Advantages of Running Hybrid Events
In these uncertain times where public health concerns are calling all kinds of public events into question, plans for a hybrid event are a great alternative. With a hybrid event, you can still reach the audience you need but you can avoid the public-health headaches that come with doing that at an entirely in-person live event at a fixed brick-and-mortar venue. There are some additional benefits that come with doing hybrid events, as well.
What is a Hybrid Event?
As the name suggests, a hybrid event combines elements of an in-person live event with additional digital elements that are tailored to the specific target audience. For instance, a hybrid event will feature a number of people attending the event at the pre-arranged venue as normal, but other attendees will see the event via a live stream online via the company website, or via social media, YouTube or another platform.
Advantages of Running Hybrid Events
1. Expanding Attendance
The hybrid element to an event is very often a great way to simply expand the boundaries of the audience without having to hire a larger physical venue. Where the in-person event can be limited to be profitable and exciting, but also in line with various health requirements in the post-pandemic era, the online space provides almost infinite room for additional virtual guests to hear the key messages and take part in the event in their way. If spreading the message far and wide is your goal, then a hybrid event is perfect.
2. Reduced Overheads and Better ROI
A full in-person event on a truly large scale will ramp up costs. More cost means more risk to you. Putting the bulk of the attendance online while keeping a select group for the in-person event means you can better plan and budget for the event. The virtual side isn’t free, but it costs less than a brick-and-mortar location, staff, security, and everything else that comes with that. The potential for a better return on one’s investment in the event is therefore also more likely.
Overheads are also reduced for those times when you find with short notice that part of the event needs to be expanded somewhat. For instance, if the online audience is expected to be much larger than anticipated, then expanding the capacity for all the additional traffic and data can be done quickly and for relatively small cost. What’s more, a greater online attendance, no matter how suddenly, just makes the task of attracting additional revenue streams and sponsorships all the easier, easily covering any additional costs.
3. New Revenue Streams
The online dimension also provides you with all new ways to make an event more profitable. Not only can you charge for online attendance, but you can also make use of a hybrid event for lead generation, sponsorship revenue and more. People attending the event online see it through a screen, and as the organiser of the event you have total control as to what goes on that screen. This control is valuable to the right kinds of vendors.
Some people believe that taking away the in-person element for many attendees takes away the meaning, but this simply isn’t the case. It’s perfectly simple to create online spaces through which virtual attendees can communicate. They can also submit questions to panels via online channels, and can be involved in online discussions, video conferences, webinars and other things that boost the networking and communication opportunities for those who aren’t in attendance.
Hybrid events give event organisers the best of both worlds. It’s clear then why more and more people are opting for hybrid events rather than simply committing to either in-person or virtual events.