The cost of virtual or online events is a really big factor when deciding whether or not to host an event this way. Marketing budgets are always pretty tight and approaching the Powers That Be for a budget boost or with a new idea can be nerve-wracking.
Luckily, I can set your mind at ease with just one sentence: online events are far more cost-effective.
If you’ve ever hosted an in-person event, you’ll know how tedious, frustrating, and expensive they are. Without exception, in-person events just end up with nickel-and-dime costs like coffee, lunches, security, space for the event, bathrooms, staff for check-in, and so much more. Sometimes you’ll even hear the dreaded phrase, “food and beverage, plus-plus.”
With an online event, nearly all of those costs vanish. The online event platform becomes your venue. The security is built into the event and is mostly for the purchase of event admission and moderation in chat. Check-in desk is null and void because it’s done automatically with a login. Coffee is supplied by the attendee’s own office. They likely brought their own lunch (or you’ll have an hour break for them to go get it). There is no plus-plus with an online event.
Some platforms will cost a little extra for customer support chat. However, in-person events have the same thing – staffing. No in-person event allows for a self-service set-up (what venue would allow that?) and yet most online event platforms have some form of it to give you even further discounts.
In the age of technology, where we all carry a micro computer in our pocket and are in constant contact with our friends and coworkers, the convenience of an online event will also make it more profitable. You open the doors to a wider, international audience, inviting more success and leads (which is what we all want from these events anyway). It’s a busy world and if an attendee doesn’t have to take half a week off to fly to your conference and be unable to work for the whole time, they will jump at the chance.
Not only will an online event save you money, but it will likely make you more money as well. Take that to your boss.
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