Creating great experiences with metaverse virtual events

With the explosion of digital devices into networks and remote working, creating exceptional digital experiences has become table stakes for communication, collaboration and global business success. For this reason, metaverse virtual events are fast becoming the latest essential for the AV business toolkit, marking an end to the limited options of static 2D virtual events or unsustainable physical events.

There is already a huge demand for virtual events across all industries, with market research company GVR predicting that the value of the global virtual events market will grow from $114bn in 2021 to $618bn by 2030.

Demand is equally high from organisations and attendees. While business leaders are tasked to do more with the same or less budget, 3D virtual events offer a key vehicle to increase audience diversity and reach, and promote better connection and creativity for today’s digital businesses – at 85% of the cost of a physical event and supporting their environmental, social and governance objectives. And for attendees, it’s fast becoming an expectation to have a digital option for joining an event.

Any organisation that puts on a live event or experience wants the connection and collaboration that comes with social interaction, but also the digital sharing, recording and analysis their organisation needs. As organisations start to explore the models, the required skills and the applications for metaverse 3D virtual events, it’s important for digital leaders to understand how to utilise this technology to its full potential.

From 2-D to 3-D – the power of metaverse virtual events
An events game changer, the world of metaverse virtual events is an intelligent, integrated, and intuitive 3D space for social experiences that create connections in virtual and hybrid events and experiences. Flox’s powerful, easy-to-use and immersive platform allows participants to set up their own avatar and access a virtual 3D event experience. Information can be easily experienced, captured and shared for boundless collaboration, in limitless languages. Through a personalised avatar, incognito or personal view – which can be 2D or 3D – the event is easily accessed through a mobile device or computer screen.

There is a gaping chasm of capabilities between 2D and 3D virtual events, and metaverse platforms can boost engagement, encourage networking and retain audience interest throughout the event. Virtual events platforms utilise networking, gamification, polling, social integration, chat and other technologies to facilitate interaction and engagement. Organisations in all sectors can utilise a virtual events platform in various ways, including conferences, summits, exhibitions, trade shows, product launches, networking events, training, internal communications and performances.

Hybrid, digital twins and other scenarios
Offering a perfect blend of physical and digital, the hybrid event model is rapidly becoming a popular solution, where content is delivered through the platform to a real screen at the organisation’s event. Alternatively, a live feed from an in-person audience can connect remotely to relay content to a real-time or catch-up audience. There’s huge potential to run immersive VR events alongside traditional live events to widen audience reach.

Hybrid events can take many forms: for instance, a conference seminar, workshop or other meeting that combines a live in-person event with a virtual online element, with flexible broadcasting baked into the platform. This might mean building a digital twin of corporate or educational HQs, where organisations can host in-person events with content delivered through the technology platform to a real screen, in front of an embodied audience. Or alternatively, the reverse, using a live feed from an in-person audience to relay content to an expanded real-time or catch-up audience connecting remotely.

In addition to the Flox virtual events metaverse platform, the platform can bolt on in-person event organisation and event design services, and can even create an in-platform CRM for clients that require it.

Considerations when choosing a virtual event platform
There are some key features and functionality to be aware of when considering a virtual events platform:

• Flexibility to be fully customised: This means that a fully bespoke event can be created, with unique embedded branding. With bespoke virtual spaces, organisations can create the functions that serve their specific audiences. It’s important that visitors to an event get a unique, customised and immersive experience that reflects the organisation’s culture and values.
• Easy access and ability to adjust view: Attendees can easily switch between perspectives – personalised avatar, incognito or personal view, which can also be 2D or 3D, and easily accessed at home or work through a phone or computer screen. For full global participation, events should be delivered in multiple languages.
• Joined-up social technology: Key functionality includes connecting agnostic data direct to your CRM and social sharing integrations. An AI-driven intuitive platform helps participants find the right people, create spontaneous breakouts, schedule one-on-ones and message others instantly.
• Integrated tools for active participation: For instance, moderated Q&As, free movement in the virtual space, integrated live polls and immediate responses.
• High-quality dubbing and subtitles: Integrated translation software (available in multi-languages) can provide an almost instantaneous dubbed commentary and immediate subtitled translation of content.
• Embedded security: The platform should have best-in-class privacy with security built in and be Cyber Essentials accredited.
• Integrated carbon measurement: A built-in carbon footprint tracker allows organisations to understand the impact saving by virtual attendance.
• ROI measurement: It’s important to select a platform that can integrate engagement and behavioural data straight into the CRM system, providing measurable ROI for customer experience, sales and HR teams.

Measuring event success
With the challenging economic times requiring rapid ROI on any tech investment, it’s more important than ever that a platform offers granular analytics on participant engagement. This includes being able to capture visitors’ behavioural data, logging information on which events or breakouts they engage with, how long they stay in sessions, and who they interact with during their time on the platform. This should be able to show exactly what they clicked, and how they voted in online polls.

Once crunched, this data provides ample opportunity for follow-up discussions, micro events and the sharing of relevant content to capture prospects in the sales funnel and drive further action.

The benefits of flexibility and scalability offered by metaverse events mean that it’s possible for up to 100,000 participants to join virtually, accessing content at their convenience and with the option to return to the virtual event at a later date. Now is the time to explore how hosting effective 3-D virtual events can offer an alternative to or enhance in-person events and focus on creating remarkable experiences and content that truly engages audiences.

Jaie Genadt is co-founder of metaverse virtual events platform Flox.