As the Covid-19 pandemic threw the brakes on all in-person gatherings the world saw an explosion of virtual and hybrid events.

In 2024, some wonder: “Have virtual and hybrid meetings become as outdated as COVID-19 protocols?”

Despite restrictions being completely lifted worldwide, virtual and hybrid events are expected to grow significantly. 

• Statistics show that hybrid events experience an average 40% higher attendance than in-person-only events.

• The global virtual events market size was estimated at over $78 billion in 2023 with a revenue forecast of over $262 billion by 2030. This means virtual events are expected to grow at a compound annual growth rate of 18.8% throughout the decade.

Although the pandemic might have made them popular, virtual and hybrid events will stay popular thanks to their unmatched benefits.

Why have virtual and hybrid events stuck around long after the days of home haircuts and toilet paper hoarding? In this article we’ll break down 5 reasons for the increased trend toward virtual and hybrid events.

1. Reach Anyone from Anywhere
2. Convenience
3. Cost Effectiveness
4. Flexibility
5. Generate More Revenue

In-person meetings lock your attendees to a specific place and time if they want to be part of your event. As most are unable to travel long distances, only a limited number can be reached with your message.

The boundaries of virtual meetings are only limited to those who have access to the internet (nearly 5.5 billion people). This means that everyone from around the globe can attend your hybrid or virtual event.

Many who might not otherwise have the time, means, or ability to travel can still participate. This greatly increases your market outreach ability and allows for larger business growth.

Going virtual makes reaching people who speak a different language cheaper and easier. 

While it might be expensive to bring in a live interpreter to an in-person event, virtual tie-ins mean you only pay for the interpreter’s time and service, not their airfare or hotel fees. 

Virtual meetings also make the pool of interpreters much larger to draw from. 

• In-person meetings limit you to those who are in the area or those who have the means to travel to the event destination.
• An interpreter is always available to attend a virtual event no matter where they live in the world as long as they have an internet connection.

People love convenience. People love convenience so much that they’ll often choose the convenient option even if it’s bad for them (like choosing fast food over a home-cooked meal).

Choosing the most convenient meeting type however (aka virtual meeting) is never a bad thing. Switching to a virtual or hybrid event means attendees can log in from home, a remote workplace, or on the road.

The convenience of going virtual also attracts those who might be hesitant to attend your event:

• Some already might not be fully committed to attending your event. So if your in-person event happens to be held at an inconvenient time or place for them, their chances of showing up are virtually zero.
• However, when you go virtual and make your event more accessible, people are more likely to attend knowing it’s less of a commitment. 

At one hybrid event, it was reported that nearly 98% of attendees were not planning to attend if there was no virtual option. Virtual attendance offers a “try before you buy” experience that could lead to increased participation at future events.

Virtual meetings allow for a no-fuss setup and tear-down. 

Whereas in-person meetings require setting up and tearing down a physical area which can be inconvenient or time-consuming at best. 

Setting up a virtual meeting can be as simple as sending out a link and the tear-down can be as quick as hitting the “end meeting for all” button.

Organizers have to pay for a lot up front when putting on an in-person event:

• Renting a venue.
• Renting equipment (chairs, A&V equipment, decor, etc.).
• Providing guests with meals or even just coffee and donuts.
• Paying for flights and hotel costs of guest speakers.

In-person events can also be expensive for attendees. Depending on the distance to your venue, participants might have to pay for flights, hotels, or other expenses like eating out.

Virtual and hybrid events are hands down the most cost-effective form of holding events, meetings, and conferences. 

• Virtual events require none of the costs mentioned above.
• The virtual option for hybrid events means the amount of money needed for the in-person part of the event, such as large venues and other travel expenses, will be greatly reduced.

The tree that doesn’t bend, breaks.

Life is extremely unpredictable. And being unable to adapt to these sudden changes can wreak havoc on your meeting, event, or conference. 

That’s why flexibility is one of the greatest reasons for the increase in popularity of virtual and hybrid events.

As much as we may plan ahead, there will always be situations that we cannot account for, such as bad weather, sicknesses, accidents, or a power outage.

Virtual and hybrid events add a great amount of flexibility to your event. So the show can go on no matter what life throws your way.

Love it or hate it, the workforce is quickly shifting from how it used to be. According to some recent statistics, nearly 50% of all US workers work remotely.

Giving participants a virtual tie-in option allows your organization to keep up with the ever-changing needs of your employees.

The need to become more eco-friendly is more important now than ever. Virtual events are the most environmentally friendly way to meet together.

Travel – Air travel is one of the largest contributors to carbon footprints at in-person events. Being able to join from anywhere significantly reduces greenhouse gas emissions that come from transportation.

Event spaces – Event spaces often consume large amounts of energy for lighting, heating, and cooling. Virtual events eliminate the energy-intensive demands of maintaining physical venues.

Waste – In-person events can create significant amounts of waste including printed materials or the single-use plastics used in catering. Virtual and hybrid events significantly reduce paper waste and the environmental toll of manufacturing and disposing of other physical items.

Going virtual or hybrid can generate more income from sponsors as well. Your sponsors can join and participate for virtually no cost while still generating value.

Content from hybrid and virtual events can easily be accessed on-demand after the event is over.

• You expand your ability to reach even more people since those who were unable to attend the event can now have access to the information that was shared.
• And those who did attend can go back and review key points. This review capability allows your information to hit even harder.

 This ‘post-event access’ strategy creates more revenue for the time that was spent on your event.

Virtual platforms can be set up to provide detailed analytics on attendee behavior, preferences, and engagement.

• When was my audience fully involved?
• When did their interest levels drop?
• According to the post-event surveys, in which areas do I need to make changes?

Virtual and hybrid meetings allow organizers and sponsors to understand the true impact that their event is having on participants. These insights are invaluable for future event planning.

Virtual and hybrid events’ long list of benefits are driving tons of businesses and organizations away from in-person-only meetings.

What about you? Are you curious how you can shift your organization away from traditional outdated methods and adapt to the needs of the modern age? Have you tried tapping into the virtual space but run into issues, such as technological difficulties, Zoom fatigue, or feeling like your team is less connected?

Don’t worry. With the right techniques, knowledge, and support you can overcome these difficulties. Our team has years of experience helping companies put on the very best virtual or hybrid experience possible.

How can we help you? Shoot us a quick message telling us what you need. Together we’ll make your next event the best one yet.