An Event Organizer’s Worst Nightmare – It’s Happening!
Wondering why we just said that? Among the key highlights of virtual events - was totally decimating entry barriers into the event market and effectively exposing the shortcomings and flaws of on-ground events.
Planning and executing a virtual event is relatively much, much easier than an in-person one. The resources involved, budgeting, logistics and strategies see a monumental difference when comparing the two formats.
This change is reminiscent of the seismic shift that happened within the film and television industry once Netflix gained a foothold, globally, not so long ago.
Nowadays, it is becoming increasingly difficult for organizers to adequately justify ticket prizes as apart from experimenting with content, there really aren’t many unique ways to create immersive event experiences!
FOMO presents a challenge, if anything!
While virtual events negatively impact FOMO, every development isn’t necessarily bad. It also offers a variety of opportunities for the event industry at large, to grow and upscale!
For example, by going digital, events that were previously hosting around 2000 to 3000 attendees on the ground can now easily widen their global reach and host up to 8000-10000 attendees at a time. Something that would be extremely hard to come by in an on-ground event scenario.
And now for the ultimate epiphany – event organizers
who were always shackled by innumerable budgeting and logistical limitations now get to design the event just like they had envisaged since the only considerable expense would be the event software or platform.
Don’t Rule Out FOMO’s Future Return Just Yet
Now that the global markets seem to have stabilized, in-person events are gradually coming back and will most likely gather momentum sooner or later. You only get to realize the importance of something when it’s gone and FOMO’s absence from the events space is no exception.
If at all, its absence has further emphasized the significance of live, on-ground events. Young geeks and company professionals will stay glued to their computer screens in the long run but that’s about it as most attendees are bound to return to attending events in person.
After spending more than two years behind their screens, people have acknowledged the power of live experiences and the galvanizing effect that quality events have at large. Virtual events have their advantages, but nothing comes close to the in-person experience.