Whenever companies need to host big corporate events for business or marketing reasons, they will hire event companies that are specialized in event planning to assist them to rent a venue and setup the events on behalf. This can range from the usual annual dinner and dance party to AGM (Annual General Meeting) or marketing convention depending on the client’s agenda.
Before the coronavirus pandemic situation, such business events are quite common in the corporate world especially towards the last quarter of the year when the business owners have the budget to host such physical events. But with the restriction of government policy on this type of events and international travel.
It is no surprising that many companies are adapting to engage a new form of hybrid event to host their corporate events which at the same time comply to the government COVID-19 safety measures.
In short, a Hybrid event is an event that consist of components of a Live, physical event but with the aid of virtual settings that can be live stream and broadcast in real time. This means that the invited participants have the options to participate in the events online without the need to attend the event personally. Especially to those who are not staying in the same country where the event is hosted.
A Hybrid event that consists of both live and online audiences helps to create a new type of event experience but at the same time also promote engagement and participation to the event’s agenda. While this may seem to be challenging to most event planners, a video studio house like Spring Forest Studio with the experience and appropriate technology will be able handle the situation in terms of event management , technical functionality and other related issues during the hybrid event.
There are actually many benefits in hosting the Hybrid event as compared to a normal corporate event such as saving money in terms of travel costs, rental of venues for the event, accommodation fees to cater the foreign guest for the event and other miscellaneous cost that are factor in for the event. Not to mention the fact Hybrid events allow the host company to gather valuable marketing data for networking purpose with the use of online surveys, feedback and other available tools for the participants during the event.
When it comes to the actual costing of hosting a Hybrid event, it is still surprising for most people to know that it is actually cheaper to host such event than paying for actual live event. Depending on the client’s requirement, the cost to hire a video studio event company may easily range from an average of a few thousand dollars to tens of thousands depending on the event’s agenda and the client’s requirement. But these amounts as mentioned above are only the current marketing rate available for hybrid live streaming events.
However, it is still cheaper compared to an actual live corporate event as most if not all will easily cost the client of more than tens of thousands or even a few hundred thousand if the event is conducted on a large scale and hosted on prime locations in the country.
To know more on how much you will be expected to pay for Hybrid events, give us a call and Spring Forest Studio will be more than happy to assist you on any queries on hosting Hybrid events in Singapore.
