The financial aspect
While the overall revenue of a digital event is lower than in-person events, most Confiva hosted events have created the same ROI as live ones or have well surpassed their expectations. The production and software costs of going online are significantly lower. Making a profit is easier as fewer tickets have to be sold to make a return on the investment. With no venue limitations, the potential is much higher, and with lower production costs, the risks are lower.
The same principles apply to hybrid events. In a hybrid event, the online production is even cheaper as many costs are shared or are needed for the in-person events. Video production teams, technicians, venue, VJ’s, and others are already in place. With the help of a dedicated Confiva event manager, the switch is easy and quick. We also have to acknowledge that some people prefer to attend online or cannot visit your location at the time of your event. For online attendees, the price can be adjusted. The digital native attendees are out there and ready to buy their tickets. Here is a simple comparison: