Trends In The Virtual Worlds Industry

September 28, 2010

How do you keep up with industry trends?  You hear from the people setting the trends.  On September 24th, FountainBlue held its annual virtual worlds conference on Cisco’s campus in Milpitas, CA.  The event featured a session titled “Trends in the Virtual Worlds Industry: An Update on What’s New and What’s Coming.”

The panel:

  1. Facilitator Jeff Pope, Founding Partner, Spark Sky Ventures
  2. David Helgason, CEO and Co-Founder, Unity
  3. Chris Platz, Creative Director and Art Lead, Stanford Sirikata Labs
  4. Eilif Trondsen, Research and Program Director of the Virtual Worlds @ Work Consortium at Strategic Business Insights, SRI International
  5. Mark Wallace, Conversation Manager, Linden Lab

Related News: From Virtual Worlds News, “Unity Launches Unity 3, Wins Innovation Award”

Terminology

The panel agreed that the term “virtual worlds” may no longer be applicable.  Eilif Trondsen noted that many technologies (e.g. Teleplace, Protosphere), provide virtual spaces (for corporations), rather than an entire virtual world.  Interestingly, at a Stanford Media X event, IMVU noted that they’re “NOT a virtual world“, either.  Chris Platz noted that he refers to the technology as a “real-time 3D collaborative spaces.”

Adapting to a changing user community

Platz noted that many virtual worlds technologies were designed for an older audience – one that will soon give way to a younger generation (e.g. Gen Y).  The technologies will need to adapt to a user base who grew up in a “virtual world” – they will have a different set of expectations.  An audience member noted that for some kids, their first experience online is in Club Penguin (or a similar “world”) – before they experience the broader web.

Platz encouraged virtual worlds to tear down the “walled garden” (e.g. closed system) in favor of an open system that integrates with Facebook, Twitter and other systems.  Platz developed and experimented with a Flash-based MMORG (massively multi-player online role-playing game) that ran as a Facebook app.  He predicted that some time soon, someone would develop a fully functional 3D virtual world embedded in Facebook – one that users interact with while on Facebook.com.

Avatar or no avatar?

The panel had an interesting debate on the use of avatars.  The debate was spurred from a point made about someone’s notion of an “ideal corporate learning environment”, which listed the following attributes:

  1. Ability to give presentations
  2. Virtual whiteboard
  3. Document collaboration
  4. Desktop sharing
  5. Use of avatars is secondary

What the debate really boiled down to is not “avatar or no avatar”, but “immersion or no immersion?”  Mark Wallace from Linden Lab took the “avatar stance”, noting the deep association between a user and her avatar – and the resulting impact of that connection.  Wallace noted that Second Life residents whose avatars participate in virtual weight loss programs actually lose weight in real life.

Audience member Laura Kusumoto noted that Wallace’s example referred to “Club One Island” on Second Life – I wrote about Club One in a posting about a Stanford Media X event in which they presented.

For me, it’s useful in a group learning environment to receive signals about the other members of the group (e.g. are they paying attention, are they engaged, are they asking questions, etc.).

There are non-immersiveness tools that can be leveraged (e.g. webcams, text chat, message boards, etc.).  However, I do see the value of immersiveness for learning – I’d compare it to an in-person team meeting vs. an audio-only conference call.

Augmented social graph reality

David Helgason made an interesting prediction with regard to augmented reality.  Helgason believes that the future of augmented reality includes your social graph overlaid onto your AR experience.  In the near future, your smartphone may be able to perform facial recognition on a person – and overlay your social graph connections to that person (on your smartphone’s display).

Perhaps the more immediate opportunity is already happening – via location based services as opposed to augmented reality.  For example, I arrive at a restaurant and find reviews from people in my social graph.  Reading my friends’ reviews lets me know whether I should go in to grab a table.

Second Life Enterprise

Linden Lab’s Mark Wallace was asked to comment on future plans for Second Life Enterprise.  Wallace noted that Linden Lab is taking a holistic approach to the entire platform – looking to make improvements to the user experience that apply to all users.  Wallace would not comment specifically on Enterprise, noting that the improvements underway would benefit everyone.

Conclusion

This isn’t your father’s virtual world any more.  From hearing this panel, I’d say that virtual worlds technologies (or, real-time 3D collaborative spaces) will continue to morph and blend immersive experiences with the social graph, social gaming and augmented reality.  As facilitator Jeff Pope noted, it will be interesting to gather again in 12 months to re-assess where the trends have taken us.

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Posted by Dennis Shiao

3 Virtual Worlds Technologies To Watch

September 26, 2010

On September 24th, FountainBlue held its annual virtual worlds conference.  This year’s event was hosted on Cisco’s campus in Milpitas, CA.

The event was attended by entrepreneurs, intrapreneurs, investors and virtual worlds practitioners.  Several virtual worlds entrepreneurs spoke on the scheduled panel discussions and a few set up stations to demonstrate their technology.

I’d like to highlight 3 virtual worlds technologies that caught my attention.

RocketOn: A virtual world layer on top of the entire web

Presenting executive: Steve Hoffman, CEO

RocketOn takes my “Best in Show Award” for most innovative virtual worlds technology.  While Facebook and Twitter have propelled social networking to mainstream adoption, surfing the web is still a solitary experience.

While many web sites have added community features (e.g. membership, comments, Facebook social graph integration, etc.) – it’s still the case that when I browse my favorite content sites, I have no idea who else is reading the same page at the same time.

RocketOn seeks to change that.  Using a Flash layer placed on top of web pages via an i-frame, RocketOn users can create their own avatar and have them walk atop any web page.  They can then see other RocketOn users who may be visiting the same web page.

Perhaps you’re reading a movie review and happen to bump into a friend, who’s reading the same review.  You decide to visit a site that hosts a trailer for the movie, so you both navigate to the trailer site, watch it there and continue your chat.

A Foursquare for the entire web

One of the captivating features of Foursquare is the ability to see who else is at the same physical location as you.  RocketOn has built a similar feature for the entire web.  While the service is focused on a consumer audience initially, imagine how this technology could be used in a corporate setting.

Browsing your company’s intranet could become much more productive and engaging.  Now, water cooler conversations could occur online, as you bump into colleagues at the employee directory page (rather than the kitchen).

Additional Information

  1. The “About Us” page for RocketOn
  2. More details on the RocketOn platform
  3. Neat 2-minute video about the RocketOn service

Zenitum: Bringing virtual worlds into the real world

Presenting executive: Albert Kim, CEO

I admire technologies that flip conventional models upside down.  While we visit virtual worlds from the real world, Zenitum seeks to have virtual worlds elements visit us in the real world.  CEO Albert Kim receives the “Jetsettter Badge”, having attended the conference from Zenitum’s home base in Seoul, Korea.

When publicly released (later this year), Zenitum’s technology will be supported on iPhone, Android and Symbian.  Zenitum will provide their app and an SDK (software development kit) for free.  They are encouraging widespread adoption of their technology – consumers use their app and device manufacturers develop services using their SDK. Zenitum will monetize their service via advertising (“augmented advertising”, perhaps).

Our reality will forever be augmented

When you run the app, your smartphone scans your surroundings, attempting to recognize images.  If it finds a match, Zenitum overlays a 3D animated object on top (or around) the real world object.  For example, let’s say a comic book publisher is running a campaign and loads an image of a comic strip into the Zenitum platform.

The same image is on a billboard on a city street.  When I walk down that street with the app running (and my smartphone positioned properly), Zenitum detects the comic strip image.  It then inserts animated 3D objects (perhaps other characters from the comic strip) around the real world object.  As I move my phone left, right, up and down, the animated objects adjust their positions accordingly.

Possible use cases

Imagine the use of this technology at a museum – as you walk past a painting, its “virtual artist” could appear on your phone and speak to you about the inspiration behind the work.  At a trade show or conference, walking down an aisle could cause executives (virtually) to spring up and give you a brief pitch about their product.

Neat stuff – I hope we’re able to keep the distinction clear, though, on what’s real and what’s virtual!

Additional Information

  1. Zenitum’s “Company” page on their web site

Digitell: Bringing a global audience to your next meeting

Presenting executive: Jim Parker, President

Digitell uses the ActiveWorlds 3D platform to bring you hybrid meetings, virtual events, virtual communities and webcasts.  Jim Parker, Digitell’s President, notes that a common client of his service is associations, who want to extend the audience for their annual meetings.  Parker notes that the immersive experience of Digitell makes attendees “feel like they’re there” (at the physical event).

Parker’s clients who run these hybrid events often charge the same amount on virtual attendance as they do for the on-site event.  In this way, the common objection of cannibalization goes away, as the virtual component generates additional audience – and additional revenue for the meeting organizer.

