Monday, July 4, 2022

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5 Pros And Cons Of Hosting A Virtual Event For Companies

Events are a huge deal for companies that got used to hosting extravagant year-end functions or other celebrations. These gatherings are an opportunity to give back to the most valued clients, interact with potential investors, and as a form of thanks to employees.

Lasting bonds are forged by attending the events, and businesses know how important that is for the company’s long-term goals. With more and more being done online, events are no exception. Instead of the lush venue downtown, partygoers now trade that for the comfort of their own homes.

Hosting a virtual event online has a few pros and cons, and companies should be mindful of these when planning their upcoming functions:

Pros Of Virtual Events

  • Less Cost

Venue hire could be one of the most expensive costs for physical events. This wouldn’t be a problem with virtual event settings.

Apart from cost savings, organizing teams would not need to spend much time looking for venues that can accommodate company requirements. In addition, changing the date will not be a problem in case of emergencies or unforeseen circumstances. The organizing committee will not have to deal with venue cancellation fees, which can be stressful and frustrating.

  • Less Production And Logistical Requirements

Organizing virtual corporate entertainment is so much easier for online events. There are no seating arrangements, lengthy registration processes, music, lighting, décor, or any other event booking nightmares that event planners need to deal with when putting everything together.

  • Wider Reach

Because there would be no travel involved, stakeholders and company members worldwide can join in on the fun that they previously wouldn’t be able to attend.

Inclusivity is one of the modern business trademarks, and companies are finding creative ways, like virtual events, to include everyone in their teams regardless of geographical constraints.

  • More Opportunities For Personalization

In-person events may have some people feel left out if they don’t receive the same gift as others. If they think that they deserve more, it may sour relations between this person and the company. 

  • Playback Option

Many online platforms have a recording option, so those who cannot attend the event on time would still have the opportunity to watch the festivities when they are available.

Companies share the recordings after the evening by sending them to the attendees. They can even be uploaded to the company website or saved as a remembrance of that particular day. Doing so is a great way to keep members of the organization engaged and in the loop of company news and updates.

Cons Of Virtual Events

For companies who are used to having face-to-face events, the following are said to be some of the drawbacks of hosting virtual events.

  • Less Human Interactions

People who have fewer interpersonal encounters miss out on some of the intimate nuances that come through in the other person’s body language. Making eye contact and giving handshakes and hugs are part of human nature, and not having that could make it more complex for the attendees to show and build connections with other event attendees.

  • Distractions

Social events allow people to be in the present moment and give their full attention to friends, colleagues, and acquaintances with little to no outside influence. However, being on a computer, cellphone, or tablet could have other distractions like notifications, taking attention away from the event.

That is why companies must choose the right event platform and develop highly-interactive activities that will keep attendees entertained and engaged from start to finish.

  • Time Restrictions

Some online platforms may have a time limit to their sessions and would cut events short if time management isn’t ideal. People may feel rushed to get through the whole event, and some of the personal touches and interactions are limited. Due to this, the event may seem even more impersonal by restricting speech times and other parts of the event.

  • Technical Difficulties

Technology can be fantastic until it’s not. Power outages, internet connections, and other technical difficulties may make the virtual event a less than optimal experience.

Thus, backup plans should be in place for the host to ensure that everything runs smoothly, but the same can’t always be done for the attendees, making it frustrating when technology fades on them.

  • Need for Specialized Suppliers

Companies that want to host professional-looking events would often have designers, videographers, and animators working hours to produce a world-class production. Unfortunately, graphic designers with a solid reputation that will deliver the best results do not come cheap in the digital world.

Where in-person events have venue costs, online versions may have other costs to consider for the evening to be a success.

Weighing Up The Options

Companies that opt for virtual events have lots to think about before planning. There are some good points to having it online, and with proper planning, companies can minimize the cons to make for one unforgettable event.

Both in-person and virtual events have things that would make them a great option, and they have features that could have event planners tied in a knot. The ultimate decision would be whether to have an event or not. Doing it in person or virtually would allow people to get together, which is the top reason to have the event in the first place.

Even with all the pros and cons, virtual events are part of the future, and companies should remain creative to make these digital festivities something for everyone to enjoy.

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