How to recover your business´ economy? Hybrid events and technological solutions

With companies looking for the most reliable and effective option for economic growth, "hybrid events" quickly positioned themselves in the business world and today they have become the absolute ally of profitability. But what are hybrid events? How are they contributing to the recovery of the economy? How much longer can we take advantage of them?

Whether you want to believe it or not...

The large global payment platforms, such as VISA, Mastercard, and American Express, are witnessing that even if some companies suffered due to the pandemic, others managed to grow without limits. And this is only due to one criterion: those who are willing to accept technology as a definitive part of the company and those who are reluctant to do so.

What are hybrid events?

As we mentioned before in the publication “Hybrid Events, the new trend of events after COVID-19”, these types of events are the combination of several technological tools that combine the best of a face-to-face event with simultaneous online interaction. This allows face-to-face or virtual attendees to interact in a more personal way with applications, different types of content (surveys, questions, games, raffles...) as well as gadgets for remote participation. In this way, it is possible to generate new experiences and bring your brand to a massive audience thanks to streaming.

What has been the real benefit of hybrid events?

Within a very short time, we have become accustomed to attending concerts through social networks, having work meetings through applications, and living part of our lives on the internet. This growing trend had already been developing years ago, but somehow we resisted it. Now, due to the pandemic and all the restrictions that affected the economies of all the countries, we had to look out for solutions. We made use of this hybrid technology and thanks to it we not only continued with all the scheduled agendas in full confinement, but we also managed to make companies grow unprecedentedly.

Hybrid events in numbers

According to the International Monetary Fund, more than 62% of the global economic activity was affected by the COVID- confinement. And although 100% of the scheduled presential events were canceled, some could still be executed online thanks to technology and hybrid events. This model, however, not only demonstrated its efficiency but also unfolded a whole series of possibilities for remote participation and effectiveness far superior to face-to-face events.

Why are hybrid events more effective?

In today's world, user experience determines whether a product or service is good or not. We are now knowing for sure that the user experience in real life takes more time than previously expected. It turns out that, with the presence of a direct interlocutor, the responses of the participants are almost always mediated by courtesy and “good manners”. Verifying whether or not this information is true takes much more time at face-to-face events. Thanks to hybrid virtual events, not only the quality of the experience is rising, but also the trust of privacy, which makes it much easier to evaluate responses during the experience, and above all, you will receive all this information in real time.

Virtual capital

It is no secret to anyone that data is currently the capital on which all companies bet, because it is the direct and easiest way to know how your products or services have been received. Hereby feedback is the central piece. It will allow you to see what your customer sees, and therefore help you to improve and build a deeper loyalty with them. Hybrid events allow you to have direct interactions with remote participants, with immediate and faithful feedback.

An unexpected return

Before the mass realization of hybrid events, the business sector considered that virtual inclusion would generate extra costs, which is why many were reluctant to invest. However, hybrid events have a lot of potential and low investment costs (since virtual spaces are easily available no matter the number of people joining). This is a clear advantage and shows that we do not have to invest in a face-to-face event. Simultaneous access for all countries without distinction of time zones, as well as the possibility to record the memories and thus give the participant the possibility to decide on the time and space, are very important points that allow us a much higher ROI.

How much longer will it last?

The current way of executing events was not developed to save money during the pandemic, but to serve the needs of this particular time. Thanks to this we created the greatest technological development of our times. Hybrid events are definitely here to stay. We at  The Yellow B are here to help you. Contact one of our advisors and start creating your next event. It is going to be incredible!