Webinars and video conferences have seen rapid development since the pandemic forced businesses to turn to virtual engagement. But even as lockdowns lift, there is sustained demand for events that offer virtual or hybrid elements. Increased interest and investment in virtual event tech indicate that we are only in the early stages of this evolution of engagement.

The nature of hybrid events puts the offering in prime position to capitalise upon digital innovation and provide ground-breaking flexible content to their dual audiences. Businesses who take full advantage of this potential are well-placed to enhance their brand while staying plugged into the developments of the digital age.

Necessity is the mother of invention

The pandemic presented the events sector with an immediate challenge, as businesses had to rapidly find alternatives to in-person engagement. Embracing virtual platforms was the clear solution, but as lockdowns continued, providers needed to consistently improve and vary their offerings. This necessity catalysed rapid tech innovation.

Across the summer of 2020, Live Group saw interest in virtual approaches from our clients increase by 320%. Between the start of the pandemic in March, and September, when we hit our annual peak for virtual events, we believe clients gained a better understanding of the capabilities of virtual to meet their needs. Basic video-streaming would no longer be enough to drive meaningful engagement. Virtual platforms would need to deliver relevant and flexible content alongside networking tools that could maximise audience experience.

Event technology has developed apace as a result, and this acceleration in tech adoption has paved the way for a widespread shift to hybrid event provision post-Covid. However, while the new generation of interactive platforms have provided valuable engagement experiences, they are just the start of exciting innovations that could transform the sector.

Cutting-edge tech

The significant growth potential of virtual and hybrid events is reflected through the increased interest in the industry from international tech giants. As we enter the digital age, leading innovators are recognising events as a sector that is ripe for development through the application of tech like augmented and virtual reality.

For example, Microsoft’s Mesh technology uses mixed reality applications, avatar and hologram features to enable audiences to attend an event from anywhere in the world.  Digital versions of conference delegates are able to interact regardless of where they are physically located, with attendees being teleported into a virtual space that offers a shared, immersive experience.

Such technology could hold real appeal for businesses looking to reduce international travel. These initial developments are likely to kick off a trend towards increased investment into hybrid event tech.

The sustained appeal of hybrid

There is no doubt that businesses and audiences have retained some appetite for in-person events. However, companies should not overlook the demand from delegates for the type of flexible, sustainable, and accessible content that can be delivered by virtual and hybrid formats. Moreover, organisations would be rash to forgo the increased data collection and audience insight that virtual engagement technology provides.

Hybrid events offer businesses the best elements of in-person and virtual engagement. The dual nature generates unparalleled audience insight from online attendees and enables valuable in-person interactions. Innovative tech platforms that allow both audiences to have high-quality experiences will be crucial tools in the mission for post-pandemic growth.

A bright future

As more businesses adopt a hybrid approach to events, more providers will feel the need to develop their tech offerings. At Live Group alone, we have already seen a 200% increase in clients wanting a long-term strategic partner in the virtual and hybrid event space. This increased demand will breed competition, which can only lead to one thing: innovation.

This is already driving unique and exciting tech offerings. The events industry is undergoing rapid evolution as businesses strive to respond to new audience behaviours, and the necessary shift to virtual events has exposed huge untapped potential in the sector. It is an exciting time for the industry that tech innovators are primed to capitalise on. Businesses who choose to return to ‘traditional’ engagement risk missing out on a crucial, tech-driven booster for post-pandemic growth.