Dispelling the notion that virtual worlds are for the younger generation, Parker notes that the average age of a Digitell user is 44 (wow!).  Users are so passionate about the experience that they often comment, “when’s the next event, I want to use my avatar!”.

Parker has created 3D replicas of museums, which allows students (across the globe) to visit and experience the museum’s works, without having to be “bused” to the physical building.  Imagine how easy it would be to have a virtual guide take students on a tour of the museum’s main works, any time of day, with students participating from all over the world.

Additional Information

  1. More info on Hybrid Meetings from Digitell

Conclusion

While the term “virtual worlds” has a negative connotation in the minds of many, it hasn’t stopped innovative entrepreneurs from developing new and exciting services.  It will be interesting to watch each of these technologies to review their adoption, growth and monetization.

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Posted by Dennis Shiao

With Virtual Events, You’ve Got Game

September 20, 2010

On the INXPO blog, we write about virtual events and virtual business environments.  I wrote a posting about gamifying your next virtual event.  The benefits of adding a game element to your event:

  1. Games are Participatory
  2. Games Create Competition & Networking
  3. Games Foster Elevated Retention

I then provided some strategic advice for virtual event gaming:

  1. Content Must Be Contextual
  2. The Game “Layer” Should Be “Thin”
  3. Benefit of Teams

Do you got game? Read the full posting:

INXPO: Gamify Your Next Virtual Event

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Posted by Dennis Shiao

Project Planning For Your Virtual Event

September 18, 2010

Planning and executing a virtual event can be a juggling act – moving parts include people, deliverables, technology, content, people, support, sponsorships, exhibitors, presenters, executive sponsors and more.  More than an “event” or a “project”, virtual events are a journey.  When crossing the finish line of a virtual event, some feel like they’ve just completed a marathon.

This leads to an interesting question – what tools do virtual event planners use to manage this journey?  My belief is that most teams use the basic ones.  The most prevalent is probably Microsoft Excel, in which a date and owner-based task list is used.  For a more robust project plan, some teams may use Microsoft Project, which (among other things) allows you to better build in dependencies and critical path items.

In addition to the project planning tools, virtual event teams need to collaborate and coordinate, both within the team and outside their organization (e.g. experts, speakers, technology providers, exhibitors, booth representatives, etc.).  The team may have the benefit of SharePoint or Lotus within their company, but that doesn’t solve the challenge of coordinating with outside parties.

I came across a few articles this week that highlight interesting project management tools.

At Forbes.com, Gene Marks wrote an article titled “Project Management Software That Brings Order To Chaos.”  Tools mentioned by Gene were:

Desktop Software

  1. Microsoft Project 2010
  2. Primavera P6 Project Management (Oracle)
  3. OpenProj (Serena Software)

Hosted Software

  1. Basecamp  (37 Signals)
  2. Zoho Projects
  3. Central Desktop

Basecamp sounds particularly neat – as Gene writes, “Basecamp’s functions include milestone management, collaborative file sharing, time tracking, messaging and integration with the company’s Campfire group-chatting software.”

Group chatting could be useful and efficient compared to numerous phone calls and conference calls.  I’ve surely used a lot of AIM and Skype when coordinating my events – and having a system that all team members can standardize on (for chat) could be a win.

At Entrepreneur.com, Jonathan Blum wrote an article, “The Web-Based Scheduling Tool That’s One Step Ahead of You.”  The article highlights a project planning tool called TheDeadline – a hosted application that integrates with Google Apps.  The neat thing about this tool is that it attempts to predict which tasks you need to work on next.

However, it sounds better suited to an unsequenced task list – so, the current version may not be the best fit for planning a virtual event, where there’s an ordered list of deliverables and tasks that have a pre-deteremined sequence.  I do think it’s something to keep an eye on – imagine entering some tasks into a system and having the tool tell you that speakers’ presentations are due today!

Leave us a comment below – what tools are you using to plan and execute your virtual event?

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Posted by Dennis Shiao

Comparing Physical And Virtual Trade Shows

September 16, 2010

At Focus.com, Alex Gonzalez posed a question about the pros and cons of physical and virtual trade shows.

I’d like to share an insightful answer posted by Steve Gogolak, Director of Solutions Innovation at Cramer.

