The global pandemic has been horrible. And while it would be inappropriate to claim there’s any silver lining, there have certainly been some interesting developments in certain industries and with specific global causes.
One of these developments is the increase in green initiatives and sustainability causes. In particular, we’ve seen how the rise of virtual events could produce a host of long-term environmental benefits.
The Rise of Virtual Events
Virtual events soared in popularity in 2020 as businesses were forced to shut down in-person activities and opt for safer gatherings that posed less risk to the health and safety of attendees. And while many in-person events have resumed, experts say this is not just a flash in the pan.
“Virtual events were already growing in popularity pre-pandemic, with the sector valued at almost $78 billion in 2019,” marketing insider Duncan MacRae writes. “It is expected to have a compound annual growth rate of 23.2% from 2020 to 2027, strongly suggesting this is anything but a temporary phenomenon. According to a recent study by LinkedIn, 45% of future B2B events will be completely virtual.”
MacRae cites further data from the UK and Ireland that shows 72 percent of businesses will be maintaining virtual events in the long-term, while 77 percent are interested in organizing hybrid events. It’s anticipated that just 32 percent of events will be fully in-person.
We can argue about what virtual events mean in terms of camaraderie and person-to-person connectivity, but here’s the reality: Going virtual is having a significantly positive impact on the environment. And the more this trend becomes the standard practice, the better the results will be.
The biggest benefit of virtual events is the energy savings. And this is the aspect that has business leaders and sustainability advocates excited.
“In-person events generally require a significant amount of energy. Traveling to the show is a significant portion of the energy attendees use for an in-person event,” Forbes.com mentions. “However, organizations looking at their carbon footprints should also consider energy usage during the event itself, which extends to every piece of rubbish people place in the trash.”
On top of these basic energy savings, there’s the digitization of materials and handouts. Rather than printing a 50-page handbook for 1,000 attendees, it can be delivered in a PDF format via the cloud. This might sound small, but consider the thousands of events that occur across the globe each year. Tiny savings compound to create real change.
How to Win With Virtual Events
In order to have success with virtual events, businesses must go all-in. In other words, it’s not enough to host a virtual event. If you want to stick with virtual events, you have to show a positive ROI. Here are several things to consider as you attempt to win big with virtual events:
1. Build a Team.
You need a team of people to successfully execute virtual events. This includes front end folks like speakers, content creators, and marketers. It also includes back end folks like web application developers and customer service professionals.
2. Leverage the Advantages.
Virtual events afford a ton of advantages that go far beyond environmental sustainability. For example, they allow you to gather more frequently than you could with in-person events. You also can gather better feedback and integrate more engaging features (like live polling, gamification, and other neat elements).
3. Prioritize Engagement.
Engagement is a huge part of live event success (and is especially important when it comes to virtual events). You can’t just stream sterile lectures and expect people to get excited. There has to be a two-way conversation. This is where chat features and audience engagement come into play.
There’s no script for successful virtual events – it’s still being written. But as long as you have some skin in the game, you’re going to be way ahead of your competition. Take action, gather feedback, and continually iterate to great. That’s the key to success.
Adding it All Up
The rise of virtual events has been one of the few positive developments of the global pandemic. It’s forced the business world to adapt to more sustainable practices (and it’s having a real impact on the environment). Be the kind of business that takes advantage of this movement, rather than one that tries to claw back to the way things used to be.
