There is an undeniable shift occupying all of American and western culture, digitalization. Not a day goes by where phones, live video, digital communication, and the internet at large don’t grow in size. And while these forces continue to grow, more traditional forces start to shrink.
For example, the travel industry has been experiencing slow and steady drops. Physical events have also dropped in popularity in exchange for digital ones. These phenomenon are, of course, explainable in part by the effects of the pandemic. Although they simultaneously represent a larger shift.
This shift is motivated by a few key facts. Online calls and events are for one, more practical. Everyone can attend from the comfort of their own home. These digital events are also much cheaper, not requiring any physical venue. Although the system is notably imperfect. Large scale calls have people holding unnatural amounts of eye contact and cloud body language.
The reality is still that businesses need digital engagement platforms. It is time, money, and productivity saving. Or at the very least there’s the option of hybrid events. Events where the main event may be physical but there are virtual components. Metaverses are another interesting alternative that tries to replicate a physical realm digitally.
Regardless of the execution, virtual events are the future of business. Not only are they infinitely more standardized in modern workplaces, but they are practical. The gamification of virtual events is another distinct advantage. While many physical events may have games and other forms of engagement, digital ones can integrate them much easier. Creating games and engagement platforms that are cheaper and more sincerely integrated.
Looking at turnouts, it seems this shift has already begun. Today of those who attend more than 10 yearly events, 46% attended online events, while only 13% attended physical events. People undeniably prefer the practicality and utility of online events. Looking at platforms like Microsoft Teams, the 13.5 times growth in the past few years shows a similar trend.
It’s not that physical events no longer hold any place, they’re still incredibly important. It’s more that any business not considering digital events is actively holding itself back. In 2022, 40% of events are planned to be virtual, and 35% are planned to be hybrid. This is a trend that will only increase with time. Technology and businesses are heading in the same direction, the question is who will catch on and who will falter.