The Biggest Virtual Events Opportunity No One Is Focusing On

January 23, 2012

Introduction

Let’s talk opportunity, by way of an analogy. Amazon.com. Consider that at this moment in time, Amazon’s users have thousands (if not millions) of items in their shopping carts. Combined, I have to believe that the aggregate (but untapped) value of Amazon users’ shopping carts is in the millions of dollars.

Now, let’s consider virtual events. For public-facing virtual events, the average attendance rate is 35-50%. If a virtual event generates 10,000 registrations, let’s be generous and say that half of those registrants (5,000) attend the live event.

E-tailers like Amazon would love for you to take the contents of your shopping cart and “check out.” Virtual event planners need to focus on the 5,000 users who didn’t attend the live event and get them to “check out” (the on-demand archive of the event).

These “no shows” are an enormous opportunity for every virtual event planner, but I don’t see enough effort around this opportunity. So here are tips to get your registrants to “check out” (your event).

The basics: a follow-up email.

Imagine that users registered for your virtual events two months prior to the live date. You’ve scheduled reminder emails, but the users missed them. When your live event comes around, users have forgotten about it. This means that they’re also not aware that an “on-demand archive” exists. Sending a “Sorry we missed you” email is easy to do and gets you immediate results. Invite your “no shows” to experience your event “any day, any time.”

Scheduled webcasts.

Plan an editorial calendar in advance, which includes a few presentations after the live date of your event. Did you covet particular speakers, but they weren’t available on your event’s date? If so, plug them in to the post-event schedule. And, make sure you invite not just the “no shows,” but folks who attended your live event as well.

Scheduled chats (Experts).

Re-feature some of your presenters and invite them back for a 2-hour, text-based chat in your environment. Invite attendees to return and promote this opportunity to “no shows” (e.g. “A great opportunity to interact directly with our featured industry expert.”)

Scheduled chats (Sponsors).

Schedule a few dates to allow sponsors to host chats in the on-demand environment. This could be a nice up-sell feature in your sponsor packages. Note that sponsors tend to generate less response (attendance) as your experts, so plan accordingly.

Email Alerts for New Content.

Did sponsors upload fresh content? Or, perhaps a featured presenter provided an updated slide deck from her webinar. Send an email out, alerting users that new content is available in the environment. Don’t do this too often, of course – and, be sure to include an opt-out link, so recipients can be removed from subsequent mailings.

Activate Social Games.

Find some prizes, then activate a few social games. The games require that users login to the environment, engage with content and engage with one another. It creates fun for the users and active engagement for you (and your sponsors).

Conclusion

Just because users took the time to complete your registration page, doesn’t mean they’re “sold” when your event comes around. Utilize your event and its content, however, to “re-sell” the event to non-attendees. If you sell it well, your users will empty their shopping carts … and buy in.

Note: I invite you to connect with me on .

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Posted by Dennis Shiao

How Facebook’s Latest Changes Point To The Future of Virtual Event Experiences

October 24, 2011

Photo source: ivanwalsh on flickr.

Introduction

Have you heard? Facebook announced a set of changes to its service. Some changes are active now, while others will be rolled out in the coming weeks or months. Previously, I wrote about why Facebook is the world’s largest virtual event. Looking at the changes Facebook announced, I think that some of the new features should be adopted by virtual event platforms, to improve the user experience. Let’s take a closer look.

Subscribe (for Personal Pages)

You can now subscribe to a user’s personal page without having that person “friend” you back (a la the “follow” on Twitter). This feature is useful for celebrities who have a personal page, but no associated brand page. Where can this be useful in virtual events? Allowing attendees to subscribe to exhibitors in virtual trade shows.

The “subscribe” action creates a much more valuable “relationship” (to exhibitors) compared to the booth visit, document download or document view. By subscribing to an exhibitor, I see “status updates” that they post during the life of the event. This forces exhibitors to:

  1. Publish content (status updates, special offers, etc.) during the event.
  2. Have an ongoing conversation with you, without the pressure for you to respond back.
  3. Be useful to you.

