 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
How Tradeshows can benefit from going Virtual The focus of this document is to review the current trends and problems facing the traditional tradeshow industry including participant recruitment and how they are providing a measurable return on investment to exhibitors and attendees. We will then explore the history of online tradeshows and their role in the tradeshow industry today, including how this medium can positively impact an attendees experience at a tradeshow. Finally, we will look at a case study of a successful online tradeshow, eComXpo (produced by InXpo), and what it has done to increase ROI.
Traditional Tradeshow Industry: Current Trends Exhibitor and Attendee Participation Despite rising fuel costs and the catastrophic
events affecting the Gulf Coast of the US, 2005 saw an increase in
traditional tradeshow attendance of
Attendees are coming to tradeshows eager to learn more and spend big dollars which is good and bad news for exhibitors. During the average traditional tradeshow about 80% of a company’s potential customers will come to their booth seeking more information, however, only 47% will actually speak to a booth representative. Considering most attendees have had no contact with an exhibitor prior to the tradeshow, the time they spend with a booth representative can make or break a potential business relationship.
The traditional tradeshow venue is limited by time and space – only so many people can be at a booth at one time, there’s only so many booth reps to go around, there are precious few hours available for communication at the tradeshow and attendees have a lot of ground to cover. An exhibitor will never know the number of potential leads that entered and left their booth without speaking to a representative and attendees will have missed out on valuable information from that booth – it’s a lose, lose situation for everyone – ultimately lowering the attendee and the exhibitor’s ROI.
Traditional Tradeshow Industry: Challenges Natural Disasters and Catastrophic Events The tradeshow industry is highly affected by weather disasters, national events and other occurrences that cause people’s sense of security to change. In recent history the two largest and most demonstrative events to have affected the tradeshow industry were the 9/11 attacks and Hurricane Katrina. In 2001, when the World Trade Center was
attacked the tradeshow
Most recently, the tradeshow industry was hit again when Hurricane Katrina roared through the southern part of the US. The hurricane caused over 70 tradeshows to be cancelled/postponed last year. However, while not on this scale, hurricanes, tornadoes and snow storms cause cancellations and postponements each year.
The Internet The Internet is not a new phenomenon but its rising usage around the world is enough to cause concern for the tradeshow industry. In the past, a tradeshow was the ultimate venue to learn about companies, products or services and in many cases the only place to see new products before they hit the market. But in today’s “always on” world potential tradeshow attendees are learning about products and services in advance and using that knowledge to decide if the tradeshow is worth attending.
Return on Investment (ROI) Providing a solid return on investment is the number one issue facing the tradeshow industry today – as it has been for over a decade. The only way to attract quality attendees and exhibitors is to add value to the exhibition and the old ways of doing this are no longer effective.
The problem is that ROI in this medium is hard to measure. An attendee goes to the show, sees a new product, goes home, does further research on it and decides to purchase the product via the Internet. This is a win-win situation for both the attendee and the exhibitor – but the exhibitor will never know that sale came as a result of their involvement in the tradeshow. In the same way an exhibitor will never know if their banner or ad in the show guide is what drove an attendee to their booth.
Tradeshows are trying to increase ROI for all participants by extending show hours, increasing the number of days of the event, having more exhibitors, localizing the show and collocating with other tradeshows. In this Internet rich environment top tradeshow producers have begun partnering with online tradeshow producers to have the best of both worlds – a traditional event that allows attendees and exhibitors to hear, taste, touch and see the products and the people and an online event that allows for more attendees and exhibitors, more targeted information, a truly measurable ROI and lower costs.
Virtual Tradeshow Industry: Past and Present History of Online Tradeshows In the late 1990’s when the dot-com boom hit there were a handful of companies that cropped up featuring innovative software allowing tradeshow producers to host their events in cyberspace. Exhibitors could customize booths and attendees merely had to click into a website to attend. These companies had education sessions, prizes and all the other things people would expect to see at a traditional tradeshow without ever having to leave home.
When the dot-com’s started going under so did the online tradeshow sites. The truth was the world wasn’t ready to move online yet. While the early companies had the right idea they had the wrong timing. Internet usage, instant messaging, email and a “wired world” was in its infancy which left a good product without a home.
However, one company born during this volatile
time of dot-com success and failure persevered, waiting for the
right moment to bring online tradeshows back to the masses. In early
2000 Five Star Distributors used the online tradeshow medium to
broker a boost in sales by hosting a show called the Virtual For five years InXpo continued to produce VVS, which steadily grew in number of attendees and number of exhibitors. They updated their software and used VVS as a tool to learn the ins and outs of the online tradeshow venue. Today, InXpo is one of the largest online tradeshow companies hosting events for top distributors.
