June 04 2021

Hybrid solutions offers new revenue streams on top of traditional business model

Finally, it appears that the black clouds are slowly but surely disappearing, and the sun is returning, spreading light and optimism on the fair and conference industries. Large-scale physical conferences and fairs will soon return and blossom everywhere.


By Anders Hageskov
Partner at Virtual Hive

Finally

Finally, it appears that the black clouds are slowly but surely disappearing, and the sun is returning, spreading light and optimism on the fair and conference industries. Large-scale physical conferences and fairs will soon return and blossom everywhere. In the meantime, the pandemic has taught us that businesses can grow and thrive using digital tools. A rapidly growing number of case studies reveal attendee numbers surpass physical events up to 5-10 times. Not to mention the quality of data that virtual events generate, making cascading in the organization or following up on sales leads a lot easier and more effective.

It is clear to most of us in the conference and fair industries that virtual solutions are here to stay – even at this point when the world is re-opening, and the new designation is Hybrid. 

A hybrid event combine a physical event and a parallel digital solution offering content live and on demand. It does not necessarily mean that hybrid solutions should be a 1:1 mirroring of the physical event in terms of content. As experts with more than 20 years of experience designing and executing physical meetings and conferences around the globe, we see gigantic business opportunities for venue owners that embrace hybrid opportunities. Creating engaging and profitable virtual conferences and fairs, in addition to physical events, is a challenge bigger than just broadcasting content from a studio, enabling attendees to interact. 

I believe that the future main parameter for becoming successful in terms of virtual events will be the ability to create a true experience: a virtual experience that creates real emotions and excitement in participants to engage, interact and stay that little bit longer. In other words, it should be a surprisingly positive experience to visit a virtual event… always and every time.

This approach led us to define and create Virtual Hive: a virtual platform for meetings, conferences, and fairs of any kind. It is created with DNA from the physical experience marketing industry mirroring real-life experiences but adapted to fit digital behavior. 

The platform has proven to be a strong tool creating new revenue streams in combination with physical events. 

My advice to everyone in this industry is that adding a virtual part to a physical event, scaling geographical reach and number of attendees, is a business opportunity you should not miss out on. 

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