What is a virtual event?

Everything you need to know about a virtual event

A virtual event refers to the online interaction of people/stakeholders/delegates for the purpose of learning/business/networking etc. A virtual event attempts to re-create the set-up of physical gatherings in the virtual environment. As the world is moving towards 5-G infrastructure and better internet connectivity, virtual events are on their way to becoming more and more mainstream. This process has accelerated amid COVID. In this article, we’ll discuss all these aspects of virtual events in detail-

How is a virtual event different from physical events? 

There are obvious differences between a physical event and a virtual event. However, what’s rather interesting is that these differences are diminishing day by day. It would be more clear with these findings-

• The main difference between a physical event and a virtual event has been in terms of interactivity. These days, this is one aspect where virtual events have drastically improved. Networking zones, booths, lounges: it’s now possible to bring them all in the virtual ecosystem. Exhibitors can also change the background of the booth and share handouts/giveaways to those visiting the booths.
•  Virtual events and physical events also differ in terms of reach. As the entire world is a playfield for virtual events, Virtual events surely have an edge when it comes to the reach.
• In terms of budget, virtual events are more economical than their physical counterparts. However, more investment also means that there are bigger revenues involved.
• Amit COVID, the event industry has witnessed many disruptions and most of them helped the relevance of virtual events. For example- Event planners are now seriously considering the monetization of virtual events. This has resulted in changed perceptions of sponsors who find virtual events as a way to reach niche audiences.
• In the end, trends are about perceptions. There’s a significant share of event-goers from the young generation which looks for the best networking in the least time and minimal travel. Virtual Events tend to serve this purpose.

Types of virtual meetings/virtual events- 

Depending on your needs, virtual events can be of many types. This is the reason why virtual event platforms come up with 100+ modules to customize the setup as per your requirements. Some of the broader categories include-

A virtual Exhibition/ A virtual tradeshow –

with an organized presentation & display of product & services

A virtual Conference-

a formal gathering of individuals in an arranged setup

A virtual workshop-

for training courses and learning classes

A virtual Networking meet-up-

gathering in an informal setup

A virtual job-fair/ virtual career fair-

an online gathering of job seekers and job providers.

Virtual Event Planning 

In the present scenario when in-person networking and physical events are at standstill, the event industry is relying on virtual events. Successful virtual events demand the right virtual event planning which consists of –

Virtual Event Marketing- 

Unlike physical events, the marketing of virtual events is confined to the digital space. Thus virtual event marketing demands identification of the right audience and their targeting with the right channels.

Virtual Event Management- 

Virtual Events have a digital presence across various channels. Whether it’s the event app, event website, or the listing platforms, you need real-time and centralized management of different platforms.

Virtual event Monetization-

Although a relatively new concept, it is gaining popularity at a rapid pace. Different stakeholders of the event industry are now focusing on the monetization of virtual events. It can be done by selling sponsorship space or by paid-entries. Also, a successful event monetization strategy is spread across pre, during, and post-event.

Future of Virtual event Planning 

Experts say that virtual events will be seen at par with physical events in the future. While physical events will remain a go-to place for those looking to network, virtual events will no longer remain in a mere supporting role.

How to become a successful virtual event planner? 

It is a must for you to adapt to the new practices if you want to make an impact as a virtual event planner. Event technology has a crucial role in determining the success of your virtual event. This means that you should be on your A-game when it comes to the virtual event solution.

Here are the points you should keep in mind while choosing the right one-

• Basic features such as Live Polls, Meeting Scheduling, Recordings, Q&A, Session Forum, Handouts, Hand Raising,1-to-1 Chat, Screen Share, Backstage
• Your virtual event solution should help you with the 3 Ms-  marketing, management, and monetization of the virtual event.
• You make data-driven informed decisions, event analytics is a must.
• Different modules and customized solutions to meet up your requirements.
• The 3 Cs- Content management, contact management & communication management.
• It’s an added advantage if it offers In-built Event- website and white label event app builder

Still not sure about your virtual event solution? You can have a walkthrough of our virtual event solution FLOOR. Our event expert will help you with it. Book your demo here-