I “Like” it.

The New Timeline

While not yet rolled out, the Timeline replaces your Profile page. It’s an auto-generated, visual summary of your entire life (on Facebook). It provides you with a “scrapbook on life,” and could be a convenient way for your Facebook friends to quickly check out what you’ve been up to.

Virtual events should create an “Event Timeline” that’s dynamically updated throughout the event. As with the Facebook Timeline, certain events are condensed, especially those that happened in the past. The Event Timeline could include:

  1. A listing of all sessions.
  2. Activity updates (e.g. the 1000th user just logged in; 500 attendees viewed this session; etc.).
  3. Announcements.
  4. Special offers from exhibitors (e.g. sponsored listings).
  5. On-demand content (e.g. a prior session that is now available on-demand).

Top Stories

If something happened a week ago that Facebook deems noteworthy, it wants to keep that event (e.g. a status update from a family member) in the Top Stories section atop your News Feed. Virtual Events can leverage this concept alongside the “Event Timeline” (discussed above). An event’s Top Stories could include:

  1. The most viewed sessions.
  2. The most downloaded documents.
  3. The most popular users (e.g. most connections, most friends).
  4. The most active users (e.g. most chat postings)
  5. The most visited areas of the event.

The Ticker

Facebook’s Ticker resides on the right side of your News Feed and lists interesting things that your friends have done. For a one-day virtual event, it’s not likely that I’m going to build out a significant list of friends or followers. So instead, a virtual event’s Ticker could simply be a updated and scrolling area that displays the Event Timeline and Top Stories (discussed above), as they unfold.

Bonus Item: iPhone 4S Assistant

Apple recently launched its iPhone 4S, which includes an Assistant (Siri). You speak to Siri, it understands what you say and it attempts to perform the actions youv’e asked it to do (e.g. find a restaurant, give me directions, etc.). We need a Siri personal assistant (activated by voice commands) for virtual events. And of course, it needs to work on smartphones and tablets.

Conclusion

Facebook is “always on” to its end users, who use it day and night and all year round. Virtual events tend to be “point in time” occurrences that happen on a single day, or over a few days. While it’s interesting to consider these concepts, their value will surface only if applied correctly. That being said, let’s get to work.

Related Resources

  1. David Pogue of The New York Times writes “Facebook Changes Inspire More Grumbling“
  2. Learn more about the iPhone Assistant (Siri).
  3. My thoughts: Why Facebook Is The World’s Largest Virtual Event

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Posted by Dennis Shiao

A Flight Attendant Call Button for Virtual Events

April 22, 2011

Introduction

On a recent flight, the passenger in front of me pressed the flight attendant call button as we neared cruising altitude.  As I heard the “ding” and saw the light turn on, a light bulb came on in my own head.  The pressing of the call button sends two signals:

  1. “I’m here”
  2. I need assistance (i.e. “Please engage with me”)

Let’s consider how a flight attendant call button can be added to virtual events.

Technical Support

To receive technical support in a virtual event, you need to go find help, usually in the form of a Help Desk.  On an airplane, it’s more efficient for the help to come to you – far simpler than having you get up, disturb the passengers in your row and walk down the aisle.  In a virtual event, you’re often busy viewing sessions, engaging with exhibitors or chatting with fellow attendees. Wouldn’t it be so much more convenient if the help would come to you?

Virtual events could include a “call button” that attendees could click.  Staffers providing technical support at the event would see the attendee added to a queue, along with an audio cue (the “ding”).  Attendees could be provided with the option of including a one-sentence description of their issue, prior to clicking the call button.  From here, support staff would connect directly with the requesting user, to assist them one-on-one.

Engage with Exhibitors

Similar to “technical support finding you,” attendees looking to engage with multiple exhibitors could opt in to invite exhibitors to connect with them.  An “exhibitor call button” could be clicked that would signal to all booth staffers that particular attendees could be contacted.

