Corporate events are an excellent strategy for businesses to engage with clients and staff, such as product launches, trade shows, conferences, and board meetings. If you have a key role in departments such as human resources, mastering the art of creating corporate events may help improve your career.
There are many reasons why companies host corporate events. Some include educating team members, offering motivational advice, celebrating milestones, and encouraging collaboration. But whatever it is, make sure to keep it as effectively as possible.
Nowadays, there are many ways to execute a corporate event. You can do it online with the help of video conferencing platforms that improve virtual corporate experiences, especially for those who work and operate remotely. Of course, you can also do it in person. Now, the question is, which is more effective for your business?
To find out which is more effective between online and offline corporate events, it’d be best to dive deeper and know them well. Here are some key considerations you might want to keep in mind to determine which would be effective for your business:
- Number Of Attendees
If you compare in-person from online corporate events, you’ll notice that virtual events have more attendees than offline events. This is because anyone can easily join an online discussion anytime and anywhere without any travel and additional expenses required. Also, event materials, such as program schedules, are readily available.
On top of that, data retrieval is much faster and easier compared to traditional in-person events. Not to mention the automation when following up on potential customers that allows quick access to important lead information.
However, dealing with a high number of attendees isn’t an easy task. Therefore, it’d be necessary to implement strategic planning that will help you communicate and engage effectively with a multitude of prospects.
In addition, offline corporate events have a limited number of attendees based on where the event would occur. But the case would depend on what type of corporate event you’re planning.
- Time Differences
Online corporate events would also require some preparation beforehand, but it’s not as time-consuming as their offline counterpart. When preparing for physical events, you need to invest time, especially when designing and arranging the place where the event will take place.
However, you’ll still need to implement the usual practices, such as registration, marketing, and promotion. The good thing about online events is that all pre-event processes can be done automatically.
Since it can help you save a lot of time, your team will be able to focus more on the sales and marketing aspects of the event. As a result, you’ll be able to generate more sales efficiently without spending too much of each other’s time.
- Networking Opportunities
Networking opportunities are a cost-effective strategy to promote your business, grow your customer reach, and meet new prospects. When it comes to online corporate events, networking may seem to be more effective than offline events, probably because of the high number of potential participants. The only problem is that it’s online.
Unlike offline events, it’d be difficult to interact with one another personally in online video conferences. An effective networking opportunity should be discussed heart-to-heart, which seems impossible on an online platform despite its wider reach. You can mitigate the situation using live chats, scheduling another online event, or conducting surveys.
Online events have a lot of distractions that may disturb and steal the attention of your audience. The most common example of distractions is baffling and mentally disturbing background sounds from different participants. Though these instances could be remedied with muting options, they can still take your precious time to communicate away from you.
However, offline corporate events also have distractions, such as cellphone ringing, email notifications, disturbing sounds, and other catastrophic events like minor accidents. They can offer a more engaging and interactive experience to the audience compared to virtual events. So, you can say that distractions are less of a worry when it comes to in-person corporate events.
- Office Breaks
When a company has succeeded in its grandiose offline events, such as product launches, the management would usually give all of its staff a break for a chance to rest. However, this is rarely the case for online corporate events and businesses that operate remotely.
Since virtual events aren’t time-consuming and don’t require intense planning, unlike in-person events, having a business vacation would be unlikely to happen. On the contrary, fewer distractions and vacations would help your staff participate more in online conferences and activities.
So, if you’re running a business that operates physically and remotely, it’s practically up to you whether you want to give your staff a break from hard work. Your decisions should be justifiable. Make sure that you have a valid reason so they can understand you better.
Budget and costs are among the most important factors to consider when hosting corporate events. Physical or offline events would yield higher expenses due to some necessities, such as rental space, decorations, travel expenses, or accommodation for staff and clients.
On the other hand, virtual events are cost-effective and probably the cheapest way to organize an event, perfect for businesses low on funds. All you need is a host, a video-conferencing application, and a marketing strategy to promote your online event.
In addition, you don’t have to invest in expensive cameras and photographers to record your session. Virtual apps have a built-in recording system that allows you to document the entire event with one click.
Another great thing about online events is the ratio between ROI (return on investments) and expenses, which shouldn’t be ignored. You can gather and convert many leads immediately without renting a space and paying for accommodation.
Which Is More Effective: Online Or Offline?
While it’s true that online corporate events have more benefits than physical events, it’s worth considering your business goals. For example, if you want to increase brand awareness, an online event would be enough. But if you want to convert more leads and improve your networking strategy, planning an in-person event might help you more.
Considering all the factors discussed above, have you considered which is better and more effective for your business? The answer to the question should be based on your needs. If you want to save on expenses due to limited funds, hosting online events would be better. But if you have enough funds, you might want to consider a physical event.
Whether online or offline, the key to a successful and effective corporate event is proper planning. This is to make sure that you’ll be able to provide an engaging discussion that will keep everyone attentive.