New insights for Hybrid Working
Livestream Strategies for Membership Associations
The Introduction:
In recent years, the events industry has witnessed a remarkable transformation with the rise of hybrid conferences.
Financial and Editorial Dilemmas
Combining both in-person and virtual elements, hybrid conferences offer a unique opportunity for attendees and presenters to participate regardless of their geographical location.
This evolution was further accelerated by the COVID-19 pandemic, which compelled event organizers to find innovative ways to ensure continuity amid travel restrictions and health concerns.
While hybrid conferences have undoubtedly opened up new avenues for accessibility and audience reach, they come with their fair share of financial and editorial dilemma.
Understanding Hybrid Conferences:
A hybrid conference is an event that takes place simultaneously in both physical and virtual formats. Participants have the option to attend in person at a physical venue or join remotely via a virtual platform. This is not streaming to YouTube. This is fully interactive. This dynamic setup brings together the best of both worlds, offering attendees and speakers the flexibility to choose their preferred mode of participation. It also allows event organizers to extend their audience reach to a global audience while fostering a more inclusive and diverse conference experience and new revenues.
The Cost Factors:
Venue and Technology Infrastructure: Hybrid conferences require not only a physical venue for on-site attendees but also robust technology infrastructure to support virtual interactions. The cost of securing a suitable venue, equipped with high-quality audio-visual systems, high-speed internet, and interactive virtual platforms, can be substantial.
- Insight – Prices are coming down fast. Key streaming tech can be in the cloud with staff online. Rushing to build fixed camera facilities is being overtaken by mobile technology.
Technology and Platform Expenses: Hosting a seamless hybrid conference demands investing in reliable virtual conference platforms that facilitate real-time engagement, interactive sessions, and networking opportunities. The expenses associated with these platforms can vary depending on the level of features and customization required.
- Insight – Large conference organisers and membership will develop inhouse capacities – but not yet – until they see how the economic and technical models evolve. Calling in livestream specialists for reputation and high value events, using zoom and teams for lower meetings.
Personnel and Staffing: Managing a hybrid conference necessitates a skilled team to oversee technical aspects, troubleshoot issues, and ensure smooth coordination between virtual and in-person attendees. Hiring capable personnel with expertise in event technology and virtual conference management adds to the overall cost.
- Insight – video companies were able to exploit skill scarcity during lockdown but now their costs for face-to-face streaming are deterring conference producers.
Travel and Accommodation: For hybrid conferences, there may still be a significant number of speakers, exhibitors, and attendees who prefer or need to be physically present. Covering travel expenses, accommodation, and related perks for key participants can account for a considerable portion of the budget.
- Insight – Speakers and time poor delegates expect online options. Significant saving on speaker costs, especially international. Often can’t get key speaker unless offering online presentation as part of hybrid.
Marketing and Promotion: Promoting a hybrid conference is vital for attracting a diverse audience. Utilizing various marketing channels, both traditional and digital, comes with its expenses, including social media advertising, email campaigns, content creation, and design materials.
- Insight – hybrid requires different marketing campaign approach from traditional conference or exhibition. Sales and marketing need to continue after the live event for full value. New skill set needed for new online audiences.
Content Production: Producing high-quality content for both the physical and virtual audience requires investment in audio-visual equipment, video recording, live streaming capabilities, and post-production editing.
- Insight – huge savings if editorial planning curates the programme for “one take TV” to minimise traditional post event “editing” + on demand delegates want content while is it “fresh”
Finding a Balance:
Organisers must strike a delicate balance between providing a valuable hybrid conference experience and managing the associated costs. To achieve this equilibrium, several strategies can be employed:
Sponsorships and Partnerships: Seeking sponsorships and forming partnerships with relevant organizations can help offset some of the costs associated with hosting a hybrid conference. Sponsors may be interested in gaining exposure to both physical and virtual attendees, making hybrid events an attractive proposition.
- Insight – Sponsorship was the main source of covering livestream costs before lockdown, cost effective way of creating legacy video for clients.
Registration Fees: Tailoring registration packages to suit different attendee preferences can help recover expenses. Offering tiered pricing for in-person, virtual, or combined access allows participants to choose the option that best aligns with their budget and needs.
- Insight – breaking the lockdown expectation that online should be free or cheap is key. Value the content and charge an economic price. – open up new subscription and usage options.
Hybrid-Friendly Agenda: Designing a conference agenda that incorporates content accessible to both physical and virtual attendees reduces the need for duplicative sessions and associated expenses.
- Insight – online delegates do not visit exhibitions during live conferences – exhibition needs to be open days before hand – exhibitors having hard time adjusting to online audiences.
Analysing ROI: Conducting a thorough analysis of the return on investment (ROI) can provide valuable insights into the effectiveness of the hybrid conference format. Understanding the tangible and intangible benefits will aid in refining future event strategies.
- Insight – hybrid options let delegates ‘book with confidence’ that they can flip to online.
Conclusion:
Hybrid conferences bring exciting possibilities for expanding audience reach, fostering inclusivity, and navigating unforeseen challenges.
However, event organizers must be prepared to navigate the editorial challenges and costs associated with such events effectively. By adopting innovative approaches, securing sponsorships, and strategic planning, the value of hybrid conferences can be maximized, ensuring a rewarding experience for all participants, whether they attend in-person or virtually.
Narrowcast Media Group has 15 years expertise in producing
commercial hybrid events and offering comprehensive support to conference organisers seeking cost-effective hybrid technology solutions.
Reach out to us for a discussion of your dilemmas and affordable solutions to hybrid challenges.
The transition to hybrid is inevitable but the routes will be varied, and the models are still evolving.
Neil Stewart
Neil Stewart is the CEO of Neil Stewart Associates, a conference consultancy company that has worked for 30 years in specialist public policy and association conferences development for government and the private sector. He created and has run several businesses and has worked for INFORMA and other leading conference media groups. He is the Editorial Director of the Narrowcast Media Group, the livestreaming division of Policy Review Projects Ltd.
For more information contact Angelo@narrowcastmedia.co.uk or ring 00 44 207 324 4330
