Can virtual events really benefit your business?

With lockdown closing or impacting many real life events, businesses have been looking for ways to take them online. Here’s how virtual events can benefit you.

Amid the ongoing Covid-19 lockdown, entrepreneurs all over the world have found a way to keep their businesses afloat, and many have begun to turn to online platforms to reach their customers.

Apart from creating online stores and using social media to promote services and products, some business owners have also been hosting virtual events nowadays, and this industry is projected to grow from $78 billion to  over $770 billion by 2030.

Having virtual events is an innovative way to run, manage, and promote your business during the pandemic, and it may even lead to bigger profits in the future. Here’s how doing virtual events can benefit your business.

It allows you to comply with safety standards

Brick and mortar stores have begun reopening in some parts of the world as some countries begin to relax their social distancing rules. However, all establishments are still highly encouraged to operate at a reduced capacity to prevent the further spread of the virus, which is why it’s now the norm to see half empty restaurants and cafes.

Operating at 30-50% capacity may work for some businesses, but others, such as those who offer corporate training and webinars, need a platform that allows them maximum attendance in order to profit.

This is why having virtual events can be a benefit during challenging times: it allows increased participation without disobeying health protocols. Not only will your business flourish, but it will also keep your attendees and customers safe during the health crisis.

It can be a part of an effective marketing strategy

If your business is in the entertainment or recreation field, creating a virtual event enables you to effectively market your business without stepping outside your home.

For instance, if you’re working in food services or if you’ve launched a new food product, you can hold online classes in cooking or baking, or teach hacks on how to use your product in everyday meals.

Meanwhile, those in the beauty and skin health industry, such as salons, dermatology clinics, and spa services, can create a short course on skincare, makeup or hair styling, or you can teach people how to care for their skin and well-being at home. 

Wider reach, less expense 

Having a virtual event allows you to save on venue rental expenses, as attendees can watch and participate from the comfort of their respective homes.

Moreover, you don’t have to worry about renting audio visual equipment, as some virtual events platforms allow you to share and show relevant content directly from your computer to your participants’ devices.

Best of all, you can have a wider reach and welcome participants from all over the world: there are no geographical limits when it comes to online events.

Meanwhile, if you’re working with a brand or a company with an international market, you can have an easier time collaborating with other entrepreneurs or speakers who are based abroad, allowing your audience to know more about the business or product from an international perspective. 

Creating virtual events enables you to run and grow your business, market it effectively, and keep you and your participants safe during trying times.

Remember to promote your online event on social media at least three weeks before the event, and use a reliable online platform to ensure a successful webinar, conference or virtual training class.

Photo by Anna Shvets