Startups are small companies that are just starting, hence the name. This brings in a lot of challenges that the managers or people in charge have to face. Since it’s small and new, the resource pool is limited, so there are restrictions on a lot of processes, thus limiting what the team can do to boost sales or investment. A hybrid event can be a lot of work but caters to people far away and near, so it might be a good idea for startups to host one. However, it also entails many risks that could lead the event downward.
A set of pros which are for hybrid events for startups:
Better publicity: The number of attendees that would be able to attend the event would be maximized to a great extent, as hosting the event on a hybrid event platform would bring viewers from far and wide and locals who would get to see what the brand or the company is all about. This is essential for a startup company as they probably would not have as many customers or investors initially; therefore, it helps them set the ball rolling.
Better investment: Since the resource pool is small, there is not much a startup can do; therefore, when they host an event on a hybrid conference platform, they can reach out to high-profile clients easily and effectively. This is a very good thing because it leads these high-profile clients to invest in the company and sponsor further events, which would be very helpful for a startup company.
The effective organization: Finding physical space as a startup company can be tricky, expensive, and time-consuming. This is why hosting a hybrid would help. When an event is to parts, online and offline, the number of people gets divided, reducing the number of physical attendees. Since the number of physical attendees would be less, little space is needed to set up a booth or exhibit. The amount of congestion and crowding is reduced, making the event safer. Attendees in both settings get to attend and experience the event without missing out on anything major.
Something different: There are various ways to spice up a hybrid event. Thanks to technology, Hybrid Event platforms allow us to incorporate live streaming and several types of seminars simultaneously, thus restoring efficiency. Since attendees can switch between different sessions, both online and offline attendees can participate in so many other presentations, thus helping them become familiar with what exactly the startup does and its brand image.
Networking: It can be a task when it comes to networking when a company is just starting since there is already so much on the plate. However, in a hybrid setup, gathering data becomes faster and more efficient. Understanding what gets their attention and receiving feedback also becomes easier and helps startups understand their demographic.
And here are a few cons that go against a hybrid, even for a startup:
- Twice the effort: Sure, a hybrid event is a very good way to gain exposure, especially for startups; however, it is also twice the effort. The team would have to deliver to two sets of audiences, an online one and an offline one. They would have to do this simultaneously and effectively, ensuring quality on both ends, thus adding pressure.
- Convincing sponsors: while a hybrid event would expose the brand to various sponsors, convincing them that they are getting enough exposure on a hybrid conference platform can be tricky. Convincing them that the value of the event would be beneficial to their brand and thus will get quality exposure on the platform could be one of the toughest challenges.
- Additional requirements: As mentioned earlier, hosting a hybrid event is twice the effort; akin to that, and it’s also twice the amount of resources needed. Now the amount of resources available to a startup is relatively low, as we all know; therefore, a lot of time, effort, and energy will be needed to set it up well and in a way where every resource is used to its maximum advantage without wastage. Attendees on both ends need to be considered. Technical aspects need to be kept smooth and efficient to avoid glitches and give virtual event platform attendees a good experience. Similarly, a good setup and decorations need to be done to provide a good experience to physical attendees.
- Internet connectivity: We know the team is not entirely responsible for a bad internet connection. However, for the event to go smoothly so that the attendees build a good brand image for the startup, it is necessary to make sure that those connectivity levels are strong. Because of these connectivity issues, virtual attendees would not be able to get the complete experience. They might leave disheartened, which could be detrimental to a starting brand.
- Tricky changes: As mentioned before, hybrid events are very effective but can also demand and come with a dozen challenges that might take time and effort to get used to. This is why it is essential to give time to the team so that they can get acquainted and understand how to handle the hybrid event smoothly.
Conclusion
Even though there may be negatives to a virtual event for startups, there are ways to get around them. Inputting an amount of effort and research into understanding the platform and its working might sound tedious, but it’s a great way to push the startup ahead. A good tech-savvy team would have to be made to facilitate the technical aspect, which might seem expensive, but it’s a good investment or small price to pay to increase the amount of exposure the startup receives. Moreover, if one chooses the right platform, like Dreamcast, things will get easier and smoother.
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