How to Reduce the Costs of a Hybrid Event

The money you used to spend on in-person events may have been re-invested in up-skilling, technology upgrades, and platform partners, but that doesn't mean you have to spend two equal pots of money to move your events forward in a hybrid fashion.

Prior to Covid, event organisers who wanted to improve the digital experience of their in-person events would choose a mobile app, a digital voting system, networking technology, video production, or a keynote streamed into the plenary.

Everything then changed when we made the switch to fully digital, which meant that the majority of the event budget had to be redirected away from in-person elements and instead invested squarely in platforms, production, and the people needed to run virtual events.

The generally feeling from other event organisers and planners to me is divided, but most now believe that a return to in-person events means they are in a quandary. Which is to keep the virtual offer but absorb the additional cost of a fully hybrid event, or to choose between in-person and digital across the entirety of their events programme to stay within budgetary constraints.

However, you can deliver hybrid events while sticking to the budgets you set before the pandemic.

Just because the money you were spending on in-person events has been re-invested in up-skilling, technology upgrades, and platform partners does not mean you now have to spend two equal pots of money to move your events forward in a hybrid fashion.

The reality is that as we resume having events, it simply means that we will venture out slowly, over time, but with caution.

Travel plans will almost certainly change, whether due to a lack of desire, different CSR policies, reduced travel budgets, or the accelerated capabilities of meetings technology, resulting in companies no longer needing to fly people to a conference when those travelling solely for the content can access it online.

Your attendees' expectations will have changed, and many of them will now expect remote access to save them time away from the office, the cost of attending in-person, and even to reduce their environmental impact.

The disadvantage of this is that your in-person event capacities will begin smaller than you anticipate or expect.

Smaller capacity means more money saved on food and beverage, block room bookings, transportation, venue hire, badging, and other conference materials.

You will also find that you do not require as many staff on-site e.g. registration desks, green rooms etc

And of course with fewer venue requirements then comes more choice and, arguably, less emphasis on the need for luxurious surroundings. For internal meetings and the return of live, well-equipped, cost-effective hotels, training centres, and more unusual meeting and event spaces will be in high demand.

The in-person format will also be more focused on event goals and objectives that are better suited to live environments.

For instance, if the primary goal of your event is networking, you should prioritise budget for this over content-led in-person costs such as speaker expenses, set and stage design, and multiple break-out room hire.

The savings from in-person content-led costs, which are now better suited to the online elements of a hybrid event format, can be redirected into platform upgrades, virtual speakers, and digital marketing for increased reach.

Don't forget that those production companies and AV suppliers who once specialised in optimising your on-stage lighting, sound, and technical production had to re-skill in order to stay in business during the pandemic.

These supplier collaborations will now bring far more value to the table than they had done previously.

Green-screen virtual studio space, digital show-callers, pre-recording and streaming capabilities, and virtual project managers should also now be available from your AV provider.

Pre-Covid, equipment, and technical suppliers were charged on a per-item basis.

In your future events these same suppliers will have adapted to provide hybrid packages and project fees that provide excellent value for specialist expertise.

Speak to your in-room suppliers about what will now be offering for digital events should be part of your cost negotiation when you start planning for your hybrid event.

As planners and marketers tweak spend, discover cost-savings based on goals and requirements, secure budgets, and earmark investment for the future, the future of hybrid events may evolve more slowly than the onset of virtual events.

However, a gradual evolution will also help to shape monetising strategies, providing additional revenue opportunities for future investment in the long-term picture of how hybrid events will be defined.

But for the time being why not go and compare and contrast your previous costs with your current needs and invest more in people, virtual preparation, and planning, because a high-quality digital offering is more than just having the right technology partner in place.

You are a highly skilled event planner/organiser who has the knowledge and the ability to stage both physical and online events.

In the end events will simply be events, attracting in-person and online audiences from all over the world.