4 Key Reasons Why SMEs Should Pivot To Virtual Event
Virtual Events are not new now after the COVID-19 crisis. The technologies available today have moved on and put on many options for the world to connect and interact, with social distancing. Significantly, the industries are well adapting the virtual world. Part of this reshaping is the shift of virtual events which are helping maintain the conversation and foster relationships with customers.
Small and Medium Entreprises (SMEs)
SMEs are particularly important nowadays in most economies. They create employment opportunities, support businesses growth and accelerate global economic development. According to The World Bank, SMEs represent about 90% of businesses and more than 50% of employment worldwide.
One year into pandemic, there is no question that SMEs have been shattered. They are facing complex challenges and different struggles. They are more eager to look for ways to maintain their business continuity and expand their reach to new customers. While 2021 became the year of the virtual events, organizing an event online is a big uptick for SMEs to archieve these objectives. It brings benefits and works to drive business forward.
Here are four reasons why SMEs should pivot to virtual event.
- Global Access
Access to a vaccine is the biggest game changer for restarting live events, with 51% of planners noting this as the factor that would make them feel most confident in planning live physical events. — EventMB, 2020
Virtual events implement the safety measure that allow people to attend the event from the comfort of their homes via any devices. Additionally, a virtual event removes the limitations of a physical event, including travel restrictions, time constraints, and financial expenses. Ultimately, SMEs can now invite the world to the virtual event. It is a good opportunity for SMEs to reach the international audiences and boost brand exposure.
2. Networking Opportunites
- Video presentation
- Live chat
- Live call
- Live polling
- Survey
- Q&As
And many more!
Networking in virtual events is more scalable than physical events. Either it is a one-to-one interaction between speakers and attendees, or a group interaction that shared common interest, a virtual event platform with these features helps the attendees to stay connected. The SMEs can even exchange their digital business card instantly with their potential leads.
3. Cost Effective
- Venue
- Transportation
- Accommodation
- Food and beverages
- Staff
- Printings
All of the items stated above are removed in virtual events. Alternatively, SMEs may invest the cost following the event objectives. Indeed, if the event is a webinar, investing in high-demand speakers. If the event focus on networking sessions, investing in fun gamifications. Most importantly, investing in a reliable virtual even platform that provides real-like virtual experience and no technical hiccups.
4. Insightful Reports
- Attendance
- Attendees demographics
- Event traffic
- Event engagement rate
- Speaker engagement rate
Virtual events provide the opportunity to collect the data and feedback seamlessly. The reliable data helps SMEs to analyze the attendees’ behaviour and identify the areas of improvement. The quantitative data also enables SMEs to determine the follow-up communications and optimize the event strategy to increase the return of investment (ROI).
Be The Hero
Never be afraid to try something something new when we have seen so much measurable success of virtual events in the industries. A virtual event is valuable to all SMEs as it contains too much business potential. To All SMEs, let’s embrace the virtual events and be the Hero of the economy.
You know what? You can also be the Hero of the World! Virtual events reduce the carbon footprint as they generate zero waste. Everything is done online!
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