Some people assume that hybrid events are simply created by tacking a virtual component onto in-person events. However, resorting to this minimal approach would cause the virtual piece to fall flat.
Proper planning of a hybrid meeting requires approaching it as a single event on two different platforms. Many aspects of the event, such as technology, check-in and networking, are nearly doubled in planning.
For this reason, hybrid events naturally cost more than in-person or virtual events alone. That said, the benefits outweigh the additional cost.
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COMPELLING BENEFITS
More Options for Attendance
Since hybrid events give people two different ways to attend, companies that host them can potentially double their audience. Not only do they have two audiences instead of one, but those people who could not or would not attend in person can join from wherever in the world they are located.
While in-person aspects of events can be more exclusive, unique and memorable because of the destination and cultural elements, hybrid components allow more participants. The hybrid component can provide elevated experiences for those attending in-person while expanding the options for an audience(s) who can’t participate due to time, budget or other constraints.
Additionally, hybrid aspects can allow new markets or audiences to have limited access to learning tracks, networking sessions, breakout groups, etc. Hybrid events can be ideal for customer retention, stakeholders’ education, relationship building, brand awareness, product launches, etc.
Data to Assist with Decision-Making
Justifying the cost of hosting hybrid events is much easier than strictly in-person events because the digital piece provides plenty of data. All interactions are captured via the platform used for the meeting, which offers a treasure trove of data to leverage.
While in-person aspects can gather data through gamification, real-time polls, etc., this data doesn’t capture exchanges outside these apps. However, a hybrid platform can gather intelligence ranging from interactions, common themes, the sentiment of conversations, popular topics, the duration of time spent within a session, program, etc., and so much more.
All of this data can then be used in conjunction with feedback from in-person experiences and post-event analysis to assist with decision-making. This analysis can help:
- identify unknown issues or problems that need to be addressed,
- potential opportunities that can be directed to sales and marketing teams,
- gather intelligence about competitors,
- understand the connections and interconnections among attendees and how those may be leveraged further,
- measure topics, speakers, sessions, etc. that were hits – or misses,
- spot advocates, ambassadors, and evangelists to leverage their networks and insights,
- quantify attendees who are ready for more responsibility -or- who may require a mentorship, coaching, additional training, etc.
ROI of Hybrid Events Offers Measurable Proof
Hybrid events offer a tangible return on investment (ROI) that those tasked with getting budget approval for them can present to prove their case. How can ROI be measured in hybrid events?
- 80% of event planners and 85% of marketers use attendee engagement and satisfaction as a KPI for success. (1)
- 87% of marketers consider opportunities generated a success factor (2)
- 71% of event organizers indicate sales deals closed as a success factor (2)
- 78% of businesses state that hybrid event platforms prove a positive ROI (2)
CHALLENGES TO CONSIDER
While hybrid meetings are likely here to stay, they do not come without challenges. Meeting planners report the most common six challenges of hybrid events are:
- Lack of experience as the most significant barrier
- Fear of failure or risking failure
- Concern about the potential for low attendance
- Technology overwhelm and learning curve
- Stakeholder buy-in to host a hybrid event (3)
Lack of Experience
Nearly 77% of event planners have never hosted hybrid events, and over half are challenged by the logistics required. (1)
Logistics, including venue and vendor sourcing, technology needs, etc., for hybrid events is a complicated matter, so there are valid reasons for inexperienced meeting planners to fear them.
There are a variety of factors to account for including, but not limited to:
- Technology infrastructure and support
- Setting expectations for vendors, the bulk of which will rest with production
- Figuring out the best foodservice setup
- Handling registration bottlenecks – both in-person and online
- Addressing real-time technical issues for hosts, guest speakers as well as attendees
Fear of Failure
Benjamin Franklin brilliantly remarked that “failing to plan is planning to fail.” While fear of failure is a mindset, actually failing due to improper planning is not.
If there are two elements to ensure the success of hybrid events, they are as follows:
- Find an experienced meeting planner who can focus their time and attention on the hybrid event’s logistics.
- Spend your time and budget as the event/meeting host on:
- Targeting the right audience(s)
- Creating quantifiers to measure and track success as well as ROI to report to key stakeholders
- Preparing and testing compelling marketing messages to optimize registrations
- Developing, nurturing, and working with partner channels and other key networks to leverage event exposure to the desired audience
- Ensuring a high-turnout for both in-person as well as virtual attendees
- Identifying and enhancing the attendee experience
- Measuring and monitoring success quantifiers and reporting on final data as well as findings/recommendations to stakeholders
Potential for Low Attendance
The potential for low attendance is possible for any event, whether in-person, virtual or hybrid. This potential is a low-level objection that stems from a lack of understanding of how to market events to the targeted attendees.
