The Future is Virtual: Why Event Pros Are Betting on Virtual Experiences
Today, travel restrictions are a thing of the past but virtual events are here to stay and going stronger than ever. Recent data indicates that demand for virtual experiences will continue to grow in 2023 and beyond.
We recently surveyed event professionals about their virtual event plans, and the results show a strong commitment to virtual experiences:
60% of respondents plan to invest the same amount or more in virtual events in the next 12 months.
Only 11% said they would invest less in virtual events next year.
The remaining 29% are still unsure, but few are stepping back from virtual events entirely.
This lines up with forecasts that predict the virtual events market will grow by 23.7% CAGR between 2022 and 2030.
So what's driving the virtual event boom? Here are a few key benefits that have professionals betting on virtual:
Accessibility: "The ability to include participants in various locations," noted one respondent on the upside of virtual events. Without travel, anyone can attend.
Environmental impact: Virtual events greatly reduce the carbon footprint of large in-person gatherings requiring travel.
Cost efficiency: Producing virtual events costs on average 75% less than in-person events.
Of course, translating an in-person experience into an engaging virtual one comes with challenges. But, the event pros we surveyed are committed to honing their virtual skills. Survey respondents mention sales alignment, driving registration and attendance and finding the best time for events as opportunities they’re working to master.
By investing now in creating distinctive and interactive virtual experiences, event teams can future-proof their offerings and deliver lasting value, both virtually and in-person. This is where partners like purple cork can help. With extensive experience producing virtual events, purple cork can handle the heavy lifting so you can focus on strategy and engagement. As one client noted, purple cork is an "efficient and worth the money" virtual event partner. Another described the company simply as "amazing!"
Let the purple cork team put their expertise to work for you. They are ready to collaborate on crafting virtual events tailored to your goals and audience. Reach out today to learn how purple cork can help build interactive virtual experiences that deliver results.
