Trade shows have always played an important role for businesses looking to showcase new products, stay current on industry trends, and meet other professionals in their field. As a tool for business development, trade shows are indispensable for generating leads, developing brand awareness, and networking. For many reasons, trade shows seemed an almost irreplaceable aspect of the business world.
That is, until now. “Virtual Trade Shows” are the online equivalent of an industry conference. These events mimic the look and feel of being at an event in person, by giving users an interactive virtual world to participate in. Some virtual conferences even provide attendees with an online avatar that can be navigated from booth to booth using the mouse and arrow keys on a keyboard, similar to a video game. The event organizers have the flexibility to “host” the conference in (presumably) any venue they see fit, giving participants the perception that they are in a traditional convention center, on the top floor of a swanky hotel, or perhaps even on the beach in Barbados. At each virtual booth, representatives from an organization communicate with attendees via video conference or chat rooms, run product demos, and share files with guests, all in real-time. At the conclusion of the event, a log of attendee information is sent to the booth sponsor, detailing participants’ activities, downloads, and most importantly, their contact information.
These virtual trade shows have increased in popularity dramatically in the last few years, and for good reason. With the economic downturn, corporations have seen travel and advertising budgets cut drastically. The total cost (in both time and money) of sending employees to a trade show is quite high, and a virtual event can make a great low-cost alternative. For similar reasons, virtual trade shows have a large appeal to small and medium size companies. Traditional trade shows, and especially high profile ones, have a very high barrier to entry. The costs of sponsoring and manning a booth at a leading industry trade show could easily run an organization tens of thousands of dollars. A booth at a virtual trade show generally costs only a few thousand, and admission for participants is usually free. Many companies have even begun to tout the environmental benefits of virtual events, stating the adverse affects of lengthy travel, keeping the lights on in large conference rooms, and waste reduction as reasons to consider a virtual event.
After taking a look at demos from a few of the companies (ie ON24 and GoExhibit), I must say I am very impressed. What really grabbed my attention first were the lengths that some of these companies had gone to in order to make the event seem realistic and “in-person”. The events were visually appealing, and made you feel as if you were at a bustling event, replete with the noises of busy crowds and visual representations of company representatives. Webcasts and presentations were hosted in a theatre-style environment, where presenters could take questions from the audience in real-time, and follow up with participants afterwards in chat rooms. Some of the most interesting features about company booths were the ability to upload documents, brochures, and contact information that booth-goers could review, and then download to take with them. There seemed to be a lot of value in having presentations and handouts available for immediate download, as well as sharing LinkedIn profiles in place of business cards.
There are some potential downsides as well. It appears at first glance that there is no real way to distinguish your booth from next, something that any trade show regular could tell you is a critical component in driving traffic to your booth. In most of the demos that I tried, booths tended to have a generic look and feel, the only differences appearing to be the company logo on the outside, and of course the materials being shared on the inside. I also feel that in a virtual environment, it may be difficult to qualify the attendees to an event as well. Whereas an organization might find the budget to send a handful of business development or sales representatives to an in-person event, virtual events might not have such strict standards, and be open to anyone with an internet connection. Booth owners could potentially find themselves spending a lot of time speaking with half-interested parties, missing out on the chance to talk to senior level attendees and sending their sales teams bad leads after the event. Finally, although it may seem like a small grievance, the absence of crowded auditoriums, keynote speakers, and even giveaway promotional items can make you leave the event feeling as if you have had a less tangible experience.
I doubt that these Virtual Events will ever fully replace traditional face to face events in the future, no matter how sophisticated they become. Although I believe these events can be very beneficial to vendors and participants alike, there is simply no substitute for the power of face to face communication. As one executive described to USA Today about his recent virtual trade show networking experience: “There were no virtual free drinks. There is some truth that you want people to be in close proximity.”
Have you been to any of these events? Let me know about your experience!
-RJ
