Posts Tagged ‘video conference costs’

How much do Hybrid Events really Cost?

June 15th, 2017

Virtual conferences are, as everyone knows, pretty inexpensive. How about hybrid events? Being a combination of a virtual component and a live in-person event, hybrid-event costs are higher. Let’s go deeper into this topic, in order to get a clearer idea of hybrid-events advantage.

Hybrid events are on the increase, as they can be really amazing and value-adding for any organization. According to Midori Connoly, CEO of Pulse Staging and Events, “the hybrid format has become very popular; it is almost becoming the standard” (source: http://www.meetingstoday.com/ArticleDetails/tabid/136/RegionID/0/ArticleID/14438/Default.aspx). The secret behind this success is “the video component that is where it is really going to take off”.

So, let’s go hybrid and let’s enhance the video component. But how much does it cost?

First, put in mind that it is necessary to hire two staffs to give a hybrid event.The first takes care of the “real” event; the latter manages its virtual component. Luckily, it is possible to save money by using products like R-HUB`s TurboMeeting (http://www.rhubcom.com) that do not need a dedicated staff as being self-installing and self-configuring. A TurboMeeting server is also very compact, light and inexpensive because of R-HUB`s flat license policy that allows users to add a virtually unlimited number of participants to any conference.

Second, you need to have the equipment to register your event. It is not necessary to buy microphones and cams; you can hire the necessary equipment from a specialized service. Better idea is to outsource the whole task to a video producer. In that way, you won’t get crazy by handling complicated and difficult to set tools. The producer will bring in its staff and equipment and assure you a professional outcome without much pain.

Third, don’t underestimate timing.The real conference must be carefully prepared. This means that you’ll have technicians and directors around even the day before the great event, as they need to test lights, cameras and equipment. Maybe, it could be necessary to take even a rehearsal. Same on the virtual side: you must be sure that the event that was prepared with so much care will be really broadcast with the top-video quality. This usually takes some time for the necessary tests and adjustments.

Fourth, wonder whether your hybrid event is really profitable. You will quickly discover that the budget for a hybrid event could overcome 30.000$. Are you willing to draw out all that money? And, if the answer is positive, what is the break-even point that makes your hybrid event profitable? In some few cases, a classical event without its virtual component could be ever a better solution, especially if participants have to pay their tickets. So, think twice.

In conclusion, hybrid events can be a great way to add value to your organization or your products in many situations, but not always. So, it is important to plan costs and have an idea of the expected benefits in advance, in order to avoid bitter disappointments.

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