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🎤 Online Events: Validating Demand, Lead Magnets, Hybrid Events

by dru_riley

In this Trends.vc Report, we talk about how to validate demand, hybrid events, metaverse concerts, how to get early revenue and more.

💎 Why It Matters

Online events are borderless.

They are a cost-effective and scalable way to spread your message.

🔍 Problem

We want to connect, learn and be entertained without leaving home.

💡 Solution

Online events have lower friction.

Anyone with web access can join.

🏁 Players

Online Events

Online Event Tools

  • Zoom • Connect with video, audio, phone and chat
  • HeySummit • Build, grow and monetize online and hybrid events
  • Livestorm • Simple meeting and webinar platform
  • Gather • Build 2D online conference spaces
  • Podia • Sell workshops, classes and webinars
  • StreamYard • Live streaming and recording studio in your browser
  • BigMarker • Platform for webinars, virtual and hybrid events

🔮 Predictions

  • People will join remote group fitness classes to boost accountability and track progress.
  • Online events will send craft kits to offer hands-on experience.
  • Artists will hold live concerts in the metaverse to break physical barriers. They will perform for tens of millions of fans at once.

☁️ Opportunities

  • Presell your online event to validate demand and get early revenue.
  • IRE21 is a virtual event for journalists that offers a 25% discount for early tickets.
  • SHARP is an event for authors, readers and publishers that offers a 33% discount for early booking.
  • ATOMICON is a hybrid sales and marketing event for small businesses. It offers early tickets with a 55% discount.
  • Turn your online event sessions into on-demand videos. This is free marketing material.
  • Use free online events as lead magnets to build an email list of qualified prospects.

🏔️ Risks

  • Connectivity Issues • Internet disruptions, slow speeds and lag spikes can lead to missed content, poor peer interaction and frustration.
  • Coordination Risk • Failure to manage groups can lead to poor attendee experience.
  • Reputation Risk • Misbehavior such as Zoom Bombing can lead to negative experiences and a lack of interest in future events.

🔑 Key Lessons

  • Online events have higher margins. Lower costs and wider reach make it easier to make a profit.
  • Hybrid events are a “two-sided medal”. Balancing in-person and online aspects of the same event requires 2x much effort.
  • Have a backup plan. You should be able to switch platforms when having technical issues.

🔥 Hot Takes

  • Online events with hundreds of attendees make it hard for each member to share value. This makes it more appealing to watch the recording on-demand than attending a live event.
  • We’ll see online events built for specific AR/VR headsets. Connect is a virtual event on virtual, mixed and augmented realities. You need a Quest device to attend the event.
  • Open startups will host public board meetings with past achievements and future plans. Gumroad shares its board meetings on YouTube.

😠 Haters

“It is hard to engage remote audiences. They can get distracted by their friends, family and pets.”
Host the event over a few days. Break down content into shorter portions. Add interactive activities such as polls and Q\&As. Change the pace of the event with videos and quick discussions. This can help attendees stay focused and to not get bored.

“In-person events have higher-fidelity interactions than online events.”
True. In-person events also have more friction since everyone needs to attend in person. Online events are more inclusive while in-person events have higher fidelity.

“Hybrid events have the best of both worlds.”
Hybrid events are complex. You need to solve logistics, catering and security problems for in-person attendees. As well as connectivity, engagement and moderation issues for online attendees.

“Online events are exhausting. Zoom fatigue is real.”
Short breaks, chit-chatting and letting attendees turn off video can help to lower online fatigue.

“What if I want to go to two sessions that happen at the same time because of tracks?”
This is a tradeoff for having a focused experience. Most online events share recordings that you can watch later.

🔗 Links

  1. Building a Report on How to Grow and Monetize Online Events • The Tweet behind this report.
  2. 35 Ice Breaker Games for Virtual and Hybrid Events • Ways to lighten the mood at the start of an event.
  3. Hybrid Events Are Essential • Learn the 10 benefits of hybrid events.

📁 Related Reports

  • Audience-First Products • Validate products, build distribution and stay accountable
  • Gamification • Boost engagement with missions and rewards
  • Presales • Validate demand before investing time and money into building new products
  • Influencer Marketing • Borrow audiences’ attention to build awareness and find customers
  • Freemium • Lower your customer acquisition costs with a free version of your product

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dru_riley's avatardru_riley
on September 19, 2023
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