The transition from physical to virtual in the event landscape in the pandemic year has led to numerous advantages for all event stakeholders at every point in time. The primary reason behind this has been the integration of the intelligence tools on the virtual event platform, which have helped redefine the platform structure and highlight all the benefits that can be derived from the virtual platform.
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Here are a few examples of how intelligence has been a game-changer across the board for the event industry.
How many attendees did the event register? Which sessions received the most engagement, feedback and were downloaded? The number of participants in Q and A’s and the polls? How many business cards were exchanged? How many attendees revisited the event for additional information? These are only a few references shared from the entire gamut of data analytics available for the stakeholders. For the attendees, the information is shared in the form of a detailed agenda of the event, including all the details on the speakers, sessions, networking, product demonstration, product queries, product availability, customer support and more. These analytics help calculate and deliver value for the stakeholders and the attendees across all the areas of the event.
Branding and Marketing
The most significant concern for virtual event organizers has been capitalizing on the branding in the same way they would in a physical event. Technology tools today help you create your own messaging by implanting your brand theme in the virtual event, and this can be a specific font, color, brand logo, particular images and more; several brand associations provisions are now also offered on the virtual platform. When it comes to marketing, artificial intelligence is available in smart matchmaking, which helps the exhibitors and sponsors understand the behavior of the attendees on their pages; this enables them to pitch the right products and services through the networking lounges and virtual booths on the platform from the potential leads derived from the analytics, similar to how it is done in a physical event.
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Return on Investment (ROI)
When it comes to any event, physical or virtual, the bottom line always is about understanding the outcome, the results, and the ROI (Return on Investment) the event has generated. This is where intelligence integration in the virtual event landscape plays a vital role. It shares with you the tools that act as a guideline to help determine the event’s success and the reasons behind it. It also enables you to understand how to plan and replicate this in the future to garner a further advantage. Event analytics and insights have become critical for marketing organisations to make informed decisions concerning ROI, strategize, factor in event spends, and plan budgets to incorporate events accordingly in their schedule.
Different kinds of Virtual Events
A virtual platform today is quite versatile in terms of the events hosted on it, including external and internal events. External events have been delivered in the form of conferences, trade shows, job fairs, product launches, educational summits and even medical conferences with live surgeries being telecasted, and several others. As for internal events, these include all the events covered under the spectrum of employee engagement initiatives such as annual sales kick-off meets, product launches, workshops, tradeshows, job and education fairs, hackathons and even town-halls holiday parties, coffee meets and more. All the events that were held only in-person earlier are now seamlessly being replicated virtually.
According to a Grandview Research report, from a $78B market capitalization in 2020, the virtual events sector is now expected to grow nearly tenfold to $700B plus over the next decade. Much of the physical event landscape’s value is likely to shift to new virtual and hybrid delivery models permanently. Intelligence today helps bridge the gap between physical and virtual and helps create the right balance and a base, which will be a mandatory pre-requisite for a hybrid model in the future.
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