How much does a virtual conference cost? Is a virtual event cost effective?
Virtual conferences tend to cost a much less than live events as going virtual avoids many of the costs associated with traditional conferences. Venue hire fees alone can cost thousands, without taking into account food and staff. So what are the benefits of a virtual event? Are virtual events cost effective?
1. Lead generation - Measure your results
Data that the virtual events produce is far more reliable and easily tracked as everything is done online. For example, you know what time your attendees logged on to where they went, who they connected with and so much more. This information will then help you going forward should you want to target your attendees after the event. This information can easily be placed into a CRM enabling you to understand your audience better and market around them, helping you grow your business effectively. You can also easily ask them for feedback which is a lot more difficult during a live event
2. Saves Time
Because your event is virtual, you’ll save yourself, your staff and your attendees so much more time. Virtual events require some setup time for registration, marketing, websites, promotion etc, but it’s considerably less than the time spent in a live event. Your employees can use that time that they would have spent hosting or attending the event to continue to drive sales and focus on what’s important whilst it is running.
3. Cheaper than Live Events
As mentioned before, live events can be extremely expensive from branding to staff, to hire equipment, venue costs, setup and breakdown and everything in between. Taking your event virtual means that you pay for considerably less of these things meaning that your event costs are more than halved, reduced to 75% less expensive to be exact. The only real cost worth thinking about is the cost of the virtual platform.
4. Go global
Every business is always trying to find ways to grow their event and maximise their audience to reach more people, but with this comes larger costs and a lot more work. With virtual events you can take your event anywhere and can easily promote it through using your website, social media channels and email marketing tools that can help you expand your reach. People from all across the globe can join in an easily accessible way, without having to think of travel and days away. Through using a virtual event, you can grow your audience for a far lesser cost, and have everyone participate.
5. Bespoke and Tailored to your needs
Every virtual event is bespoke and built to every individual client’s needs. This means it can cost as much or as little as you’d like. The general starting price for these events is £14k and incorporates your business branding, live sessions, exhibit booths, a virtual venue of your choice, networking, event management and customer support. Whether you’re hosting a thought leadership conference, an exhibition or sales kick off, your event can be interactive, multilingual and include a range of speakers and activities tailored to your event requirements.
So how much does a virtual conference cost and is it cost effective?
The interest and need for virtual events has most definitely increased since the coronavirus pandemic, however these benefits can be applied into the world thereafter. Virtual events are very cost effective when compared to live events, and are equally as powerful. Discover a new way to expand your business and reach your audience with virtual events.
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