Multiple surveys were conducted in the last few months showing economic turmoil across various industries. Year 2020 was challenging as many lost their loved ones, millions were unemployed, stock markets plunged, outdated business strategies failed, and growth and revenue of various industries was impacted.
As the event management industry includes hosting events of different stature and is highly dependent on socializing and networking, it was adversely impacted by the pandemic. According to Global Exhibitions Day organization, about $150 billion is spent every year where approximately 4.5 million companies exhibit their products and services. Moreover, it is estimated that about 26 million professionals are associated to this industry.
Since March 2020, 95% of event companies lost approximately 75% of their business, which speaks volumes about disruptions caused by the global events. Although the government and industry lenders are working tirelessly to navigate around the emerging challenges and providing relief through government packages, one might ponder, how can technology help companies to survive and prepare for the future? Virtual event management is a trend that has skyrocketed in 2020, and has become a key component of the event planning playbook.
Virtual event management is challenging
The current situation has made it clear that businesses will take time to ease the uncertainties in the upcoming months and years. However, companies must behave strategically and devise methods to adapt to the new normal. Although more than a 100 million people have taken vaccine shots, the corporate world is still reluctant to mix socially.
To keep businesses afloat, companies have started to look into possible options to engage exhibitors and attendees through contactless networking and engagements e.g., virtual events and webinars through online portals, apps, or social media. Some companies are inclined towards hybrid events with a mix model of in-person sessions with strict health screening protocols and online engagements.
Creating an immersive experience for customers is one of the greatest challenges of virtual event management as it is mainly dependent on connecting with people and keeping them engaged when they are physically not present. Even though there is rise in the trend of virtual events, these online events lag behind in providing full experience as they do not provide enough customizations to keep attendees captivated and engaged. Event management companies must curate a more personalized experience where they would have to find balance between information sharing, gathering, and overload.
Keeping all these factors in mind, there are fundamental aspects within any company that need to be aligned with the future vision to support a seamless and personalized experience for the customer. These aspects include optimization of the operations to improve and increase information quality, transformation of how products or services are offered, and empowerment of organizational teams with effective and efficient back office systems to enhance productivity.
This is where Visionet can help deliver successful event management to companies with its online platform, which allows event planners to seamlessly plan, manage, and execute large-scale virtual or hybrid events.
Visionet’s Event Management Solution to the rescue
Visionet’s Event Management Solution (EMS) is built on the Microsoft Dynamics 365, Microsoft Azure, and Power Platform ecosystem. EMS is a sophisticated suite of digital products working together to create a seamless journey for planners, exhibitors, attendees, and all other stakeholders. From event operations, sales & marketing operations, to back-office operations, our solution provides a holistic view of all tasks.
With other robust features and capabilities, EMS allows event planners to manage planning and execution tasks anywhere, anytime, and from any device. Moreover, its extensive capabilities link EMS to other Microsoft Dynamics 365 modules for workflow automation.
EMS delivers live streaming integrations with ON24, Zoom, Cisco, WebEx, TalkPoint, Vimeo, etc. so that you can reach larger audiences. You can effortlessly evaluate sessions through recording, polling, and live Q&A, and also collect feedback to improve future events. With dozens of other features of Visionet’s EMS you can rise up to the challenges of the new normal and give seamless experiences to your attendees during online events.
If you are looking for an ideal virtual event management solution for streamlining and planning for your online conferences, trade shows, and other large-scale events get in touch with our experts.