Maximize the Power of Virtual Events

According to a report by Allied Market Research, the global virtual events market was estimated at $306.3 billion in 2021 and is forecasted to reach more than one trillion dollars by 2031. This growth, pegged at 13% CAGR for ten years, shows the enormous potential of this industry for performers, brand and business owners, event organizers, and many others.

About 30% of this market is expected to come from North America, owing to the growing popularity of digitally simulated gatherings. Here are some facts and tips:

9 Benefits of Doing Virtual Conferences:

1. Cost-effective: Virtual conferences are often less expensive than in-person events since there are no travel or lodging costs.

2. Convenient: Participants can attend virtual conferences from anywhere, which eliminates the need for travel and allows for greater flexibility.

3. Content-rich: Virtual conferences often have a greater variety of session options with more access to contents, as it is easy to record the presentation and share it with attendees.

4. Efficient: Virtual events are more efficient in terms of time. They are often offered as on-demand content, which allows participants to watch sessions or presentations at their convenience, rather than having to be present at a specific time.

5. Environmentally friendly: Virtual events are more environmentally friendly as they reduce the carbon footprint and the number of resources required.

6. Engaging: Virtual events, when done right, can give attendees opportunities to engage effectively, including use of live polls with immediate results, the use of Q&A and live chats, breakout rooms, spotlights, and other ways for gamification and engagement,

7. Networking opportunities: Virtual conferences often provide opportunities for networking and connecting with other participants through chat or video conferencing.

8. Accessibility: Virtual conferences can be accessible to a broader audience, including those who may not have been able to attend an in-person event due to location or mobility issues. Also available are tools like closed captions for hearing-impaired attendees and multiple language transcription to make the contents globally accessible.

9. Greater reach: Virtual conferences can reach a global audience and allow more attendees to join the conference.

21 Ways to Create Engaging Experiences

When organizing a virtual event, it›s important to remember the audience and the event›s purpose and then come up with a strategy that aligns with the goal. Here are some ways available to engage your audience:

1. Create an event schedule that keeps attendees engaged. Mix up the format of the sessions by alternating between keynote speeches, panel discussions, Q&A sessions, interactive workshops, and include breaks to keep attendees engaged.

2. Allow attendees to customize their own experience by allowing them to pick and choose sessions they want to attend.

3. Use breakout rooms to create smaller, more intimate groups for attendees to network and interact with each other.

4. Build opportunities for attendees to network, such as virtual networking lounges or coffee breaks, to keep attendees engaged and connected.

5. Organize pre-event activities, such as webinars or virtual meetups, to build anticipation, and post-event activities, such as virtual happy hours or follow-up webinars, to keep attendees engaged even after the event.

6. Utilize virtual networking tools, such as the built-in networking features of the virtual event platform or third-party networking apps, to enable attendees to connect.

7. Use virtual exhibitor booths to enable attendees to interact with vendors and sponsors.

8. Provide virtual business cards to attendees to exchange contact information.

9. Use virtual meetups to enable attendees to connect with people who share similar interests.

10. Connect attendees with others who have similar interests or business goals through matchmaking sessions.

11. Schedule regular breaks throughout the event to allow attendees to stretch, grab a snack, or network with other attendees.

12. Create a sense of community through the event›s platform, chat, and social, and encourage attendees to interact with each other and with the speakers and hosts.

13. Use gamification to create fun and interactive activities, such as virtual scavenger hunts or trivia, to keep attendees engaged and motivated.

14. Enable live chat and allow attendees to communicate with each other in real time.

15. Offer live polls and Q&A sessions to encourage engagement and interaction among attendees.

16. Use engaging presentation techniques, such as storytelling or infographics, to keep attendees interested in the content.

17. Offer live closed captions and sign language interpretation during the event, enabling attendees who are deaf or hard of hearing to access the content in real time.

18. Use high-quality video and audio to create a professional and immersive experience.

19. Capitalize on live streaming to create a sense of immediacy and to allow attendees to watch and participate in real time.

20. Make the event mobile-friendly so that attendees can join from their mobile devices.

21. Provide a way for attendees to give feedback and rate the sessions. This will help to identify the sessions that are most engaging and to improve future events.

10 Ways To Monetize a Virtual Event

Monetizing a virtual event can be achieved through various methods, including charging a registration fee, selling sponsorships and advertising, renting virtual exhibitor booths, offering on-demand content, and product or service sales. Here are some ways to monetize a virtual event:

1. Ticket sales: Charge a registration fee for attendees to access the event.

2. Sponsorships: Sell sponsorships to companies or organizations that want to promote their products or services to the event›s audience.

3. Advertising: Sell advertising space on the virtual event platform or website to companies or organizations that want to reach the event›s audience.

4. Virtual exhibitor booths: Rent out virtual exhibitor booths to companies or organizations that want to showcase their products or services to attendees.

5. On-demand content: Offer on-demand access to event content for a fee after the event has ended.

6. Product or service sales: Offer attendees the opportunity to purchase products or services related to the event›s topic during or after the event.

7. Lead generation: Sell access to attendee contact information to companies or organizations that want to reach the event's audience.

8. Affiliate marketing: Partner with companies or organizations that sell products or services related to the event's topic and earn sales commissions.

9. Consulting: Offer consulting services to companies or organizations that want to learn more about the event's topic or how to host their own virtual events.

10. Virtual networking: Offer attendees networking opportunities and charge a fee for premium access to those opportunities.

If you have an expertise that a group of people would want to learn, you can create a virtual event even when you have no social following through the power of targeted ads that your ideal audience will see. It is important to plan with an experienced virtual events producer to choose the monetization methods that align with the event›s audience, topic, and goals.