Pros/Cons as an attendee

Travel – the convenience of not having to travel is great for the participant. What’s even better is being able to invite a colleague who may be interested despite not having any intentions to visit the event. It’s the “hey, Jerry would really want to see this” moment realized.

Experience – this is highly dependent on the effort put forth by the booth owner. A lot of booths fall flat in a virtual world, but the same is true in the real world. If an exhibitor understands how to use the features within the booth well, it will make for a good experience. The use of self-directed video is a great example here. The more an attendee browses through video, the more fulfilling the experience. Chat is functional and generally gets the basics across, but will not be comparable to an in-person experience until two-way video is an option.

Privacy – browsing privately is much less intimidating online than in-person. The biggest opportunity an exhibitor has with a visitor is in the attract loop. In a virtual booth, the visitor can be presented with a finite “pitch” regarding what the booth is about. They remain captive for 30-60 seconds as the watch the video, which is effectively qualifying them as a lead (if they bolt, they weren’t interested anyway). It’s hard to stand in a physical trade show booth for a minute and not be bombarded by sales people.

Pros/Cons as an exhibitor

Cost – oh where to begin. A smart exhibitor will shift funds away from travel, employee time and expensive scenery to content production. More content that is suited specifically for a virtual booth is what the best exhibitors will focus on.

Reporting – this has already been mentioned, but near-real-time data about who is in your booth, who has visited and what they did is readily available. Similar results can be achieved in the real world with RFID systems, but the cost is near prohibitive for all but the largest companies. The data that emerges from a virtual booth can keep your sales team busy for weeks worth of follow up.

Commitment – I haven’t seen that many exhibitors really commit the time to understanding what they are doing in side of a virtual booth. They need to see it as a mini-website. An extension of their online presence, targeted for the specific audience that is attending the event in question. The reality is that 95% of the time commitment is spend in content development since the actual tools to “build” the booth are so darned easy to use. In my opinion, the limiting factor is always the content, not the technology.

Re-purpose existing content from other marketing initiatives. As Dennis mentioned, you’re online… so use the assets you already have available and treat the booth as a traffic driver, feeding highly-qualified traffic into your other marketing nets.

View the original Focus.com discussion here:

http://www.focus.com/questions/marketing/live-vsvirtual-trade-shows-pros-and-cons/

About Steve Gogolak

Marketing & Communication is my passion because I love to tell stories. I love to see the look on someone’s face when I’ve hit a chord that resonates with their needs, wants and desires.

Marketing is changing. It is moving further and further away from the “blah blah blah” of a bullhorn in the hands of large companies with big budgets and more toward the targeted messages and subsequent conversations between real people and real buyers. In short, marketing is “getting real” in a big way. What does that mean? It means that companies with remarkable products and services that demonstrate remarkable passion for their buyers’ needs will succeed more quickly – and those who rely on bullhorn-style marketing to force feed their buyers will not.

I’m passionate about marketing because real stories told by real people sell – fast and frequently. I tell stories and I help my clients tell theirs every day.

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Posted by Dennis Shiao

Using Social Media Marketing To Drive Your Virtual Tradeshow Leads

September 14, 2010

The following is a guest post from Cece Salomon-Lee.

As a marketer, one of my goals is to generate the right leads for my sales force as efficiently and quickly as possible.  This requires constant evaluation of existing tools — emails, banner ads, and events — as well as new ones such as social media and virtual events. While webinars arguably are a standard part of a marketer’s lead gen toolbox, virtual tradeshows are just being considered. Part of the challenge is how to effectively drive qualified sales leads to your booth or virtual event.

Here are recommendations on how to leverage social media to market your next virtual tradeshow (Please note that these recommendations are for organizations who are hosting their own virtual tradeshows and may need to be amended for those exhibiting within a virtual event):

Identify Online Influencers

Each industry has influencers who yield a lot of sway with potential and existing customers. However, popularity – the number of followers or readers -is not necessarily a barometer of one’s online influence– the ability to drive a community of individuals to an action. Identifying the right influencers based on your objectives and audience will require research and time. When done well, these individuals will write or tweet about your upcoming event.

Here are some recommendations:

– Twitter Search: Use keywords to find those who tweet the most about your industry.

– Twinfluence: Not only does Twinfluence provides a list of the top 50 twitter users based on reach, velocity and social capital, but also can leverage this to determine the influence of those you researched via Twitter search.

