Why virtual events feel cheap

Because they are — at least in their current form.

In the Information Age, information is the cheapest commodity. Knowledge, expertise, instruction, education, advice — call it what you will. It’s everywhere. It’s accessible instantly. It’s not scarce whatsoever. And that’s the issue: people want to pay for what is scarce.

So what is scarce today? Connection with a community. Prestige. Access to experiences and people which do more than talk AT you.

These are the very same things we lose once an event moves online. The biggest problem with virtual events isn’t a technological one but a psychological one: that which seems valuable has been lost, and that which seems available everywhere and for free is all that remains.

For virtual events to thrive, the organizers first need to understand what people actually pay for — what they ALWAYS paid for. They can’t and won’t succeed selling a back catalog of content. That’s like competing with the entire Internet. It’s a losing battle, and in the attendee’s mind, a library of information (even delivered live) should be free or at least very cheap.

It’s incumbent on the organizers and the speakers to add back what’s been lost and create virtual events that establish deeper connection, a more premium experience, and greater access to the people attending and talking.

People don’t pay for the content. They pay for the experience, the feeling in the room, the ability to say they were there. They pay for the serendipity of connecting with new and important contacts which transform them, and the certainty that they’ll see old friends. They pay for the ability to leave their routines and think and feel differently awhile.

Nobody pays for a bunch of talks or webinars. They can watch the world’s best in 2-D anytime they choose. That’s not enough. That’s a ubiquitous commodity. The source of the commodity doesn’t matter. It’s a simple collection of knowledge.

Most virtual events are transactional: pay for a ticket and here’s a catalog of talks you can watch, live or recorded. But transactions are forgettable, and entirely focused on completing the transaction. The experience itself isn’t the point. So our job is to avoid creating a transactional event altogether and build something transformational instead.

Transactional events can help people. But transformational events can change them.

Refuse to settle.

Stop selling back catalogs. Start creating connection.

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