Enhancing Virtual Events

The year 2020 has thrust the entire world into a new realm that has no limit on which industry is impacted. During this time, companies across all industries have been able to cope with the implementation of webinars. Webinars have become a standard form to offset a huge lack of physical events. As the world continues to recover, it brings attention to whether or not webinars will be here to stay?

It is very likely that webinars are a sustainable way to have events moving forward. One major challenge with this form of virtual event is that that consumers, clients, and investors are unable to interact with a brand and its products like before.

Benefits of Online and Hybrid Events

As a sales person, it may be seen as a hindrance to attend or host an event online. A big factor of this is the overall engagement and interaction that can take place between attendees. However, there are still many benefits to this new event format for brands, three key points being:
• Sustainable
• Cost effective
• Higher engagement

VR Event Showroom

A virtual reality showroom brings guests into a virtual space and allows them to virtually walk through as if they were actually there. They can interact with products, learn more about their features, and engage in other activities that enable them to learn more about the brand story.

The design of the virtual space can be much like an exhibition stand, factory space, or retail space depending on the needs of the brand. After the guest has had time to interact with the virtual space, they will then be connected to an online live stream or video platform that allows the guest to partake in a webinar or one-to-one meeting format.
The design process is similar to that of a physical retail space, but instead of constructing it, it is built into a virtual program. Programing options can customize to best suit the needs of the brand. Interactive elements can also vary.

Sustainable Difference

Traditional events meant people far and wide would need to travel across time zones in order to attend and connect with each other. It also meant that brands would need to build up a physical space in order for guests to come and attend.
While the experience of doing so is quite pleasurable, it’s hard to ignore the fact that doing so creates much waste from a sustainably green point of view.
The use of VR in order to execute events helps to cut back on the non-sustainable impact of traditional events.

Cost Savings

The creation of a virtual space provides flexibility for brands to be able to adapt the design and features of the space as the needs of the brand change overtime. The cost of making adjustments to a virtual space are significantly lower than a complete recreation and buildup of a physical event space. In addition to this, brands have the ability to adapt the features of the space depending on their specific needs for each event or even for use between different markets.
For example, the key features of a product might be of different importance between consumers in China and Singapore. The adaptation of the virtual space would allow a brand to adjust the positioning prior to each event taking place for the different consumer segments in these markets.
Higher Engagement
Will VR space truly create an overall higher engagement level for participants? The truth behind this is quite subjective to the actual target attendees and their typical behaviors. However, it is easy to see the shift of behavior for Chinese consumers since the beginning of the pandemic. According to a study by McKinsey, 85% of consumers still prefer to have some sort of physical reaction with a brand.

Virtual reality provides a different type of interaction with a brand, but still creates engagement through the use of a VR system. The point is that the impact of the experience itself is far greater than just a webinar.

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