Market Chanakya Founder Sumit K. Singh talks about the benefits and the future of hybrid events in the post-COVID era.
According to Sumit Kumar Singh, the world has been living in the wake of the COVID-19 pandemic for over two and a half years now, a period that has seen the events industry, amongst others, come under huge pressure. With COVID-19 restrictions in India both on indoor and outdoor capacities and a population less willing to be in the physical presence of others, the event industry is now adapting to a form of event delivery that’s been around for a few years but will now define the future of events as we know it. This is the idea of hybrid events. Given the steady rise of hybrid events over the last decade, they have appeared to be growing in popularity.
Sumit Kumar added that there are many different types of hybrid events happening in India that his team is supporting through the Market Chanakya platform, from meetings to conferences, lectures, and presentations. Any event can be “hybridized.” It’s merely a case of levering technology to the point where your event can be consumed by both physical and virtual audiences at the same time and at the same level of quality.
Speaking to the media, Sumit Kumar Singh said, “You must understand the difference between virtual and hybrid events.” There is a very distinct difference between virtual and hybrid events. A virtual event is 100% digitized, apart from the physical presence of those running it. Other than that, there are no physical attendees present at the event, and it is delivered via an online platform.
Sumit Kumar Singh added, “Given the fluid nature of infection rates and public restrictions, hybrid events in 2022 and beyond offer event planners a viable option to continue organising conferences, concerts, expos, festivals, award ceremonies, and more. There are many benefits to doing hybrid events. Behind all the great events lies the hand of a marvellous company filled with professional event managers. Market Chanakya is one of the leaders in India in this segment. As for celebrity event management and planning, it is certainly not an easy game, but an assured one if you are in touch with the right team.
Talking about the financial benefits of doing a hybrid event Sumit Kumar Singh said that hybrid events are more profitable because there are no limits to the number of virtual attendees at a hybrid event. This also provides our clients with access to a whole new market. Due to the relative ease of attending a hybrid event, the opportunity to learn and share knowledge becomes accessible for people around the world who would not have attended if the event was just physical.
According to Sumit K. Singh, Founder of Market Chanakya Group, “For the digital industry, data is the new oil.” With greater participation from more global attendees, the scope for obtaining data for learning purposes becomes very rich. Since many people will be logging on through online platforms, you can access data on which subjects attract the most visitors, the duration of their stay, and the attendee’s country of origin, to name a few. You can even use global attendance statistics to identify new markets that might be interested in your content.
Given the steady rise of hybrid events over the last decade, they have appeared to be growing in popularity. The impact of COVID-19 has served as a catalyst for hybrid events to take centre stage as a potential lifeline during an extremely challenging time for the event industry.