How Are Businesses Capitalising On The New Event Formats In 2022?

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Like no man is an island, companies cannot afford zero interaction with their stakeholders in today’s business environment. Right from exhibitions, trade fairs, and Annual General Meetings to internal events, organizations have always known the importance of hosting such gatherings. They are a great opportunity to communicate and build strong relations with all parties affecting the day-to-day operations of an enterprise, such as buyers, creditors, board members, employees, and vendors, among others.

Having established the cruciality of events for businesses across industries, it is clear that the virus outbreak disrupted this equilibrium as well. As Covid spread rampantly, governments world-over imposed strict restrictions like travel bans, social distancing, lockdowns, and put a halt on all public gatherings. This situation forced companies to collaborate with event planners to design alternate solutions. Did they find a suitable way out? One can say that by making all events digital, the event landscape managed to sustain.

Although fully online events are a promising substitute. They still lack the charm, impact and excitement created by in-person events. Even attendees are more willing to go for real-time gatherings as compared to connecting solely via electronic platforms. In the current times, you never know when the next virus wave or mutant will wreak havoc, and things are resuming normalcy but at a slow pace. The question that arises is what are businesses doing to make the best of the present situation? Let’s take a look at the new trends that are taking over the corporate events segment –

The rise of micro-events

As the name suggests, these events are similar to their legacy counterparts. The primary difference is that micro-events are much smaller in size and scope. Does this mean that they limit the overall outreach? Not quite. By leveraging disruptive technological tools, you can reach out to an audience base spread globally, and at the same time, allow them to explore an in-person gathering. Further, given the volatility of government restrictions in terms of the size and extent of events, these are a safer bet. Micro-events are a modern blend of both the formats – online and offline.

The “Great Resignation” leaves an impact

Various sectors are noting resignations from a large number of employees over a short period. This phenomenon is commonly called the “Great Resignation”. How is this impacting the event industry? Like any other, this segment has seen numerous employees leave their jobs. When a considerable chunk of your workforce quits, it leaves the company grappling with day-to-day operations. When it comes to organising an event? Manpower is key. With the ongoing phase, organisers must be smart with their decision making. Labour-intensive roles are replaced with tech-based alternatives wherever possible. People are increasingly walking towards the startup bubble, wherein most operation and execution-related problems are resolved by the inclusion of disruptive technologies. By meticulously laying out a plan, you can minimise the effects of a dwindling workforce in your next event. Further, the Great Resignation has surely set the wheels to a fin-tech revolution in motion. With more and more startups and companies coming up – the scope for service-based industries like the event sector will increase. In the days to come, there will be an increasing demand for events and conferences coming from these emerging businesses.

Focus on diversity and inclusion

Traditionally, when a company hosted a training session addressing such issues, the event would flow in a textbook manner. Attendees would usually sit and listen to long lectures. It often made people overlook the value addition and made the purpose of such events seem trivial. However, in the days to come, businesses will revamp the face of diversity and inclusion oriented events. Such sessions will become more participative, engaging and collaborative. The events of tomorrow will tap into the sentiments of its attendees. They will pass on the information in exciting, realistic and engaging ways.

Make safety a priority

The urgency to promote safety across the event gambit is now more than ever. By taking steps like making double vaccination mandatory, temperature checks, frequent sanitization, and abiding by the social distancing protocols, companies can host events that make their attendees feel safe. Further, if your organisation uses technology to elevate the event experience, then you must install appropriate network safety systems to avoid data thefts or breaches. The aim should be to create an environment that makes all parties feel secure.

Businesses that stay on top of such trends will emerge thriving in the future!

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Authored Article by Amit Relan,

Co-producer, Woot Factor Brand Architects

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