Since the inception of COVID, virtual events have kept up connected in so many ways. Although virtual events aren’t exactly new, the way we used them certainly was. Many people had to quickly turn as many things virtual as possible. In-person meetings and events quickly turned into Zoom meetings. But when things began to settle down and get back to some sense of normalcy, virtual events continued to grow. And here’s why.
What are Virtual Events?
Even though we are 2 years into this pandemic that shook the entire world, some people still have no idea what virtual events are. Simply put, virtual events are online gatherings using a streaming platform or service. Virtual events provide a way for you to communicate with your audience and to be seen globally. In-person events that were once only experienced in the city where the host was can now be experienced in other markets and countries. Imagine my virtual summit being experienced in Bali and South Africa.
Why host virtual experiences?
Virtual events or experiences, as I call them, have so many benefits. You don’t have to be a tech genius to host one and they are a great way to create content for your brand. Access to a global audience, being cost-effective, and having evergreen content are all great benefits of hosting virtual experiences. Virtual experiences help you create unique experiences with your audience. You can grow your brand awareness and have access to data that can help your business grows.
Why they are popular?
The global virtual events market size was valued by Grand View Research at $77.98 billion in 2019 and is now expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2027.[i] This certainly matches the data I’ve researched and collected from my own events. Even with in-person events coming back, more people are hosting virtual events. Virtual experiences are convenient not just for the audience but for the host as well. No logistics to figure out and certainly the option to view at their leisure make virtual experiences a winner every time.
Since the COVID outbreak, in-person events had been halted. Virtual events emerged creating a way to stay safe but still be connected to your audience. Many brands have thrived with virtual events and will continue to do so. Virtual events are not only here to stay, but there will also be more of them in 2022 and beyond. Audiences and event planners have found them to be more convenient, more enjoyable, less expensive, and with more engaging content.
[i] Grand View Research, “Virtual Events Market Size, Share & Trends Analysis Report by Event Type,” July 2020.