An increasing number of demand gen industry leaders are beginning to make the switch from physical events and conferences to virtual summits as the new way to aid their lead generation efforts. Can hosting a virtual event in place of a physical event really make a difference in your business? Read below to find out how innovative virtual summits can help your demand gen efforts.
Save on event costs by going virtual
Hosting and attending physical events and conferences can cost companies hundreds of thousands of dollars. Direct event costs like travel, venue rental, hotels, decorations, food, and more, all add up fast – not to mention the cost of lost productivity from being out of the office. While hosting a virtual event can cost anywhere from $50,000 to $100,000*, it’s still a considerable cost-saving over hosting a physical event.
Invite more attendees & increase brand exposure
When hosting a physical event, attendance is often limited by the amount of physical space available and the number of representatives each company can afford to send. By switching to a virtual summit, you can reach thousands more attendees and potential leads – especially if you have speakers and attendees helping spread the word about your event. As a bonus, virtual events can be attended both live and on-demand afterwards, so attendees can avoid conflict obligations and get the most out of your event.
Create better networking opportunities
Multi-sponsor virtual summits are becoming a more popular way to do virtual events. These summits allow companies to connect with attendees through virtual booths and sponsored sessions, creating new networking opportunities for your attendees that aren’t as widely available at physical events. Hosting a multi-sponsor virtual summit can also help your own business build and strengthen valuable relationships with your event sponsors.
Increase event value and ROI
By creating virtual summits that they know will keep attendees coming back again and again, companies can create more value for the attendee while increasing ROI for the event host. Whether an attendee missed a session and wants to return to view it, or they need to find key collateral to share with their CEO, attendees can revisit the virtual summit whenever they want!
While companies can still find value in hosting physical events, the benefits of hosting virtual summits are becoming more appealing for demand gen marketers looking to increase brand awareness on a broader scale while saving on event costs.
If you have any questions about virtual summits or would like to learn more about Demand Frontier’s virtual summit partnership with 6Connex, be sure to contact us.
