While some companies use virtual events to complement or supplement their physical shows, others may opt to drop the physical event entirely. Sometimes companies discard their physical event after a virtual event’s success; others prefer virtual events due to cost or resource limitations.
Many companies are discovering that with tighter travel budgets and a globally dispersed audience, physical events are either not practical or have been steadily losing ROI. There will always be a place for large scale in-person events or exhibitions but smaller shows with smaller budgets are having a harder time maintaining attendance figures. So while larger in-person events are not dead, there is a significant increase in the number of virtual events.
Going virtual can be a cost-effective and efficient way to get your message across to a global audience who never has to leave their office. Keep in mind, though, replacing a physical event entirely with a virtual one changes the dynamics of your audience participation, content development and marketing strategy.