The Covid-19 pandemic has forced the events industry to rethink its business model to adapt to the changes taking place. But it has also provided an opportunity for the industry to evolve and improve in ways we never imagined.
Today, virtual events and meetings represent the only way to connect with audience. However, many questions arise regarding the impact of these events; will they endure as a convenient and cheaper way to experience international events, or will they fade away as the population becomes more eager to have renewed personal interaction?
Events are a unique marketing channel and there is no reason why the personal touch that makes them so powerful cannot go hand in hand with a more data-driven, measurable approach. This year we have seen many companies invest in virtual events. Several new products have popped up to cater this market- e.g. Calvin Klein virtual fragrances pop ups and ASICS VR shoe releases- and we think we will see the trend of virtual events, virtual conferences, virtual launches, continue to grow and become a brand-new form of brand marketing.
The potential of virtual events is unprecedented. Just think of Tomorrowland Around the World event ( example here ) , which, thanks to 3D technology and gamification tools, managed to create a unique experience attracting more than 400,000 spectators. The advantages are not only in terms of brand awareness or brand reputation, but also economic ones. Virtual events allow companies to create experiences at a relatively low cost with added value and interesting opportunities.
Virtual events are here to stay and are likely to get better and better. However, we believe that virtual events will never replace or satisfy the need for traditional gatherings, conferences and in person experiences that we were used to. The reason? Simple enough: we all need human contact!