Leaving aside key factors such as increased visibility and audience or a more measurable return on ROI, a virtual event achieves an essential objective: savings.
Think about it! You have the advantage of being able to organize much larger events at a much lower cost.
So here are just a few of the cost savings when hosting a virtual event.
One of the biggest costs of an in-person event is almost always the venue. This includes the actual rental cost and the security deposit in most cases. When you choose to host your event virtually, you don’t have to pay for a venue at all. You can host from anywhere, and people can attend from anywhere, too.
💡 MootUp Pro Tip
If you are looking to organize a series of events you may be able to negotiate a discount for using a single virtual conference platform for all events.
Staff and Catering
On top of the venue costs, you’ll have catering to keep and that includes everything from paying for refreshments (or even lunch or dinner), paying someone to clean the venue, security, equipment, and so much more. Costs can really add up. With a virtual event all that is taken care of either at the virtual platform end or by the attendees themselves since they can attend from the comfort of their own homes.
Need I say more? If you’ve organized events before you know what this entails.
Flight, accommodation, and even entertainment costs not to mention the logistics of all that. With virtual events that is less of a problem on all fronts. And that’s because virtual events, whether it be a conference, a webinar, or a virtual career fair, have the great advantage of connecting multiple people at once no matter where they are. On paper, this translates to a massive reduction in costs in the matter of traveling, trips, or rental spaces.
And this brings us to our next point.
How many speakers have you lost because your physical event just didn’t fit their schedule? And how many times have you had to settle for lower-quality speakers because of budget constraints? Be honest!
With virtual events, speakers no longer have to spend money or valuable time traveling to and from the event or buying meals. This also means that often speakers will be inclined to offer reduced rates, or even take part for free.
With a physical event, your attendees have to wait until the actual event to get a taste of what they will be experiencing.
Virtual events change that game completely because with the right venue you can give attendees pre-event access where they can interact with each other, sponsors, and your virtual venue. This allows you to set up a social media presence driven completely by word of mouth by your attendees.
💡MootUp Pro Tip
The virtual venue can also provide you with graphic materials ahead of time helping you save even more money. Choose a platform that is visually rich and interactive. This will encourage attendees to take pictures and want to share them.
Long gone are the days when sponsors had to patiently wait at the booths or fly out an army of staff to make sure they can cope with the booth traffic.
And while the sponsorship packages are perhaps not the same as what you’d offer at a physical event, the options are virtually unlimited with online events. If the virtual venue supports it, they can even add AI chatbots to handle attendees and qualify them. They can host sponsored sessions directly at their booth, have interactive objects that engage participants and so much more.
💡MootUp Pro Tip
Try and get sponsorship as much as you can, as this extends the radius of your promotion, and opens you up to new clients.
In conclusion, the digital nature of virtual events offers a whole new world of opportunity to increase your ROI.
MootUp was developed to provide advanced options for creating interactive and immersive booths that maximize sponsor and company exposure and engagement. All these capabilities across work in the widest range of devices possible including smartphones, laptops, and tablets without any installations. Let us show you around our platform, book a demo today, and have your event up and running in weeks.
For the latest platform features and XR and virtual event news please connect with us on social:
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Founded by 20-year virtual reality veteran, Danny Stefanic, MootUp is a truly immersive virtual event platform. The 3D web technology that powers the platform has evolved over the years to enable 3D environments accessible across any device from laptops, mobile phones and VR headsets.
The MootUp team is a passionate group of developers, technologists, strategists, and account managers who all believe in the power of technology to help solve business challenges and connect communities around the globe.