While the concept of using virtual events as a marketing tactic is still in its infancy, it will soon emerge as the ideal solution for businesses.
To survive and thrive in the marketplace, companies have gone through significant changes amid pandemic uncertainties. In such a scenario, “digital” turned out to be the central solution for your marketing strategies. Virtual events, for example, which have gained in importance due to the outbreak of the coronavirus, are now used by companies across all industries and have successfully replaced traditional on-site events.
With COVID-19 rife with the ongoing second wave and the likelihood of the third wave arriving soon is very likely, brands have recognized that innovation is key to keeping their businesses running and gaining a competitive advantage in the marketplace. As a result, companies are introducing changes in their operational and marketing strategies, and virtual events are likely to become a common practice and go-to marketing strategy for brands.
Brands that use new technologies and virtual events
Companies are being urged to develop a long-term game plan specifically from a marketing and communications perspective to take into account the various coronavirus-related consequences. They have now resorted to the online space to increase their brand visibility, improve their brand image and sell their offerings. To ensure this, the introduction of cutting edge technology and virtual events have proven to be ideal solutions for brands to achieve their marketing goals. They play the perfect role as a replacement for on-site events and have enabled brands to achieve their marketing goals in a tech-savvy, cost-effective, and time-saving way.
Event software, online event registration platforms, virtual event aggregators, use of cloud-based and real-time communication tools, integration of gamification, exchange of virtual business cards, introduction of virtual live streaming tools, solutions that enable social media integration Integrate You social media feeds into your virtual event through live streaming or AI-enabled tools that help with real-time translation and interpretation of voice content, eliminating the need for a human translator, attendee face recognition and event chatbots for customer service Gone are some of the new age technologies that event organizers have used to get one step closer to their marketing goals and make their virtual events a huge hit!
Improved ROI and increased sales
Technology has helped and enabled companies to organize multi-format events such as round tables, conferences, product launches, seminars, exhibitions, etc. on virtual platforms. Virtual events with the power of new age solutions provide the sales team with other significant benefits.
They surpass traditional networking events and methodologies. Instead, they provide data on attendees’ preferences, including sessions attended, accompanying materials downloaded, time spent at a particular kiosk, their involvement in the event, etc. through market intelligence and event analysis. This also enables them to plan, act and modify the virtual events in real time and in the future according to the interests of the target group.
This tailor-made sales pitch with a specific goal and a customer-oriented approach via virtual events leads to more conversions and delivers a better return on investment. According to a recent report from Markletic 2021 that saw 3,851 B2B marketing companies participate, 39% of marketers said their sales team generated significant numbers of registrations and brand awareness at the online event.
Instant networking, brand awareness and positioning
Online events have helped companies communicate effectively and directly with their target audience by making the most of the digital medium’s potential. They ensure fast, instant, interactive, and engaging networking so brands are getting more attention than ever. This was a major mistake of the physical events!
Digital events are also a safe way for brands to present and advertise their offers in an innovative and immersive way to the huge audience in virtual space. They provide the perfect platform for brands to step into the spotlight – to increase their awareness and increase their visibility with the huge customer base.
If the conception and implementation are successful, virtual events If the conception and implementation are successful; virtual events can make a dramatic contribution to brand growth and image building. According to a study by AnyRoad that surveyed over 100 companies that manage 20.00 virtual events annually on a global scale, a similar trend is highlighted and found that most of the respondents 85.3% of respondents say that the online -Experience in the event industry will persist even after the pandemic subsides and will grow significantly.
Virtual Events: The Future of the Event Industry & Brand Marketing Strategies
The Markletic 2021 study shows that most companies spend 10-20% of their marketing budget on virtual events. This trend is picking up speed because brands have recognized that online events help them achieve their marketing goals more efficiently and quickly. It is also said that 90% of companies plan to invest heavily in virtual events in the future. All of these statistics give a broader picture of how online events will be the trendsetters for businesses from a marketing perspective in the times ahead, and brands will soon be jumping on the bandwagon to seize this opportunity amid the changing scenario.
The coronavirus pandemic has turned the events industry as a whole on its head, and online events have become a suitable and fruitful alternative to on-site events for brands to expand the reach of their marketing goals. Due to the abundance of advantages of digital events, they will continue to determine the marketing strategies of the event industry and the brand in times after the pandemic. While the concept of using virtual events as a marketing tactic is still in its infancy, they will soon be the ideal solution for companies to step up their marketing game to ensure that their image in the market, communication with their customers is constant and their sales volume reaches an all time high!