Clearly define who you want to attend your event or meeting. (e.g. Title/Role/Position, etc.)
- Allow adequate time for marketing and promotion. A minimum of six weeks should be dedicated to this task alone. (2)
- Email is the top driver of registrations (2)
- Depending on the audience, other methods such as partner channels, social media, advertising and sales teams are various ways to enhance registrations.
- Target the people you genuinely want to attend. Don’t target non-decisionmakers or individuals that don’t fit your profile for your event attendees.
Technology Overwhelm and Learning Curve
Since hybrid events include both an in-person and virtual component, they require additional planning and setup. There are two methods of information delivery and social exchanges to plan instead of one. This further planning will demand extra time for those in charge of planning the meeting or event. It also necessitates the use of additional equipment.
A hybrid meeting can prove problematic if technical glitches cause virtual attendees to miss part of a session or the entire – or worse yet, multiple sessions. Every effort should be made to facilitate the seamless and simultaneous delivery of information to both audiences.
Technology overwhelms and the learning curve can be resolved by bringing in skilled professionals with a proven track record. They can help analyze, objectively, the hybrid platform which is best for your intended use, help find a destination and venue that complement your event, and help with planning, managing, and even day of support.
Stakeholder Buy-in
One of the more common objections is how the use of a virtual component of hybrid events affects participation. This concern comes with good reason:
No show attendance is 35% for virtual components of hybrid events, which is significantly higher than in-person events. (2)
- SOLUTION: No shows can be frustrating regardless of whether they happen in-person or in a hybrid setting. A few ways to minimize no shows attendance (and reduce rejection by stakeholders) are as follows:
- Send consistent communication and reminders via automation
- Utilize gamification for virtual attendees to not only show up but engage. For example, play to earn points that can be traded in later for incentives, etc.
- Be transparent about the cost of not showing up. It’s not just what attendees miss, but the costs incurred as a result of the no-show. When someone RSVPs to a wedding, food is ordered, and space is reserved to accommodate guests who say they are attending. While this is true of all in-person events, hybrid activities have costs associated with them as well. Often these are “per seat” fees. Attendees need to know that holding a virtual spot only for them to no show comes with a cost.
- Allow attendees to convert their participation model to something else as the date grows closer. For example: If a participant has registered for a hybrid session, but can’t attend due to a scheduling conflict, free up the “seat” by allowing that participant to sign up for “after event, play only.”
- Keeping virtual attendees engaged during sessions is difficult, according to nearly 68% of event marketers. (1)SOLUTION: In-person participants have the advantage of fewer distractions plus the ability to interact, network, and communicate efficiently. The logistics, skills, and resources necessary to keep virtual attendees engaged differ from live events. Therefore, to minimize distractions, keep virtual participants actively engaged will include tactics such as:
- Evaluating content, activities, etc. for virtual participants as well as in-person attendees
- Incorporating visual learning tools
- Creating virtual networking rooms or mixer opportunities
- Encouraging communication, discussion, etc. among attendees
- Implementing question and answer sessions
- Acknowledging engaged participants by name on camera
- Utilize breakout rooms, but only if appropriately staffed
- Allowing speakers, leaders, and others to have time to interact with virtual attendees
- Emphasizing a sense of community across the entire hybrid space – virtual and in-person
- Planning for breaks for virtual attendees and announcing them ahead of time
- Ensuring that speakers, presenters, etc. understand basics such as looking into a camera, using names of attendees, etc.
- Offering exclusives for virtual attendees such as interviews, additional resources, videos, etc.
MAKING OR BREAKING THE BUDGET
When creating a budget and planning a hybrid meeting based on that budget, it is imperative to review associated costs first and foremost. These costs include the following:
- Contingency budget for last-minute costs and emergencies
- Event management software
- Software integration solutions
- Compensation for speakers
- Event staffing fees for in-person activities
- Event staffing needs for virtual support, moderation, etc.
- Branding, marketing, and promotion for the event
Goals should be carefully weighed against all the expenses associated with the meeting. This step is critical for determining which expenditures are worthwhile and which ones are unlikely to provide enough ROI.
Yes, hybrid meetings cost a bit more than their in-person and virtual counterparts. However, with meticulous attention to detail and a focus on balancing expenses with the potential to generate desired results, the additional cost is worthwhile.
Uncertain times call for creative thinking. Contact Gavel International to be inspired with solutions that connect and engage your people.
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SOURCES:
1 https://blog.bizzabo.com/event-marketing-statistics
2 https://www.markletic.com/blog/virtual-event-statistics/
3 https://www.meetingsnet.com/event-tech-virtual-meetings/what-s-holding-hybrid-meetings-back-fear-funds-lack-experience
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