If an exhibitor engaged with a requesting attendee via private chat, the “call button” would be turned off, until that private chat concluded.  In many ways, this mechanism would be more efficient for attendees, compared to visiting assorted booths and engaging with the staffers in each one.  A more sophisticated call button could allow users to specify which type of exhibitors they’d like to engage with.

Engage with Attendees

Engagement with other attendees is typically done via group chat and private chat.  But how do you know whom you should have 1:1 chats with?  An attendee call button could let others know, “I’m here” and  “engage with me.”

The attendee call button could include a one-sentence description of the user’s interests.  All users who pressed the call button could be listed in a Lounge – and mousing over the users’ profile images could display their names, titles and one-sentence descriptions.  The attendee call button can spur more connections and networking than the typical Networking Lounge.

Conclusion

All too often in virtual events, we “venture out” to find people and information (e.g. exhibitors and attendees). Instead, a simple call button could turn the tables, allowing the people, at least, to come seek you out – and engage.

What do you think – would you use the call button feature  in a virtual event?  Leave a comment below.

2 Comments | Virtual Events | Tagged: , , , , , | Permalink
Posted by Dennis Shiao

A New Approach to Virtual Trade Show Booth Surveys

April 19, 2011

Introduction

Surveys should not be difficult to operate! Too often, however, they are. For virtual trade shows, booth surveys can complement the demographic data (collected during registration) with psychographic data to help you further qualify your virtual trade show leads.  In this post, I introduce a new approach to the virtual trade show booth survey.

Make it Fun

Surveys are no fun.  As a first step, don’t call your’s a “survey”.  If you sell B2B products, call it a “Readiness Assessment” instead. Then, make it fun. Introduce a host or hostess (audio voiceover) who talks to the end user after each step, cracking jokes along the way.

Develop humorous text or imagery, to encourage users to unmute their speakers.  After every few questions, pipe some humor into the process. For instance, insert a text bubble that reads, “4 out of 5 of virtual event attendees surveyed indicate that they … dislike surveys!”

Provide Instant Feedback

When you complete most surveys, the feedback you receive is, “Thank you for participating in our survey.”  The new approach to the booth survey leverages numerical weightings to each multiple-choice answer.  You design the survey questions (and the answers), so that the answers are summed up to a total “score.”

Next, capitalize on the current popularity of badges (a la Foursquare) and assign ranges of scores to custom-designed badges.  For instance, in our B2B Readiness Assessment, the badges could be:

  1. The Dunno Badge (“I don’t know if I’m ready or not”)
  2. The Boyfriend Badge (“I don’t know if I’m ready to commit”)
  3. The Trooper Badge (“I think I’m ready, let’s do it”)
  4. The Honeymoon Badge (“Let’s skip straight to the honeymoon”)

(Note: use of sarcasm for demonstration purposes – may not be appropriate for a B2B setting.)

Your Ticket to Lead Qualification

When you designed your survey questions to add up to a score, did it seem like lead scoring?  It should have!  Just as you’d calculate an “A lead” based on their activity in your virtual booth, you badges become a form of a lead score.  If you’re implementing lead scoring for your booth visitors, you can augment scores with badge information.

For instance, “A leads” who completed your survey and received the “Honeymoon Badge” are the cream of the crop.  They receive higher priority than other “A leads” who received the Trooper, Boyfriend or Dunno badges.

Be Prescriptive on Next Steps

Surveys provide little to no information on next steps.  Since your survey is labeled a “readiness assessment,” you ought to prescribe the next steps to the user.

Our new approach assigns a specific piece of content to each badge.  For instance, users with the Dunno Badge receive the “Widgets for Dummies” eBook, while Honeymoon Badge users receive the “Widget Implementation, Volume I” white paper.  By giving users a clear follow-up plan, you’re delivering tremendous value in exchange for filling out the survey.

