What are the benefits of virtual trade shows?
- You can save more resources
- Borderless reach
- Exposure for your business
- Better interaction
- Feature more products and services
Restrictions posed by the COVID-19 virus have prevented the events industry from being able to hold full-scale live events like trade shows. Since staging events in an exhibition space may not be feasible at the moment, businesses have been turning towards online alternatives. The benefits of virtual trade shows are simply too attractive for them not to consider online platforms. Continue reading to learn more.
You Can Save More Resources
A lot of planning and budgeting goes into traditional trade shows. Participants who are planning to set up exhibits or booths would have to be considering a wide range of costs. Without meticulous planning, you could blow out a budget that’s been allocated for the exhibiting space, logistics, installation, dismantling, warehousing, shipping, promotions, exhibit design, and many more.
Fortunately, there is no need to worry about too many expenses in a virtual trade show. You will surely save up on resources that you would’ve otherwise been expended. In fact, you only need to think about three things: the exhibitor free listing, virtual layout and design, and the promotions.
Some virtual trade shows may even offer discounts for exhibitors, so you may want to take advantage of this too. Since attendance is mostly free for delegates or visitors, you’ll also benefit from the presence of many attendees.
Physical trade shows are usually held in a confined exhibition space for a limited time period — some would run as short as three days only. With this format, physical events may not necessarily be accessible to everyone within the duration. They may be hampered by practical factors such as distance due to travel restrictions.
Virtual trade shows, on the other hand, are far more accessible to a large group of attendees. In fact, opportunities become borderless. People can attend from different places. Your event will not only attract local attendees or potential exhibitors or sponsors investors — but you’ll also have the opportunity to interact with participants from around the globe.
One main driver behind this is that the attendees would only have to click on a link where they can access the online trade show. Online trade show platforms also allow your attendees to access the show via different types of devices.
Exposure For Your Business
In a virtual trade show, you will have the opportunity to showcase alongside with other organizations. Competitors may be present but it gives you the edge to do better than them.
Being on the same stage as other companies can also help small or medium enterprises the opportunity to get more or better exposure. A list of exhibitors is sometimes provided to attendees prior to the event. This way, pre-event promotion starts. You may be able to plan for the B2B ahead of time and strategize on your pitch to the potential business targets. You will also see who visits your booths which you may contact to offer your products or services to.
Some attendees may not necessarily prefer the large crowds and cacophony that are characteristics of a typical trade show. This is because they’re not really able to get a good grasp of what exhibitors are trying to tell them.
If distractions may be present in traditional trade shows, this isn’t really the case for virtual events. Although virtual trade shows lack the face-to-face element, it does put an emphasis on organization and interaction.
Your attendees won’t be distracted by crowds who are trying to see what you’re presenting or demonstrating. As they move around the virtual space, they only need to click on your booth that is already on display. With the right audiovisual materials, you can easily transform a regular trade show into a livelier and more dynamic virtual version.
Feature More Products And Services
Another great thing about virtual trade shows is that you have the freedom to feature as many products and services that you have in your business’ arsenal. If you’re not new to the trade booth scene, you may have experienced practical limitations when it comes to transporting your equipment to the venue.
Granted, your booth’s audience may not really be able to try out the product in the flesh, but they can learn more about a range of your other services. This gives them a better grasp of what your company is all about — especially if you’re a new one.
If you’ve been in the industry for a long time, then introducing new offerings in trade shows can further solidify your current relationship with your clients. It also enables you to attract more potential leads that are hidden amongst the crowd.
As you have read, there are many benefits of virtual trade shows. You’ll not only be able to save up more on physical set-ups, but you’ll also attract a diverse group of attendees from various places.
Virtual trade shows may not exactly replace live and physical exhibition shows altogether. However, they do provide different businesses and organizations with a more convenient method of marketing their products and services — until such time that holding physical events may be allowed by IATF through the approvals of local governments.