There are multiple benefits of a virtual event. While some of them can be measured in hard dollars, others cannot.
Travel expenses are an important point. For physical events, participants often have to fly around the world, stay in a hotel, drive to the exhibition center, and so on. This changes with the virtualization of events. No more bills from airlines, hotels, or cab drivers. Considering these travel costs, the business case behind an online event is obvious. Also, considering the direct costs for the exhibition center or the catering, this calculation is even more in favor of virtual events.
Enhance reach and interaction
Furthermore, you can significantly increase the reach of events! Even if travel expenses are not an obstacle, some people might simply not have the time to travel to the event from a distant place. While common broadcasting solutions are usually able to increase the reach, they do so at the expense of rich interaction. With a virtual event you can achieve both: increased reach with a high degree of interaction.
There are also other, less visible benefits of an online event. While participating in a physical event is a binary decision, either you attend or you do not, a virtual event allows you to participate in exactly those parts which you are interested in. You just want to see one keynote and briefly talk to one of your consultants at a specific booth? You can do just that and be back at your desk after an hour if the event is virtual. Try this at a physical event! Virtual events remove time and place restrictions and ensure that everyone who wants to participate can do so. Our platform ensures that this interactivity is just as good as it would be on a physical event.
By virtualizing an event, you furthermore contribute to a sustainable economy. Traveling (especially inter-continental flights) is a main source of global warming (Carbon Footprint Calculator). This extensive traveling is no longer necessary for attending an online event! Therefore, by virtualizing physical events you can save up to thousands of tons of greenhouse gas emissions!