Trade shows are your time to interact with prospective clients. In the times of coronavirus, these events need to adapt in order to deliver value from afar.
With COVID-19 canceling trade shows for the foreseeable future, organizations are rescheduling their events as virtual trade shows. From Cannes Film Festival to the Craft Brewers Conference, everyone is accepting these changes in business and turning to the internet to move forward.
While virtual trade shows may seem futuristic and daunting, it’s a new opportunity to show potential clients creativity and innovation in your field. In fact, there are so many pros to this new style of trade show that they may become the new norm. Virtual trade shows provide an opportunity to cut costs, reach a wider global network and generate higher levels of sales faster!
What exactly is a virtual trade show?
Instead of the in-person events we are used to, a virtual trade show takes all the regular aspects of a show and recreates it in an interactive 3D site. Many trade shows have gone to great lengths in creating a life-like digitized convention center, like the MarineMax Online Boat Show. The photo below isn’t an image from a marina at night but the 3D boat show, complete with individualized booths, virtual boat tours and more. Customizable avatars can walk around and chat with other show-goers, providing the same networking opportunities, albeit different from the personal touch we are used to.
The 3 Advantages of Virtual Trade Shows
Reducing Overhead Expenses
While the hustle and bustle of trade show season is energizing and exciting for most, it is also expensive! The cost of booth and promotional materials, the complicated transportation of your products and staff, the overtime racked up on the exhibit floor. This all adds up to a lot of hours, materials and money!
One of the perks of virtual trade shows is the cost savings. With initial costs way down, trade shows can be a more profitable experience. And after all, isn’t that the whole point of a trade show, to boost business revenue?
Side bonus: cutting out promotional materials and transport is eco-friendly! Did you know trade show can produce up to 600,000 tons of waste every year?
Reaching A Global Audience
Another perk is the ability to have a global reach. A physical trade show can only attract as many attendees as can reasonably make it to the location or afford the high ticket prices. While many people will fly for a good trade show, a physical location still limits the reach of your trade show exhibit. Online trade shows are accessible globally, lowering the barrier of entry and expanding to a broader audience which can lead to increased brand awareness and access to a new target audience.
Extension of Sales Window
Another way that virtual trade shows can benefit your business is by extending the longevity of your sales content. These shows often kept “live” on the host’s website for weeks afterward, allowing you to generate qualified leads within a longer window of time. Instead of the limited and frankly overwhelming nature of physical shows, a prospect has ample time to schedule interviews, interact with products and retain sales information.
While trade shows have been forever impacted by the pandemic, there are ample opportunities to be taken advantage of. Instead of sitting on the sidelines and waiting to see what happens, jump in with KO Digital and be on the forefront of a new market of global clients.