How Can You Generate ROI Using Virtual Events

  • Chandi
  • 28th July, 2020
why virtual events are better than in person events
Virtual Events, Blog

The demand for Virtual Events has seen a steady rise ever since Coronavirus has taken over the entire world and made people's lives recluse. While virtual events have been present over the years, most people have never tried testing the waters and always opted for physical events over virtual events.

The landscape of events seems to have changed as people are now afraid of attending any gatherings. Keeping safety measures in mind, a lot of brands have taken a leap this year and are organising virtual events. Conferences, trade shows, and exhibitions all have a motive in common – they are used as marketing tools by brands and organisations to engage with their consumer base and generate leads. While we know what’s in it for brands to organise virtual events, we are going to delve into how brands are generating ROI from these virtual events.

Over the years, people have chosen on-ground events based on the belief that they are more interactive than any digital communication. While face-to-face interaction does have a charm of its own, is it really more engaging than virtual events?

The truth is both traditional and virtual events have their own sets of pros and cons, but let’s look at what gives virtual events an edge currently and in the times to come. One of the main purposes of hosting events is to generate leads through networking sessions, and virtual events are a mine for data collectors. During any exhibition and event, it is difficult to keep a track of your audience, getting their business cards or any sort of feedback. Virtual events provide real insights as the hosts monitor everyone’s activities online. You get a clear idea of which session worked with your audience, who did they interact with, how much of the content was consumed by them, which demos they viewed or which booth they visited. Therefore, virtual events eliminate guesswork and provide actionable intelligence based on hard facts.

Virtual events have a wide reach and can target global markets as well. The scalability of virtual events results in lead generation as they are accessible to anyone who has a smart device and internet bandwidth. The more the people are aware of your brand, the bigger your consumer base. The audience growth is substantial as virtual events eliminate discrepancies such as physical barriers or time zone differences. Virtual events are an important tool in supporting two major marketing strategies- awareness and advocacy.

global virtual events

Virtual events are very cost-effective and yield better results than traditional events. You don’t have to plan out the travel costs, the venue budgets or any other type of logistics. The virtual platform is tailor-made to suit your brand for a much better price. As organisations and brands are suffering from severe revenue slow down and pay cuts, it is important to reach out to your employees and consumers, and keep engaging with them.

Feedback is an important feature that lets any organiser understand how he has fared so far. While collecting feedback is a bit of a task with on-ground events, data collection from virtual events is very easy. The brand can understand the pulse of the target audience through feedback sessions and get clarity on the exact needs of the audience. The audience also feels valued as their opinion is taken into consideration, which in trun promotes long-term brand loyalty.

Virtual events in the coming days will prove to be an indispensable marketing tool that the brands will leverage to create their consumer base. With clear set ROI and other benefits at play, it’s time to ditch the traditional way of executing events and going digital.