How is Hybrid Event Technology playing a major role in the event industry?

How Technology is Playing a Major Role in Hybrid Events

Hybrid Event Technology
The sudden blow of the pandemic shook the entire world and forced it into a cocoon. Event industry businesses were the first ones to bear the brunt and were obliged to speed up digitization to change the manner events were traditionally hosted and attended. Technology put forth the seed of virtual and hybrid events, a norm in the events business today. The progress has been beyond measure, thanks to a high ROI, access to a global audience, the hands-on convenience, and the accessibility coming along with it, the hybrid events have gradually become the most sought-after choice amongst businesses and universities across the world. According to an estimate, 73% of event marketers believe the hybrid events market is expected to grow by $68 billion by the end of 2022.
The event sector has recently experienced tremendous technological progress in order to accommodate this demand. The interaction is anticipated to increase significantly with the introduction of new software like smarter analytics, facial recognition, Bluetooth beacon trackers, and most critically, the advent of metaverse events.

Rise of Smart Analytics

The event industry is thoroughly data-driven and has an immense potential to utilize the insights for growth. Analytics primarily offers two advantages to the organizers,
  • Data from multiple touchpoints
  • Networking opportunities
Multiple touchpoint data gives them specific information so as to understand how each component of the event functions and identify the strengths and weaknesses of every event. It allows the organizers to draw data from the number of logins and a breakdown of new and active users to analyze stats for sessions, including the total number of unique views, video replays, the total number of unique replays, number of feedbacks received per session, and use of tools like Miro to enable real-time collaborative brainstorming between the attendees. While keeping a track of the number of registrations for each session, the number of chat conversations, and the number of Q&As generated, it additionally becomes easy to formulate the behavioral pattern of the attendees as well.
Networking on the other hand comes as an outcome of the event statistics. Based on the attendee interests and industry, organizers develop a strategy to connect with the relevant industry pioneers and a future plan to expand its niche. This also helps them track the success of the event by analyzing data on average speaker ratings, the number of downloads for each file the speaker publishes, and the ratio of hours of lectures attended and the maximum attendance.

Bluetooth Beacon Trackers

Bluetooth beacons aid in-person participants in navigating a venue for hybrid events. Users use an app to quickly register their location while also receiving the agenda. This tracking makes use of Bluetooth beacons to provide the host and delegates with real-time information on participant locations. Delegates may quickly decide where they want to go and how crowded a specific area is at any given time by having access to this information.
This further serves as a useful networking tool by making it easier to locate and identify attendees who share similar interests. To start creating meaningful long-term connections, these people can message one another and meet up there. These new acquaintances can carry on their talks after the in-person event has ended by combining these capabilities with the event’s virtual platform.

The World of Metaverse

Since the year 2020, the metaverse has become the buzzword around the globe. Businesses are spending millions to get ahead in the race. Perhaps the most significant impact of the metaverse on the events sector is the potential for endless innovation. Metaverse events can be wide of almost any size because of their extremely immersive and adaptable nature.
The idea of gamification, which is commonly used to engage customers, staff members, and, in the case of events, attendance, substantially expands in the metaverse. Metaverse events have become more participatory and dynamic as a result, and people have more freedom to express themselves and be creative. After all, the metaverse provides attendees with essentially infinite ways to establish their virtual identities through interchangeable avatars, which enables fun and inventive method to engage with clients.

Higher Cost to Benefit Ratio

An important aspect that most organizers run for in the case of hybrid events is the ability to generate a high return on investment per event as compared to traditional physical events. What adds to this benefit of hybrid events is the access to the global audience without breaking a sweat and drenching your pocket. It’s a well-known fact that the entire events industry works on the number of attendees per event ratio. Hybrid events offer the best solution to it. With the opportunity to gain the attention of a worldwide audience, you get better sponsorship proposals and a larger group of prospects, and higher ROI.
Through the usage of VR and AR pushing the metaverse beyond the horizon, the digital tool industry is continuing to advance at a rapid rate, and hybrid events are in a prime position to take advantage of this innovation to offer adaptable content to their dual audiences. As such, virtual and hybrid events are undoubtedly poised for greater expansion; in fact, a recent analysis predicts that the market for virtual events might increase by $269.2 billion between 2021 and 2025.
A pioneer in the event industry, ibentos, has been a game changer with its revolutionary and innovative solutions to cater for your virtual and hybrid events at multiple levels. Thanks to its vast and vivid experience of 10+ years in the events industry and rapid succession in virtual and hybrid events technology, ibentos has been successfully dominating the market with the quality of events organized across 22 nations of the world. hybrid events technology

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