The Future of Events: Are Virtual Events More Than a Covid-Era Solution?

Introduction

The short answer is yes. In today’s post-COVID-19, digital-first world, the expectation for online event options has become standard. This shift prompts a reevaluation of the future format of events.

The Online Transition

Post-pandemic life has shifted significantly, with many of us now relying heavily on the virtual world to maintain continuity in daily and business activities. The pandemic accelerated the evolution of online experiences, making virtual events and webinars essential tools for businesses during that time.

As we return to a sense of normalcy, a debate has emerged: should virtual events remain a default option in a post-pandemic world? According to a recent LinkedIn survey, 72% of respondents from 200 UK and Ireland companies plan to continue holding virtual events as part of their long-term strategy, citing the ability to reach wider geographies. However, there are concerns that this shift may have diluted the essence and benefits of traditional in-person events, such as social interaction and networking.

Diving Into the Debate

Let’s examine the benefits and drawbacks of live and virtual events:

• Live Events
  Live events have clear advantages for both organizations and individuals. They foster clearer communication and provide more opportunities for personal interactions. According to a Forbes Insight Review, 85% of people surveyed said they built stronger connections during in-person meetings and events. Many argue that nothing can replace the value of a live event.However, live events can be expensive and may still face resistance due to lingering fears from the pandemic. These issues have led to the appeal of virtual events.
• Virtual Events
  Virtual events and webinars have seen rapid development. Their cost efficiency and ease of setup make them attractive options for businesses. Virtual platforms also provide valuable data on engagement and interaction, which can be used to improve future events. As digital life becomes increasingly prominent, virtual events offer a practical solution that meets the needs of both individuals and organizations.The key question remains: when an event contains valuable content and communication, does the delivery method matter?

Hybrid Events: A Balanced Approach

The debate between live and virtual events is complex. A hybrid approach, combining both formats, is gaining popularity as a way to meet diverse needs. This model provides flexibility and inclusivity, catering to a wide range of preferences.

Telefónica Tech embraces this hybrid approach, offering a blend of live and virtual events to foster inclusivity and a positive culture. To explore Telefónica Tech’s upcoming events and see this model in action, click here.

Conclusion

The evolution of events in a digital-first world presents both challenges and opportunities. While virtual events have proven their value, the hybrid model offers a balanced solution that leverages the strengths of both live and virtual formats. Organizations must consider their audience’s needs and preferences to determine the best approach for their events moving forward.