– AllTop: While you can use Technorati to search for top ranked blogs, I recommend starting with Alltop, which categorizes blogs under separate topics. This will help narrow down the blogs most appropriate for your virtual tradeshow.

Engage in Conversations

Have you been in a middle of a conversation when a stranger suddenly interrupts and adds his two cents? Your initial reaction probably was “who is this guy?”. Well the same applies to online conversations. It’s important to engage in existing conversations BEFORE jumping in to promote your event and disappear. Rather, take time to monitor and participate in ancillary conversations weeks if not months before your event.

For example, research and join relevant groups on Facebook or LinkedIn related to your company, industry and/or solution. If there is a relevant question, avoid the temptation to market only your company or product. Rather, respond with valuable information that contributes to the conversation. This helps to position you and your company positively.

Advertise Socially

Social networks have a wealth of demographic and professional information regarding its members. This is a great opportunity to create ads that target specific age groups or professional titles.  Facebook allows you to select age group, region and professional title when creating ads. Like Google adwords, you’ll want to create variations of your ads, test and refine to determine the best copy and attributes. If you’re targeting more than one professional level, I recommend creating separate ads with only that professional title to better determine who is clicking through. At this time, Facebook doesn’t provide detailed analysis by title.

While LinkedIn Premium Events service is coming soon, you can leverage the social networks’ Direct Ads service to target the network’s 76+ million members. Options include company size, job function, industry, seniority, gender, age and geography.

Share Freely

With the proliferation of information online, the challenge is to demonstrate the value of your virtual tradeshow to motivate people to register and attend. You can entice potential attendees by highlighting the types of information that is available at the tradeshow. For example:

– Blog Posting: Planning a white paper? Consider sharing a graph from the white paper and soliciting feedback to drive interest.

– Slideshare.net: Presenting in the virtual tradeshow? Upload the presentation slides to Slideshare and promote via Twitter, your blog, etc. Then invite people to submit questions that will be answered at the conference.

– YouTube: Have a product video? Consider posting to YouTube and embedding it on your website, blog, etc

In each instance, include information about your upcoming virtual tradeshow, such as dates, times, and a unique URL to track conversions.

Measurement and Tracking

So you’re tweeting the event, connecting with industry influencers and sharing content online. The next question is how to you track the effectiveness of your social media marketing?  Most virtual event platforms should have a system for tracking and measuring media campaign effectiveness. At minimum, they should be able to provide a formula for tracking those who visit a landing page and register accordingly.

Assuming the above, I recommend:

1) Creating unique landing page URLs for each channel

2) Shorten the URL via a URL shortener service, such as Bitly, that tracks the number of clicks per URL

3) Measure, evaluate and update your marketing mix based on the a) click-through rate and b) conversion to registrations

Conclusions

One word of warning is to first research and evaluate before plunging in with a social media marketing program, especially when contacting individuals and bloggers or participating in online discussions. While social media marketing takes time and effort, when done well, the results can be spectacular!

What strategies or tactics have you used to drive virtual tradeshow attendance?

Bio

As Principal of PR Meets Marketing, Cece Salomon-Lee has over 15 years experience conceptualizing and executing successful strategies for public relations, customer communications, executive visibility, analyst relations, social media and virtual events.  She has worked with start-up and established organizations in enterprise software, SaaS and digital entertainment, such as Blue-ray Disc Association, Cisco Systems, DreamWorks Animation, HP, Yahoo!, and MapQuest. Follow Cece at @csalomonlee or via email cece@prmeetsmarketing.com.

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Posted by Dennis Shiao

What Virtual Events Really Do

September 9, 2010

In the book “Duct Tape Marketing” by John Jantsch (subtitle: “The World’s Most Practical Small Business Marketing Guide”), there’s a paragraph in Chapter 2 titled “What You Really Sell.”  Here’s an excerpt of that paragraph:

“Here’s the funny thing about business. You don’t sell what it is you claim to offer.  You sell what the eventual buyers think they are going to get from your product. For instance, insurance sales folks don’t sell insurance; they sell peace of mind.  Chiropractors don’t sell neck adjustments; they sell some form of relief.”

Virtual event platforms sell a lot of things.  To some degree, the term “virtual events” is an injustice (or misnomer), based on the wide variety of applications supported by today’s platforms.  In fact, I wrote previously in a “virtual events futures column” that the term “virtual events” would disappear by 2011.

