Emergence of Virtual Tradeshows

Emergence of virtual tradeshows
In a previous post, I spoke about the emergence of virtual tradeshows. Since then, I have seen promotions  for many more of these events.  There is definitely a trend or interest to test this method of providing online content for education, branding, or lead generation purposes. I previously mentioned a  company called Unisfair that provides a platform for delivering virtual tradeshows. Another company that has come to my attention is InXpo. I came across a technology focused event called the Data Protection Dilemma, produced by Ziff Davis, which is now available on demand. One of the strengths of a virtual tradeshow is that content can remain on demand and be a  source of further lead generation (after the live event). If you visit InXpo's website, you can see some of the customers they are working with other than Ziff Davis,  including TIBCO and Wall Street Journal.  Ziff Davis has been using this channel extensively, visit virtualtradeshowslive.com, to see their lineup of technology focused events (and past shows on demand). 

Upcoming virtual expo for B2B Marketers
There is an upcoming show of interest for B2B Marketers on March 5, 2008 called B2B-2.0 Expo: What's New in Finding+Keeping Customers. This show focuses on solutions for B2B marketing in the Web 2.0 world. They have a great lineup of speakers, check out the website for full details on the program and presenters. The organizer is MarketingProfs, and there are several sponsors, including some of the marketing "thought leadership" companies I have spoken about in the past, including MarketingExperiments, Eloqua, intouch, and Marketo. It looks like a perfect opportunity to learn more about marketing with Web 2.0 , research new marketing solution providers, and experience a virtual tradeshow environment.

More resources on virtual events

No Travel Required of this Kind of Show, my previous post on virtual tradeshows.

Virtual events and measuring ROI keys (from BtoBonline)

Virtual events' success grows (from BtoBonline)

Also please feel free to comment on your experience on attending, sponsoring, or creating content for a Virtual Tradeshow. Is this a viable channel for B2B Marketers to reach and engage with customers and new prospects? How does this compare with Second Life virtual events? Does this meet the demands of reaching a global market or small-medium size businesses where travel is more difficult?

Update:  Please check out some related posts by other bloggers:

The Value of Tradeshows

Virtual Business Conferences

Comments

[Michael Dundas]

I think the idea of virtual trade shows is great. It allows you to not have to add the extra time and expenses involved with traveling to the show etc. However, there are downsides.

In my office and most others I have worked or consulted for, it is not reasonable to expect that should an emergency occur (and often "emergency" is very loosely defined), you will not be pulled in. If while you are interacting with your virtual show your key customer has a problem that might sacrifice the account and you have information to assist you will be interrupted and pulled in. Although this is also possible when someone is remote, it is much more difficult. This added layer of difficulty causes the people dealing with the situation to be creative and think outside the box. They try harder to solve the problem before contacting you. If you are in the other room, or sitting at home, they don't have to even try. It is critical and just easier to contact you.

This brings me to my next point. The obvious argument to the situation above is that it is virtual so in many cases you can review it all later. Besides not having the interaction, the bigger problem with later in many cases is that later never actually comes. Sure you can postpone it to deal with a current hot issue, but this will inevitably be followed by another one and another one. The natural response to this is well that is just a time management issue. I agree it is a time management issue sort of. It is based on the assumption you have complete control of your time and the freedom to prioritize as you want to. In reality this is rarely if ever the case. Usually everyone has some ability to do these things with their work, but there are limits imposed by all companies regardless of your position. In most cases by being off site at the actual trade show you get to complete it, or at least have a better chance of doing so. After all, you don't get your money or the time back, so the cost to the company for interrupting you is greater.

On a personal side, I like and prefer the people the interaction. I get much more out of a face to face scenario and it allows me to process the information and understand it better. I have also made a few great professional contacts that would not be as solid as they are if it was virtual. I work with e-mail and instant messaging for my entire day and have used these services for years now but I still prefer face to face. You get so much more information from face to face. Body language, tone of voice, how something was said, what happened around the person when the fact was stated, their reaction to a response from the person beside them, etc. You just can't get this information in the same quality with video, and VoIP. I find it extremely useful in my line of work.

I like technology and I think the technology to do this has come along way and is quite amazing, but for me I don't think the experience will be the same as if I was actually present.

