Cost Saving – The Virtual Conference Network Plans to help weather the perfect storm
The Virtual Conference Network has introduced new plans for conference organisers to create and stage virtual, hybrid, semi-live and in person events. The plans reflect the downturn in business and the reduction in revenue experienced by PCOs without sacrificing features and functionality and will enable them to continue to deliver quality events but at a significantly reduced cost with the option of scaling up volume as business increases.
The events industry is caught in the eye of the perfect storm that has seen the number of events reduce dramatically, revenue diminish, and employment impacted. In mid-2020 hopes were for a return to normal by the end of the year but as the year went on the prospect of normality receded into the future.
Reports from the industry indicate that the Jobkeeper Program helped businesses to sustain a presence but with the cessation of the subsidy a quarter of businesses could close within months with still no visibility on when international borders will open, and regulations ease. Couple this with a deafening silence from the Federal Government on any specific assistance packages and the future is uncertain for many businesses. Recently the author spoke with an international airline pilot employed by an Australian carrier and was told that he had been stood down for 3 years. All signs point to a bumpy ride for some time to come.
In difficult times costs are the first thing to be reduced, however, no business wants to lay off staff who have built relationships with clients and possess skills and knowledge vital to the business’ survival and recovery raising the question ‘what other costs can be reduced?’