Virtual what?

Virtual trade show service providers have a serious problem - not knowing what to name their baby. Virtual Tradeshow, Online Event, Online Tradeshow, Virtual Expo, Virtual Environment, Virtual Show. Lately, event-management companies have joined the party, so we also have Virtual Experiential Services launched through Virtual Experience platforms.

Earlier at least we used to know the top player for robust webcasts, but now even they have started doing virtual shows, thus hurting their unique positioning built over the years. I was talking to a veteran publisher from the industry last week, and my worst fears were confirmed. The market of trade show organizers is confused with all this new terminology. To all that add the word 'social' to taste, and now you will have the perfect recipe for a virtual experiential social networking environment and lead generation event solution.

When we at iTradeFair.com first began calling our offering a virtual trade show, we created visuals of trade show booths and used the trade show metaphor in our messaging to help the market make the connection and leap over the learning curve. What has however, been happening lately, is that virtual trade show providers have taken that metaphor quite literally - straining to recreate the visual effects of a real convention center. These virtual experiences, as they are being labeled are mind-bogglingly slow to load on the screen and painfully two-dimensional to navigate with ease. Special efforts to un-level the playing field by offering 'real estate' at the portal entrance to the highest bidders is an example of the tactile-event mindset limiting the immense growth-potential of the virtual trade show (for want of a better name). Wayfinding in such environments is a nightmare; prompting trade show veterans to go ballistic every time the phrase 'virtual trade show' is mentioned to describe these venues. Organizers of such venues gushing about the virtual lounges and the chat functionality may hurt their own credibility - it's a text chatroom, for crying out loud. Alright, throw in a video-chat. It's still a chatroom. Why not keep it simple? I am sure that such environments please the branding agencies, but what about the attendee?

Did anyone look at the abandon-rates of these experiential environments? It is not simply who visited your online venue that matters - it is also how many would have liked to visit that is of consequence here.

In the ultimate analysis your typical virtual trade show site is just an engaging yet structured way of presenting information while collecting audience data for follow-up. If only we figure out how to keep it simple, we will see acceptance rates increase in the millions as against the present mere thousands that put aside their work to take part in these online events. Unfortunately, the way these sites are structured today are quite unwelcoming - designed to discourage the bulk of the potential traffic. We at iTradeFair.com are guilty of the same issue even though we are constantly trying to simplify the navigation. We do get very positive comments about the simplicity and elegance of our itradefairs, but we have a lot more work to do in that direction. Hopefully, we will also establish a simple name by which to refer to our virtual trade shows, a name that does not confuse the potential users. Or like some of our customers prefer, we might simply resign ourselves to calling it an itradefair.

Attendees Highly Value Trade Shows - What About Absentees?

I happened to read the analysis of the results of a survey by Tradeshow Week magazine, in a blog post titled 'New Study: Attendees Highly Value Trade Shows'. The blog post points out that, "Michael Hughes, Tradeshow Week Vice President of Research, pointed out several years ago that it was higher attendance at shows in 2003 that then led to increased exhibitor numbers and booth space rental coming out of the last recession. His latest report predicts that history is likely to repeat itself: When the economy improves, more attendees will go to shows, and then more exhibitors will return." Incidentally, I have known Michael Hughes since my first email to him about 11 years ago to show him a demo of our online trade show; I deeply respect him and I even quote him from time to time.

Seeing the survey makes me wonder if there is a way to survey those who do not attend tactile trade shows. The absentees. Those left behind. Those who do not exhibit in tactile trade shows. I also think that the trade show industry, in gazing into its crystal ball also needs to factor in (a) tools popularized by the Internet becoming part of everyday business usage, and (b) the changing habits of marketers and buyers who seem to be able to switch seamlessly between the online and tactile worlds. Having reframed it thus, let us now revisit the reasons listed in the blog post referenced earlier, on why attendees value trade shows highly.

