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Hybrid events are a combination of live and virtual events, the perfect bridge between the two. Hybrid events place an equal importance for both live and online audience, along with a seamless integration of technology to facilitate the participation between the two. We are seeing a rise in popularity for virtual and hybrid events in today’s context. Gradually, many are coming to realize that there are numerous benefits and improved ROI that comes with it.
In comparison to live events, hybrid events enable a greater reach and the potential of gaining more attendees. For instance, with live events, there will always be a group of attendees who would be interested to attend the event but unable to do so for one reason or another. Hybrid events minimize such physical barriers for this demographic as well as those who are unsure if the event is worth travelling down to. This allows you to maximize your reach immensely and the potential to perhaps attract a whole new demographic.
Hybrid events can significantly decrease travel costs for attendees, sponsors, crews, generally everyone who are involved. This bridges the gap between cost and results especially when organizers are faced with budget constraints. With several countries putting different border restrictions in place, hybrid events also make it more convenient for attendees to attend the event without having to worry about travelling restrictions.
ROI can be tricky to calculate and determine at live events because of all the moving pieces. On the contrary, hybrid events offer an increase of ROI due mainly to the increased reach and the scalability. With higher attendance through hybrid events, this translates into larger views for sponsors and more sign ups post event. Virtual events also allow you to gain more data which will in turn provide more accurate reporting to determine the performance of the event. With the combination of live and virtual events, one can has the potential to scale down your offline presence while scaling up your online presence. This helps to boost your margin by decreasing onsite costs while still reaching a large audience.
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