Conclusion

The new approach to booth surveys can create a win/win/win scenario.  First, by making it enticing and fun, you generate more survey completions. Next, by mapping each survey responder to a badge, you provide instant lead qualification (which helps you).  And finally, by prescribing a follow-up plan for each badge, you provide value back to the user, while conveniently leading them down the sales cycle.

2 Comments | Lead Generation | Tagged: , , , , , , , , | Permalink
Posted by Dennis Shiao

How Your Virtual Event Can Benefit From Personalized Guides

March 2, 2011

Add Personalized Guides to Your Virtual Event

Introduction

In virtual events, there are staffers to “patrol” the event and assist attendees who have technical and logistical issues.  Beyond the logistical matters, however, how much do event planners invest towards the end-to-end attendee experience?

And, how often do staffers provide tips and guidance on the more strategic elements of an event: which sessions to attend, what content to download, which exhibitors to visit and which attendees to meet with? The answer: probably not enough.

An Idea, Sparked by Metaverse Mod Squad

I was struck by this missing element while reading a New York Times article, “A Patrol for the Web’s Playgrounds.” The article profiles Metaverse Mod Squad, a company that provides clients with moderators to “patrol” their web sites and virtual worlds.  Amy Pritchard (@AmyMMS), the company’s chief executive, had a great quote:

“We found if we greeted people, told them what they could do, gave them an event card and introduced them to other people, they had more fun.”

I think the same benefit can apply to B2B virtual events, where “fun” (in the sentence above) could be replaced with “getting more value out of the event”.

Benefit #1: Better Orientation of New Visitors

After logging in to a virtual event, attendees typically see a video greeting, either in an embedded video player, or via a host/hostess who was filmed against a “greenscreen” and overlaid on top of the environment.  The “New Greenscreen” are real, live “greeters”, who welcome visitors to the virtual event and chat with them, either via text or audio/video.

The “New Greenscreen” is like a host or hostess at a cocktail party.  They take your coat and point you to where the action is happening.  To support large audiences, the greeters can hold group sessions.  They can let the gathered audience know “what’s hot” (e.g. details on the session that is coming up next) and ask attendees what they’re looking to get out of the event.

As they learn more about the visitors, the greeters can suggest exhibitors to visit, sessions to attend and event content to download. Already, you’re providing attendees with a lot more usefulness than the typical video greeting, which is targeted to a broad audience and not an individual (who has unique needs and goals).

Benefit #2: Better Connect Attendees to One Another

A significant benefit of events (whether they’re physical or virtual) is the ability to network with like-minded (or perhaps different minded) attendees. In a virtual event, I may “seek and find” other attendees via social network integration, via group chat and perhaps via search.  But the connections are somewhat random and serendipitous.

The event’s personalized guides could serve as “business-oriented matchmakers”, pairing attendees with one another. I once attended a physical networking event and told the host that I work in the Marketing function at a start-up.  She immediately introduced me to a consultant who helps companies launch new  products – and, asked if my company was looking to hire, since there were executive recruiters in attendance.

Without the proactive host, my introduction to the consultant may never have happened. In a similar way, the personalized guides, upon understanding attendees’ business goals (and challenges), could pair them with exhibitors whose products or services address those challenges.

The guides could have a special designation on their profile (analogous to wearing a “Staff” shirt at a physical event), so that attendees know to accept their chat requests – and, so that they can be proactively contacted by other attendees.

Benefit #3: Get Help from the Concierge(s) at The Information Desk

Personalized guides would all have their “presence indicators” (i.e. whether they’re online) appear at The Information Desk. This area becomes the one-stop shop for both technical support and “concierge” services.  Need a recommendation between the two sessions airing simultaneously? Visit the Information Desk and get an informed opinion.

Looking for exhibitors who provide certain solutions?  Ask your friendly guide at The Information Desk.  Looking for that “kitchen design consultant” to map out the schedule and activities for your entire day?  No worries, the concierge at the desk who assemble a “user journey” for you.

