How can we make the most of this new channel as it matures and embeds itself in the marketing mix?
Over the course of the last two editions of EI's Barometer, client confidence in virtual events was low. With the pressure to engage quickly with virtual, both marketers and media providers struggled at first. In the publishing and events world those that had existing capabilities in digital with established audiences were more adept to capitalise and provide event solutions, whilst others took much longer to pin down a virtual events strategy. Digital skills sets, tech issues and a lack of attendee engagement amongst others all caused teething problems. Marketers moving to proprietary virtual event formats also struggled with taking on new roles as virtual event organisers for the business often running a higher number of events than ever before. However, as the year has progressed, education, trial and error, and shared learnings have gradually increased confidence in the digital events platform, with many ready to embed it as a new essential part of the marketing mix in the future. 78% of EI's clients believe that the quality of virtual events attended or sponsored has increased since March 2020, providing a new era of opportunity for Go-to-Market Strategy.
"Better understanding of the format - virtual events should not try and replicate the look and feel of in-person events - they should be treated as a channel in their own right with their own key features."
"I think people are appreciating you can't take the format and agendas of in-person and just flip to virtual. Needs a total mindset shift and re-building, not just pivoting."
"Peer to peer intimate roundtables seem to be really effective."
"Delegates and speakers more comfortable with a virtual event - much easier to get buy-in to the format and delivery of this type of event."
"Delegate targeting is better - mass targeting doesn't work; you get great numbers but not the audience you want or need. clever audience targeting is key."
"Better technology, improved content delivery, better agendas, more attendees."
"We have become more agile and efficient in delivering virtual events, seen increased audiences and developed faster custom video production and delivery."
"We would like to see sponsors work closer in promoting their role at an event with a fully formed content sharing campaign before, during and after an event."
"Engage with the audience pre and post event. Engage with the drop-outs immediately"
"The virtual booth - make the most of this with unique offers, content and a mix of pre-recorded video and live content (more speaking sessions) to draw attention. You also need your BDR and marketers to utilise any chat functions and offer guidance or practical examples."
"Sponsors who commit to this effort by giving us target lists get more out of the virtual event. Also Sponsors that really engage with the platform - fill out profiles in advance, understand how the platform works in advance - get a greater benefit than those that turn up on the day and expect the world to fall in their lap."
Covid has forced Business Decision Makers into the virtual environment and as a result our understanding of virtual events has improved over the course of the year, and allowed us to gather information about their roles in improved audience engagement. By understanding them as their own beast, media suppliers and marketers alike are starting to look at them differently. When the lens changes, success is within our grasp. What have we learnt so far about digital events in action?
Large scale events are a broadcasting channel - leveraging trusted established media providers with editorial expertise and digital content capabilities offers access to global audiences in a boundary-less setting.
Allow your objectives to guide the type of event format you engage in - large scale events for brand awareness/thought leadership/speaker elevation/powerful reusable digital content; smaller events for audience engagement and lead nurture.
From a commercial POV bespoke roundtables are working well for audience engagement in an intimate setting that fosters dialogue.
Events within events is a killer concept in the F2F World (capturing targets on-site) but don't carry the same weight in the virtual world.
Virtual booths no longer to be viewed as exhibition booths; but rather as content booths with the power to engage audiences further with elevated content.
Credible, authentic third party media providers should be leveraged for access to their audiences who have been curated from years of engagement within the industries they serve.
Education around leveraging tech platforms is essential for both sponsors and audiences. The onus is on everyone to encourage use of the tech platform in the right way - We are in it together!
Our Barometer shows that audience engagement and retention is a major challenge for both marketers and media providers. Analysis from our survey also highlights the effort that is being exercised to enhance this. What proves to be working in everyone's favour is an integrated digital approach around events which serves to engage audiences with compelling digital formats of content, pre, during and perhaps most importantly post event. This long tail engagement cements audience interaction beyond the event itself, also providing a springboard to community building.
