Forbes isn’t the only one releasing articles that explain how hybrid corporate events are the future. Many brands recognise that hybrid corporate events are the perfect way to expand the reach of the event to the rest of the globe. It’s a concept born during the pandemic and is one Forbes thinks is here to stay. As the Harvard Business Review states – hybrid events combine the riches of in-person events with the convenience of a virtual event.
Interestingly, 50% of people that attended hybrid events think they’re the ideal format for the future. The birth of such an event model has led 58% of brands to plan on hosting a mix of in-person and virtual events. Let’s explore why it’s such a popular events model and its limitations.
How Do Hybrid Corporate Events Work
By definition, hybrid events are tradeshows, conferences, seminars or other similar events that combine in-person engagement with a virtual online component. For example, there might be a corporate recruitment drive event that combines in-person career-building experiences with a virtual seminar by professionals for people who couldn’t attend in the flesh. With the right streaming provider, virtual attendees can have a similar experience to people attending in person.
Technically speaking, hybrid events attract two chances of connecting with consumers, potential employees, and stakeholders rather than discounting a potentially substantial portion of people who couldn’t attend in person. There’s also more chance of engagement, more powerful sponsorship opportunities, and even reduced environmental impact.
When They Don’t Work So Well
Sometimes, hybrid events aren’t the best option. One example is employee teambuilding days. There are tons of statistics that prove why in-person employee teambuilding days are triumphant. Feelings of isolation associated with virtual working reduce productivity by up to 21%, and socialising between employees improves communication patterns by 50%.
With those statistics in mind, it’s easy to conclude that in-person team building events are better. They’re an excellent tool for improving employee morale, strengthening relations, and improving collaboration and communication throughout the company. Plus, they’re fun and a great way to break the cycle of typical corporate life. It’s easy to find event staff that can handle catering and the general management of activities to ensure it’s the most interactive and engaging day possible.
The Limitations Of Hybrid Events
Technology is a great enabler, but it can also be a hindrance. Thus, our first limitation is finding the right software to support hybrid events and ensuring it actually works. Sometimes, seminar software, for example, might only allow a set number of people to attend. Failing to realise this before the day will cause friction between you and the people wanting to attend but can’t because the seminar is full.
There’s also the increased complexity to manage. There are essentially two events to control in one. Events management companies specialising in hybrid events can make this easier, but it’s not always guaranteed to be smooth sailing. There is always a risk when integrating different software and platforms with in-person events.
The Harvard Business Review also states that a limitation of hybrid events is bespoke experiences. It’s tricky to tailor to the individual needs, roles, and interests of those attending virtually. Audience engagement is vital – always consider whether event platforms are scaled to the event and enable event managers to create and share interactive and more consumable content.
Why Forbes Thinks They’re The Future
Forbes believes that hybrid corporate events are the future because they support and enable brands to reach more people through one event. They recognise that people still want the emotional connection achieved through in-person events but that some individuals may still be unwilling or unable to attend mass events. Hybrid is the perfect solution when it works well. It’s still essential to consider the limitations of a hybrid corporate event and how to overcome that.
Still, now there is so much attention around hybrid events, new software and platforms will soon come to fruition that addresses some of the current limitations.
Do you think hybrid corporate events are the future? They’re certainly showing the business world that focusing solely on in-person events might not be the best option for attendance, engagement, and, in turn, business growth. With the correct execution, hybrid events can be far more beneficial for a business than either totally virtual or in-person events.
