In this season opener we discuss some hot topics of the events industry in an era of ever-changing rules. We discuss: the rise and “fall” of virtual events, navigating post-pandemic networking events, and the current impact of rising costs on event production. But first, we kick it off with the story of Hopin, the virtual event darling that climbed to a billion dollar valuation during the pandemic…and where it is now.

Key Topics and Takeaways

0:04:11 - Exploring the Future of Virtual Events: Is virtual really dead? And what happened to Hopin?!

• We look at the evolving nature of virtual events post-pandemic and the challenges faced by companies like Hopin in adapting to these changes.
• Hopin, a virtual event platform that gained significant attention and investment during the pandemic, has undergone a major change by selling its events and sessions products to RingCentral, a video conferencing platform.
• The decline in virtual events and Hopin's changes may lead some to believe that virtual events are dying. However, we argue that virtual events are returning to pre-pandemic levels, rather than completely disappearing.

0:12:41 - Awkward in-Person Socializing: Learning how to “people” after COVID-19 

• The challenges of people relearning how to socialize and behave in public settings can affect attendance at events and the overall event experience. Organizers must adapt to these changing dynamics to ensure successful events. But exactly what responsibility do event producers have here?
• The social awkwardness is a "nice problem to have" compared to the more extreme and darker side of this problem: increased outbursts, violence, and disruptive behavior in various settings, including on planes. Which can impact the event and travel industry.

0:21:39 - Inflation’s Impact on Event Production

• Inflation is significantly impacting the event production industry, leading to rising costs in various areas, including room rates, labor costs, food, and services. The increase in costs is also affecting the quality of services and products provided by venues and suppliers.
• Corporate budget cuts and changes in spending priorities are making it challenging for event organizers to rely on companies paying for employee attendance or sponsorship budgets, impacting ticket sales and event revenue.
• Hybrid events are becoming increasingly unfeasible due to their high costs, and organizers are finding it difficult to balance expenses, particularly for quality hybrid experiences.
• Creativity and intentional planning are more important than ever in overcoming budget constraints and delivering memorable events despite rising inflation and budget changes.

Want to dive deeper? Take our free 30 minute training, Community Event Mastery. Access it here.

Additional Resources

News article: Hopin, the struggling virtual conference unicorn, sells events and engagement units to RingCentral

Next episode: Reimagining Digital Communities with Tara McMullin

This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy