Adapting Live Experiences to a New Virtual Reality

When CO-OP Financial Services made the difficult decision on March 6 to postpone our annual THINK 20 conference, we decided to commit to hosting a virtual event on May 7. We knew that we couldn’t simply shift the content, speakers and presentations we had planned to an online presentation. Our intent was to produce something unlike anything the industry had seen before.

As one of the credit union industry’s leading conferences, THINK delivers innovative business strategies and insights that speak to industry challenges from the world’s most esteemed brands and leaders, as well as an unparalleled in-person event experience. Credit union leaders come to THINK to connect with their peers, engage with speakers and content, and walk away armed with tools and resources to spur them into action. Our challenge with making THINK a virtual event was to infuse the human experience, an imperative in the midst of the social distancing brought on by the pandemic, into an engaging online experience.

With less than nine weeks to pull it off – and while managing the impacts of COVID-19 – our team rallied around a clear objective of producing an exceptional attendee experience no matter the medium. With that clarity of purpose, our team focused on enabling human-to-human learning and engagement. That singular KPI drove every decision we made over the next two months – from the platform we chose to the speakers, content, and surprise and delight moments.

The first-ever THINK Virtual event attracted nearly 2,800 credit union registrants, and according to post-event surveys, 98% of respondents said they looked forward to future virtual events from CO-OP. We came away with an invaluable playbook on hosting a human-centric virtual event – one that will serve our company and its clients for many years to come.

Credit unions are likely to be faced with similar challenges as the country moves through the various stages of COVID-19 recovery and transformation. Although business closures and stay-at-home guidelines are beginning to loosen, lingering concerns around exposure to the virus may make virtual engagement more appropriate than in-person meetings for the remainder of the year.

What are some best practices for pivoting to a virtual environment without losing the sense of human connection? Here are nine I recommend.

1. Be hyper-relevant. It would have been much easier for CO-OP to deliver the THINK agenda we’d already prepared than the completely retooled agenda we hosted on May 7. But, with data and insights changing by the day, content created in a pre-pandemic world was, in many ways, no longer relevant. Putting forth the extra effort to explore topics related to big questions credit unions were pondering proved essential to making our virtual event valuable enough to keep attendees engaged over a six-hour span. Being deeply empathetic to what members are facing in their financial lives, coupled with up-to-the-minute information and insights, will ensure the solutions you put in front of members actually solve their current problems.

2. Mix it up. Another great way to engage an audience across several hours is to put forward diverse content. THINK 20 Virtual included a mix of live streamed keynotes, interactive panels and audience questions, video montages and interactive polling. Understanding how a member wants to engage with you, and being flexible in the way you deliver, on their terms, will deepen their relationship and trust.

3. Surprise and delight. One thing we’ve learned over our years of hosting THINK is that a sure way to engage an audience is to exceed their expectations. We prepared a series of pop-up prizes that kept our attendees watching for their names and we surprised each of our registered attendees with a $15 Door Dash gift card to make sure they knew their lunch was on us. Thinking through even the smallest unexpected gestures of kindness in a remote environment brings both joy and ultimately member loyalty.

4. Partner smartly. A positive outcome of the pandemic has been an acceleration in the advancement of digital communication and live streaming platforms. Choose an interactive platform partner with remote experience, a proven track record of performance and an appreciation for both client and end-user security. It makes all the difference knowing your members will be as well taken care of as your credit union.

5. Prepare the audience for the experience. It was very important to communicate early about what our attendees would need in terms of technical capabilities, such as network speeds, optimal browsers and operating systems. We also made sure to provide simple tips that would improve their live streaming experience. This included things like disconnecting from a VPN and testing their internet speeds well in advance of our live date. Anticipating what members may need from you to ingest your solutions in a remote environment, so they can take full advantage of your products, will smooth the outcome and help them to feel cared for. Design for the experience and communicate early and often.

6. Play to team strengths in a new environment. It’s important, particularly when live streaming, to have speakers who are comfortable making the transition from a live audience to a video camera. Not all speakers are naturals when it comes to delivering content in that environment. We brought some of our speakers in-studio, standing up to present in order to have the best possible outcome. It’s the same with our teams – many of us have had to shift in-person roles to digital service. Identifying team capabilities and exploring ways to have those teams shine is our collective opportunity to enhance the experience for both staff and members.

7. Over-prepare. A major part of THINK Virtual’s success was the commitment from our technical partners, internal team and presenters to anticipating challenges and practicing … and then practicing again. Our tendency to over-prepare came in exceptionally handy, as did the reassurance of having back-up plans for our back-up plans. The team baked several rehearsal dates into our pre-event timeline, one of which was a complete, six-hour run-through of the entire event from soup to nuts the week before we took the event live. I call this “the belt and suspenders” of planning. Because our world and method of service is evolving so quickly, anticipating what could go wrong and iterating on your plans will more accurately ensure you will deliver with excellence.

8. Create a feedback loop. Just as we have with each in-person THINK event of the past, our Experience team surveyed attendees to learn precisely where we hit and where we missed the mark. It’s a strategy we kept in place as we moved to a virtual environment. We’ve already learned a great deal from our post-event survey that we’ll apply to future virtual conferences. How do you create a practice of listening to your members, synthesizing their insights and activating change throughout your credit union on a regular basis? It’s powerful how quickly it can change your perspective on what you thought was the right direction.

9. Build in breaks – we are human after all! Speaking of six hours … we knew it would be difficult to hold the attention of even our most eager attendees over that length of time. To give people time to stretch their backs, answer some emails and get a snack, we built a series of breaks into the format. Human-centered design can inform the intersection of digital and human experience, maximizing the best of what credit unions are known for – service. How can you apply your greatest strength in a new manner of delivery? Be human first!

Nothing beats the in-person experience. When done right, it’s sensory and electric. We are fully engaged in the sights, sounds and excitement of a community of people all coming together to achieve something great. Yet, for a period of time, virtual engagement, when done right, can also be a magical alternative … and it’s what we’ve got right now.

By staying focused on the people at the other end of the technology, your next virtual board meeting, financial wellness webinar or digital member interaction can still surprise and delight. As an added bonus, you’ll walk away with your own virtual delivery playbook for a future that’s sure to include many more opportunities for digital interaction.

Samantha Paxson is Chief Experience Officer for CO-OP Financial Services in Rancho Cucamonga, Calif.