This post is going to try to discover what the future holds for the virtual event. Will it replace the 'real' trade show? Or are there just too many qualities of the real thing that will get left behind in the virtual world to warrant a complete change?
When one looks into the real world application of virtual trade shows by businesses, a different picture is painted to that supplied to us via the academic perspective. There appears to be little desire to adopt this approach in the real world. Reed Exhibitions CEO and chairman Mike Rusbridge comments on virtual trade shows explaining that the internet is becoming an important platform for interacting with their customers, however he specifically says this is not in the form of online trade shows. (Exhibition News, 2013) He continues to say that they are offering additional services using the internet, such as appointment setting systems and interactive content directories. This suggests that perhaps they are utilising the internet at their trade shows to enrich the experience before, during and after the event. Nevertheless this CEO has expressly said that they are not "believers in the concept of virtual trade shows."
Trade Show News Network (2010) have also commented on the concept of virtual trade shows also showing an apparent dislike of the idea of virtual trade shows replacing the 'real thing'. They recognise the use of using virtual events, to a degree, highlighting how they can be useful for pre-show marketing however purely as a facilitator and enhancer to the event, not a replacement.
These comments from industry insiders lets us draw the conclusion that adoption of the virtual trade show is not being planned for the near future, rather an amalgamation of sorts combining aspects of the internet within a real world event. It would appear that despite our affection of technology and the internet, we are not yet ready to leave been the opportunities for face to face interaction and first hand experiences.
Further posts in this blog will look towards the ways the internet is being used at events to enhance user experience as discussed above.
References
TSNN. (2010) The future of trade shows, are we really doomed?. [Online] Available at: http://www.tsnn.com/news-blogs/future-trade-shows-are-we-really-doomed (Date Accessed: 23rd April 2013)
Exhibition News. (2013) Reed chairman dismisses future of virtual trade shows. [Online]. Available at: http://www.exhibitionnews.co.uk/newsdetails/2858/reed-chairman-dismisses-future-of-virtual-trade-shows (Date Accessed: 23rd April 2013)
Now we have discussed what virtual trade shows are, and the advantages and disadvantages of this platform for events, we shall have a look at what is currently being said by academics researching this method of delivering events.
Pearlman and Gates (2010) begin this discussion by commenting on how, as mentioned in the previous post, innovation is critical for survival in many industries and this is leading to businesses adopting information technology solutions to meet this demand. However they go on to speculate that the use of virtual reality within business "looks promising; however widespread adoption may be years away." It is of interest that academics are predicting that the general acceptance and adoption of this platform, which holds so many advantages, is possibly years away. One could contemplate that the adoption of technology and internet in the past has been a fast paced process with people around the world thirsty for each and every new product or service relating to technology, so why should this new innovation be slow to catch on? We could look back to the previous blog where the disadvantages of virtual trade shows were discussed and perhaps conclude that one, or more, of the listed reasons is to blame for a lack of interest. For example there are concerns around the ease of use for both parties, especially should the user not be too familiar with computers or the internet. However Shen and Eder (2009) conducted a study exploring intentions to use the virtual world for business and obtained some interesting insights. Results showed that instead of concerns surrounding the ease of use, which conversely showed no significant effect, perceived usefulness and enjoyment had the most substantial impact towards intentions to use a virtual world for business events. Do these results show a link between online activity and the requirement of enjoyment to be present in this area? Afterall it would be unsurprising as many of us use the internet for enjoyment as well as studying or work, so it understandable that enjoyment should be a pre-requisite for the use of virtual worlds for business. Therefore this leads to wondering if the stigmas of perceived boredom and dullness in real world trade shows will be left behind and replaced by a highly entertaining and engaging virtual trade show which still fulfils many of the 'real world' objectives of a trade show. Could this be a 'best of both worlds' solution?
References
Pearlman, D. and Gates, N. (2010) Hosting Business Meetings and Special Events in Virtual Worlds: A Fad or the Future?, Journal of Convention and Event Tourism, 11 (4), p.247-265 [Online]. Available at: Taylor & Francis Online. (Date Accessed: 22nd April 2013)
Shen, J. and Eder, L. (2009) Exploring Intentions to use virtual worlds for business, Journal of Electronic Commerce Research, 10 (2), p.94-103 [Online]. Available at: http://www.csulb.edu/journals/jecr/issues/20092/paper3.pdf (Date Accessed: 22nd April 2013)
Virtual Trade Shows
Online trade shows are a recent development to arrive on the trade show scene. An online trade show holds many similarities to that of the current trade show structure. Companies are able to purchase space to showcase and demonstrate their products or services and the visitor is able to converse with traders, through audio or text facilities and swap contact details.
