Netflix of the events industry ?
T he International Association of Professional Conference Organisers ( IAPCO ) and global venue association AIPC have released a research paper on hybrid events . Hybrid Events : Just how profound a pivot ? – A status check for the events industry , provides insight on how the approach to hybrid has evolved , the challenges addressed and those still to be tackled . The paper is the result of more than 30 interviews with industry thought leaders , combined with research through 30 reports and 75 articles .
The report notes that the events community has created digital solutions in record time to be able to continue to connect communities worldwide .
The learning curve in doing so is steep and there is still a lot to do before excellence is delivered in terms of service , business model and experience , the report authors say . They note both organisers and convention centres are still in the process of navigating through uncharted territories , learning both from each other and from other stakeholders and industries .
While the report does not attempt to provide the ultimate answers to all the questions related to hybrid events , it does provide insights on how the industry ’ s thinking on hybrid has evolved over the last 18 months .
“ Hybrid gives us opportunities to completely rethink our business models . We can become the Netflix of the events industry , by new audience discovering , bringing content in creative ways and establishing innovative pricing models . This paper is a great source of inspiration for doing so ,” says Greg O ’ Dell , president of AIPC .
Ori Lahav , president of IAPCO , adds : “ The hybrid market is still ill-defined , and many clients and venues are still struggling with giving hybrid a place . It is the role and responsibility of our associations to provide our communities with insights and guidance on how to embrace this new reality ”.
The full research is available via the www . iapco . org website .
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The value proposition
One part of the associations ’ report attempts to list some of the basic known benefits of hybrid events . Although the authors acknowledge the list is not exhaustive , those benefits most often cited include :
Reach . The ability to traverse distance and time zones to reach an event ’ s intended audience , enabling remote attendance and expanding the number of ( potential ) viewers .
Customisation . The ability to capture , edit or augment content ( for instance with logos videos , graphs , sponsorship messaging ).
Re-Use . The ability to distribute content repeatedly , on demand and / or repackage and repurpose it .
Education . The ability for an event to serve ( extended ) educational purposes at a lower cost ( remote learning principles ).
Data Exploitation . The ability to track , capture , analyse , and otherwise use attendee ( user ) data towards designated objectives , e . g . marketing , sales , issue awareness , compliance-relevant figures .
Sustainability . The ability for event attendees to opt for remote and forego live attendance , keeping the event ’ s overall carbon footprint lower (‘ one less person flying there ’).
Savings . Depending on the event , technology , business model and circumstances : doing an event hybrid can in many cases drive costs down
Above : Ori Lahav through higher remote viewership , or simply be far more affordable for the audience to attend ( remotely ).
Market Discovery . The ability to identify , contact , and / or attract event visitors who could become new future contacts , clients , or first time ‘ live event ’ visitors ( studies indicate people who have attended events virtually are more apt to visit it live the next time than people who never got / had a virtual impression of it before ).
Recruiting . The ability to tap into a larger universe of potential prospective job or volunteer recruits .
Eco-System Creation . The ability , through planned and persistent effort , to build or drive towards a virtual or hybrid eco-system around particular events , a brand , or an organisation .
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