How can virtual events save money?

Hosting a virtual event has comparatively less marketing and operation costs. Simply put, companies can profit more with less capital investment. Hosting a physical event incurs many costs, such as finding and booking a venue, technical & production costs, food & beverages, marketing collateral, graphics or construction costs, shipping & logistics etc...And not forgetting all those travel costs. 

A lot of the expenses associated with a physical event are completely negated when moving to a virtual event; potentially cutting the overall cost by up to 70%.