Stop Making Excuses: 7 Reasons You Should Embrace Hybrid Events

December 28, 2021

The event industry has become a poster child for change. Before COVID-19, in-person events were the rule. Then, virtual events emerged to adjust for the world’s new normal of staying home and lessening contact with the outside world. Now, in-person events are slowly coming back … somewhat.

 

Now that event organizers have seen virtual, they can’t unsee it. Having reaped the benefits of virtual events, like cost savings, many organizations want the best of both the in-person and virtual worlds. To give you a better understanding of this shift, here are seven compelling reasons why hybrid events are a smart decision in 2022.

  1. Reach

A hybrid event allows you to reach a larger audience without increasing your budget commensurately. Think of the virtual component of hybrid events as a way for new audiences to sample your content without a huge time commitment. 

  1. In-person Attendance 

You get to showcase your legacy, in-person event component to virtual audiences, create FOMO among them, and convert them to in-person participants in the future. 

  1. Ticketing 

Hybrid events present your attendees with a range of ticket and price options for participation considering virtual can be priced lower than in-person tickets. Pro move: develop a pricing strategy to include different access levels that virtual and in-person attendees can choose from for your event. 

  1. Segmentation 

This event format gives you the opportunity to create even more curated experiences for your various audiences. For example, your in-person component might have an exclusive section providing access to C-level executives, while the virtual component lends itself to more inclusive engagement to connect individuals across the globe.

  1. Risk Management

Travel restrictions, vaccination levels, and venue capacities are moving in the right direction, but they haven't returned to a pre-pandemic level. By hosting a hybrid event you can transform your complete event into a virtual one should the in-person component become unviable.

  1. Eco-friendly 

Want to start reducing the carbon footprint of your in-person events? Choose the hybrid way of events and cut down on waste and emissions generated from your event. 

  1. ROI 

With hybrid events, you can activate multiple potential sales and marketing channels (in-person and virtual) simultaneously thereby creating more revenue opportunities for yourself. 
 

Want to reach a global audience and keep them engaged? Reimagine audience experience with Hubilo. 

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.   
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