How Important Are Live Events?
We saw events begin to roll back out in 2022 and have really seen them roll out in full fear in 2023. There are numerous types of live events we could discuss from concerts, to parades but what we will focus is more on the gamer and nerd culture space of Conventions. A Convention is a meeting, usually of a particular group. Political parties, teachers, plumbers, gardeners, toymakers and computer designers all hold conventions and again our focus will be on the gamer and nerd culture. A lot of times these are commonly referred to as Cons such as AnimeCon, DragonCon, FurCon and even TwitchCon while others are massive cons but have their own branding such as PAX (Penny Arcade eXpo).
LIVE EVENTS ARE DYING
It is an unfortunate scenario when industry long events start to face their own demise. An example of this is the recently cancelled E3 event :
’Almost a year after announcing its return, the Entertainment Software Association announced today to its members that this year's Electronic Entertainment Expo (E3), has been canceled, IGN can confirm.
Two sources have confirmed to IGN that the organization announced the cancellation via an email sent out to its members today. The email said that while E3 "remains a beloved event and brand" that the 2023 version "simply did not garner the sustained interest necessary to execute it in a way that would showcase the size, strength, and impact of our industry."
The ESA concludes the email by reiterating its commitment to advocacy work. It does not mention undertaking the show again in future years.
Following IGN's report, the ESA issued the following public statement from Kyle Marsden-Kish, Global VP of Gaming, ReedPop:
This was a difficult decision because of all the effort we and our partners put toward making this event happen, but we had to do what’s right for the industry and what’s right for E3. We appreciate and understand that interested companies wouldn’t have playable demos ready and that resourcing challenges made being at E3 this summer an obstacle they couldn’t overcome. For those who did commit to E3 2023, we’re sorry we can’t put on the showcase you deserve and that you’ve come to expect from ReedPop’s event experiences.
The press release adds that ReedPop and the ESA will continue to work together on "future E3 events."
The event was supposed to be held from June 13th through June 16th at the Los Angeles Convention Center and would have been the first in-person E3 event since 2019. The event was canceled in 2020 due to the COVID-19 pandemic, and while a digital version was held in 2021, the event was canceled again in 2022 in an effort to focus on a "revitalized showcase" that would set a new standard for hybrid industry events.
E3's return for this year was announced last June alongside the confirmation that E3 2022 had been canceled. The news comes as multiple big names in the industry, from Xbox, Nintendo, PlayStation, and more recently, Ubisoft announced that it would not be attending E3 in any capacity, with most opting to host its own digital showcases.’
This information taken from IGN’s reporting on the current announcement of E3’s cancellation but not necessarily its forever retirement as many currently speculate.
Which leads us to the discussion of should all live events go digital as some Twitter and Twitch users have expressed over recent days?
DIGITAL ONLY EVENTS
Personally I find the idea of digital only events as lazy as it gets when it comes to human interaction. One of the most important things about any piece of content including video games and nerd culture is how relatable is that piece compared to the viewer/consumer interacting with it. I am thankful for my time spent with friends, collaborators, developers, and PR teams in person. Only strumming through emails creates a lack of a tangible rapport no matter how nicely and professionally every single email is written.
PAX East just reminded me once again the importance of seeing all of these people in person and getting the joy of being around them and the energy they exude towards their passion. It is palatable and long lasting. PAX had numerous layers to it compared to an event like TwitchCon as to where that event is truly ONLY about people. If TwitchCon has a major drop off from its streamers attending the event then that event itself will truly have nothing to offer the greater whole as there are not enough business interactions available to everyone. This is due to an event like TwitchCon and the size of available businesses and compared to the sheer amount of eager, and willing creators to vie over their product(s).
Let’s pull back from my personal beliefs and let’s dive into more critical thinking when comparing these two different approaches.
Differences Between Running Virtual Events & Physical Events: Pros & Cons
1. Cost-Effectiveness
One of the best parts of an in-person event is coincidentally one of the most expensive: travel. Traveling to a new city or stomping ground is exciting and can help employees shake the daily grind, but it is also extremely costly. Costs for physical events include the following:
Renting event space
Hiring staff and caterers
Booking live entertainment
Paying for employee travel costs
Putting speakers up in hotels
There is something to be said for changing it up and giving attendees a memorable experience in a new city, but it will cost you. Fortunately, there is a simple alternative.
Virtual event companies offer “virtual venues”, 2D or 3D event spaces that can accommodate all of your employees and guests, no matter where they are in the world (and if you have a battle-tested virtual platform provider like 6Connex, you can even invite the entire internet if you so please). On-demand speakers will agree to speak for a fraction of the price at virtual events because of the convenience. You can afford better speakers (and more of them) for the same price.
What does that mean? For marketing events, more high-quality speakers translate into more potential, high-quality leads. The bottom line of the pros and cons of virtual events is that there are more pros than cons. Virtual events are more cost-effective but do not have the benefits (or setbacks) of travel as physical events.
