View from the back row at a concert during a light show featuring blue light with white spotlights scanning the audience
Hybrid event technology has been around and evolving since 1992, but we’re just now realizing how valuable it is to our global, human connections, and—as event planners—to our bottom line.
Suddenly, technology has made it entirely possible to produce an event with the social distancing we may want and the capacity we need. As our guests and attendees have learned to navigate the digital world for all kinds of gatherings and activities, we have realized that digital events can be monetized and additional revenue streams can be created.
Limited capacity no longer means limited revenue. With hybrid capability comes scalability and global reach. Conferences and events are now available to attendees from all over the world without the travel, time, and budget requirements of the past.
As digital and hybrid events have created engaging, accessible choices and opportunities, many people have realized they prefer attending events virtually, and they want them to continue.
But the question still remains: how do you build your ROI with a hybrid event? And why is that such a relevant question in 2021? Because incorporating a hybrid plan into your repertoire means you’re prepared for the future of engagement with your attendees and members.
So let’s talk about exactly how you can grow your ROI using a hybrid event strategy.
Scalability, Scalability, Scalability
Imagine that everyone on the planet is invited to your event. All eight billion of us. And we all showed up. Of course, that’s not possible with an in-person event (that venue is called Earth, and there’s only one).
Image from space of the city lights on earth at night with the sun rising over the horizon.
But it IS possible with a hybrid event strategy. People are at your event in person, and others are streaming in live from all over the world, sharing your programming alongside your in-person guests. If all those people have bought a ticket, what does that mean for your ROI? Exponential growth. Exponential fun. Exponential yes.
Have you ever wished you had more space so you could invite more people to your event? Now, you can. Now, the internet is the only limit to the number of people you can invite.
Suddenly, you not only have a bigger audience, but a new audience which translates to additional revenue.
Overhead? What overhead?
Scaling an audience for in-person events is often impossible, and if it is possible, it’s expensive. Taking care of humans requires capital that can’t always be scaled to meet their needs. Travel, accommodations, food and beverage, staff, venue fees—it all adds up, often to the detriment of your ROI.
A hybrid solution allows more people to attend at a minimum price tag for you. Creating a hybrid solution may not be as difficult or expensive as you imagine. Galoo offers affordable packages with options for exactly how much engagement you’ll need—and we'll train you on how to create the best experience possible for all involved. Now that’s a strategy worth considering.
Equality of Experience
No matter how people show up to your event, they should have the same experience whether they are in-person or virtual. Creating a digital experience that mirrors the in-person engagement allows you to scale your capacity and your ROI at the same time.
Opportunities for creating value for your online attendees are limited only by your imagination.
Because the virtual audience enters into the a twin of the space in a similar way as live attendees enter the physical space, your virtual guests will enter through the same doors and can move their camera to take in the expanse of the conference hall, lecture hall, or lobby, just as your in-person guest does with their eyes.
If you have a live concert or lecture for your in-person guests, your production team can create a point-of-interest from the stage, and your virtual guests can feel as though they have front-row seats.
As well, whatever you do for your in-person attendees can be reproduced virtually. If you’re serving a specialty drink for the night, you can treat your virtual guests with a mixologist who can show them how to make it.
And the technology just keeps on getting more helpful as more and more people open up to how fun and convenient it can be to engage virtually with content they’re used to experiencing in person.
Sure, it’s a different experience, but different just means change, and change is evolution.
View through the screen of a cell phone shooting a video of nightlife in a city.
Hybrid event solutions like Galoo are exactly that.
Want to learn more about how creative you can get with your programming and your ROI using Galoo’s platform?
Our Customer Success team is passionate about helping humans safeguard our art, our history, our music, and our connections by showing you exactly how to set up a hybrid event at your venue.