How to Improve Your Event Strategy: Lessons from Video Rental Companies

Today, video rental shops are becoming a rarity. They’re a relic of another era when their customers had different demands. As the world around them changed, they chose to defend what was familiar or “established” for them. They gambled and lost.

The world is changing once again, and the event industry must pay attention. Hybrid and virtual events will not be eliminated. While in-person events are on the rise once again, event planners must provide exhibitors, attendees, and speakers with the flexibility they desire and require. Organizations may boost their audience size, increase engagement, and maximize ROI from their events by providing such flexibility.

What can event planners learn from video rental companies and the changes they faced? Here are three key lessons to take away:

  • First, you have to be able to change with the times. If your event strategy is based on an idea that is no longer relevant or feasible then it will likely fail. Just like video rental companies, who were slow to embrace digital streaming, you need to be able to adapt to the changing landscape.
  • Second, you need to provide value. Video rental companies became irrelevant because they simply didn’t provide the value that consumers were looking for. The same is true for events. If your event doesn’t offer attendees something that they can’t get elsewhere then they will have no reason to attend.
  • Finally, you need to be able to measure success. In order for your event strategy to be successful, you need to have a way of measuring whether or not it is working. This could include things like surveys, social media engagement, or even post-event analysis. Without being able to track and measure success it will be difficult to improve your strategy in the future.

The bottom line is that hybrid and virtual events are not going away. They are only becoming more popular as technology advances and people’s needs change. If you want to stay ahead of the curve, you need to provide your exhibitors, attendees, and speakers with the flexibility they desire and require. And don’t forget to measure success so that you can ensure that you are providing value and meeting your audience’s needs. Ready to get started? Click below to schedule a demo of vConferenceOnline – the leading hybrid and virtual event platform. We look forward to helping you boost your audience size, increase engagement, and maximize ROI from your events!