Business

Was Your Live Event Cancelled? Here Are 3 Benefits of Going Virtual

If you are still debating whether to simply postpone your event or make the shift to virtual meetings and events, here are 3 benefits to consider.
Written by Alex Hay

Nowadays, especially in a time of concern over the spread of coronavirus, plenty of business is moving virtual.

Between online tools like Slack, Google Docs, Trello, and Zoom meetings, colleagues can stay in touch and keep the flow of work continuing as normal. Undoubtedly, even beyond the current health situation, online tools and experiences are increasingly an integral part of a modern business's functions.

This shift does not only have to apply to everyday business--we’re seeing more and more companies shifting their large corporate events like annual general meetings (AGM) and conferences into interactive webinars and online events.

If you are still debating whether to simply postpone your event or make the shift to virtual meetings, here are some of the benefits to consider:

 

Save on costs

For one, your business will likely save a lot on all sorts of expenses, including venue and reservation fees, catering fees, on-hand staff payments, security costs, and hotel bookings. These expenses can easily add up to thousands of dollars, even for smaller events.

If you typically host a conference, it can also lower the price of admission, enabling more smaller businesses with limited budgets to purchase tickets and offer their own unique insights.

Additionally, for voting events like a shareholders meeting, there are significant opportunities for savings on voting materials and processes. For example, instead of hosting a live vote with hundreds of ballots to produce, collect, and tabulate, this can be simply done with electronic ballots with instant results.

Even when using third-party providers and voting administrators, the savings are incomparable when compared to in-person gatherings.

 

Offer More Ways to Bring People Together

Livestream events have already proven themselves to be popular forms of media consumption. The livestream service Twitch, a popular platform for content creators, hosts an average of 15 million daily users, making it obvious this is an in-demand option for many viewers.

Services like these, paired with existing social media platforms, can help your business get out the message and increase hype and participation for an upcoming event.

For example, if a vote is expected to take place before or after a live event, you can get begin getting voters excited about learning the results at the meeting or encourage them to vote beforehand.

 

Provide Flexibility in Making Important Decisions

No matter how an organization adapts to working remotely, important decisions will still need to be made in the meantime. Luckily, decision-making processes do not necessarily need to be restricted by physical space or time.

As mentioned in our previous example, something like a vote on a policy matter does not necessarily have to take place during a specific timeframe--nor does it have to be tied to a particular meeting. Digital voting gives voters and administrators the freedom to hold a vote how and when they want it, whether it is over several hours, days, or even weeks.

Increasing the window that voters have to take action has several benefits. Firstly, it gives any in-person voters and voters working remotely more opportunities to participate. Instead of having to deal with time zone changes and schedule workarounds, voters can simply ensure they vote within the extended allocated period of time.

Secondly, it increases the odds of voters being more informed when they make their decision. More time to make a decision gives voters more opportunities to conduct research into policy initiatives or evaluate candidates without having to rush. Better decisions in the voting booth ultimately become better results for your organization.

 

Digital Leads the Way

If you’re concerned about losing out from canceling major organizational events, you don’t need to worry--there are plenty of options that allow businesses to continue as normal. Instead, view this as a fantastic opportunity to take advantage of new digital solutions.

Do you have questions about how to continue your event or vote? Contact us and our team will work with you to find the right solution.

Originally published Mar 27, 2020, updated March 27, 2020

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