Virtual Event Platforms & Providers in Comparison

Virtual Event Platform Definition: What is Virtual Event Software?

Virtual event platforms, often referred to as event platforms, are essentially Event Management Systems (EMS). They focus on planning and executing events in the digital or virtual space rather than real-world events. These platforms make it possible to organize various event formats such as conferences, workshops, webinars, but also trade fairs or concerts. The environments of these platforms can be customized to varying degrees, depending on the software, to create an appealing user interface for participants. The functions of such applications are diverse and designed for events of different sizes. Event organizers can easily host virtual conferences with several thousand participants using some solutions, including the integration of interactivity through features such as group chats or interactive sessions. On the other hand, some platforms are specifically tailored to event formats like workshops, focusing on user-friendliness and efficient integration of event management tools.

Virtual Event Platforms vs. Video Conferencing Tools The main differences between virtual event platforms and video conferencing tools are that the former are usually full-fledged event management solutions and facilitate the creation of interactive gatherings in one or several (individually designed) virtual rooms. Here, large groups can often interact relatively freely.

In contrast, video conferencing tools are primarily used to conduct meetings with few people. Normally, only the participating people are visualized and not virtual rooms. Planning functions are only available to a very limited extent.

In many cases, however, event platforms and video conferencing tools work harmoniously together. Digital platforms for event planning often have integrations with video conferencing programs. These can then be used at a virtual event for smaller presentations, special networking purposes, or customer support.

Why Should Companies Use a Virtual Platform for Events?

Planning and executing events - be it larger conferences, trade fairs, or smaller in-house events - usually involve significant effort. Numerous employees handle the research, booking, and equipment of the location, organize guest speakers, other program points as well as the care of the corresponding persons - and finally, the event has to be somewhat laboriously evaluated. These are, of course, merely some of the crucial points of the highly complex event management. Many of these efforts can be significantly reduced within the context of virtual events. Here, modern platforms for virtual events offer high flexibility and features like polls, immersive trade show stands, and interactive chat functions. This means that less work and manpower is needed to organize and ultimately host such events. The location is simply created in a virtual space, guest speakers can be added remotely, eliminating the need for supervision, and the evaluation is carried out entirely data-based. Virtual events are efficient all round and - this is of course a significant argument - are even often the preferred choice. The Corona pandemic has really driven this type of event. More and more companies or industries had to host their annual events digitally. High acceptance was actually shown. Both organizers and guests became aware of the numerous advantages. This makes virtual events highly relevant even beyond the pandemic. This development is made even more interesting by the fact that events in virtual space are far from being perfected and have not yet arrived in many industries. There is enormous potential for differentiation. Now is the ideal time to test new formats and find out what the perfect virtual event can look like. With innovations - not only in terms of technical implementation, but also in design or look-and-feel as well as in content - companies get a good opportunity to outperform their competitors and secure important market shares. It's important to note that comprehensive programming skills are not required to use many of these innovative features. Companies can achieve all this and other benefits by using the right platform for virtual events. It is therefore much more than a significant efficiency booster - it may also be a crucial factor in long-term competitiveness.*

How Does a Digital Event Platform Work?

Virtual event platforms usually come with a variety of features that determine how they function. However, there are always three essential tools or processes when it comes to planning and executing events in the digital space:

Project management tools, various virtual arenas, and interaction opportunities.

Event Management Planning and executing a virtual conference, meeting, or other event are not automatic. Ideally, virtual event platforms should support organizers with specific tools for related management tasks.

It has long been standard to manage events with special event management software. These features can also provide a great relief at virtual events.

They help (ideally) with entire planning work: from specific task management and individual workflows to achieve certain goals, through to registration organization and informing all parties involved, up to marketing and advertising.

Virtual Rooms with Interaction Opportunities A central feature of a virtual event platform is the ability to create various virtual rooms. Here, responsible individuals get the opportunity to position different program points and intentions of the event as well as to promote specific types of audience participation.

Furthermore, it's of course these areas that allow a digital event to be arranged as similar to a real one as possible: At a real event, visitors can move freely. They get the chance to orientate themselves in a lobby, attend a welcome speech in a large hall, and finally take part in the program points that are most important to them in smaller conference rooms. This is how it should also work virtually.

The following types of areas can typically be generated:

• Hall with stage: Area for addressing the entire event audience - for instance, for keynotes, opening ceremonies, or entertainment.

• Smaller Sessions: Interactive rooms where moderators can invite several participants to breakout sessions, panel discussions, workshops, or Q&As.

• Product Presentations: Exhibition halls for setting up virtual stands for sales teams, sponsors, or partner companies.

• Networking Places: Meeting rooms for small numbers of participants and building partnerships, exchanging business information or initiating deals.

Interaction Opportunities A platform that allows creating individual event areas supports massively in conveying a reality-like event environment in the digital space. But that alone is not enough: Only the audience's participation or interaction turns an event into a "real" event.

A virtual event platform can offer a variety of interaction opportunities that allow and even encourage participants to exchange ideas, network, and seek direct conversation.

Examples of these types of functions are:

• Video Q&As: For example, moderators can bring several speakers and participants on the screen for a video exchange in smaller sessions.

• Video Networking: Event participants can meet and network with other event visitors in small group sessions or via private one-on-one video chat.

