Pros And Cons Of Hosting Virtual Corporate Events
Due to rapid innovations and digitalization, most organizations have migrated to the remote work model. Not only has digitalization impacted the corporate world, but its effects extend to individual homes too. This can be seen by how often people use their mobile phones and computers to communicate with each other through video conferencing applications.
Therefore, it’s now increasingly common for corporations to host online events and business meetings because of these technological capabilities. However, they also have their advantages and disadvantages. That said, if you’re stuck between choosing whether to host a corporate virtual event, here’s a list of some pros and cons to consider.
- Reduced Costs
The cost of hosting virtual corporate events is less than hosting a physical event. Costs for booking accommodation, hiring guest speakers, conference centers, traveling expenses, and the like go into hosting a physical corporate event. Of course, not every event will have the same cost structure. Nonetheless, on average, arranging virtual corporate experiences is exceedingly cheaper than organizing physical events. You can then invest the money that you save elsewhere.
- Time Savings
With virtual events, you get to save time because they are more direct and fast-paced. Plus, there’s no downtime to plan for and arrange the logistics of a virtual event. That means venue preparations are out of the picture. Therefore, you save time and money by going virtual.
- Easy Information Determination
Now, at events wherein there are a lot of speakers or lengthy discussions going on, understand that some people may lose focus. It’s normal for some people to have short attention spans. So, virtual events enable the organizers to record these events such that those who wish to catch up or clarify something they missed have a look at the videos again. Even for those who have missed the live attendance, they too can catch up with the rest. So, it’s great for spreading information to a group of people.
- Reduced Barriers to Attendance
Since everything is now online, those who don’t want to attend the live events simply have the option to watch online. There are many barriers to physical event attendance, such as the costs, location, and accessibility. These are the exact barriers that affect meeting attendance numbers. Virtual meetings do away with these. Reducing barriers to attendance increases the chances that many will attend the virtual event. All you need is an internet connection within a virtual private server and a device you can use to view this event.
- Data Gathering Opportunities
Depending on the platform you’re using, there’s a potential for you to track and gather analytics. As the host, you may find certain information particularly valuable. From this information, you can see how you have performed against your targets and metrics. For example, during or after these virtual events are complete, you can adopt surveys or questionnaires that attendees can fill in. They can provide feedback that’ll help you improve on your virtual events in the future.
The great thing about virtual events is that they are quite accessible. Most meetings have the facility wherein you can record everything that’s going on. Plus, it’s just easy to arrange such meetings. All you need is a valid link and a functional server. Anyone who has access to the link can enter the event.
Hosting a corporate event means people are viewing or attending those events in their own home spaces. Sometimes, they don’t even have to be home. Perhaps in a café or some other quiet place. But the problem is working from home is fraught with distractions. It doesn’t mean that everyone will get distracted, but the chances are high.
Take, for example, those employees who have children. Disturbances are quite common in those households and if the children are causing a problem, it may interrupt the flow of the meeting and cause them to lose focus on the discussions at hand.
Another distraction could be the internet itself. If you’re at home, no one is monitoring your web activity. Instead of focusing, one may be tempted to surf the internet on social media or just web surfing. While professionals are expected to have self-control, you can’t rule out the possibility of such distractions happening.
- No Face-to-Face Interactions
While technology is great because it limits the need for human interaction, it’s also a drawback in that people crave a more personal level of communication. People are social beings. So, not having your colleagues around can be difficult.
The problem with these events is that there’s little to no chance for people to create organic networking opportunities. The great thing about normal events is the part where people get to chat, interact, and get to know each other over brunch or snacks after the meeting. But with virtual events, that’s non-existent. Even if you interact online and people take part, it’s not quite the same as the actual event where people attend physically.
- Less Excitement
Oftentimes, businesses will arrange big corporate events that may or may not include taking trips to special locations. Every employee looks forward to these experiences because even though they are technically work trips, there is a sense of excitement regarding the people they’re going to meet, the places they are going to see, and the food they’re going to eat. But with virtual meetings, that’s just not possible.
Now, the biggest advantage of hosting these virtual conferences is that they save money and time. Plus, they are very flexible because they do away with logistical issues associated with organizing corporate events. Especially those that are larger in scale. However, it also takes away the excitement and experience of personal interactions.