Virtual events have grown increasingly popular over the past few years due to the convenience and flexibility they offer. It is undeniable that virtual events have made it easier to access people and content from around the world.
Virtual events statistics are extremely important for understanding the impact of these events and can be used to track attendance, engagement, and the amount of revenue generated. Therefore, this article aims to discuss the importance of virtual event statistics, their potential, and the disadvantages that accompany them.
Virtual Events General Statistics
Virtual event statistics are invaluable for understanding the rapid emergence of virtual events and the impact they have had on people and businesses.
According to Statista, the average attendance rate for virtual events is approximately 1,356 participants, and this number appears to be increasing as 33.7% of marketers view the cost-per-attendee ratio of virtual events as being higher than that of traditional events.
Therefore, several companies are investing around 10%–20% in virtual events due to their cost-effectiveness, convenience, and potential to reach a wider audience.
In 2021, the virtual events market was valued at over $100 billion and was projected to reach more than $360 billion by 2027.
Another survey indicated that nearly 73% of people felt more connected to the event through a virtual platform, compared to 17% who said they felt disconnected.
Further, 28.4% of respondents used virtual events to connect with their audience more than 10 times in 2022.
Virtual events give the chance to generate leads. As reported by a survey, 68% of virtual event attendees said that they shared their contact information with at least one exhibitor or sponsor.
What are the Advantages of Virtual Events?
It is clear that virtual events are here to stay with their plethora of advantages.
After holding their virtual events, almost 74% of event planners claimed to have witnessed a good return on investment (ROI) in just six months.
A survey found that 95% of event organizers reported that virtual events had helped expand their reach, and 72% of them claimed to have received positive feedback from their audience about their virtual event.
In addition, statistics revealed that 79% of event planners reported having significantly reduced their event expenses by taking the virtual route, which enabled them to invest more in the quality of their event.
The same survey showed that 81% of event organizers reported having increased the number of attendees they could accommodate, while 77% claimed that the virtual format allowed them to offer more learning opportunities.
Further, 85% of event organizers reported being able to save time by using virtual events, since it allowed them to plan and execute events more efficiently.
79% of event organizers reported an increase in sales after transitioning to virtual events, ranging from 10% to 40%.
A survey also showed that 77% of event organizers found virtual events gave them the opportunity to generate post-event content.
As a consequence, according to statistics, using virtual events by some companies and organizers led to a 27% increase in productivity.
What Are the Disadvantages of Virtual Events?
However, despite the various advantages of virtual events, there were a few drawbacks reported in the surveys.
The most common disadvantage is related to getting the required knowledge. 11% of online attendees felt that the virtual events they attended didn't provide them with the educational value that they were expecting.
Online events lacked the interactivity, engagement, and sense of community that would be present at an in-person event.
Further, 66.67% of the surveyed online attendees are not likely to register for an event if it is longer than one hour, due to a lack of engagement and interactivity
Statistics reported that 41% of event organizers admit that technical limitations have been a hindrance to creating more engaging online events.
In addition, 59% of the surveyed online attendees are not likely to return to an event if there are technical difficulties, such as poor sound quality or lagging video streams.
Virtual events can cause isolation: a survey of online attendees revealed that 62% of them found online events to be isolating due to the lack of face-to-face interaction.
There are also some future limitations, such as concerns around data privacy, security risks, and cyber threats.
Forecasts predict that 32% of organisations will be reluctant to continue using virtual events if these threats are not mitigated.
Virtual Events vs. in-person Events
The coronavirus pandemic has forced companies to shift their events online, leading to a surge in virtual events, yet the debate between virtual events and in-person events is far from resolved.
A survey of over 2,000 businesses across the US and UK found that 92% of event planners prefer in-person events, citing enhanced interaction and better networking opportunities as primary benefits.
32% of the businesses surveyed reported that they have hosted fewer in-person events since the start of 2020.
A survey found that in-person events are also more successful in terms of ROI by a 3:1 ratio compared to virtual events.
Another survey of event planners showed that 75% of respondents said they felt the quality of in-person events was superior, with higher levels of engagement, immersive experiences, and attendee satisfaction.
Yet, choosing one of them is based on multiple factors such as cost, efficiency and logistics
Hybrid Events Statistics
Hybrid events, which offer a combination of virtual and in-person experiences, provide the opportunity to reach both local and global audiences.
According to a survey of event planners, 65% of respondents said hybrid events had a higher rate of return on investment than in-person events.
14.8% of respondents felt that hybrid events would become the norm in the future, providing the best of both worlds: the tangible, personal experience of an in-person event with the accessibility and reach of a virtual event.
Statista also reported that 57% of respondents were more inclined to choose a hybrid event over an in-person event in 2021.
Likewise, 86% of B2B organisations have seen a positive return on investment after seven months of hosting a hybrid event.