In 2009 Networking Today commented on the progressive emergence on the new event platform noting that only 1% of Trade shows are currently held online. However they stated that industry experts expected that by 2015, more than 25% of trade shows will be conducted in virtual environments suggesting that this could be a growing trend. In the same year a survey was conducted by WCP Exposition Services stating that 7 out of 10 people are actively interested in pursuing virtual events, however they have no intention of replacing live events and instead will use a balance of the two to "address a changing market". (WCP Exposition Services, 2009) Is it just too risky for business' to turn their back on the 'real life' tangible event? The trend of transferring aspects of our day to day lives online is undeniable, but where is the line? Will consumers and businesses' shun opportunities to stay at home and attend online tradeshows in their pyjamas in favour of the tangible experience of visiting a tradeshow and stuffing their pockets with business cards?
We want to have a look at the advantages and disadvantages of moving trade shows into the virtual world to perhaps better understand if there is a demand for this type of event.
Advantages
Cost savings
For Attendees; No travelling or accommodation required and less time away from work.
For Traders; Lower charge for ‘stall’ space and no travelling or accommodation charges. Lower production costs also.
Time savings
For Attendees; No travelling time and can attend for a length of time suitable to their needs.
For Traders; No travelling time and less staff time required.
Logistics
No concerns over the flow of traffic in terms of visitors, staff, amenities and deliveries.
Less risk
For Attendees; Less risk in attendance. People can be experimental and attend trade shows that they may not of otherwise attended.
For Traders; Less risk participating in virtual trades shows as inputs, in terms of those discussed above, are minimal. Can be experimental. Good for emerging companies.
Greener
Better for the environment as no tangible event causing associated pollution.
Digital Generation
Will appeal to the emerging digital generation who are very comfortable using technology and the internet.
Increased attendance
A larger volume of visitors and demographics are likely to attend due to the ease of attendance.
Some of these positives can be exactly what new companies need to forge
a path into the market place. With investment money scarce on the ground,
especially within the Eurozone, new businesses need to find ways of gaining
exposure, credibility and custom with as little risk associated to the process as
possible. Likewise attendees will want to be at the forefront of change and virtual events provide a good platform for businesses, on either side of the desk, to be exposed to new services and products.
Despite the long, convincing list of benefits of a virtual trade, as with everything, a list of disadvantages follow. These should be noted carefully by all involved. To address and overcome these barriers could be what makes a virtual stand achieve success over the increased number of stands that will be available at a virtual trade show.
Disadvantages
Engagement
Attendees can just simply log off and leave should they wish. They may not be as engaged with the event as much as if they were there staying at the event for the day, over night or for the weekend.
Atmosphere
It will be harder to create a 'buzz' as many human senses will be neglected.
Interaction
Interacting at a virtual event will be harder as it will have to be conducted purely through visual, audio or messaging which could cause misunderstandings and breakdowns in communication.
Internet Connection
Reliant on everybody having a reliable internet connection. Connection or technological issues could severely impair the experience.
Technological experience
This platform assumes everybody is computer literate and comfortable with attending an online event. There will be many demographics this will not appeal to and therefore could exclude potential buyers or sellers.
There are some serious draw backs to exclusively hosting trade shows online. For example the 'Internet Connection' issue could be devastating to the success of traders or attendees. Issues will connection could result in lost time, money and resources. Although we have discussed how these risks are minimised at virtual events an internet connection issue is the equivalent to being in the middle of a real event and everything around you disappearing! Not very good for business.
Our next post will consider how these events are being received in practice and what others in the industry and academics are saying about virtual events. In the mean time here is a video displaying an example of a virtual trade show created by XPOFAIRS.
References
Networking Today, (2009) Six Advantages to Virtual Trade Shows. [Online]. Available at: http://www.networkingtoday.com/article/Six%20Advantages%20to%20Virtual%20Trade%20Shows-872 (Date Accessed: 16th April)
WCP Exposition Services, (2009)
Champion Exposition Services Releases Findings from Survey on Use of Social Media and Digital Tools by Associations. [Online]. Available at: http://www.thefreelibrary.com/Champion+Exposition+Services+Releases+Findings+from+Survey+on+Use+of...-a0210708633 (Date Accessed: 16th April)
