Why are Hybrid Event Production Companies so Popular?

Benefits of hybrid events

So why should you host a hybrid event?  Are they worth the extra set up and resources needed?  Listed below are some benefits to producing hybrid events:

 

1. Increased reach & attendance

It’s a misconception that your audience can either take part virtually or in person – there is no in between. By hosting a hybrid event, you split your total attendance.

However, the opposite is true. Hybrid events allow you to increase your reach and gain more attendees, not fewer.

A study found that nearly 98% of attendees at a hybrid event were not planning to attend live, meaning your event can reach a new audience who either is uninterested in going to your live event or unsure of the benefits.

 

Boost your attendance in future events

Help boost your attendance in future events, as it lets would-be attendees “sample” your event.

23% of event organizers who hosted a hybrid event said more attendees participated in future events, and 65% said they saw no change in live attendance.

And there will always be attendees who would love to attend, but cannot for one reason or another.

With a hybrid event, you lower the barrier to entry for both demographics – those who want to attend, but can’t, and those who are unsure if your event is worth their time.

Increase your reach immensely, as you broadcast your event to a larger audience than ever could be possible in person.

 

2. Higher engagement with your audience

Adding a virtual element to your live event opens up many more engagement opportunities.  Most noteworthy, it would be most effective at a strictly live event, both during and post-event.

Your virtual audience, is actively participating from their mobile devices or desktop computer. Resulting, in meaning they can talk, share, like, comment and much more.

Naturally, you can host polls during sessions that include both the live and online audience.

 

Q&A session with a speaker live

Or, you could have a Q&A session with a speaker live.  Second, then invite them to have a Q&A with your online audience, commonly at a studio that broadcasts your live event online.

You can even help live and virtual attendees network with each other and dedicate one area for in-person meetings.  Have a second dedicated area, for those with virtual meetings.

Keeping track of all these engagement avenues? The easiest way is to start with your attendees. What will their journey look like, whether online or offline?

By planning your event audience-first, you ensure that you weave in the necessary engagement opportunities that make the most sense to them.

 

3. More powerful sponsor opportunities

72% of corporate sponsors are interested in participating in a hybrid event, as long as they can effectively reach both audiences.

That’s because hybrid events are incredibly valuable for sponsors, for a couple reasons.

Reason one is the increased reach. More attendees at your event means a larger lead pool for them, which is the #1 reason for sponsorship.

They can communicate 1:1 with interested parties while also interacting online virtual attendees. Some demographics prefer virtual communication, which may lead to increased participation at their virtual booth.

 

The Importance of Sponsor Live Streams

Reason two is the increased opportunities for sponsorship. Instead of sponsoring strictly live collateral, they can sponsor livestreams, event apps and more.

Offers you more flexibility in your sponsorship prospectus – you can have live sponsors, virtual sponsors, or both.

A third reason is an increase in reportable metrics. 72% of sponsors are shifting their budgets, not cutting them during the COVID crisis, meaning they are looking for new opportunities. And as those budgets shift to increasingly digital areas, they require the data to justify their expenditures.

A hybrid event can report on many relevant metrics, ensuring your sponsors see that they spent their money well.

 

4. Reduced environmental impact and costs

While face-to-face meetings are still important, going hybrid is a great way to accommodate attendees who might feel guilty about their personal carbon footprint.

They can still take part in your event and enjoy it, while also doing their part to decrease carbon emissions.

Finally, this also may reduce your in-person headcount, meaning there is less need for catering or disposable accessories.

 

5. Reduced travel costs

Continuing with the same trend, hybrid events can significantly decrease travel costs across the board for everyone involved.

While with attendees saving money is obvious, hybrid events can also allow for decrease travel costs for your sponsors and crew.

Your sponsors can save on travel costs by sending fewer representatives to your event. And if you include virtual sponsorship’s as part of your prospectus, they can participate 100% online while still generating value.

When budgets are tight, hybrid events are excellent for bridging the gap between cost and results, for attendees and sponsors alike.

 

6. Feed your marketing pipeline for the year

Instead of keeping your event exclusive, you can easily repurpose and re-share digital content to keep a steady stream flowing to your intended audience.

You can share the entire live stream, or certain pieces of it, to promote your future event. Sharing your live stream also ensures constant visibility for sponsors who are a part of the stream.

Streaming your event also has the added benefit of ensuring you don’t forget to record anything. With the high focus on broadcasting, you can rest easy knowing all your content is recorded for later use!

You can also determine future marketing campaigns from your previous content. Was there a session that attracted a lot of attendees? Maybe you can expand on it.

 

7. Improved return on investment (ROI)

ROI is tricky to calculate at events because of all the moving pieces.

However, hybrid events offer increased return on investment, due mainly to the increased reach and the scalability.

Because you are getting more attendance through your hybrid events, that can translate into greater views for sponsors and more sign ups after the event.

As well, you gain lots of data to provide more accurate reporting on your performance.

Regarding scalability, the technology typically needs to be set up once, then it’s easy to replicate that process at all of your events. A virtual event platform doesn’t require crews for set-up and take-down.

Plus, there is also potential to scale down your live event while scaling up your online presence. Allowing you to reduce onsite costs, while still reaching a large audience.

 

8. Valuable data

An enormous benefit of hybrid events comes from the data and the insights it shows.

At a live event, you can do a head count and estimate how many viewers participated in a session, for example.

But with hybrid events, you know the participation numbers, plus how they engaged and when they dropped out of the session.

Gain information on your attendees’ interests through matchmaking data, and session participation, which can help you improve your future content.

And for sponsors, well, they gain essential info on booth traffic and attendee engagement, helping them prove a positive return on investment.

Because of the online nature of hybrid events, you gain a lot of track able metrics that will help you learn more about your event and improve it in the future, metrics that you simply can’t measure offline.

 

9. Greater flexibility

If you’re still on the fence about hybrid events, consider what would happen to your event if travel was disrupted again.

A global pandemic, like COVID-19. Or, it could be a natural disaster.

Without a hybrid event platform to fall back on, your event would simply not happen, and your attendees would find something else to fill the time.

Hybrid events offer valuable insurance because you now have a way to host your event in some form if attendance to your event is reduced.

Also, the infrastructure and investment into hybrid events ensures you are well-prepared for virtual events, meaning that you aren’t scrambling when external forces conspire to threaten or cancel your event.

 

Why Merestone

So instead of placing all your eggs into a live event, adding Merestone’s hybrid events production company will allow you to the mix diversifies your portfolio and ensure you will have a successful event, no matter what.

We at Merestone are here to help. With over 40 years in the live and virtual event arena, we have the talent, expertise and creative skills to make your next hybrid event a success.