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4 Reasons virtual events aren’t going away!

In 2020, the year most events went virtual for reasons that we don’t need to discuss, the global virtual events market was estimated to be worth approximately £70 billion.

This number is only going to grow in the next five years and this space is definitely one to watch.

An increasing number of corporate conferences, meetings, and exhibitions are making a move to digital, and, as an event marketing agency, at First Event, we are seeing this first-hand. But, why are virtual events here to stay?

1. Moving Towards Sustainability by Moving to Virtual Events

80% of N100 companies worldwide now report on sustainability, and the number of Certified B Corporations has grown to over 4,000 across 70+ countries. So, it’s not surprising to know that more businesses are incorporating sustainability into development goals.

Virtual events are, arguably, more sustainable than in-person ones. Especially if you consider how you travel to and from more traditional corporate events. On top of this, the environmental impact of running an event venue is different for digital events than the light, heating, and electricity demands of in-person spaces.

In the shift to sustainability, there is a greater incentive for choosing virtual events and, environmental considerations are playing a bigger part in business decisions.

2. Virtual Event Marketing Strategies

Not only can digital events help the move towards sustainability, but they can help improve returns and your marketing strategy.

Whether you are looking to develop your marketing mix or want to secure additional sponsorship, the planning and organisation time you can save by hosting a digital event can be valuable. If you want to save more time, why not look into working with an event agency that lives and breathes events?

In addition to this, many virtual event platforms offer software that can help you track performance and monitor returns automatically. This allows you to attend your event, watch the guest speaker you’ve had lined up for months, and interact with your attendees.

3. Digital Events and Hybrid Working

Are you skipping the miserable Monday morning commute in place of a lazy morning and late breakfast? Whether you sit at your desk with your dog on your lap or at your kitchen table with your cat twisting around your feet, it is predicted that two in five employers will fully embrace hybrid working by next year.

From big brands to small businesses, companies are seeing the benefits of working from home. For example, productivity levels are estimated to be 47% higher than those who only work in person.

So, it makes sense that virtual events are predicted to grow in popularity! Plus, attendees have the option to be at digital corporate events while continuing with their work from home routine (slippers are optional).

4. Attendees & Speakers at Virtual Events

It can be easier to find inspiring speakers for virtual events because they can work keynote speeches around other commitments and are not limited by location. If you want a big business guru at your next corporate event, you may be more likely to get them to agree to attend if you are hosting a digital event.

On top of the interest that a keynote speaker can bring, virtual event attendees can easily engage with each other and the sessions. No more awkward passing of the microphone to the audience member with their hand up, virtual platforms often have a chat box to place questions.

Get in touch!

Just like virtual events, First Event is here to stay. With an excellent team who can help with planning, execution, and more, why not contact us!