Online Tradeshows Today InXpo’s technology is unmatched but the key element to their success has been the quality of service they provide attendees and exhibitors. They are able to give participants an exceptional show experience without them ever having to get on a plane.
Attendees are able to attend for a fraction of the cost (often for free) of a traditional event and they reap all the benefits they would if they paid to go to a traditional event. Exhibitors are able to chat with more than one person at a time, use search tools to find qualified leads quickly and utilize profile tools that allow them to see if booth guests are good leads before a conversation even begins.
Perhaps the most valuable thing for exhibitors is the proven ROI. In InXpo’s online venue exhibitors are provided up-to-the-minute reports of everyone who has entered their booth, they can see how long a person spent exploring their booth, they are given access to transcripts of all the chat sessions, they can see any missed chats, transcripts of emails are available as are copies of all business cards received. Exhibitors at selling events can watch sales change minute-by-minute with real-time sales reporting. These reports and results are benefits that only an online event can provide.
The question becomes, why would a distributor that has successful traditional events need/want an online event as well? The answer is simple - online events can solve many of the problems facing the traditional tradeshow industry.
The chart may seem to oversimplify the issue but in many ways it is just that easy. The online tradeshow industry is a perfect compliment to the traditional tradeshow industry. While a company like InXpo will never be able to provide the one-on-one handshake you’d get at a traditional event, they can provide proven ROI.
eComXpo: Case Study What is eComXpo? eComXpo, produced by InXpo, is the world’s
largest tradeshow for eCommerce marketers and it’s held completely
How Does eComXpo work? For exhibitors it’s a simple process of signing
up for a Platinum, Gold, Premium or Standard
eComXpo is a full-service online show that occurs twice a year. At each event they attract top exhibitors, including Google, Yahoo!, MSN, LinkShare, Performics and Advertising.com and highly respected Keynotes include Seth Godin, Lee Rainie, Anne Holland, Bryan Eisenberg and Geoff Ramsey. All of this is available to attendees and exhibitors from around the globe at a fraction of the cost of traditional tradeshows.
eComXpo gives attendees and exhibitors an online forum to chat, learn about new ideas, products and services, hear presentations and win prizes all from the comfort of their own home or office. It allows people in the industry to interact with colleagues from around the world with the click of a mouse – a feat that is difficult to accomplish at a traditional tradeshow due to cost and time restraints. Given the benefits of this online show it is easy to see why, after only two events, it is the world’s largest tradeshow for eCommerce marketers.
Conclusion While online tradeshows will never replace traditional tradeshows, there is plenty of reason for them to work together to produce a more robust tradeshow experience for attendees, exhibitors and speakers. To learn more about InXpo or eComXpo, please contact them using the information below.
InXpo, LLC 847.735.1800
eComXpo, LLC 847.295.6100
|
|
slightly more than one million people. Of these attendees, according
to a survey in Exhibit Surveys, 47% had intentions of
purchasing the exhibitor’s products in the next 12 months and 87% of
tradeshow attendees in 2005 had no direct contact with exhibitors in
the 12 months prior to attending the tradeshow. For 2005 this means
over 32 million tradeshow attendees had intentions of purchasing
products or services that were previously unused by the attendee.
industry
found itself in a quandary dealing with the effects of a national
tragedy and trying to figure out how to move forward with so many
obstacles facing them in the short and long term. In the short term,
dozens of shows had to be cancelled/postponed due to a halt in all
air travel. Convention centers were forced to give refunds and
reschedule dates as were airlines and hotels leaving attendees
without a show and exhibitors without a place to sell products. 
Vend
Show (VVS). It catered to vending machine distributors who were
looking for a convenient way to buy large quantities of product
without having to travel to traditional tradeshow events. The event
was a run-away success and led to the development of InXpo, LLC. 
online.
eComXpo’s first event was in February 2005 with a focus on affiliate
marketing. In October 2005, eComXpo hosted its second event, this
time adding a second exhibit hall for Search/Interactive Marketers.
Topping their first event in the grandest fashion they increased
attendance by over 300% and exhibitor booths by over 60%. As their
third event slated for April 4-6, 2006 approaches they expect to see
an increase in attendance and exhibitors once again. This means more
booth visits, more chats and greater ROI for all involved. 
Booth
and then following the easy setup instructions to submit information
to the eComXpo team. The team then builds a virtual booth and
exhibitors log in on show days to greet their booth guests all from
the comfort of their own home or office. Attendees can access the
show 24/7 from any computer with an internet connection during the
show days. Once in the show they can chat, watch presentations, win
prizes and explore the exhibit halls. 