I don’t know whether my 2011 prediction will come true, but I do expect that by later this year, the “virtual” qualifier will start to be dropped, in favor of broader names.  With that being said, and in the spirit of Duct Tape Marketing, here’s my Top 10 List of what virtual “events” really do:

  1. Sales Pipeline Fueler
  2. Learning Platform
  3. Analyst Relations Venue
  4. Product Launch System
  5. HR Recruitment Engine
  6. Partner Community Enabler
  7. Corporate Training System
  8. Content Distribution Platform
  9. Revenue Generator
  10. A Marketer’s Ultimate Dream

Each of these terms better describes “what the eventual buyers think they are going to get from your product” than the term “virtual event.”

Share with us your thoughts – when you “purchase” a virtual event, what is it you’re really getting?

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Posted by Dennis Shiao

How To Effectively Generate Virtual Event Registrations

September 4, 2010

International Freelancers Day is “the biggest ever (FREE) online conference exclusively for solo professionals.”  Want to know how to effectively generate virtual event registrations? Follow this event’s lead.  They make it easy for you to sign up.  And once you do, they provide you with compelling value well before you attend the live event.

Prominently feature of a short video on the event home page

You can’t visit the home page for this event without noticing the prominent video.  It’s short and effectively markets the event (e.g. why should I attend?).  You’ll notice that the home page is not heavy on text that describes this event – instead, the messaging and background is contained within the video.  A well-produced video can describe and promote your event better than any paragraph of text can do.

Make registration easy

Registering for a virtual event typically requires the user to complete a registration page with 10-15 questions (or more!).  Ever wonder why registration counts are down? Could be the complexity of the registration process itself.  With International Freelancers Day, I simply enter my email address.

The event used a “double opt-in”, which means that I received an email, which prompted me to click on a link to confirm my registration.  This is a good protective measure, as a single opt-in would allow anyone to register any other user (email address) for the event, without that user’s knowledge.

In addition to this model, I expect to see virtual events adopt “social registration”, allowing users to register via Facebook, Twitter, LinkedIn, etc. That would also make virtual event registration very easy.

PROVIDE VALUE on your confirmation or welcome page

All too often, a virtual event’s registration confirmation says “thank you” and “see you at the live event.”  That’s it?  Instead, build a page that provides value to the registrant.  These days, attendance rates at virtual events (e.g. free virtual conferences or virtual trade shows) are 50% or lower.  That means that half or your registrants (or more!) never attend.

Your challenge, then, is to demonstrate value to the user as soon as they register.  Consider the confirmation/welcome page a big opportunity.  International Freelancers Day does a great job:

Pre-Event Training Videos

What a great idea – provide content to the registrants, in the form of videos from experts.  Registrants are provided access to 6 training videos.  The first 3 videos had these titles:

  1. A Simple System for Landing More of the Work You Quote
  2. How to Pick the Right Target Niche
  3. Ask Better Questions

Videos #4 through #6 are not yet available, but if you’ve registered for the event, you’ll receive an email when they become available.  Another great tactic – a steady, pre-event flow of content, which keeps you coming back.  That, in turn, keeps the event “top of mind” with registrants.

If users enjoy these videos, they’ll gain confidence in the value of the live conference, which means they’ll be more likely to attend live.  Finally, each video was hosted on a unique URL and allowed comments to be posted.

Video #1 had 17 comments, which means that registrants are viewing the videos – and, they’re already starting a dialog with the event host (and each other) prior to the live event!

Allow registrants to promote the event on your behalf

This event’s welcome page also included the following:

  1. A link to the International Freelancers Day Facebook Page
  2. A “tweet button”, allowing you to share the event with your followers on Twitter – and, a mention of the event’s hash tag (#IFD10)
  3. A snippet of HTML code, so that you can “add the International Freelancers Day badge to your website or blog”
  4. The Twitter ID’s of the event’s co-founders

Conclusion

I’m not a freelancer and yet this event registration process has me sold!  Generating registrations and attendees to your virtual event is a two-tiered process.

You first need to generate registrations.  Then, you need to get those registrants “through the door” (to attend live).  Use effective tactics, like those employed by International Freelancers Day, and you can excel at both.

