Every business felt the effects of COVID-19 in nearly every aspect of one’s life. The virus had spread to over a hundred nations by March 2019, prompting the WHO to call it a worldwide pandemic. Unimaginable lockdowns, stringent travel limits, and “social separation” measures quickly followed.
Many formerly booming sectors have had significant revenue losses and growth contractions as a result of the epidemic. Several businesses in a variety of industries have already filed for bankruptcy or had to make substantial layoffs.
Uncertainty still looms, and it’s unclear when things will return to normal. However, the harsh fact is that vast public meetings are unlikely in the immediate future, leaving people in a state of uncertainty!
The fast spread of COVID-19 influences the live events sector because of the worldwide pandemic’s difficulties, live and physical events have been entirely suspended. Feasts, conferences, social gatherings, live displays, trade show events, and expos are all becoming a pipe dream.
Since the increasing levels, the event sector has experienced several problems, ranging from event cancellation to surviving on minimal revenue. The issue became significantly worse when the global lockdown restrictions were enforced. Physical events, as well as hybrid events, were discontinued. However, this hasn’t prevented the event business from coming up with new, inventive, and intelligent concepts to keep the wheel of fortune turning. The event business devised more clever and new approaches to drive successful events through digital media.
While the pandemic has significantly impacted conventional event planning firms’ profits, the number of “virtual event” entrepreneurs entering the market has steadily increased. Virtex is an example of one of these businesses. Virtex is a “virtual event platform” giving customers access to many services, including virtual rooms that guests may enter and exit.
Event professionals have geared up to battle with the outrage of the covid-19 pandemic 2nd wave. Here is what our co-founder has to say about his plans to deal with this challenging situation:
Abhinav Jain, Co-Founder Almond Virtex:
As the world started to normalize in early 2021, we were planning to pedal back to hybrid events along with virtual events. But, the rooted second wave of the pandemic has changed our perspective entirely, and trust me when I say that the response from businesses was incredible. Amid the confusion, companies want to launch their goods and reach their target audiences, and organizations wish to have Exhibitions, conferences, and town halls. And it was then that we proposed the most practical option for keeping the ball rolling: an all-in-one virtual event platform.
Organizations and companies have accepted virtual events all around the world. The notion was first met with skepticism by businesses. However, with time, they mastered the potential of virtual events and could stage large-scale events alongside us with ease. Virtual is unquestionably the event industry’s future because of its limitless potential, increased reach, cost-effectiveness, and high return on investment.
At Almond Virtex, we provide our clients with every possible solution to ensure that they do not miss the essence of physical events. We’ve structured our planning for the following years, and we’re ready to take on any challenge. Even when things return to normal in this game-changing age, one thing is sure, the virtual component will not fade from view. Mr. Abhinav Jain, Co-founder of the Almond Solution virtual event platform, adds, “We take steps every day and aim to develop a platform that fulfills all of the criteria of customers despite this turmoil.”
Here are the few common questions asked by event experts during these challenging times:
- What measure did the event industry adopt during this pandemic crisis?
- Will virtual events become mainstream in times to come?
- What innovative steps the event industry is accepting to keep the events going?
- What will be the path the experiential industry adopts?
Innovation, creativity, and technological advancements are the answers to all of these questions. The shift in dynamics in 2020 has resulted in a rapid drop in physical event company revenues. With time, the event business did not stand still and turned to provide a viable answer to companies and industries worldwide. A virtual event isn’t a novel notion. However, the emergence of a worldwide epidemic triggered an increase in virtual events. Last year, there was an exponential increase in the percentage of virtual events, and it shows no signs of slowing down anytime soon.
Many companies have used virtual event solutions to avoid losing money during the pandemic’s pause and generate money. Virtual event platforms proved handy for many people when the world came to a halt and imposed lockdown.
Every day, virtual event platforms improve to provide the most excellent possible solutions to brands and organizations. To offer real-life event experiences to participants, virtual platforms have been embedded with the spirit of live physical events, from networking to engagement tools. Gamification features have been added to virtual event platforms to increase enthusiasm and participation, keeping participants engaged throughout. Tech professionals created various creative concepts, including social walls, picture booths, and leaderboard challenges, to break up the monotony of extended virtual meetings.
With the second wave of COVID-19, the event industry is ready to fight back and provide more creative solutions to the globe that can be enjoyed straight from the comfort of one’s own home while maintaining the highest level of security.