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Hi Michael,
Thanks very much for the explanation. You are right that we were talking different semantics on what is meant by replacement & its implication on engagement.
When I said replacement, I was referring to replacing "no F2F" with virtual. However, I do agree with you that in doing so the engagement that is generated is in addition to what would have been there (none- as they cannot make the IRL).
I think we are on the same page now.
(Btw, on a side note - I do think the extra category adds value. I think as a business you want to meet people [and prospective clients] F2F. So if you find out that you have a lot of people opting for scenario #2 above - given a chance to go virtual they would pick virtual even if they are within the IRL vicinity - that would definitely impact the answer to your two questions: Is Virtual Better Than in-Real-Life? & What is the True Value of Being Virtual?)
Regards,
Ned