It has been revealed that 63% of businesses with medium- to large-scale (from 2000 to 5000) operations have found success in hybrid events.
93% of event marketers plan to invest in virtual events moving forward.
This shows that virtual events are becoming increasingly popular and are seen as a viable option for event marketers. This is an important statistic to consider when discussing virtual event statistics, as it demonstrates the growing acceptance of virtual events as a legitimate form of event marketing.
Virtual events have increased over 1,000% since 2019.
It is a clear indication that virtual events are here to stay and are becoming increasingly popular. This is an important statistic to consider when discussing virtual event statistics, as it shows the incredible potential of this new form of event hosting.
The number of organizations planning virtual events doubled in 2020.
Despite the challenges of the pandemic, organizations have been able to find ways to continue to host events virtually, allowing them to stay connected with their audiences and continue to engage with them. This statistic is a reminder of the importance of virtual events in the current climate and the potential they have to reach a wide audience.
75% of event organizers plan to incorporate virtual components in future in-person events.
The majority of event organizers are recognizing the potential of incorporating virtual components into their in-person events. It speaks to the growing trend of hybrid events, and the fact that virtual events are becoming an increasingly important part of the event planning process.
Virtual event attendance is 10-20% more than traditional in-person events.
This speaks to the potential of virtual events to reach a wider audience and create a more engaging experience for attendees. This is an important statistic to consider when discussing the advantages of virtual events over traditional ones.
The total number of virtual events on Eventbrite was 20 times higher in April 2020 than the prior year.
Virtual events have become a much more popular option for people to attend events, as physical events have been largely restricted due to the pandemic. This statistic is a testament to the resilience of the events industry and its ability to adapt to the changing circumstances.
90% of organizers canceled or postponed all their events due to COVID-19.
This highlights the need for organizers to find alternative ways to host events, such as virtual events, in order to keep their businesses afloat. It also serves as a warning to those considering hosting an event in the near future, as the risk of cancellation or postponement due to the pandemic is still very real.
80% of respondents said they would attend virtual events even after the pandemic is over.
Virtual events have become a viable option for people to attend events and engage with others, and they are likely to remain a popular choice even after the pandemic is over. This statistic is an important indicator of the potential for virtual events to remain a viable option for people to attend events and engage with others.
In 2020, 66% of event planners switched from in-person to hybrid events due to the pandemic.
The majority of event planners had to quickly adapt to the changing landscape and switch from in-person to hybrid events in order to stay afloat. This statistic is a reminder of the importance of staying agile and being able to pivot in the face of unexpected challenges.
62% of event organizations believe that virtual events are here to stay.
This is an important insight for anyone interested in the future of virtual events and the potential for them to become a permanent part of the event landscape.
84% of event organizations use virtual event platforms to achieve increased global reach.
It highlights the potential of virtual events to expand the reach of events beyond geographical boundaries, allowing organizers to engage with a much larger audience than would be possible with traditional events. This statistic is an important reminder of the potential of virtual events to revolutionize the event industry.
74% of people expect to invest in virtual event technology in the near future.
People are recognizing the potential of virtual events and are willing to invest in the technology to make them successful. This is an important statistic to consider when discussing virtual event statistics, as it demonstrates the potential of virtual events and the willingness of people to invest in them.
Virtual events are expected to generate a revenue of $294 billion by 2025.
This is a clear indication that virtual events are here to stay and are likely to become an increasingly important part of the events industry in the coming years.
Approximately 67% of businesses plan to increase their spending on virtual events in the next 12 months.
Businesses are recognizing the potential of virtual events to reach a wider audience and to provide a more engaging experience for attendees. This statistic is a clear sign that virtual events are becoming an increasingly important part of the marketing and event planning landscape.
The most frequently attended virtual events are webinars (87%) and training workshops (82%).
Webinars and training workshops are the most popular types of virtual events. It demonstrates that people are actively engaging with virtual events, and that they are an effective way to reach a wide audience. This statistic is an important piece of information for anyone looking to host a virtual event, as it shows that webinars and training workshops are the most successful types of virtual events.
60% of executives expect a full return to in-person events in 2021, while 40% expect it by 2022.
The majority of executives are optimistic about the return of in-person events in 2021, while a significant portion are expecting it to take a bit longer. This is an important insight for anyone looking to plan events in the near future, as it provides a glimpse into the expectations of those in charge.
Virtual events typically cost less than 25% of what it takes to host an equivalent in-person event.
Hosting an event virtually can save a significant amount of money compared to hosting an in-person event, making it an attractive option for those looking to host events on a budget.
To conclude, virtual events are taking the event marketing industry by storm, with many businesses across a range of sizes and sectors experiencing positive ROI.
Nevertheless, both in-person and hybrid events remain viable options for companies looking to strengthen relationships with their customer base and increase brand awareness.
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