February 10, 2022
How Much Does a Virtual Event Cost?
BY Nick Forster
February 10th, 2022
Virtual events have fast become a favoured way of running events. And it is no surprise, from expanded reach to audience analytics to sustainability, they boast a whole arsenal of benefits. But how much does it cost to produce a virtual event?
Naturally, this is one of the first questions we get asked. So we’re going to walk you through the key components of a virtual event and how these impact the price. We always like to keep things simple here at London Filmed and have three virtual event packages, which cater to most eventualities, starting from £2,950 (ex VAT). But if you want to find out exactly what your event will cost, get in touch for a same-day, no-obligation quote, we’d love to discuss your event with you.
Where to start
You can pretty much make any event virtual, so the first decision to make is what type of event you are organising. Second, or joint first really, is your event budget. Together, these dictate all the other factors that impact the overall cost.
It is also a good idea to lock down other key strategic questions at this stage. For instance, what is your event objective? And where will your event be hosted? Having this information really helps to shape the event and its features and will help prioritise the allocation of your budget.
Key Price Influencers:
1. Duration of the Event
As we said, we keep pricing simple and transparent with our range of virtual event packages, which are based on a short day (2 hours), half-day, or full-day event duration. Our packages always include the project build, a dedicated project manager, speaker briefings and tech rehearsals, single streaming, and a live stream engineer.
2. Project Timelines
The ideal time for virtual event planning, building, and testing is four weeks, but we know sometimes events need to happen on a quicker turnaround time. This can be done, but expect to pay a little more for a shorter lead time.
3. Number of Speakers
The more speakers you have, the more tech briefings need to be factored in. And this is not an area to scrimp on. You can read more about the importance of tech briefings here [link]. For simplicity, we include these all-important briefings into our virtual event packages. If you do need additional sessions, they can be added on a per-person basis.
4. Digital Asset Design
Custom assets really make an event shine and make your virtual event a seamless extension of your brand. The amount and type of digital assets you need to create can be a big influencer of price. We offer an optional add-on to our event packages for digital asset creation, which relate to the duration of your event, as this usually determines how many assets are needed. Our static bespoke graphics are all designed by our team of graphic designers and include graphical overlays for panels, speaker presentations, and holding cards, which we use in between sessions while we transition between speakers. These start at £350 (ex. VAT). If you’re looking to invest more in production, motion graphics and animation are a great way to elevate your brand further and make your event more dynamic. We have a team of illustrators, animators, and motion designers on hand who can help you realise your vision. Please get in touch with us so we can provide you with a bespoke quote if this is something you are interested in.
Depending on the type of event you are hosting, you might want to include a mix of live and pre-recorded sessions in your virtual event. Pre-recorded content can be a great addition to the event schedule, especially if you have a hero piece of content that you want to be communicated perfectly, or if you want your attendees to explore your event platform and discover content as they go. Expect to pay around £250 (ex. VAT) per online pre-recorded session, including recording and editing.
6. Tech Rehearsals
We run tech rehearsals with all your key stakeholders as part of our step-by-step process. This is to ensure the event runs seamlessly and everyone is comfortable with the tech and the process. For more complex and/or highly orchestrated events, we might suggest a full dress rehearsal with all speakers. This will be advised at the time of briefing and will be added to a bespoke package price.
7. Event Platform
The cheapest way of hosting your event is to host it on your own website, but to elevate the look, feel and add engagement and analytics features, an event platform is really the way to go.
There are a lot of event platforms on the market, each with its own USPs and contractual stipulations, and of course, price points. Depending on what features, engagement tools, and customisation you are looking for – think back to your event objectives for this – certain event platforms will be more suitable for your event. Several platforms work on annual licenses as opposed to one-off contracts too, so that’s a good way to limit the pool!
We work with many of the industry’s best event platforms and can offer unbiased advice as to which platform is best suited for your unique requirements and objectives. This saves you the time and hassle of researching and booking demos with platforms only to find they are unsuitable.
Virtual events have proven to be a more economical, sustainable, and efficient way to grow and connect with your audience over the last 18-months. It’s clear that they will continue to be a key comms channel for forward-thinking event planners who will be looking for new and innovative ways to plan and produce online events.
While there are a number of variables that can influence price, we like to keep pricing simple and transparent so we work off our package pricing, with itemised extras that can be added on. When we discuss your event brief, we’ll walk you through each of these elements and prepare a same-day quote specific to your event requirements, so there’s no ambiguity over what you are paying for.
If you’re planning for a virtual event or having to switch your hybrid/in-person event to virtual, please get in touch with our team.