With the explosion of digital devices on networks and remote working, creating exceptional digital experiences has become a critical enabler for communication, collaboration and global business success. Because of this, Metaverse virtual events are fast becoming the newest addition to the AV business toolkit, ending the limited capabilities of static 2D virtual events or unsustainable physical events.
There is already an enormous demand for virtual events in all industries. Market research firm GVR predicts that the value of the global virtual events market will grow from $114 billion in 2021 to $618 billion in 2030.
Demand from organizations and participants is equally high. As business leaders are tasked with doing more with the same budget or less, 3D virtual events provide an important vehicle to increase audience diversity and reach, fostering greater connection and creativity for today’s digital businesses – and that 85% of the cost of a physical event and supporting their environmental, social and governance goals. And attendees are increasingly expecting to have a digital way to attend an event.
Any organization hosting a live event or experience desires the connection and collaboration that comes with social interaction, but also the digital sharing, recording and analytics their organization requires. As organizations begin to explore the models, required skills, and applications for Metaverse 3D virtual events, it is important for digital leaders to understand how to take full advantage of this technology.
From 2D to 3D – the power of virtual Metaverse events
The world of Metaverse Virtual Events is a game changer for events and an intelligent, integrated and intuitive 3D social experience space that creates connections in virtual and hybrid events and experiences. Flox’s powerful, easy-to-use and immersive platform allows attendees to set up their own avatar and access a 3D virtual event experience. Information can be easily experienced, captured and shared for limitless collaboration in unlimited languages. With a personalized avatar, incognito or personal view – which can be 2D or 3D – the event is easily accessible via a mobile device or computer screen.
There’s a huge opportunity gap between 2D and 3D virtual events, and Metaverse platforms can increase engagement, foster connection, and keep audiences engaged throughout the event. Virtual event platforms use networking, gamification, polling, social integration, chat, and other technologies to facilitate interaction and engagement. Organizations across all industries can use a virtual events platform in a variety of ways, including conferences, summits, exhibitions, trade shows, product launches, networking events, training, internal communications, and appearances.
Hybrid, digital twins and other scenarios
The hybrid event model offers a perfect blend of physical and digital events and is quickly becoming a popular solution, with content being streamed via the platform to a real screen at the organization’s event. Alternatively, a live feed can be connected remotely from an in-person audience to push content to a real-time or catch-up audience. There is tremendous potential to run immersive VR events alongside traditional live events to expand audience reach.
Hybrid events can take many forms: for example, a conference seminar, workshop or other meeting that combines a live event with a virtual online element, with flexible broadcasting built into the platform. This could mean building a digital twin of corporate or educational headquarters, where organizations can host in-person events with content streamed to a real screen in front of a physical audience via the technology platform. Alternatively, you can vice versa use a live feed from an in-person audience to push content to an augmented real-time or catch-up audience connecting remotely.
In addition to the Flox Metaverse virtual events platform, the platform can integrate in-person event organization and event design services, and even create an in-platform CRM for clients who require it.
Considerations when choosing a virtual event platform
When considering a virtual event platform, there are a few important features and functions to consider:
- Flexibility for full customization: This means a fully bespoke event can be created with unique embedded branding. With customized virtual spaces, businesses can create the features that serve their specific audiences. It is important that attendees at an event have a unique, personalized and immersive experience that reflects the organization’s culture and values.
- Easy access and ability to customize the view: Participants can easily switch between perspectives – personalized avatar, incognito or personal view, which can also be 2D or 3D and can be easily accessed at home or at work via a phone or computer screen. For full global participation, events should be conducted in multiple languages.
- Linked Social Technology: Key features include connecting agnostic data directly to your CRM and social sharing integrations. An AI-driven, intuitive platform helps attendees find the right people, create impromptu breakouts, schedule one-on-ones, and message others instantly.
- Integrated tools for active participation: For example moderated Q&As, free movement in virtual space, integrated live polls and instant answers.
- High-quality dubbing and subtitles: Built-in translation software (available in multiple languages) can provide near-instantaneously synchronized commentary and instant subtitle translation of content.
- Embedded Security: The platform should offer top-notch data protection with built-in security and be accredited by Cyber Essentials.
- Integrated carbon measurement: An integrated carbon footprint tracker allows companies to understand the impact saved through virtual participation.
- ROI Measurement: It’s important to choose a platform that can integrate engagement and behavioral data directly into the CRM system, providing measurable ROI for customer experience, sales, and HR teams.
Measurement of event success
With tough economic times demanding a quick ROI on any technology investment, it’s more important than ever that a platform offers in-depth analytics on attendee engagement. This includes the ability to collect visitors’ behavioral data, logging information about what events or breakouts they attend, how long they stay in sessions, and who they interact with during their time on the platform. This should show exactly what they clicked and how they voted in online polls.
Once processed, this data provides ample opportunity for follow-up conversations, micro-events, and sharing of relevant content to engage prospects down the sales funnel and drive further action.
The benefits of flexibility and scalability that Metaverse events offer mean that up to 100,000 attendees can attend virtually, access content as they please, and have the option to return to the virtual event at a later date. Now it’s time to explore how running effective 3D virtual events can provide an alternative to, or improve on, face-to-face events and focus on creating remarkable experiences and content that truly engage audiences.
Jaie Genadt is co-founder of the virtual event platform Metaverse Flox.