3 Key Pillars to Maximize ROI at Your Next Virtual Event
June 10, 2021
Event professionals worldwide have been learning quickly and transforming in-person to virtual events, over the last year and the industry is evolving fast. One of the key challenges event professionals face now though is releasing profits from virtual events - overcoming the challenge requires a new playbook.
A recent report by EventMB suggests that 40% of event professionals have not been able to generate a profit from virtual events. If you are among the 40% or if maximizing virtual event ROI has been a long-standing goal, here are 3 key pillars to take care of at your next event:
1. Attendee Engagement
Engagement for events is like water for the human body. Everybody is aware of its importance, but few are actually consuming enough of it (read executing on it).
Here are some actionable tips towards nurturing audience engagement
- Set up channels to discover audience information.
- Understand audience preference towards information consumption.
- Identify what motivates them to take action. Is it knowledge of what’s new in the market? Or is it the awareness of what other brands are doing?
Comprehending these areas will help you turn your audience into an engaged audience first, and then into a revenue-generating one. All you need to get this party started is a virtual events platform equipped with tools such as surveys, polls, meetings, virtual booths, networking lounges, and social feed.
2. Branded Experience
Branded experiences are important - for brand awareness, top-of-mind recall, and consumer confidence. These branding pillars can be leveraged in 2 ways during virtual events.
- Customize the event experience with your brand colors and personality. Do not settle for anything that can be just replicated by other brands easily. Your event is yours, and you should do what it takes to make it your own.
- Branded experiences can be extended to sponsors and virtual booths as well. Giving your sponsors their money's worth by enabling them to showcase their brand is likely to result in sustained partnerships and revenue in the long run.
3. Data & Insights
Plans without insights are like writing emails without knowing the alphabet - complete gibberish. With deep insights, you can understand your audience better and create experiences personalized to their needs. So next time, be sure to plan your event on a virtual event platform that will provide insights.
Apart from the classics like the number of attendees, some of the many other data points you should track are.
- Number of messages exchanged
- Number of lounge meetings done
- Session with most chats or QnAs
- Number of business cards dropped
- CTA clicks / booth
Audience engagement, branded experiences, and analytics are the dark horses that you need to maximize virtual event ROI. Ready to harness the power of these key pillars with a powerful virtual event platform? Learn how Hubilo is reimagining events.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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