• Direct Messages: Event participants can find other visitors via the platform, communicate with them, and thus visit certain points of the event together or in direct contact.

• Surveys and Polls: Event organizers can obtain feedback from the participants before, during, and after the event.

What Are the Advantages and Disadvantages of Event Platforms?

Many significant advantages of virtual event platforms have already been emphasized. The following are the key benefits summarized compactly.

• Reach: Participation in a virtual event can be much more flexible than in a real one. No travel is required - everything works remotely. This leads to a potentially very high reach. Additionally, events in the virtual space are now very well accepted in many industries.

• Cost: Many typical event costs, such as expenses for renting spaces, catering, or security personnel, do not apply to virtual events.

• Sustainability: A virtual event is sustainable partly because the travel emissions of participants are completely eliminated and the possibility exists to make the corresponding content available over the long term.

• Analysis: Virtual events allow carrying out analyses and evaluations using numerous digital data or KPIs. This makes measuring success and optimizing for the future highly effective.

As always with software solutions, there are also some disadvantages with virtual event software. However, these relate less to the platforms themselves but more to the characteristics of the virtual events produced by them.

• Limited Networking: Virtual event platforms can offer a variety of networking features and other interaction functions. Nevertheless, they can't replace the spontaneous and real exchange between people.

• Lack of Emotions: Experiences and emotions are usually essential for successful events. These primarily arise through communal actions and interactions. The prerequisites for achieving such sustainable feelings can also be created with virtual event software. However, it's tough to recreate the dramaturgy of a real event with it. There is always a critical barrier due to physical separation.

How Do You Choose the Right Platform for Virtual Events?

Each virtual event platform works a bit differently. Some are designed more for smaller press events, while others enable hosting global trade fairs.

Regardless of whether you're looking for a tool for an international conference or a smaller meeting among staff and partner companies: Just because these programs always represent a substantial cost factor, interested parties should definitely research a solution that perfectly suits their needs. The primary aspects to consider are:

User-Friendliness One of the most important qualities that responsible individuals should pay attention to is the user-friendliness of the platform: not only for their own team (when it comes to event management), but also for the participants. If there are any problems at any point, this can significantly diminish the success of the entire event.

They should evaluate the software selection in terms of usability and check how the individual team members get along with it. This can only be done through thorough testing. Is the registration process for guests straightforward, can they navigate the event easily, and does it allow employees to use all platform features intuitively or at least with small training effort?

One should opt for a tool that does not unnecessarily obstruct guests and allows the team a smooth course of the event. The solution should also possibly integrate with the existing CRM and specific event management tools.

Scalability Good scalability is essential, especially for larger events. Because particularly with such events, the actual number of participants can vary greatly. The provider needs to have appropriate resources available for all eventualities.

If the respective solution cannot handle many visitors flexibly, it may limit the user experience. This would significantly diminish the success of the event.

It should be clear early on what event sizes a virtual event platform is needed for. If a large number of people is the focus, one should look for a virtual event platform that has the necessary capacities.

Customization Options One of the best ways to make a virtual event stand out from others is to create an individual, emotional, and intense experience for guests. To achieve this, one should select a tool that offers numerous flexible design options.

Make sure that there are many options for virtual areas and their design. You should look for virtual event software that allows you to design the look and feel of the digital rooms with images, colors, animations, videos, audio content, etc., to match the respective occasion and as close as possible to a real event in the relevant field.

This way, a virtual event can be turned from an ordinary and unimaginative digital meeting into a convincing, engagement-promoting event that remains positively in the minds of visitors for a long time.

Pricing Virtual events come in all shapes and sizes. The same applies to the event technology used to implement them. The prices for virtual event platforms can vary greatly depending on capacities. Therefore, interested parties need to have a good idea of their budget when they start looking.

Of course, research should always be conducted within financial means. If the platform used to organize virtual events costs too much, the price may exceed the benefit of the resulting events. This would, of course, be the worst case. The ROI must always be right!

User Reviews Introducing new technology is always a risk - especially if you have no touchpoints with it. To avoid a misjudgment, those responsible should inform themselves before buying not only on the website of the respective provider but also through user reviews.

User reviews are a valuable source of facts. Here you can get the best overview of the real functional strength and usability of a virtual event tool. The corresponding comments come from people who actually use a product. For such authentic reviews, it's best to look outside the provider's website: Here, there is no marketing blabber or organized experience reports from top customers.

What Does an Event Platform for Virtual Events Cost?

The prices for virtual event platforms start at around 50 Euros per month. Such tools are usually designed for smaller events. The price range towards the top is quite large. Programs that offer capacities for many large events can quickly cost 5,000 Euros and more.

The pricing model of online event software often depends centrally on the number of participants you expect at an event. In other words: if you are organizing events for many guests, the costs rise. Also, the integrated features play heavily into costs. The more individual, the more automated, and with how many additional services events are to be held, the deeper companies have to reach into their pockets. This is a typical demand-dependent pricing model, as is found in many software solutions.

Additional services beyond the mere program for virtual events are sensible in most cases. With them, you can quite reliably create truly outstanding events. The most common additional services include:

• Creation of virtual event venue layouts.
• Employee training.
• Design of landing pages and other online presences.

Those interested should expect considerable surcharges here. However, these are especially worthwhile if no experienced digital event planners and/or designers are available in-house.