If you are wondering what is all the fuss about hybrid events in 2021, you’re on the right page!
The event industry is undergoing a major transformation. Physical events were the norm until the last year when virtual events took over. Currently, hybrid event services are the most sought-after ones. According to 97 percent of event marketers, hybrid events will be more common than ever before. (2020, Bizzabo).
What are hybrid events? How do they work? Are these events beneficial?
This blog post seeks to lift the veil on the much-hyped hybrid events.
What is a Hybrid Event?
A hybrid event is one that combines the elements of an in-person and a virtual event. The entire event is customized to target both physical and online audiences at the same time.
Some common types of hybrid events that you can host are team meetings, conferences, trade shows, training, product launches, and any kind of marketing or sales event.
Both physical and digital events offer advantages that hybrid events can deliver on both if done appropriately. This being said, here’s why you should consider hosting a hybrid event.
Why are Hybrid Events Essential?
To put it simply, a hybrid event bridges the gap between physical and virtual events and brings together the best of both worlds. Here’s how:
1. Added Value for all Participants
In comparison to on-ground events, hybrid events provide a larger opportunity for businesses to network with industry professionals who grace the occasion at a lower expense. The presence of international corporate executives enhances the appeal and legitimacy of hybrid events among participants. As a result, the participants’ value creation is elevated.
2. Access to a Vast Set of Prospects
There will always be participants who wish to come to the event but are unable to do so for various reasons. At the same time, there will always be participants who are no more interested in attending a virtual event. With a hybrid event, you decrease the admission barrier for both populations.
Furthermore, the hybrid event approach overcomes geographical and logistical limitations to provide expanded access to audiences throughout the world.
3. Improved Audience Participation
One of the important benefits of hybrid events is increased audience engagement. According to a recent ‘Markletic’ survey, 81 percent of event planners believe networking capabilities are critical for a successful hybrid event. (2) Thus, it is really important to focus on the active participation of the virtual audience as much as the physical audience. Conducting audience surveys, Q&A sessions, and providing space for in-person and virtual meetings are just a few instances of how hybrid events may seamlessly engage physical and online audiences.
4. Amplified Opportunities to Get Sponsorship
A hybrid event gives you additional options when it comes to your sponsorship prospectus: you may have live sponsors, virtual sponsors, or a combination of the two. With and a larger audience reach, hybrid events create more sponsor interest. The hybrid phenomenon attracts sponsors to a platform that allows them to sponsor live streams, applications, and other content. Apart from conventional collateral sponsorships, virtual ones improve audience involvement and provide great commercial possibilities while also generating considerable income.
5. Improved ROI
Planning a hybrid event is not as expensive as it sounds. In fact, it is a cost-effective approach as a result of a significantly lower physical audience. As a host, you can afford to have your event at a place with a smaller audience capacity, which cuts out one of the major expenses. Further, less catering, parking, and travel bring down the total cost substantially.
6. Access to Insightful Data
One of the most significant advantages of hybrid events is the data and insights they provide. Your hybrid event strategy must include an integrated feedback mechanism to see how many people attended, as well as how engaged they were and when they left the session. With such insights, you may learn more about the preferences of the audiences for your future events. Sponsors, meanwhile, obtain valuable information on booth traffic and guest interaction, allowing them to demonstrate a favorable ROI.
Looking at the above-mentioned benefits of event strategy, it can be deduced that the hybrid event model is poised to define the future of the event business while also serving as a key component of an organization’s event strategy. It includes worldwide access to a highly qualified audience, which defines an event’s overall success.
So, don’t allow the intimidation associated with hybrid events to deter you from giving it a go because the timing is ideal, and technology is more readily available than ever before!
Looking for a Hybrid Event Agency in India? Channel Technologies, with expertise in events and technology, is here to assist you. With 4,000+ on-ground events and 1000+ webinars, we can take care of both the offline and online aspects of your hybrid event.
Contact us today!