Organiser’s digital events/virtual trade show platform should focus on sales

Part 1 (2)

Covid-19’s severe impact on many business sectors is forcing adoption of tech like never seen before; with online commerce and live streaming surging. Businesses are as a consequence forced to adapt and digitalise, to reach their prospects and customers - be it B2C or B2B. Increased use of virtual, and enhanced online marketing and sales efforts are necessities, as a way for organisations to continue to engage their prospects and customers even when they can’t meet in person.

MICE organisers for large events now have to consider using virtual solutions, since there are big limitations on physical trade shows, road shows and conducting international travel. Buyers and sellers worldwide are facing obstacles in terms of cancellation or postponement of physical trade shows.

This obstruction caused is the trigger for the welcome switch to so called hybrid- (with a mix of face-to-face and virtual interactions) and virtual trade shows. This is now becoming the (new) name of the game.

Trade shows were up until recently all arranged based on a routine format, which was in fact not suitable for all types of businesses and visitors. After all, how many companies and participants can afford to invest in joining global trade shows without knowing the ROI (return on investment) when the combined costs for joining such events are typically very high? Small businesses simply had to opt-in for local trade shows or simply focus on other types of marketing efforts.

Meanwhile, virtual opportunities that enable new un-orthodox methods and effective, flexible ways for engagement were already there. And now the world has reached a turning point for digital events. The time has come for hybrid and virtual to shine and show they have a place for real, based on good enough reasons.

Virtual trade shows can offer enhanced ways to reach prospects and generate more customers than previously was the case. Organisers of and exhibitors in niche trade shows can also benefit from what a virtual version could bring: more exhibitors, more revenue and great potential for more participants who can attend virtually from anywhere, without having to travel to a physical event. 

Now, one can not only replicate a physical trade show but overall make it look even more impressive and certainly include more tools for engagement and measuring the results.

For instance, a physical expo with say 15+ seminar halls to keep track of is challenging for any individual, even when equipped with an exhibition map. Attending online it is however only a matter of a few clicks to navigate and be in control of one’s agenda and meetings. And, with the right platform one can instead of randomised encounters search for and find prospects/other persons one would like to interact with.

Trade shows and organisers of other individual, customised events are naturally now on the lookout for what is available in terms of such cutting-edge, scalable and cost-effective virtual solutions.

Virtual marketplace as solution

So, let’s look more closely at the virtual possibilities and what an online trade show/ marketplace platform should deliver!

Some companies are taking their shows online with virtual events, via streaming, in order to reach customers. But they often use video chat solutions, and a webinar format, that do not mirror the real value of what a trade show is about (but works well when selling and presenting virtually to existing clients). But there are many needs, and trade show-related aspects that cannot be solved with video conferencing tools.

What event organisers should be looking for and offer to their clients goes way beyond using video conferencing/virtual communications software; namely high-capacity and flawless virtual trade show technology.

Virtual trade shows are interactive; allowing attendees to visit booths, chat with booth representatives, attend seminars and keynote speeches, and even chat, network or talk live to other attendees. So via such a virtual trade show/marketplace sellers and buyers/prospects are able to meet, instantly or per appointment, and exchange immediate responses and feedback. And that marketplace can be customised to exhibitors’ respective brand and go live on certain days or at certain times and days. It can of course also be a way to build leads and expand one’s database.

For organisers of physical trade fairs, or other sales events, a virtual platform can either be a solution to arrange what would, with an ongoing coronavirus outbreak, otherwise often not be possible. With a hybrid event it can also function as an addition for any business wishing to attend remotely, thus enabling exhibitors to reach/focus on certain markets without having to be there physically.

Besides attracting physical visitors with, under normal conditions, increased prospects for selling out the space (thanks to stronger awareness) the potential to reach a global audience (who finds it both cheaper and easier to join virtually) makes it even more profitable for organisers and space owners.

And for organisers the number of exhibitors who can attend is unlimited, since there is no minimum space requirement in the virtual world, enabling to attract also those who would otherwise opt out.

Furthermore, beyond physical events (often annual or bi-annual) that lasts for three to four days, a virtual event/marketplace can have as many live days as you’d like, and where communication is organic, ongoing. Then, you can leave it “open” for 30, 60, 90 days or permanently so that partners and consumers can access booths, presentations, documents, videos, etc. anytime. Within this lies is the opportunity to truly boost marketing and overall results from trade events for all stakeholders!

Thus: Event organisers will be able to earn more from hybrid and make the trade show even more successful via larger outreach online.

Virtual also enables maximum engagement: A key ingredient for success is that – with the right functionality in place – spontaneous meetings can actually be simpler to take place online. At physical events one does often not know who else is there, while online one can find friends and clients and build new connections more easily. One only needs to overcome the barrier of meeting each other virtually versus physically.

One can physically only be in one place at a time, while in virtual world much more can be achieved. In the physical exhibition the people you may want to talk to in a certain exhibitor booth are more often than not busy with other clients. And you may have an events schedule with seminars to attend etc. that keeps you busy. But in the virtual expo you can chat/order a one-on-one video call/ and ask questions to any booth representative without restraint.

Every attendant should actually be able have a searchable online list, including profiles of all other attendants, compared to (aside digital matchmaking tools sometimes used) not having any delegate list at all in the physical world for larger events, aside the exhibitor list. At best there will be a B2B lounge for meetings. But for spontaneous meetings, it is more powerful when one can virtually give a business card to a contact to acknowledge, and re-connect at some point after the event, to talk business.

In detail, what you will want to have is a platform that can deliver the following:

• A complete real-time trade show feeling and branding so the entire workflow features and design can fully substitute a physical exhibition and convention – at lower cost, lower to no risk, but with higher ROI.
• A highly customisable booth that features downloadable brochures, audiovisual presentation and video chat functionality etc.
• Ability to present dynamic deals, for instant gratification.
• Attendees can swap electronic business cards with a keystroke and save that data instantly in your database.
• Built for scalability: it allows for unlimited simultaneous events, unlimited exhibition booths and unlimited same time visitors.
• Visitors can join events and browse booths inside an event with the click of a button.
• Built-in chat with request-to-talk features and waiting lists functions (option to join the waiting list, so that the visitor can continue browse other booths while waiting, or schedule an appointment)
• A social media structure, allowing users to create their profile, biography and to follow businesses and users.
• All users can easily set up their profile, while event organizers can set the requirements for the type of visitors and companies to join the event.
• Enable virtual face-to-face meetings: visitors and business partners can easily connect and network at the exhibitor’s booth, just like in a physical event.
• During high traffic times the booth visitors can click to stand in line via a real-time virtual queue system, to talk with the sales and management.
• Each exhibitor can have several users (team members) waiting virtually to serve visitors.
• A concierge service to connect relevant visitors and exhibitors in one-to-one video meetings.
• Statistics: a post-event comprehensive overview and the right data to understand the impact and ROI of your event and contribute to your follow-up strategy.

With a platform like this it will also be easier for exhibitors to remotely reach their clients virtually and to attend a branded group event virtually. Exhibitors can also join last minute with much less advance planning required. As added value more events can be arranged virtually than physically. In the virtual world there is also no longer any maximum of attendants (only data capacity requirements via the provider)!

Enter the world of Expobo’s Virtual Trade Show, a social platform, designed for trade shows and sales-oriented events within any sector! Continue to part 2 to learn more about Expobo’s innovative virtual trade show platform