Virtual Events vs. Traditional Events: How Do They Compare?
As the world gradually recovers from the global pandemic, hosting traditional events has become a real possibility again. But why do a virtual event?
While traditional events are impressive in their own right, virtual conferences and tradeshows offer some key advantages that shouldn’t be overlooked. Let’s take a closer look at what virtual events bring to the table and answer the question: should you still consider hosting a virtual event?
Going virtual expands your outreach
Conducting your conference or tradeshow virtually makes it easier for attendees from different parts of the world to participate simultaneously. While traditional events involve travel costs and times, and hassles such as arranging accommodation, users can attend virtual events from the comfort of their own homes.
Thus, a virtual event allows organizations to reach global audiences and diversify their pool of attendees. Moreover, reaching more prospects also increases your overall attendee count.
The registration process is simpler for attendees
For virtual events, the signup process couldn’t be more straightforward. Attendees simply enter their details in and are then asked to confirm their registration via email. Come event day, participants just need to open their email and click the invitation link to join the virtual event.
Given that nearly half of virtual registrations attend the events live, and ten percent view the sessions on-demand, the hassle-free registration process clearly produces positive results.
You can invite as many attendees as you want
Physical venues have, well, physical limitations as far as space is concerned. Thus, organizations can only invite a limited number of attendees.
In contrast, a premium virtual events platform can host more than hundreds of thousands of attendees with ease. However, some virtual solutions lack the resources to perform well at scale – a spike in attendee count could cause lag or affect the streaming quality. So, to ensure optimal performance, it’s best to opt for a platform like BuzzCast that’s designed to function effortlessly at scale.
Virtual events are cost-friendlier than their traditional counterparts
Why do a virtual event? Well, one attractive reason to go digital is the cost-saving involved. While hosting a virtual event certainly isn’t free, the cumulative costs are much lower than what you’d invest in a traditional event. For traditional events, you have to pay for the location, ushers, personnel, refreshments, and more.
When you go virtual, location costs are replaced by the fee for the hosting platform, and physical support teams are traded for virtual ones. However, in general, a virtual venue costs much less than a physical one, and you save on costs such as travel, refreshments, and other overhead expenses.
Thanks to the lower costs, organizations can offer lower ticket prices and attract more of an audience, thus increasing your attendee count and reach.
Virtual events platforms provide you with actionable data and analytics
In in-person events, figuring out how many questions were asked, or how long your audience listened to a conference is difficult. Since virtual events are hosted on digital platforms, monitoring user engagement and collecting data is easy, and the process is automated.
With virtual solutions, event organizers gain access to a rich repository of actionable insights, including trackable user data, information regarding leads, session engagement statistics, video downloads, and much more. But why do you need all this data?
Well, relevant data and engagement metrics help corporations better direct their post-event marketing efforts and also identify areas of improvement for future events. With actionable insights, you can increase your ROI and ensure future virtual events perform even better.
You save hundreds of hours a year
89% of organizations that use virtual events solutions reported approximately 200 hours saved in a year, while 20% saved at least 360 hours annually (source: Bizzabo, 2019).
Moreover, 56% of marketers shared that it takes them just 2-4 weeks to organize a small event virtually. In comparison, in-person events can take months to plan, especially for larger events.
By going virtual, marketers don’t forego any relevant business operations – organizers still have to set up registration, plan the event, promote it, and more. However, a virtual environment facilitates a more integrated process, streamlining your operations and saving time overall.
You can leverage on-demand content to increase ROI
One of the many advantages of using a premium virtual events platform is gaining access to recording features and technology. Organizers can record their entire virtual event and share the sessions as videos on demand.
After the event is over, you can leverage the on-demand content to generate more revenue. For example, you can sell access to the content to people who could not attend the event. Similarly, if attendees were unable to attend certain conferences, organizers can grant them access to the on-demand content through a paid self-serve portal.
Why do a virtual event with BuzzCast?
Picking the right virtual events platform to host your event is vital, as the virtual solution directly impacts your event’s success. BuzzCast is the premium virtual and hybrid events platform of choice for industry giants including Uber, Just for Laughs, and the Bill & Melinda Gates Foundation. This is because our platform offers enterprise-grade security, optimal performance at scale, and the best production team to help realize all your event goals.
Schedule a demo with us today to learn more about how BuzzCast helps businesses design the perfect virtual event