Online conferences and events were growing in popularity before 2020 – but since the onset of the pandemic, investment in web conferencing software has grown approximately 67% (according to a recent TrustRadius survey).
In 2023, virtual events are still going strong, and we predict the demand will only increase. Here’s why!
1. Online Events Are Accessible
Accessibility is built into virtual events. Attendees can access the event from the comfort of home, without paying for travel costs or taking time off work. They can also attend without risking exposure to pathogens, which remain a concern – especially for those who are immunocompromised or have an immunocompromised person in their household.
2. Online Events Are Sustainable
In-person events have a significant carbon footprint. This includes the emissions generated by attendees traveling to the event, energy required to power a large venue, all the trash produced at an in-person event and more.
Of course, not even an entirely virtual event eliminates pollution and emissions completely. It takes energy to power the computers and servers that facilitate these events. But the emissions can be significantly lower. In fact, in 2020, the University of Michigan released a study that demonstrated how a recent online conference of theirs produced 66 times less carbon emissions than an equivalent in-person gathering.
In addition to being good for the planet, pursuing a sustainable strategy can be a competitive advantage for your event and company. Sustainability is a major and growing concern for people all over the world. Studies have shown that as many as 80% of consumers consider sustainability when making purchasing decisions, and this is especially true for Gen Z.
3. Online Events Are Affordable
Not only are virtual events affordable to attendees, who don’t have to pay the costs of travel to attend, but they’re also affordable for the organizers. You’ll save money across the board on venues, setup and takedown, meals, travel costs, staffing and more.
According to a recent Aventri survey, virtual events are approximately 75% less expensive to organize than in-person events!
4. Online Event Metrics Are Easier to Evaluate
While you can track various performance metrics for an in-person event, it’s easier (and automated!) with online events. Depending on your platform’s capability, you can track all kinds of performance metrics to help keep a finger on important information and evaluate your return on investment. These include:
- Number of registrations and attendees (first-time and returning)
- The companies that various attendees work for
- Social media and on-platform engagement
- Most active attendees
- Most highly-attended and engaging speakers
- Response rates for live polls
- Volume of chat messages
- Website traffic, email sign-ups, and conversions after the event
There are plenty of reasons why virtual events continue to be an attractive option for organizers. We predict that with new technologies and capabilities, online events will continue going strong in 2023 and beyond.
Interested to find out what a virtual event could look like for your business? Call (707) 429-0877 or email firstname.lastname@example.org for more information.