Corporate events, MICE initiatives, weddings, etc. were traditionally the highest revenue-generators for the hospitality sector. However, the pandemic outbreak disrupted this business, following lockdowns and the stringent social distancing norms later.
This is when most hotels relied on virtual events, which helped them recoup some business and. Now, even though things are gradually returning to normal, Manish Mittal, Founder and MD of Panoramic Episodes believes that a hybrid approach will still preferred by many when it comes to events.Â
How did virtual events help hotels keep their events business going during the pandemic?
Hotels adopted virtual events as their go-to strategy during COVID-19 after suffering a massive hit. Steadily, their audience began growing. It seems that when live events return, some virtual elements will still be needed to accommodate and retain audience who cannot travel.
However, the interpersonal communication, fostering connections and pleasure associated with physical events can’t be savored in the online space. Also, revenue generation and ROI of virtual events are difficult to gauge and achieve. Hence, hybrid events blend the attributes of physical and virtual events and bridge the physical-digital divide.
Accor’s ‘Vivaah At Novotel’ offers web telecast well as food hampers to guest unable to attend the wedding in person.
Many hotels are still organising hybrid events for events like weddings, product launches or small gatherings. What kind of customisation, creativity, and personalisation can they employ to make these more interactive and engaging?
One way to make these events impactful is onboarding an event management service provider, who can conceptualise interactive events. Furthermore, utilising technology to offer high-end and glitch-free experiences, devising new-age content that grabs the attendees’ attention, and incorporating fun elements are equally important.
Having a host or an emcee as well as providing on-demand content that attendees can access at their convenience is other ways to elevate the event. Ultimately, the more immersive hybrid events are, the more successful they will be!
Has growing screen fatigue made virtual events lose their appeal over the past few months?
Yes, people complain about fatigue and tiredness due to spending lot of time on their digital devices due to remote working. Virtual events add up to these woes.
They have to concentrate more on what is being said and the sustained visual focus only intensifies the exhaustion. The mental load of virtual events will always be much heavier than live events.
The attendees could miss out on almost half of the content, due to distractions. However, various strategies can be adopted to minimise digital fatigue.
Manish Mittal, Founder & MD, Panoramic Episodes
Is the gradual reopening of the economy a silver lining for the events and MICE business in the hospitality industry?
Of course, the gradual reopening of the economy is, indeed, a good sign for the events and the MICE sector as they can boost their operations. However, business recovery is going to depend on customers having the confidence that destinations and venues are safe to visit.
In the pandemic-hit world, MICE (Meetings, Incentives, Conferences & Exhibitions) events are sure to behave differently from the past. There will be a stronger spotlight on smaller domestic events with a higher focus on hygiene and social distancing norms. Interestingly, social distancing, when required, is much easier to handle in exhibitions than conferences, which suggests there will more exhibitions before conferences.
Venues will be expected to offer the choice for virtual and hybrid events with enhanced infrastructure and flexible spaces. For the foreseeable future, safety and flexibility will be the driving force behind the industry.Â
How can hotels leverage hybrid events to bridge this gap of physical experiences and social distancing?
They can do this by bringing together the event host, live streaming offering and technology to organise high-end events in addition to offering significant experiences. Anticipating the arrival of physical events, many individuals are investing less time in front of the screen. On the other hand, some people prefer to join remotely.
By merging both these participants, hybrid events present the future of event marketing. Right from increased reach and attendance, easier data and insights, enhanced event flexibility to providing safety and peace of mind, it can add value in numerous ways.
With exhibitions back on the agenda, how can hoteliers combine physical and virtual booths to create a hybrid expo, which enables physical audiences to access virtual booths, and virtual audiences to access physical ones?
Perhaps, one of the greatest advantages of hybrid events is that they are very easy to grab a larger audience because individuals, who battle to attend the live event, have the luxury of joining it digitally. This enables the physical audience at an exhibition to access virtual booths, and virtual audience to access physical booths.
Another benefit is that all the content canvassed during the event can be kept online for a certain amount of time even after the event is over. Participants can easily access the matter once the event has ended, as can the individuals who couldn’t sign into the digital event at that point of time. As not every person feels great in a virtual space, hybrid events offer members the choice of how they wish to attend the event.
How can they work with event managers to leverage the power of data analytics to allow their customers to get a better measure of ROI?
There’s enough evidence that if you use data analytics properly, your ROI can skyrocket. Of course, you have to properly learn the art of doing it but it isn’t as hard as you may think.
Prominent reach and versatility of hybrid events can draw in more participants and sponsors to the point they can incredibly support the organiser’s turnover and increase their ROI. The expanded flexibility additionally reduces monetary risk since it’s much easier to downsize face-to-face activities.
With hybrid in place, you can gather all the important insights from live as well as remote participants. Equipped with the data, they can further develop their events without fail, in turn improving the ROI.
