Redefining Virtual Event Engagements
Over the past years, marketing professionals have pivoted their event strategy to virtual. In 2022, virtual events continue to become mainstream in reaching target audience and enhancing engagements. The global virtual events market is expected to reach US$ 385.1 billion by 2027 i, exhibiting a CAGR of 22.8% during forecast period 2022-2027.
Let’s take a look at the key event strategies that resonate with audience and the upcoming trends that will shape the industry.
Hybrid Domination
As event organisers saw the immediate need for virtual events, they have established a new standard for preserving the uniqueness of physical events while supplementing them with digital components. Hybrid delivery is set to dominate with 97% of organisations expecting to organise hybrid events.
Companies will require a solution capable of managing both virtual and in-person events, allowing individuals to engage in their preferred format and delivering the best experience to participants.
Metaverse Experience
People have begun to demand a more comprehensive virtual environment after attending virtual events for more than two years. In 2022, 81% of brands will match or exceed pre-pandemic event and experiential budgets. Incorporating components such as virtual breakout sessions and gamification is paving the way for real-time participation, immersive experiences, and metaverse events.
The metaverse is a persistent, high definition, three-dimensional environment where attendees can come together in one digital space with their virtual identities and enjoy highly interactive experiences.
Asynchronous Delivery
Asynchronous hybrid events refer to the in-person and virtual events occur at separate times. This is an emerging solution to 46% of event organisers who have struggled engaging virtual and in-person audiences simultaneously.
The usual practice of Asynchronous Delivery is to host an event physically, and provides a virtual broadcast of the session later for the remote audience. By freeing attendees of time bounds, organisers will be able to overcome challenges in coordination and focus on one group of audience at a time. This provides favourable customer experience and reaches event goals successfully.
On-demand Contents
To increase reach, virtual content may be accessed on demand. It may be stored as a pre-recorded presentation or captured through live speaker engagements. From a survey by Forrester in 2021, 75% of virtual event participants found that the access to on-demand sessions is the most valuable. Creating materials for audience to access at their own convenience allows them more time to deeply dive into the subject and facilitate productive discussions. As a result, organisers can generate continued engagement and a higher return on investment.
It is important for organisations to remain agile and innovative. With more flexible options for participation and networking, event strategies will continue to evolve as a result of shifting customer behaviour and uncertain environment. Creating value virtually will likely continue to proliferate in 2022 and beyond. Reach out to Regen8 to elevate your next virtual event.
i https://www.imarcgroup.com/virtual-events-market
ii https://welcome.bizzabo.com/reports/evolution-of-events-report
iii https://econsultancy.com/four-trends-driving-brand-events-and-experiences-in-2022/
iv https://www.markletic.com/blog/hybrid-event-statistics/
v https://www.bizzabo.com/blog/event-marketing-statistics
