Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Forget virtual and hybrid – in the future, events will be sold as a single blended experience

Published : , on

By Christopher Bo Shields, Chief Creative Officer and Co-founder, Totem

As we look to 2021 and beyond, we need to rethink our concept of events and the categorisation of events into real life, virtual, and hybrid which have emerged so clearly over the last turbulent year.

It is my opinion that such terms will soon become meaningless and terribly old-fashioned.

In the future, people will no longer consider the platform they are using to experience an event as an important factor in the value they take from that event. Think about how the majority of people experience Glastonbury every year via their TV sets. These people still think of themselves as having “watched Glastonbury”; they still feel like they are properly participating in the experience, albeit with a lot less mud on their shoes!

Terms such as real life, hybrid and virtual devalue the events experience. Instead, events organisers will talk about the blend of experience that they will be sharing with their delegates, and selling it as a single proposition.

We must learn the lessons of other industries such as retail – ultimately, the rise of the digital native cannot be ignored. Just because we will all (hopefully) be vaccinated in 2021, it would be a huge mistake for the events industry to turn its backs on the progress that has been made and stop investing in platforms that blend online and offline experience. Because, regardless of Covid or anything else, the move towards digital is inevitable.

The winners in the events space are those that will take on this point of view, and they are the ones who will also nail the four keys to achieving events leadership in 2021 and beyond: data; interactivity; monetisation; and scalability.

  1. Data

Remember, clients have experienced a wealth of great data from their events since they went online over the last year. This sudden change has been one of the surprise results of Covid, so the threat of whipping that added level of data away from them now that we’re going back to physical events will not be welcome.

Christopher Bo Shields

Christopher Bo Shields

So the challenge for event organisers is to ensure that the shift back to real life does not impair the improvements in data collection that we’ve experienced. We need to be equally adept at gaining data from attendees taking part in the offline ‘real-life’ side of the event, as that which is gained from the online delegates. For instance, by using the platform as the app for the physical event, and ensuring that attendees use it for activities such as polling.

  1. Interactivity 

The problem with many events platform is the lack of interactivity. If you think about the best experiences that you’ve had at real-life events, you will probably think mostly of the people you met, the relationships created and the deals made. Events platforms need to be geared up for interactivity, with features such as interactive exhibition stands that allow for one-to-one meetings, supported by curated content. Think about live polling, Q&As, exclusive downloads and live video content across multiple tracks. Real time metrics and data should also provide immediate ROI for sponsors and exhibitors.

In this way, events in 2021 should resurrect the much-missed creative hustle and bustle and spontaneity of real-life events networking. People need to feel like active participants and not merely voyeurs and we need to inject the personal and professional, which creates richer engagement.

  1. Monetisation

In 2020 it was difficult to find ways to show sponsors the value of their involvement in events. Organisers need to have a flexible range of sponsorship opportunities of anything from meeting rooms and roundtables to exhibition stands and virtual delegate bags. There are still a lot of advertising opportunities at events that have an online element. Sponsors can get involved with mailers, social media, banners on attendee’s screens, push notifications, video ads or even on your registration platform.

The platform is where it is at – the starting point of all of your potential. The platform should allow you to create a virtual exhibition hall, in which you ‘sell’ spaces just like at live events. Here, attendees can view product/service showreels, brochures, chat with salespeople, book one-to-one meetings and demos. Bigger sponsors can occupy more space on the page, just as they would have the largest physical booths, with smaller sponsors taking up less.

  1. Scalability

The other key imperative for any events organiser looking to hold valuable events is the question of scalability. You need to have scalability built into any platform that you use, so that you can host events of any size – from a roundtable of ten to a multi-track event for 10,000 people. With this kind of flexibility built in, organisations can launch a wide range of events while collecting data from every event and storing it in a single place. This will help you build broader insights from data to identify which of your events are making the biggest impact.

In this way, organisers can track what is working and do more of it. If your attendees like roundtables, give them more roundtables; if they like virtual goodie bags, give them more virtual goodie bags. With this kind of holistic view over all of your events, you can quickly build a permanent strategy and scale up your operations.

Conclusion

When the events industry finally nails these four issues in 2021, then I predict a more positive attitude towards the blend of online and offline will follow, regardless of what else happens in the wider world.

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post