Visuals, Third-party vendors, Event Rentals, Entertainment, Decor Vendors, Administrative Fees, etc. But with Virtual Events, you only have to pay for the platform, no additional cost, and invite as many people as you want for the same cost. And with DIY web-based event platforms, you don’t have to rely on anyone, you can solely create and host Virtual Events/Exhibitions with ease.
The truth is that We all had some memories of attending in-person functions/events. But the situation is different now. I know we humans live for entertainment but we have to give some priority to our health and that’s one more reason why virtual events are better than offline events, at least for the foreseeable future. Virtual Events will always have an edge over offline events for all the factors, and we can’t change it.
This is the end guys, I hope you learned something today.
Virtual Events are the best way to engage, interact and attract a global audience from one platform. With all the digitalization going on and the younger audience base, I can assure you one thing “ Virtual is the next big thing!”
Melzo.com has the simplest platform for hosting incredible events such as Virtual events, Virtual Expos, Virtual Seminars, Virtual product launches, Virtual Meetings, Virtual Concerts, Virtual Workshops, and more. Check out mela.melzo.com