Virtual Trade Shows are an integral part of the events industry. Do you know why? Well, one of the major reasons is that virtual trade shows offer immense scope to build professional relationships. It helps participants to make the right connections, organizers to reach global audiences, and exhibitors to expand their brand presence.
Market reports bear witness to the immense business potential of trade shows. The global trade show market captured the largest revenue share of 30% in 2020 and is growing rapidly over the forecast period of 2021- 2028.
Let’s deep dive into the benefits of virtual trade shows and how organizers can make the most out of trade shows.
First thing first, Virtual Trade Shows are online events hosted on a digital platform. In simpler terms, Virtual Trade Shows function like traditional trade shows; transforming exhibit halls, job fairs, conferences, etc into a virtual environment.
It drives online sales on a multi-functional platform by connecting exhibitors and buyers from all over the world.
Apart from monetary benefits, there are many reasons for choosing virtual trade shows. Here are the top five benefits of hosting a Virtual Trade Show
88% of the exhibitors participate in virtual trade shows to increase the brand awareness of the company (Data Source: Spingo.com). To enhance brand visibility exhibitors can create customized booths, add company logos, welcome videos, relevant content, and more.
Furthermore, exhibitors can host virtual trade shows for a longer duration and any number of days as the organizer wishes. What does this indicate? It simply means that the brand is exposed to the audience for a longer duration.
Virtual trade shows help in tapping into the global audience. What’s the benefit of reaching out to a diverse audience? You can showcase your product to new customers.
In physical trade shows you could only reach people from a certain geographical region, a limited amount of marketplace was available. Virtual trade shows unlock the global market for you. So, if your product didn’t have much demand in your region, it might find an audience in some other part of the world.
For exhibitors, lead generation is one of the top priorities. Experts say, 72% of exhibitors participate in the virtual trade show to generate potential leads. (Data Source: Spingo.com)
Lead Nurturing – With Virtual Trade Shows, exhibitors are offered an ideal lead nurturing platform that has immersive features and a rich virtual environment. Exhibitors can use features such as gamification, networking lounge, activity leaderboard, product gallery, etc to increase engagement and generate quality leads.
Virtual Trade Shows offers pre-registrations with the help of customized landing pages. The audience can fill in the details and register for the event. This helps the exhibitors in acquiring the lead status of the registered participants and connect with them.
Pre-Qualified Leads – Virtual Trade Shows offers pre-registrations with the help of customized landing pages. The audience can fill in the details and register for the event. This helps the exhibitors in acquiring the lead status of the registered participants and connect with them. Further, with access to basic information of the attendees, you can leverage the opportunity and build a valuable relationships with the attendee
Virtual trade shows enable free-flowing of interactions between the attendees and the exhibitors in real-time. 68% of marketers (Data Source: Markletic.com) say that one-on-one meetings at large virtual events help to improve audience satisfaction.
Features such as networking lounge, live chat tools, polls, virtual conference, etc help in delivering interactive sessions and render immersive experiences to the audience.
In today’s world data is everything! According to the survey from Deloitte, 49% of respondents say that data analytics is one of the biggest factors in decision making. The analytics dashboard lets you track booth performances, identify attendee hotspots, and offers valuable data such as the engagement rate, leads generated, demographics of the attendees, and more.
Apart from this, you can also track individual user journeys, of how any attendee navigated through your event, time spent in each virtual area, etc. Furthermore, measure your KPI’s and success of the show, with a post-event report.
To ensure a large number of audiences attend your virtual trade show, create a sense of curiosity and make them interested in the event. This is possible by implementing promotional strategies such as posting about your event on various social media platforms, sending email campaigns, etc.
With real-time data analytics feature, you can track the audience behavior in-depth. This will help you in planning and implementing the engagement strategies that best suit your audience requirements.
Select the robust virtual trade show platform that helps in hosting the event seamlessly and best suits your business requirement. Look for a platform that offers aesthetically pleasing visuals and engages your target audience.
The key features to look for while choosing a platform are:
Virtual Trade Shows have several benefits, its unique features, ease of use, flexibility, etc are what make them better than physical trade shows. It simplifies the hassle of organizing the whole event, and the hardships of generating quality leads.
With the Virtual Events industry booming, exhibitors and organizers should certainly host virtual trade shows for their business; given the global reach, flexibility, and incredible marketing strategies offered by virtual trade shows, it is clearly an event marketer’s choice.