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How Do We Maximize The ROI Of Hybrid Events in 2021?

September 16, 2021

The Covid-19 pandemic has brought a drastic transformation in the event management industry. The lack of in-person interaction of people due to Covid led people to make a transition from in-person events to virtual events. The impact of Covid has proved that everyone across the globe is now getting adapted to virtual meetings and events. 

Post-vaccination of millions of people around the country has allowed business travel to gear up steadily. With utmost precautions and care, personal, corporate, and industry physical events are on the rise. 

Thus, the combination of in-person and virtual events, called hybrid events has revolutionized the event ecosystem. Hybrid events offer huge reach because of their flexibility of having offline as well as virtual alternatives to attend the event. 

The increased attendance in hybrid events consequently helps to get more sales and in turn, increased ROI.  

In this article, let’s understand how we can maximize the ROI of Hybrid Events. 

Let’s dive in. 

Plan In Advance And Create Momentum

A greater number of attendees  can dramatically increase your ROI. So to maximize the ROI, you need to maximize the number of  people who attend your hybrid event. 

This is possible if you build momentum about your event 6-8 weeks before the event. By that time, all your digital marketing campaigns should have the call to action buttons ready for clients and customers to sign up 

Growing a strong audience before the event is crucial for getting maximum event attendance.  

Integrate Tracking Systems To Collect Attendee Data

Collecting the data of attendees has become easier than ever. This one simple step can give you valuable insights and touch points to increase your hybrid meeting’s ROI. 

Look to collect the following data: 

  • Who consumed the most content? 
  • Where did maximum leads come from? (Virtual or In-person?)
  • What was the number of attendees who attended virtual and in-person? 
  • What content of the event resonated the most? 

Integrating tracking systems to collect this attendee data will help you better understand the event performance and improve the ROI of current and future hybrid conferences.

Build Valuable Content

Content is the king simply because if it offers value to your attendees, they will keep coming back for more 

So investing in making high-quality content like info-graphics, blog posts, and YouTube videos can significantly build credibility and superior brand image.

Showcasing such superior content on the company’s social media platforms helps attract more attendees to the event. The authority and trust built by valuable content act as a catalyst to convert leads into customers. 

Offer Virtual Sponsorships

Virtual sponsorships can significantly boost your ROI. If you have thousands of people attending your event, businesses will surely want to purchase sponsorship packages from you. 

But how would they be convinced to spend thousands of dollars on your sponsorship packages? 

Simple. Offer them value. The exposure of thousands of people that businesses will get through your event will be the first thing to attract them. 

On top of that, you can offer special sponsorship packages, where you give them access to the analytical attendee data that you collect. This would just be the cherry on top of the exposure cake.

This helps them target their potential leads. 

Repurpose Event Content  

All the content and video recordings of the event are also a part of the sales funnel. 

Short clips of the speaker’s keynote address can be used to post on social media platforms like Facebook and Instagram. You can also upload important sessions of the event on your website and ask for a mail address to access the video. 

This will help to attract new potential leads and eventually convert them into customers, thus maximizing ROI. 

In Summary

These were the five strategies that you can use to boost the ROI of your hybrid events:

  • Plan in advance and create momentum
  • Integrate tracking systems to collect attendee data
  • Build valuable content
  • Offer virtual sponsorships
  • Repurpose event content

It is important to know that the ROI may come to you in different formats like more sales, brand awareness created, more leads, and authority building. 

Lastly, you can keep optimizing your strategy with the insights of the event that you get, thus creating ROI positive hybrid event strategies. Take a look at your analytics data and determine what yields the highest ROI. 

Hiring a full-service company can make things easier for your virtual/hybrid event planning, preparation, and execution. At Performedia, we have the technology and seasoned teams and crews to take care of all your event’s onsite and online experience. 

Schedule a call with us today to get things started!

Image Courtesy: Adeolu Eletu, Evangeline Shaw