Tweet this posting:

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Posted by Dennis Shiao

Virtual Recap: Recent Postings On Virtual Events And Virtual Worlds

August 26, 2010

Virtual Events eBooks

  1. Virtual Events: Ready, Set, Go – download the eBook
  2. Social Media and Virtual Events – download the eBook

Across the Industry

  1. My guest post at PR Meets Marketing, “Go Virtual for your Next Press Event” – how virtual events can be an effective platform for PR and marketing simultaneously
  2. Ken Heyward (vcopious) with a guest post on this blog, “Flexible Platforms in a Virtual World,” which addresses considerations for SaaS vs. on-premise software for virtual events
  3. “ROI for Virtual Events,” a posting I authored on the INXPO blog, with insights on virtual events ROI from thought leader Todd Hanson from ROI of Engagement

Virtual Worlds

  1. Stanford Media X Event – Virtual Worlds Entrepreneurs Show The Way
  2. Stanford Media X Event – Summary of IMVU Presentation from Brett Durrett, VP Engineering at IMVU
  3. FountainBlue Event – Annual Virtual Worlds Conference hosted by Cisco (Milpitas, CA)

Virtual Events Calendar

  1. There were a few virtual events in August as summer winded down – but look at what’s scheduled for September – events on luxury travel, natural products, publishing, higher education, autos, wireless technology, cruise shipping and eBooks.  Glad to see virtual events being leveraged across so many distinct industries

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Posted by Dennis Shiao

Stanford Media X Event: IMVU’s Online Community

August 23, 2010

Brett Durrett (@bdurrett), VP Engineering at IMVU, gave an interesting presentation at a Stanford Media X virtual worlds event.  IMVU achieves a $40MM annual run rate, primarily from the sale of virtual goods.  Several virtual worlds entrepreneurs were in attendance at the event, which meant that Durrett’s talk received a lot of attention and interest.

IMVU is NOT a Virtual World

Durrett began the presentation by stating that IMVU is not a virtual world.  Instead, they are an online community “where members use 3D avatars to meet new people, chat, create and have fun with their friends.”  Many members of the early management team came from There.com (including Durrett) and their experience told them that an expansive “world” may not be the best solution.

Instead, the team considered connecting (with one another) the core function of the experience, so they built rooms and spaces where members can meet, connect and chat.  IMVU has achieved large scale usage.  At any time of the day, there’s usually 100,000 (or more) users logged into the system.  And while there’s no single “world” connecting them all, a user can find and connect with any other user who’s online.

User Generated Content as Key Enabler

How has IMVU achieved their current run rate?  User generated content.  IMVU generates very little of the virtual goods for sale in their marketplace.  Instead, it’s the community that creates the virtual goods for sale.  Durrett noted that IMVU could have hired a staff of developers to create the 100,000+ pairs of womens’ shoes available in IMVU.  But at the end of the day, they wouldn’t know if users liked those shoes.

And, that would have covered just shoes.  The way to scale to the wide assortment of goods now available is to open up the creation to the users.  With so many goods available, how do users find the items they want to purchase?  Durrett noted that like any online retailer with a large inventory, intelligent tools need to be built, a la Amazon’s recommendation service.  IMVU can recommend new items to you based on your past purchase patterns.

Competition Drives Engagement

Durrett described how IMVU creates daily contests based on pre-determined themes.  Users dress up their avatars in the particular theme and then submit a snapshot (image) of their avatar.  The community votes and the top avatars are displayed on a leader board.

To appear on the leader board, the reward is “virtual” (i.e. recognition, rather than cash, virtual credits, etc.).  And yet, the contest creates an intense amount of interest and competition from the community – a great thing from IMVU. If members happened to admire a particular user’s outfit, they could purchase all the items in that outfit with a single click.

Expanding the Inventory

Expansion of virtual goods inventory will be a key driver to IMVU’s continued growth.  They already make user generated music available (in MP3 form) and they recently launched games.  For games in particular, it will be interesting to see if IMVU creates inventory items around game status and advancement, as is common in many of today’s social games (e.g. FarmVille).

While IMVU does not support user generated games today, that could  be an interesting avenue of growth.  They’d probably want to review and certify submitted games, to prevent malicious activity from occurring.  In this manner, they could create a sort of iTunes App Store for games.

Related Links

  1. Interesting and related presentations from Brett Durrett (SlideShare)
  2. TechCrunch: IMVU’s Virtual Cash Cow: Doubling Revenues, Focused On Gaming (Video)
  3. Virtual Worlds News: IMVU Hiring, Anticipates $60M Run Rate

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Posted by Dennis Shiao

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