The extent of event industry in context of a hybrid work culture
The huge reduction in Covid-19 cases as a result of global vaccination rollouts has revived businesses’ drive to foster human relationships through meetings and events. Emerging virus varieties like Omicron, on the other hand, are discouraging large-scale in-person meetings in closed-door locations, forcing businesses to reinvent their business work methods and rethink their B2B event strategy.
The innovative events business adjusts to an omnichannel marketing strategy featuring Hybrid Events in light of the current conditions, as organizations and employees progressively come to grips with the hybrid work culture. Audiences and organizations interested in combining the advantages of in-person and remote attendee involvement will profit from the twin-powered hybrid approach.
The adaptable and reliable hybrid model, which combines in-person and digital participation, connects a small-scale physical meeting to a large-scale worldwide virtual audience, resulting in increased marketability.
The events sector will most likely adapt to the hybrid model that will now define the future of events, according to a joint study done by sli.do and event industry professional body Global Meeting Industry Day (GMID). According to the survey results, 70 percent of respondents from 30 nations voted for Hybrid Events.
Given the ever-changing nature of virus infection rates and public mobility restrictions, hybrid events provide event planners with a viable choice for continuing to organize B2B events like conferences, seminars, product launches, roadshows, expos and award functions, and so on. As a result, businesses considering expanding their audience pool and increasing their market relevance should invest in creating content, communities, and experiences that promote audience engagement in the most favored medium.
In this post, we’ll look at some of the elements that are influencing the events industry’s move to a hybrid model, as well as the changing work culture:
High-Quality Lead Generation Possibilities
According to a Marklectic survey from 2021, 81 percent of event planners believe that networking opportunities at hybrid events increase audience engagement.
Marketers use strong networking methods to engage with a more diversified and large-scale virtual audience throughout the world, resulting in more high-quality lead generating chances.
Exclusive one-on-one “Meet The CEO” or “Meet The Executive” sessions are available for VIP guests and exhibitors at hybrid events. While attendees obtain valuable business insights and information directly from important decision-makers, marketers may take advantage of the networking opportunity to generate high-quality leads, fill their sales pipeline, and increase revenue potential.
Enhanced Conversion Rates
The post-event analytics report includes an extensive attendee database as well as insights into audience participation trends such as participation, average presentation watch time, resource uploads, and audience engagement via polls, Q&A sessions, surveys, and other methods. Marketers use complete insights into numerous event elements to create a powerful lead nurturing plan that enhances lead conversion rates and, ultimately, maximizes event ROI.
According to a Marketing poll, hybrid events are a wonderful method to interact and engage with a global audience for 47 percent of event marketers. Hybrid events provide larger scope for organizations to associate with industry heavyweights, thought leaders, renowned keynote speakers, and international celebrity guests, attracting a more diverse global audience, by overcoming geographical obstacles and time and economic restrictions.
A well-known lineup and a substantially larger audience pool are important draws for global sponsorship investments and exceptional B2B partnership prospects, resulting in a higher event ROI.
Since the breakout of the virus in March 2020, pandemic insurance for business events has been mainly unavailable or ineffective. If Covid-19 resurfaces or other unforeseen causes threaten the in-person events, organizations risk losing their whole investment.
Organizations can use the Hybrid Event model to protect their event investments against factors beyond their control, such as a global health crisis, terrorism, political instability, natural disasters, and so on. In the event of a cancellation, organizers can always fall back on the default virtual component without having to panic at the last minute.
Reduce Negative Environmental Impact
A significant reduction in physical headcount, including attendees and sponsors, leads to a reduction in resource demand, including travel, boarding and lodging, non-biodegradable event accessories, and non-renewable energy consumption, resulting in lower carbon footprints.
As marketers and event planners reconsider their B2B event strategy in light of developing Covid variations, flexible and powerful Hybrid Events are gaining traction and competing as a viable option for both marketers and audiences. The factors discussed in the scope of the article position Hybrid Events as integral to the B2B event marketing strategy of marketers and event planners in Hybrid work culture, with a range of significant benefits including high-quality lead generation, creative business solutions, improved conversion rates, and increased marketability.
The above article is authored by Paras Lohani, B2B Sales Arrow.