You may be thinking, “Virtual events? Isn’t that just like a webinar?” And you would be right, in many ways. But virtual events can also encompass a wide range of activities that go beyond a simple webinar. From online trade shows to product launches, virtual events have become a powerful tool for businesses of all sizes. Here are three reasons why SMBs should be holding virtual events.
Virtual events are much cheaper to hold than in-person events. Some sites even note that it can be about 75% cheaper to execute a virtual event than an in-person event. SMBs often have smaller marketing budgets, and these savings are substantial.
On top of the savings, the opportunity to have massive returns on that event investment cannot be understated. Some companies have even seen an 1100% ROI from their ticket sales alone! Taking the enormous ROI and combining it with the ability to receive feedback and real-time usage statistics from your virtual event will allow you to rapidly improve your events and put together more effective events quickly that meet your attendees’ expectations.
With the ability to monetize your event by leveraging sponsorships and ticket sales globally, your business must be looking at virtual events. Your virtual event platform must be versed in events ranging from trade shows to summits to product launches. It should be able to come alongside you and provide substantial assistance in putting together your event.
Virtual events offer unmatched flexibility! Attendees love the ability to watch your content when they want, wherever they want. Active participation through live virtual events can be customized to individual preferences, allowing attendees to maximize their engagement within an event. This can lead to Q&A sessions and external social media discussions that generate buzz and excitement for your event.
Travel costs and corresponding environmental impacts are also dramatically decreased when your event is held virtually. Airline tickets, hotel rooms, food and drink, and more are all largely, if not wholly, eliminated, along with any potential travel restrictions. Your organization, along with your speakers, sponsors, and attendees, will benefit from reducing their costs to attend your event, which will bring everyone’s stress levels down, leading to a better event.
Finally, your attendees will get more options on how to consume your content. You can offer different ticket types which provide only On-Demand viewing or offer only live session tickets to allow for maximum interaction between attendees and sponsors. The choice is yours on what you provide, and your attendees will be grateful for the different options available on how they access your event.
Most importantly for SMBs, virtual events or virtual summits can help bring brand awareness. Dan Martell says that virtual summits can help you and your organization gain credibility in your industry, even if you are just starting out. They also provide incredible lead generation opportunities and allow you to network with the ‘right people.’
If you are trying to start speaking at other events, hosting your own event can be ideal. It allows you to gain experience in a virtual speaking environment, which has its own best practices regarding content, while allowing you to begin getting your name out there as a speaker.
If you’re looking for a way to boost your business without breaking the bank, holding a virtual event with vConferenceOnline is the perfect solution. With our help, you can easily create an engaging and successful online event with a high ROI and promote your brand name far and wide. Ready to become your organization’s Event Hero? Click below to learn how you can get a free Fully Managed virtual event and transform your business today!
While SMBs should be looking at virtual events, 40% of companies don’t have a documented content strategy. Click below to access our free resource to create a Winning Event Strategy to increase your event revenue and registration retention dramatically!