Even though the thought of hybrid events is a dangerous one, it is nothing to fear about. Compared to a complete live event, they are easier to host. The hybrid events do not need a high ton of technology like augmented reality, or virtual reality. A quality hybrid event comes up with the help of accessible technology and does not need professional expertise. This article deals with what hybrid events are and their benefits for the organization.
Hybrid events are a mix of live and virtual events and it becomes complete with the help of an audience and more content. A virtual component can also be added to the live streaming platform, like Dreamcast, for better engagement with the audience. Engagement is the factor that distinguishes between a live and hybrid event and it affects the effect of the entire event.
BENEFITS OF HYBRID EVENTS
A lot of people do not see the benefits behind hosting a hybrid event and if they are worth the extra setups and resources. The concept of a hybrid event came up for the first time in 2012. Even though in some hybrid events the participants cannot commune, their curiosity about knowledge remains the same. Some of the benefits of hosting a hybrid event are mentioned below-
1. Enhanced awareness and reach
A misconception is prevalent which says that the audience can either be physically present or virtually in the event and no in-between live streaming services work. Hosting a hybrid event does not mean that the attendance is split in half but it gives out greater reach and more attendees.
Nearly 98 percent of attendees do not attend a second hybrid event which means the focus is on the newer audience who is either uninterested in going to the live event. The attendance is thus boosted by the people who are interested in the event. The barrier of demographics is lower in the case of a hybrid event and the reach thus increases immensely.
2. Sponsor opportunities increase
According to a study, an average of 72 percent of the corporates are interested in participating in a hybrid event because these are cost-effective. The reach is spread to both offline and online audiences and thus the larger lead means increased advertisement.
The interested parties can communicate with each other while interacting with the audience virtually and the participation in the virtual booth is thus increased. In the case of the events live streaming, the sponsorship opportunities also increase. The sponsorship prospectus becomes more flexible.
3. Engagement with the audience
Another benefit of adding a virtual event to the live event is that it adds up an opportunity for a better engagement with the audience from people of different places. Both the virtual as well as live audiences can participate in the event with their devices.
This helps both the live and virtual audience to benefit from each other and one particular area in the event can be allotted for the in-person meetings with a proper schedule. It is also important to keep a track of all these avenues.
The hybrid event live streaming helps in decreasing the expenditure by saving up the travel costs all across the board. The attendees are saving their money along with the travel costs for the sponsors and crew. Since many companies have offered a permanent work-from-home solution to the employees, it allows them to attend a hybrid event.
It is therefore preferred that whenever the budget is tight, go for hybrid events as it bridges the gap between the two extremities.
5. Beneficial for the environment
The live streaming services providers help in reducing the harmful impact on the environment by saving the hassle of travelling. Face-to-face meetings will always be of utmost importance but the hybrid way helps to accommodate all of it in one while providing other benefits.
The audience can take part in the event and enjoy it while helping the environment by reducing the in-person headcount.
A lot of companies prefer to keep their events exclusive but instead hybrid events help in reshaping the digital content which keeps a steady stream. The virtual event live streaming adds the benefit of recording everything with a higher focus.
Future marketing campaigns can also be planned with the help of a networking tool thus helping in increasing the headcount in both live and virtual events.
7. Data valuation
The data and insights from the hybrid events give enormous benefits and since the participation numbers are high, the information of the attendees needs to be noted down. The sponsors gain benefits both online and offline thus having a positive return from the event.
The online event provides a lot of trackable metrics and helps in learning about the event, eventually improving them in the future. A lot of insights are provided with the help of hybrid events.
8. Return on Investment
The ROI calculation is difficult due to the scalability and increased reach. Since the attendance increases, the number of views of the recording also increases. This provides a lot of data for accurate reports.
A virtual event does not need an entire crew to set up and take down and the potential to scale up virtually is greater. The on-site costs are, thus, cut and the larger audience helps in a better margin.
The hybrid events do not have a rigid structure and the online events can be arranged according to the convenience of the live streaming provider.
10. Addressing needs
The needs of the audience keep changing in recent times and a hybrid event helps to cater to the need in a better way.
Hybrid events have many advantages over live events by compromising a bit on the experience. They are an immense source of knowledge and easier to organize and attend by saving time and costs. The article briefs about all the benefits provided by hybrid events both as an organizer and as the audience.