How to Determine If You Should Invest in Virtual During Your Next Trade Show

November 16, 2022

Adrian Si

Adrian Si is the Director of Marketing Strategy at experiential marketing agency ASV.

People are returning to the trade show floor—in person, that is. There is a certain excitement that gets lost when attendees cannot touch, feel or physically interact with brands, so it’s no wonder people were ready for the return. The 2022 Kitchen & Bath Industry Show and International Builders’ Show brought in 70,000 attendees and 1,200 exhibitors, making it one of the largest shows to occur since live events went dormant due to COVID-19. 

While in-person show attendance is rising, virtual or hybrid can make more sense in some cases. Take a virtual trade show booth. It holds the potential to enhance reach via not just live broadcast demos but also on-demand streaming. It also provides professionals who would not otherwise attend (i.e., lower-level employees, non-department members, those outside the region, etc.) to experience the trade show.

Benefits of a Virtual Element

Virtual does not just expand reach. It can also complement the physical experience in many ways. Virtual reality (VR) and augmented reality (AR) are more than passing trade show technology trends. Both can improve the brand experience and the visualization of a product or service.

Should you equip the floor with video conferencing tools, attendees can take meetings with those attending virtually. Then, the event is not just about watching demos, reading digital brochures or listening to speeches for virtual attendees. They have the option to interact directly with whoever is on the trade show floor. And depending on the platform used, those not present can pose questions, discuss pain points and obtain solutions via live Q&A functionalities.

Qualities of a Successful Hybrid Show

For the most part, the qualities of a successful hybrid show mirror those of in-person trade shows. Remember, having a virtual component adds another layer to the event. You will need the right internet connectivity, speed requirements, technology platforms and other associated tools to accommodate both in-person and virtual attendees. That additional layer will come at a cost, but with the right budget and planning, it can be accounted for.

Then there are the staffing requirements of hybrid events. You will need dedicated staff assigned to each virtual component—and that’s on top of the staffing needs for in-person attendees. Those manning virtual elements will require tech and trouble-shooting skills in addition to the traditional skills of communication, sales and so on.

Deciding When to Invest in Virtual

With all the trade show technology trends, it can be difficult to decide whether virtual elements make sense for your brand. Before jumping into the hybrid realm, it is important to assess your needs by thinking through a few questions. The benefits should always outweigh the additional costs. Here are some questions to consider:

1. How well does a product or service translate to a virtual presentation?

One of the first things to consider is how a presentation might translate online. Simpler and higher-familiarity products and services work well virtually. A unique or more complicated message could get lost in translation if not communicated in person. Determining the complexity and newness of what you are trying to communicate will help you decide whether to present that information virtually or at your trade show booth.

2. Is brand awareness a main objective?

Building brand awareness is a process already done digitally, so a virtual component will broaden your visitor base. Leads may not improve, however, as virtual attendees are not always qualified (i.e., not the decision-maker or authority to purchase).

3. Who and where are your customers?

If most sales go to existing customers and many are unable to attend due to proximity, a virtual component makes sense. Using a virtual trade show booth allows you to inform customers about new features and generate excitement in the process.

4. Will you offer a tiered pricing model?

Consider strategic pricing of virtual attendance versus those attending in person. Perhaps it costs less to attend via video chat.

5. Should you work with an experiential agency?

If you are wondering how a virtual trade show works, experiential agencies have the expertise to provide the answer, as well as assess the effort and costs associated with virtual components. Discuss your plans and reasons for adding a virtual component. Your partner can help implement the right solution and keep you from buying into those trade show technology trends that fail to deliver the desired results.

Ultimately, determining your needs and then conducting a cost-and-benefit analysis will be the best way to proceed. You want to ensure all elements provide value and drive attendees further down the sales funnel.

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MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.