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Was your live event cancelled in 2020? Was it postponed to 2021? Or did you dare to experiment with virtual events in 2020?
2020 saw organizations adapting to the new normal — an unprecedented way of life. The onset of COVID-19 catapulted us out of our comfort zone and pushed us to explore newer technology. Certainly, this technology has proven to be a catalyst in helping us adapt to this new normal.
There are increasingly strict regulations regarding social distancing, masks, and sanitization for group gatherings. Added to that there is apprehension among people toward attending events with large crowds. Live events — although still possible — seem like a much more laborious task than before. A survey in May 2020 found that 66% of people won’t attend an in-person event without a COVID-19 vaccine in place. In this scenario, virtual events have garnered greater consideration among organizations.
As we head into 2021, it is safe to assume that virtual events are here to stay. Either organizations will adapt and embrace virtual events, or they will take on a hybrid approach. In any case, virtual events cannot be overlooked.
Event marketers plan to incorporate virtual events into their strategy in and after 2020. But are you still debating whether to make the shift from live events to virtual? Read on to know why your organization’s marketing team must keep virtual events on their budget.
2020 has forever changed the events landscape. As the world comes to terms with COVID-19, organizations continue to struggle with reduced budgets for their events. Approximately 57% of event professionals are of the opinion that budgets will take a significant hit in 2021.
In such unpredictable times, where budgets are already being cut back, virtual events allow for a more cost-effective solution to organizations who want to host career fairs, trade shows, product launches, and more.
To evolve with these changing times, event planners are already moving to virtual venues. Virtual events allow you to adjust to the new reduced budget, as added event venue costs, travel fares, and visa costs will be eliminated. On the other hand, decor, equipment, and overhead costs will be the last of your concerns when hosting a virtual event.
With the pandemic at large, it is becoming increasingly difficult to engage and network with people from across the globe. In pre-pandemic times, inviting speakers and participants from different countries was not given a second thought.
But with the existing dynamics, the former “global village,” where distances were seemingly reducing, have once again increased with additional barriers in place — with an array of checks and balances.
Virtual events allow flexibility. Participants, speakers, and organizers can be in any part of the world. This means there is increased attendance, greater reach, and a global audience at your disposal. More importantly, your virtual event is accessible to anyone on any device, be it desktop, tablet, or mobile. So the audience can be on the go, or at home, they are just a click away from participating.
One thing that unites all marketers in their quest to measure success is numbers and data. A data-driven approach to all marketing efforts is critical to success, and online events make data collection effortless.
Insightful statistics such as total registrations, unique logins, total number of booth visits, downloaded documents, videos viewed, webinar attendance, chat volume, and many more are easily accessed. This real-time data can be crucial to the success of your current and future virtual event.
You have the power to monitor your visitors’ preferences who have viewed a particular video or have downloaded a resource. Similarly, getting feedback from the participants is also easy with virtual events. Additionally, understanding ROI and post-event analysis is simplified with online events, as there is no back-breaking number crunching required.
Being able to completely customize their booth is of great significance for the exhibitors. Standard booths with zero branding at live events can make the entire experience dull and boring for its participants. Many exhibitors may be averse to customization and branding of booths in a live physical event because of the added cost. However, creating and managing booths online for a virtual event gives the exhibitor complete power to add elements that reflect the brand’s personality, without any extra expenditure. Thus making the online booth attractive and appealing for the participants.
Innumerable organizations who have hosted online events can stand testament to these critical features. For example, during the pandemic vFairs helped Voxburner set up their online event. For the very first time, Voxburner ventured into virtual events, delivering a successful event. Experimenting with virtual events allowed them to completely customize their platform, track valuable data and provide exceptional customer service. Moreover, it also allowed them to offer a platform where industry professionals could network among themselves.
An increasing number of organizations are keeping an open mind about adding virtual events to their strategy. They allow you to stay within budget and eliminate the extra hassle of setting up live events. Furthermore, they add value to an organization by providing insightful real-time data, and even make post-event analysis effortless, all while reaching a global audience.
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