• Travels and tourism -> Business Travel and Corporate Events

• 0 Comment

What is the future of virtual events, and how will they impact traditional in-person corporate events in the long term?

Gavin Leydon

As a social media user, I’m positively excited about the future of virtual events. Lately, the world has been shaken up by the pandemic, and it’s clear that the events industry wasn’t spared. However, I believe that this situation has led us to a new frontier in terms of virtual gatherings. Without a doubt, virtual events are unique in their own way and have come to offer an alternative that is here to stay.

Traditionally, corporate events have been about putting on a show of glitz, glamour, and sophistication. From posh venues to expensive caterers, in-person events have been subject to hefty budgets that were often indicative of status, wealth, and the company's financial prowess. But, with many of us now working remotely and practicing social distancing, virtual events have proven to be a valuable shift in how we connect with each other. And guess what? They might be the ‘new normal’ even after the pandemic!

One of the key features of virtual events is that they offer a flexible and cost-effective option; they don't rely on physical spaces and can be accessed from anywhere in the world. This means that businesses can tap into a global audience without having to pay for travel, accommodation, or venue costs. Virtual events, such as webinars, online conferences, and virtual trade shows, have grown in popularity, and with their accessibility, we can expect them to have a significant impact on in-person corporate events.

Another exciting feature of virtual events is their high level of interactivity. Virtual events have surpassed in-person events in terms of offering a personalized, engaging experience. Audience participation is more profound through live chat, Q&A sessions, and digital networking. Attendees don’t have to worry about being late, missing out, or standing in long lines. The convenience of virtual events will inevitably impact traditional in-person corporate events in the long term, posing a significant challenge to physical events’ experience.

If we had to live in an all-virtual event world, some might miss the human connection that physical events offer. The events industry has thrived because it provides an arena that fosters critical engagement and in-person networking. Personal interactions help to connect people and build long-lasting relationships that could lead to business opportunities. But, even though virtual events can’t fully replicate the feeling of in-person engagement, we cannot ignore that they are close to doing so and are here to stay.

To sum it up, virtual events have come to disrupt the traditional in-person corporate events sector by increasing accessibility, being cost-effective, and offering a personalized experience. Virtual events offer a glimpse into the future, and they are continuously evolving, meaning businesses should be ready to adapt their events strategy to the new normal. It’s an exciting time for the events industry, and we should all get ready to embrace what’s to come!