The devastating effects of coronavirus are still being felt on a global scale. Many businesses have had to shut their doors, thousands have had to make redundancies to be able to stay afloat, and most have relied on government funding to keep them going during these uncertain times. Some industries are really feeling the harsh impacts, especially the events industry who have not been able to open due to it being impossible to adhere to Covid regulations and people’s personal safety.
Many companies rely on tradeshows as one of their key sources of revenue due to the benefits it has for sales, marketing and networking opportunities. Due to the uncertainty of the current coronavirus situation, what is the future of tradeshows?
The future of tradeshows
CES, one of the tech world’s largest gatherings, which is usually held in January, has announced it will be the first 2021 tradeshow to become entirely virtual. The majority of tradeshows are adapting to the current situation by looking at moving their physical event to online.
Benefits of virtual tradeshows
We have been thinking about the benefits that virtual shows can have for both the hosts and exhibitors:
- Significant savings – It is no secret that tradeshows make a large dent in your budget, including travel, marketing materials, dinners, hotels and other expenses. However, the virtual element allows you to attend but from the comfort of your own home resulting in big savings.
- Increase in attendees -When tradeshows are online, this removes the challenges of being free to travel on specific dates, decreased costs, and maximum capacity does not exist on a virtual floor plan, the more, the merrier!
- Quality data and reporting – Virtual tradeshows are a marketers dream! Every move that an attendee makes is tracked, so you have information on how they attended, where they went, what they did, who they interacted with, which videos they watched, etc. Data on how many attendees viewed your stand or documents are available, making it easier for you to tailor your events in the future.
- Networking is easier then ever – You can create your own profile, interact in group chats with those from your industry and swap electronic business cards in seconds. During tradeshows, people are very busy, and the likelihood of catching them is unlikely, especially if you do not know them directly. However, virtual tradeshows allow you to have direct contact with all attendees and exhibitors.
- Various forms of media incorporated – Virtual tradeshows have integrated instant messaging, seminar technologies, podcasting and other forms of media to make it easier than ever for you to get your marketing message in front of the right people.
Could this be the future of tradeshows?
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