When will businesses and charitable organizations be comfortable holding indoor events with full venue capacity? It doesn’t matter because in-person events that add live video streaming can reach exponentially more attendees virtually. Hybrid events are the future.
In this article, I will discuss the attendee limitation challenges that businesses and nonprofits have faced due to the COVID-19 pandemic and how to capitalize on the benefits of hybrid events.
The Impact of COVID Restrictions
COVID-19 has disrupted the way we operate which has impacted the bottom lines of organizations, large and small. The pandemic has been particularly hard on in-person events, stifling the operations of everything from conferences and workshops, to worship services and fundraisers. Concert venues, restaurants, and nightclubs have often had the strictest COVID mitigation policies with proof of vaccine or negative COVID test requirements.
According to a report from Small Business Majority, most small businesses report they’ve experienced negative impacts to their business as a result of the coronavirus crisis.
To date, there have been over 43 million coronavirus cases reported in the United States. This disease has affected every American in some form. Where there is no government mandate, many organizations choose to decrease room capacity limits as a mitigation measure. Additionally, there is a significant portion of the population that is still uncomfortable attending events even if they are vaccinated. Those who are immunocompromised often feel face masks are not enough protection against this nasty virus.
Small businesses and nonprofits suffer because lower attendance means lower revenues. Organizations that operate on shoestring budgets can’t afford the lost income that results from cutting attendance. Twenty five percent to fifty percent of your normal room capacity is usually the difference between profit and loss.
Reach More People With Live Video Streaming
The good news is that organizations are now capitalizing on the hybrid event model. Hybrid events combine a “live” in-person event with a “virtual” online component. Bringing in a qualified video production company with live broadcast experience can take your entire project to another level.
When the pandemic caused in-person events to be completely canceled, virtual events became the default because they allowed attendees to attend from the safety of their homes. Corporate America quickly realized the untapped benefits of virtual events and now they will never go back to the in-person only model. The adjustment to hybrid events has not only become a smart solution for planners who depend on in-house audiences, but an opportunity to grow their reach.
You can reach more people online than you can fit in any room. Small churches that didn’t even film their services before COVID are now able to reach millions of people around the world. Imagine what that means for tithes. Even when COVID is long gone, the hybrid model makes good business sense. Trade shows, seminars, ceremonies, and any other type of meeting can reach larger audiences with live video streaming.
Additional Revenue Opportunities
The beauty of live video streaming is that you can conduct digital marketing campaigns and monetize your broadcast. Immediately see the analytics of your traffic and track the effectiveness and success of your presentation.
- Use links and banners for viewers to purchase products and services.
- Add value to your sponsorship packages by positioning sponsor logos and messages.
- Sell advertising space to companies seeking brand exposure.
- Collect viewer contact information to build your database.
At the end of the day, organizations that reimagine their operations will not only survive, but outperform their competition in our new normal. Necessity is the mother of invention.
Contact us to see how we can help take your events to new levels.
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1 thought on “Live Video Streaming Hybrid Events Offer Amazing Opportunities”
Thank you Mark for this valuable insight. As a director for the Torch of Wisdom Foundation, Inc., we are finding that streaming our events LIVE which hosting an in-person program has opened our Foundation to new followers and donors. We appreciate your great work in helping our Art Extravaganza 2021 events extend its reach to broader audiences through video streaming!