With the propagation of virtual events in this pandemic, event organizers have found new ideas to host successful events. The introduction of new features empowers broader reach with reduced expenditure. Companies are able to obtain more benefits without much investment in money, time, and effort.
This is why more event managers are now shifting their interests towards virtual events.
In this article, we will discuss the 7 ways to Maximize Virtual Events ROI(Return in Investment)-
Expand your target audience
Unlike the in-person events, you are not bound to accommodate the fixed number of attendees in the auditorium. Neither the attendees have travel restrictions. You have the ability to increase your reach globally at an infinite level.
The advantages of full attendance are more registrations, more ticket sales, more business leads, more brand awareness, more followers on social media accounts. This means you have immense benefits of going virtual.
In short, to increase ROI, plan your promotion strategically.
Invest in the Right Virtual Event Platform
With the Right Virtual event platform, you can offer your attendees an outstanding and memorable experience. Not only this, it will provide you the data to measure your event ROI. Make sure your technology partner provides excellent customer support to resolve the queries of participants in a timely manner.
Choose the technology partner that supports customization and offers easy navigation tools to engage the audience. Livestreaming on social media is easy. But live streaming on the virtual event platform with different features can provide an impeccable experience to the audience.
A virtual event depends totally on the technology partner, be selective in choosing the right tech. A wrong choice can affect your ROI metrics.
With Dreamcast, you can host a virtual event successfully without any technical issues.
Curate good quality Content
Curate high-quality content like infographics, youtube videos, and blog posts to attract the audience. The more good content you post, the attendees get more confidence that your event is worth attending. In turn, your company gets more opportunities to create brand awareness. Investing in your content will ultimately draw more attendees to your event and improve your ROI metrics.
In other words, content quality reflects a better ROI. Apart from these, focus on good content to be broadcast in your virtual event to keep the audience engaged. Hire incredible speakers who are experts and have skills to engage the attendees through playing different roles like sharing their experiences, views and thoughts with logic and deliver icebreakers to avoid the boredom. Hiring a noteworthy speaker may require you to invest more but for the sake of audience satisfaction, it can be compensated in other ways.
Encourage Audience Engagement
The success of a virtual event relies on how much the audience got engaged in the event. You want participants who actively engage, not the observers who do not interact in the event.
Remember, the audience cannot engage on their own. You will have to invest in some engagement features to make the attendees interactive. You could end the session with the Q & A to allow the attendees to clear their doubts. Introduce live polls with multiple-choice questions to understand the audience better. Or offer networking opportunities that enable the participants to interact with the other attendees and speakers virtually through live chat and video/audio calls.
The more the audience is engaged, the more likely they will enjoy the sessions. The satisfied audience will come happily to join your next event and contribute to the success of an event. This ensures better ROI.
Get Virtual Sponsors for your Event
To make your event profitable, try to get more and more sponsors for your event. Unlike the limited space for sponsors in the physical event auditorium, there will be a vast space to showcase exhibitors’ booths. So, you can sell as many sponsorship packages as you can.
But the question is how to encourage the sponsors to pay you and join your event? Generate business for the sponsors to attract them to your event.
Here are some sponsorship ideas-
- Place sponsor’s logo on the home screen of a virtual event platform
- Speaker announces the sponsor’s name at the beginning and end of the session
- Play sponsor’s advertisement at the beginning of the session. For example, you might have seen YouTube ads.
- Include the sponsor’s ad or content in the email marketing
- Dynamic banners on the exhibitors’ booth where the audience can access more info about the sponsor
- Offer data analytics to the sponsors after the event that includes- number of attendees, survey results, leads converted, and social media reach.
Reutilize the Content produced for a Virtual Event
After hosting a virtual event, reuse the content recorded for the event like small workshops, speaker’s keynote, and expert’s talk. Cut the part of pre-recorded videos and post it on your Instagram story or reels. Publish the pre-recorded videos on YouTube for better reach. Post the sessions on your website. Include the AR photos clicked by the attendees in the gallery. It is a great way to draw more leads for your company. Share the Transcripts generated after the event with the attendees.
Efficient Use of Data Analytics
Efficient use of data analytics provided by virtual event platforms can help in maximizing ROI. The data analytics showcase the number of attendees, number of sessions they attended, number of topics they liked, number of booths visited, and number of documents viewed and downloaded. This report enables the event organizers to determine the attendees’ interests in a better way. And this helps you to maximize ROI and empowers the future growth of a company.
In this article, we discuss 7 ways to Maximize Virtual Events ROI. But remember, every return does not have a monetary value. You can get returns in different modes like creating brand awareness, generating more revenue, generating more leads, credibility built, and so on.
By expanding your audience base, engaging it, reducing travel costs, maintaining relationships with the existing customers, you can keep on improving your ROI metrics.
Get in touch with Dreamcast and host a virtual event that ensures you get more ROI.