A survey recently conducted by Markletic, with 3851 B2B companies, shows that most organisations allocated around 20% of their marketing budget to their virtual events portfolio in 2021. The most considerable portion of this budget being dedicated to hiring online event software.
Even before the pandemic, event platforms were already a crucial part of successful corporate events. However, COVID-19 changed the game.
Some new questions arose, like: how much ROI does an event platform bring to virtual events? What will be the value added by virtual meeting systems when in-person and hybrid events come back? Is it all going to be enough to afford the costs of these virtual events platforms?
Firstly, one of the great benefits of an event platform is that it brings more intelligence to the event. They measure user adoption and engagement. They also improve communication with participants and reporting to stakeholders. These were benefits that only digital marketing was able to deliver until a few years ago.
Secondly, this story that nobody pays for online events has to be in the past. Companies and professionals pay for the event’s added value if they see how much value there is in having access to exclusive content and networking opportunities with people they are looking for.
By applying these concepts to the event market, event apps are making us see the gap that existed between digital and offline disappear. During this intensive season of virtual events we have seen in the last year, or so, it’s never been so possible to test and adjust.
The Spanish University IE University, for instance, saw 2020 as its first year of 100% online graduations. Their annual summit connected a community of more than 10,000 people, including alumni, family, and guest speakers from all over the world. The organisers worked diligently with EventsCase to create and engage attendees throughout an immersive experience that included Astronaut Dr. Cady Coleman’s participation, three-star Michelin Chef Dani García, and Grammy-nominated DJ Steve Aoki.
Another proof that organisers now have an untapped universe to explore is The Edinburgh TV Festival, one of the most prestigious media events in the UK. For the 2020 edition, they worked with the EventsCase team to create a unique virtual space that engaged 2900+ attendees throughout more than 50 sessions.
Event Profs now have endless possibilities of interaction between participants, whether they are attendees, sponsors, or speakers. We’re living the best time to make tests and do something different.
The future of events is being built now, with each action we take and each event we participate in, keeping an eye on what’s working or not, and perfecting it when it’s our turn to take center stage.