Analysis July 2021
Around a third of events professionals don ’ t have a crystal clear idea of what a hybrid event actually is , according to research carried out by SwapCard .
There is confusion around the definition and structure of a hybrid event model , as well as the value , challenges and steps required to execute a successful hybrid event .
Swapcard , the AI-powered event and matchmaking platform , found that despite the confusion , close to 70 % of planner respondents said they were organising hybrid events for either Q3 or Q4 this year . While 15 % stated they were planning a hybrid event for 2022 .
Only 11.5 % of respondents stated they were sticking with virtual-only events and only 5 % claimed they were focused purely on in-person event strategies moving forward .
Confusion over hybrid formats is rife says Swapcard research
According to Swapcard ’ s Hybrid is Now report , engaging two audiences in different places is considered to be the biggest challenge , as cited by a third of event planners ( 33.8 %).
The second biggest challenge , as voted for by 20.6 % of respondents , is the belief that hybrid events require a larger overall budget , followed closely by providing adequate networking opportunities for attendees .
Cindy Y . Lo , CEO at Red Velvet told the Swapcard report : “ Budget by far is the biggest challenge when going hybrid . My advice for other event planners organising hybrid events : determine early on what your goals are so that you can validate if they are prepared to make the financial investment necessary . Every company has a different risk-tolerance and that ’ s where we are right now with planning hybrid versus 100 % digital events . I would also recommend that if you did not evolve in the last 14 months to the digital world , invest in hiring someone that has taught themselves what it truly takes to produce a solid digital experience or at least is comfortable with this , because virtual isn ’ t going away .”
The vast majority of event planners expect to see a hybrid model emerge as the main event type going forward . However , nearly 30 % of respondents are either unsure or do not agree that hybrid events are the future . This consolidates the notion that there is a lack of knowledge and confusion about hybrid events within the industry .
There is no single , clean definition of a hybrid event that encompasses all the varieties possible in today ’ s tech-centric world . The Events Industry Council defines hybrid meetings as “ a meeting that combines face-to-face and virtual aspects .”
While there may be many faces to the hybrid model , one golden thread will link them all together - the idea that there is both a virtual and in-person aspect to a gathering of people and exchanging of ideas .
How and when this group of people meets may vary , as well as how they share , learn , exchange , network , buy and sell . The hybrid model can even extend beyond a single event and run throughout the year , making it more of a community than a one-off occurrence .
Barbara Moore , client relations account manager at Big Head Cartoon Caricature Art