2. Flexibility
Our workforces have gone global. Our employees are in every corner of the globe, and more and more of them are working remotely. How do we accommodate our growing workforce? Virtual event solutions have emerged to solve the problem of different time zones and varying schedules.
As exciting as travel is for employees, the time it takes to plan, fly (often internationally), and drive to the hotel can amount to excessive “dead” time where emails pile up. Calls get pushed – not to mention the time blocked off on the calendar for the conference itself. What if some people can’t make it? Sometimes, in-person events give attendees access to the presentation decks after the event or offer recorded sessions for later on-demand viewing, but generally, the session concludes once it ends.
Innovative companies run virtual offices and conferences with the idea that attendees will come back again and again. There may have been too many great sessions playing simultaneously, or attendees would want to grab some collateral to share with their CEOs. Whatever the need, virtual event attendees can revisit the experience on their terms, increasing the conference’s value for the attendee and its ROI for the summit producer.
The flexibility medal goes to virtual.
3. Mass Data Collection
At in-person events, whether internal or external, the extent of the data collected is usually thought of as a handwritten sign-in cheat. But not anymore. Mass data collection is possible at in-person events, and this is how. Organizers should invest in great event technology, such as Eventory by 6Connex, that allows for in-person events to be much more efficient in collecting data. Eventory provides digital ticketing and registration, attendee check-in on and off-site, reporting, metrics, lead generation, and ROI measures. It also gives your attendees a space to network and connect. Virtual events, on the other hand, are master data miners with no extra technology necessary. Hot leads leave all kinds of clues into their buyer journey – what content they’re viewing, which sales reps they’re talking to, which attendees they’re engaging with, and what resources they’re downloading. The best part? All exhibitors can access this data, grow their email lists, and nurture leads better than ever before. If you want big data, go virtual.
4. Networking
The battle royale of Face-to-Face vs. Interface-to-Interface, in-person vs. virtual events. In a world where we spend so much time online, sitting in front of our laptops or staring down at our mobile phones, it’s nice (even special) to look someone else in the eyes when you say hello. Networking is what really drives the pros and cons of virtual events versus in-person events.
Meeting people in person whom you’ve only ever spoken to on the phone or via email adds a critical layer to the relationship, allowing for a different kind of communication. Although virtual event providers have advanced chatting technology, making it exciting and engaging for attendees to chat during the event, the world still needs handshakes. However, in the buying experience department, networking can be easier virtually.
Attendees are generally interested in seeing what vendors have to offer. There are tons of tools out there that we don’t yet know about, and by chatting it up with booth reps on a virtual events platform, we can learn a lot about what’s new and what’s possible, all without feeling the pressure of buying anything.
Finally, let’s be honest… we don’t REALLY want to chat with everyone. At a physical event, we often avoid eye contact or try to browse datasheets while dodging overzealous sales reps. In virtual summits, we can take our time and browse what we want when we want. Virtual event networking can allow you to be more efficient due to the ability to filter the attendee list and speak to people that you are interested in, thus saving more time. It is a much more relaxing and efficient experience. At in-person events, you often chat with people, not knowing who they are and what they offer. This can be time-consuming and, thus, less efficient.
Bottom line – no chat box will beat a genuine handshake, but uninhibited sales inquiries are often better for business. Learn more about virtual trade shows if you’re curious about taking your next exhibition online.
5. Personalized Merchandise
Even as virtual summit veterans, we still pick up conference t-shirts and peruse booths for the best freebies and swag to take home, even though the last thing we all need is another water bottle. Personalized merchandise is a fun and engaging part of in-person events, although when I think of packing that swag in my suitcase, I start to reconsider…
We can almost hear you thinking, “Can’t virtual events create merchandise as well?” The answer? Yes, they can. A prime example of virtual swag is giving booth attendees virtual gift cards from Door Dash, Apple music, or even Starbucks. Another example of virtual swag is t-shirts. Although unnecessary, t-shirts are often shipped out to staff to wear in videos or given to speakers with the option of recording their videos in personalized swag. Some marketers even offer exclusive merch to All-Access Pass participants for a personalized touch. Everyone loves t-shirts. In-person events are king in merchandise.
6. Long-Term ROI Effects
Long-term event ROI takes time to measure. Both physical and virtual events leave strong brand associations in the participants’ minds. The difference is that virtual events can run longer, accumulate more leads, and reach a larger audience. You can also leave your event to become perpetual, giving attendees unlimited access to data, networking, and on-demand content. The big data acquired during the event also leads to a ton of revenue in sales due to lead nurturing. The victor? It depends on your company’s goals, but the possibilities of virtual events are virtually endless.
Where Do We Head?
With a mixture of my personal beliefs and facts about digital vs in-person events where do you all think this should head? Maybe we can discuss it in person the next time I go to an event, or just maybe we will have a chat on a website instead, only time will tell!