[Cece Salomon-Lee]

Virtual tradeshows are an extension of how organizations have been using online technology for B2B marketing. Whether its web conferencing, webcasting (disclosure: ON24 is a webcasting company) and now online shows/virtual tradeshows, the main objectives remain - how can I cost-effectively reach my target audiences while generating sales leads?

As with each technology, how does it fit into the larger marketing mix. In the case of virtual tradeshows, I see this as an "augment" of in-person events. To Michael's point, face-to-face is key for developing relationships and completing the task at hand. However, I disagree that a virtual show will be more interruptive than any other format.

The great part of a virtual show is being able to do research BEFORE you go to the live show and therefore maximize your time. And if you did attend the live show, the online show becomes a great resource POST show. It's not time management more than rethinking how to approach shows and be more effective.

@Mou – regarding your questions. Virtual tradeshows are different than Second Life. Each will have a different place with regard to set-up, entry into the solution and purposes. While I see Second Life more as “relationship building,” virtual tradeshows is definitely for B2B marketing.

And in the case of those who aren’t able to attend the show in –person, this is a great opportunity for SMB to 1) have a presence, 2) save costs and 3) generate sales leads. Business is increasingly global. Technology is enabling us to truly meet these global communication needs.

[Fred Yee]

Hi Mou,
I wrote about this in my blog, when we (www.activeconversion.com) participated in the last MarketingProfs virtual conference.
According to MarketingSherpa (not Profs), executives prefer webinars to real seminars. They attend an average of 1 per week, and say they prefer the convenience. I know I do. And our marketing at this has shown good ROI which is why we're back.
Anyway, more at my blog entry ((http://www.fredyee.com/?p=26 if anyone is interested.
Real trade shows won't go away, but expect them to change, like time shifting TV has changed television.
Cheers, Fred.

[Mou Mukherjee]

Thanks for all your comments. I think you have all brought light to some important challenges and opportunities with virtual event marketing.

I agree with the interruptions at your desk. This happened to me when I attended my last virtual trade show. With webinars, I can sometimes get away with not being disturbed for an hour…for any longer though it becomes difficult. “Out of sight, out of mind” naturally happens when you are out of the office, attending a physical event. This also depends on your working environment. Perhaps you have an office where you can shut the door, or work from home.

If the show highly relates you, you are more likely to make arrangements ahead of time, or thwart off “interrupters”. Also should you get disengaged (despite your best ninjic practices), you can go back and view the content later. Also, by having the content available online, you may find it via search (enough though you missed the live event).

Everything that you do in a virtual environment can be logged…I know in real events there is sometimes RFID. But online, you can see, how many people you interacted with, what they downloaded etc. This allows the marketer to score leads and possibly have much better intelligence than at a live event.

It will never be the same as face-to-face. But I think some of these environments such as Second Life, video-conferencing, and possibly virtual trade shows, do allow for interaction that may not have happened at all, and if the relationships and exchanges are meaningful, there is a possibility to meet in person later on. It is a natural extension of B2B Marketing, as Cece describes.

Also just like trade shows (even the most highly qualified, niche ones…don’t organizers say they are all exactly that!), lead nurturing is necessary. You may find some “hot leads”, but many of the leads will not be sales ready, and if you do not have a program or resources to manage that, you have the same problem you would have with any kind of lead generation. Face-to-face time with key decision makers is still the goal (in most B2B cases), a virtual event if it works, is just a step in that process.

For the attendees, virtual events might give them access to speakers, content, or education, they would not be able to get any other way. For example, I see a lot of marketing conferences with great content, and speakers…but I don’t have the time or budget. There might be a speaker that you have had your eye on, but never been able to hear present live.

Cece – that makes sense, most of the events I have seen taking place at Second Life, seem to be more relationship building, company branding. There is much more customization too, but along with that comes much more technical investment or expertise.

Fred – thanks for your comments too, and good luck at the virtual show tomorrow. I ironically am running a F2F seminar tomorrow, but I’m hoping to drop by the live event!

I think show organizers and sponsors will get better at finding ways to be creative with this environment (and possibly drive changes in the technology platform itself). Right now it seems, they are trying to copy a live event. Eventually, people might do away with the things that don’t work well virtually, and enhance on the things that do.

Thanks again for the comments, and contributing your thoughts and perspectives!