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Is it cost effective to hold a hybrid event?
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Does it make sense to webcast a live event or does webcasting diminish attendence at the event site. Is there value to be gained by the audience member either live or over the web? Is there value for the event creator to hold the hybrid event?
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3 Answers
Webcasting a large event definitely makes sense in most cases. This is becoming more cost-effective and the technology is increasingly reliable.
And it definitely adds value for the organization hosting the event---and the audience member who logs in virtually---to offer the webcasting or hybrid option. If you're producing this event, you've gained another attendee---even if his or her participation might be limited as compared to someone who has committed to attending in person.
But what we're finding after a few years of Hybrid Events is that, contrary to our initial fears, they are not diminishing in-person attendance. If anything, there is evidence that Hybrid Events are becoming an good promotional vehicle to generate interest in the next scheduled event.
Some time back, I attended an event that was trying an hybrid approach for the very first time. They set up a live Twitter feed and projected it on to a large screen that was adjacent to the stage. The most common comments were things like "Looks like a great conference. Can't wait to attend next year!" and "Wish I were actually there. Might have to join you next time."
Baseball team owners were initially very reluctant to broadcast games on the then new medium of radio in the 20's and 30's. Their attitude was "Why should we let people listen to the games for free? Then they won't want to come to the ballpark." But, the exact opposite was true. Free radio broadcasts become a boon for ballpark attendance as they increased interest in the game and developed new fans who were then wanted to come out and see the games in person.
We're finding that the same appears to be true for in-person conferences and events. Hybrid meetings have intrinsic value for both producer and attendee, but they are also demonstrating their value as a promotional and marketing vehicle.
Far from reducing your in-person attendance, indications are that hybrid events may actually be increasing it.
Hybrid events can offer significant value for both brands and audiences. They are cost effective when considering the extended global reach/awareness, deepened engagement across audiences and life of content.
A considerable amount of effort and budget is spent on content development and with a virtual component, you are able to offer it to a larger audience and expand its access from live only to on-demand consumption for both face-to-face and virtual audiences for an extended period of time. In turn, awareness and brand touch points have a much longer lifecycle with greater results, resulting in significant ROI.
I've found that getting the tickets sold up front and then when it's sold out announcing the livestream will be available (since it's sold out) works well. If you let people know up-front they may be less likely to purchase tickets.
Another option, which worked well for the recent Wordcamp in San Francisco was to let people know they could buy access to the livestream OR if they bought tickets to the event they had the option of attending in real life or virtually.
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