For those seeking to reshape strategy in line with a changed economy or strengthen their primacy in the ever-developing digital world, virtual conferences provide a tantalizing alternative that foregoes face-to-face interaction in exchange for some distinct advantages.
Potential cost savings: Virtual events eliminate the need for team travel and hotel costs, and they save you from booking a snazzy venue. They might also pose less interference on staff productivity: There is no travel time, and team-member involvement can be easily ramped up or down during the day of the event as needed.
That said, virtual events certainly aren't free, and ancillary charges for additional attendees or extra features can quickly up the investment, so a full evaluation is necessary to calculate your true savings.
Broader reach: Given the absence of travel costs, there are fewer limitations on who can attend. Moreover, several virtual conferencing technologies allow the virtual environment to be translated into multiple languages so that a more global audience can be served.
Most platforms also make event content available on demand for months following the conference; as a result, scheduling conflicts or other emergencies have less of an impact on total attendance, and additional prospects can be reached over time.
Data tracking: It's much easier in the virtual world to identify who attends, how long they engage, and how and where they interact during the event—valuable information both for exhibitors and for the event host.