"Here’s why attendees value trade shows, even during a recession" says the blog post, proceeding to list several very timeless reasons, quoting Michael Hughes, on why people do trade shows ... to which I have taken the liberty of adding in parenthesis some taglines about common web-based tools that come to mind immediately, not only for attendees, but also for absentees... those who can't afford to enjoy the tactile experience of trade shows for whatever reason.

• The ability to keep up-to-date with changing industry trends. (Google Alerts)
• See new products, equipment, technology and services (Online video demonstrations and lead-generation webinars using inexpensive tools like GoToWebinar and Skype)
• See or participate in product demonstrations (GoToWebinar, Skype, Zoho Meetings, Twitter, BlogTour, Online Trade Fairs, Netbriefing's Proclaim)
• See products first reviewed online (Industry Blogs)
• Maintain and build relationships, network (LinkedIn, Ning, Meetup, Other Social Media)
• Meet exhibitors’ senior management and staff (Online Trade Fairs)
• Make purchases (Online Trade Fairs and Virtual Booths)
• Acquire new ideas (Online Trade Fairs, Twitter, Industry Blogs)
• Education and training (Webcasts and eLearning Tools)
• Save money, with the efficiency of seeing many suppliers in one place (Searchable Online Exhibit Halls, Online Business Matchmakers, Online Vendor Directories)
• Compare competing products and company teams (Online Research, Online Trade Fairs, Product Comparison Charts available online)
• Access competitive intelligence (LinkedIn, FirstRain, Twitter Search Feeds, Google Alerts)
• Maintain a presence – “see and be seen” (A plethora of Internet tools - too many to begin naming here)

There is no question that the tactile trade shows will never lose their place (they might morph into new shapes but will always be around) in the world of business - people like to do business with people they like, and that is what tactile trade shows help them find out. Tactile trade shows allow attendees to make up their mind whether they like the exhibitors' team or vice versa. It helps participants answer questions such as "Is this a team we would like to deal with?" (What about those who could not make it in person? What about exhibitors who could not exhibit and attendees who could not attend? We will address that in a moment)

I must hasten to add that a tactile trade show is not really always necessary for a buyer to like a seller and generate business. I personally know of exhibitors who have won contracts worth half a million dollars in a standalone virtual trade fair that we delivered recently for a major corporation. I want business leaders, and their marketers and buyers - to know that virtual trade fairs do generate real business. Even if the tactile trade show industry does not have a way to meet the needs of attendees and exhibitors until they physically walk in through the doors of the convention center, the itradefair (used as a noun here) offers tremendous value for such absentees - both potential attendees and potential exhibitors - right at their fingertips.

Every Virtual Show Has a Raison d'être - Know Yours?

This article is primarily meant for the event organizer. From an event organizer's point of view, the nice thing about a virtual fair is that it is open to interpretation. One person's virtual trade show might be another's exhibitor-listing or an interactive floor-plan, or vendor directory or just a webcast. It does not really matter. There is no right or wrong way to do it.

What matters is whether the format chosen helps further the goals of the event organizer. What matters is to keep it simple and not let your technology vendor make it into a massive project requiring a major investment of resources, ignoring the fact that your virtual show is simply a means to an end.

Your virtual show is to let your exhibitors and attendees know that you care about them after the tactile event is over. Your virtual show is to hand-hold the virtual participants until they have a tactile experience with the exhibitors' products and people. Your virtual show is to let them navigate the exhibit hall in whatever sequence they like. Your virtual show means giving your virtual participants the freedom to use their time wisely. Your virtual show means allowing the parent to attend the soccer game. Your virtual show means allowing the marketing professional to stay in touch with industry peers while caring for his dying father. Your virtual show is a considerate thing to do. It shows that the event organizer cares about the participant both onsite and online. Your virtual show might also be about lead-gathering. Your virtual show might also be about demonstrating ROI to the financial planning department.

Try some corporate introspection to know what your virtual show is really about. Ask yourself the question, "Why are we doing it?" Then tell your technology provider or event planner what you want. Not the other way around. Stay in control of your virtual show, and you stay in control of your brand. Otherwise you risk dilution of your brand. The kind of virtual show at which you display your logo sends a message to the world. Make sure it sends the right message.