Have you noticed how virtual elements have become essential for events?
The growth of online interactions was striking in 2020 and only tends to increase.
That same year, a survey by Marketing Charts found that more than 50% of event organizers already predicted a future where every in-person event would have a virtual component. Those are hybrid events.
As we embrace this new era, many challenges appear on the horizon, including how to make hybrid events more profitable.
After all, if we have technology on our side, how can we make the most of it? That’s what I’ll answer in this article!
Learn more about:
- What is a hybrid event?
- Data: the gold of hybrid events;
- How to make hybrid events more profitable?;
- Organize successful hybrid events.
What is a hybrid event?
If you’re organizing a hybrid event, you probably already know it’s a mix of an in-person event and an online event.
But obviously, this combination doesn’t happen just any way.
In practice, there are two things that are essential for it to work:
- Two distinct schedules to meet the specific demands of both types of audiences: in-person and online;
- At least a few shared experience elements, so each side connects and feels present at the event.
With all of that in place, it’s time to look at what can make your hybrid event more profitable: data.
Data: the gold of hybrid events
Everyone knows that online events generate valuable data for events.
Usually, they offer important guidance for deciding, for example, which social media platforms to focus on, what your audience’s profile is, how satisfied they are with the event, and much more.
This information is the basis for your development and success.
However, remember that all actions taken with this data must be transparent and comply with Brazil’s General Data Protection Law (LGPD) or the equivalent data protection regulations in your region.
It’s no different for a hybrid event! Try looking at the same data, set goals, and get to know your audience well.
This way, you’ll know which strategy to follow and can offer a few options:
How to make hybrid events more profitable?
1. Offer several types of tickets and different experiences
First, the data generated from the digital experience will open up many opportunities for your event.
So by combining all of that with the in-person experience, you’ll attract many more attendees.
After all, in-person meetings still deliver unforgettable experiences — that’s why you can offer differentiated elements in this type of ticket.
That’s right: it’s already possible to start delivering value even before the attendee arrives at the event.
So a good idea is to offer different types of tickets.
In other words, don’t just differentiate between virtual and in-person tickets — go further!
For example, you can offer specific tickets for in-person events with access to VIP areas, mentoring sessions with experts, networking rooms, and much more.
This way, if it makes sense for your event, it can have different experience levels in-person and online.
But remember to deliver value at every stage and offer basic packages for those who just want to watch the event.
It’s also important to offer ticket purchases on an events platform that allows you to split them into categories, as happens on Even3.
2. Convince sponsors with data
Similar to the different ticket types, hybrid event sponsors have packages with even more diverse possibilities.
They can promote their brand in both formats of the event, or in just one.
This creates opportunities like virtual booths, openings, brand activations, giveaways, and more. It all depends on what your data shows!
So make sure to demonstrate your event’s value in your sponsorship proposal.
You can cite information such as:
- How many attendees see a digital ad;
- Data from past events, for example, how many attendees signed up to learn more about a sponsor;
- Which minutes have the most views in a piece of online content, among others.
Remember that creativity will be the key to landing sponsors. So let the data inspire you!
3. Sell content after the event
Content subscriptions, also known as “on-demand” content, are among the most common strategies for increasing the profitability of online events.
So you should also use it for hybrid events.
In other words, any event can become content to be launched as a product later, such as:
- Weekly podcasts;
- Important talks;
- Transcripts of talks turned into an e-book;
- Courses.
This way, your attendees will benefit from being able to access the content anytime, without even leaving home.
At the same time, new buyers will become leads for your brand and may become future attendees. I’ll show you how to do that!
4. Explore your new leads
Finally, the greatest richness of data in events is the ability to capture leads and turn them into attendees and promoters.
Leads are people who shared their data through a form in order to access some piece of content, like “on-demand” content. They aren’t necessarily loyal customers yet.
So it’s up to you to show them why they should sign up for the events you organize, or buy your products.
This will be done through your marketing actions, such as direct communication via email marketing or social media ads.
In this case, hybrid event data is our ally in telling us how to communicate more appealingly with leads.
That’s because you’ll be able to see which topics interest them, and then guide them toward the next step.
For example, if Lead A downloaded a video from your event about one topic, but listened to three podcasts about another, you can assume they’re actually looking for different content.
From there, you can even work with consultative selling and offer content even before they know they need it.
In the end, your creativity and data analysis will make all the difference!
Organize more profitable hybrid events
You’ve certainly already got some important ideas for organizing a successful hybrid event!
But you know this won’t just depend on choosing one or more of the strategies above, right?
You’ll need to look at data, goals, planning, ticket sales, and many other essential details in your organization.
