Virtual events are valuable

The learning curve in 2020–22 was steep. One of the most important findings is that virtual events are not a stopgap solution, but can offer real added value.

Time is relative: the transition from purely face-to-face events to digital, hybrid, virtual events does not mean transferring everything to the digital world on a 1:1 scale. A new orientation is needed. What are the participants’ motivations? How must the offer be prepared so that it is accepted both on site and on digital devices? The value of participation arises from the joint development of ideas, from joint learning and from the resulting connections — and not from the time invested.

On the stage! A classic presence presentation puts the brand, the service, the product in the foreground. A change of perspective places the audience on the stage and integrates them. The associated user experience makes the brand, the service and the product tangible. Value proposition becomes a value experience. Watching becomes doing.

Organize finances: To date, income from events has been generated from exhibitor fees, advertising contracts, sponsorship and ticket sales. It’s time to rethink the forms of financing and take advantage of the opportunities opened up by streaming. Video-on-demand for a fee, customized sponsoring based on completely new reach or the diverse possibilities of scaling open up new avenues. Revenues rise, costs per participant fall.

Read measured values: Digital always means measured values. The breadth and depth of possible information is enormous. Not every one helps or makes sense. Read, interpret and use suitable information to optimize offers and adapt them to the needs of users.

The future of the event industry will also be decided in the digital space. Future-oriented event organizers take advantage of the opportunities and possibilities of the digital format. They adapt individually and ensure successful implementation. The learning curve remains steep.