Are sponsorships of virtual events providing the same quality leads as onsite conferences?
A few weeks ago I was in Orlando for the SAP Manufacturing Conference and was expecting about the same crowd of about 800 that had been there the year before. I figured that there may be a decrease, considering the tough economic times we are experiencing and the fact that many companies are scrutinizing their travel budgets more these days. However, I was a bit surprised to see only about half or so at this year’s event.
For the past few years there has always been a line of people at our exhibit area, wanting to speak to representatives from my company, but this year, because of the smaller number of attendees, there were times when no one was there. This is totally unusual, since we provide the best analytical capabilities available and for more than 30 years, there hasn’t been another business intelligence organization in existence that can show the proven return on investment that we have been able to demonstrate.
So, it is no wonder that I asked myself “how are we going to be able to reach out to our customers and prospects if they are going to these external events?” The answer was provided to me when one of the conference organizers told me that they had decided to go “virtual” next year. She said that because more and more executives are unable to justify the cost of attending these types of events, they had decided to do everything online and was wondering if we would still want to sponsor this event again next year. Of course, she said, all of the presentations and sessions would be available “on demand” to the registrants and there would be a virtual exhibit hall where my company could have a booth. The online attendees would just click on my booth and all of our company information and sales material would be available for them to download. If they wanted more information, all they would have to do is complete an online form and it would be passed to us for follow up. They were even thinking of offering all sponsors and exhibitors specific times to have a company representative available to the attendees so they could have a live online chat and answer any questions or provide more information.
The capability to virtualize events has been around for several years, but the concept on conferences being run solely on the internet is just beginning to take off. By eliminating the attendees’ travel costs and the organizers’ logistics expenses, virtual conferences are gaining more buy in as a practical way to get the latest insights on specific topics that are at the forefront for today’s business executives.
Exhibitors use specially designed software to build their virtual booths to showcase products and services, present live presentations and product demos, and distribute literature. By browsing the booths, attendees can view demos, pick up literature to deposit in their virtual briefcases and chat with sales reps in real time.
What could be more appealing? The costs are minimal to the attendees, as long as they have a computer and a fast internet connection, they can log on whenever they want to and choose the information they want to read about. Online chats with the speakers and/or exhibiting companies can provide real time answers to their questions. No lost productive time due to travel. No limit on the number of employees you can use to staff your booth or "send to the show." No need to limit the duration of the show to just a few days. No geographical boundaries (assuming you have a way to staff the odd hours). No environmental concerns. No panic because your staff flew to Chicago — but your booth materials ended up in San Diego.
However, some savvy marketing executives are asking themselves right now “what about the downsides”? The most obvious one is that the technology has never quite delivered a user experience that's a viable substitute for physical presence. You lose that face-to-face spontaneous networking experience. Also, much of the value attendees derive from a live event is the unplanned moments. Like those times when you run into someone you know but haven’t seen in a long time or someone that you knew was going to be there and wanted to run into. Or, decide to hear a speaker or visit a booth at the last minute because someone you just met recommended it. You can only have experiences like these at live events. It would be a little difficult to accidently meet someone you haven’t seen in a long time while you’re sitting in your office watching your computer monitor.
The bottom line is that the virtual conference isn’t just an hour-long panel discussion, but can be an all-encompassing event which is able to cover a multitude of facets on a specific topic.
So, virtual conferences may be a very good option to consider in these times when travel budgets are being examined more closely than ever before. Let’s face it, executives still have to keep up with developing new ways to streamline their organizations, stay abreast of industry’s thought leadership and be a part of knowledge sharing sessions. Progress and profits shouldn’t be sacrificed during tough times, and the drive to learn more about how to achieve both must be made available to everyone.
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Today's Thought:“Success is not the result of spontaneous combustion. You must set yourself on fire.”
– Reggie Leach