Conclusion

Virtual events do not employ this sort of service today, but I think that attendees will find it valuable. Of course, doing this will result in additional cost for the event producer, but it may pay off in the long run, based on attendee satisfaction.  Let me know your thoughts in the comments section below – will this work?

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Posted by Dennis Shiao

Book Supplement: Virtual Event Lead Management (#leadmanagement)

January 22, 2011

Introduction

In “Generate Sales Leads With Virtual Events,” Chapter 6 is titled “Score and Follow Up with Leads”.  This really could have been Chapter 7 – and instead, Chapter 6 could have focused on important steps to consider before scoring.  Before you import your virtual event leads into your CRM system, consider these important steps first.

Step #1: Beware of the “Drive-By Viewing”

Someone visited your virtual booth – congratulations! Not so fast.  Make sure the booth visit was not a “drive-by viewing”.  I define a drive-by viewing as:

  1. One (and only one) visit to your booth
  2. “Visit time” of 5 minutes or less
  3. No engagement with others while in the booth (e.g. group chat, private chat)
  4. No interaction with booth content (e.g. booth tabs, documents, links, etc.)

I see plenty of drive-by viewings from booth visitors. Some visitors simply want to see which companies are exhibiting at the virtual event.  And, some virtual platforms have “previous” and “next” buttons in the virtual booths, which means that drive-by visitors may simply be doing a quick tour of all booths.

Drive-by visitors are not leads – they’re NAMES!  My recommendation for drive-by visitors:

  1. Go ahead and import them into your CRM system
  2. Schedule a “thanks for visiting” email
  3. Using simple text links, provide them with a few options (e.g. receive more content, schedule an appointment, etc.)
  4. Respond accordingly – and, if they do not open the email or respond to the offers, cease communications [for now] and nurture them over the long term

Step #2: Beware of Existing Leads and Business Partners

Your virtual event leads can look like a pile of dominoes.  You may not be aware that within that pile of dominoes are existing sales prospects, along with current customers and business partners.  When you exhibit at a virtual event, your sales team is inclined to invite current prospects to come visit – and, your existing customers and partners are inclined to stop in to see what’s new.

Warning: LEAD IMPORT CAN BE DANGEROUS TO YOUR HEALTH.

If you don’t manage your leads well, you may import “hot prospects” (who are already in your CRM system) and trigger a follow-up email to them.  The result is a turning back of the clock with those prospects – imagine finalizing your purchase decision, only to have one of the potential vendors call on you and ask if you’re in the market for their product!

Personal Story: I attended a virtual trade show and did a “drive-by viewing” through an exhibitor’s booth.  I’ve been a long-time subscriber to this exhibitor’s email newsletter and know some of the employees there.  My drive-by viewing was done simply to see who was staffing the booth.

A few days later, I received an email from the exhibitor, asking if I’d like more information.  This exhibitor probably should have known that I was a long-time subscriber – and, routinely click on the links in their newsletter.  Given this, the follow-up should have been more tailored, or skipped entirely.  If I was contemplating a purchase  decision with this exhibitor, that follow-up email could have cost them my business.

Step #3: Build and Import Engagement Profiles

Virtual event platforms have built-in RFID, which means that all interactions from sales prospects (with your content) are tracked and recorded.  The platforms assemble a detailed “engagement profile” for you – the worst thing you can do is throw away that profile when the lead is imported into your CRM system.  My guess is that the majority of marketers today do just that.

Instead, create custom fields in your CRM system to capture this data (e.g. number of visits, documents downloaded, transcripts of chats, etc.).  The more data, the more informed your sales team.  Just like an auto insurer reviews your past driving record and a loan officer reviews your past credit history, your sales team should have the benefit of a prospect’s past engagement data.

Step #4: Curate Leads as You Would Fine Art

You can automate portions of lead management, but you can’t automate the entire process.  It’s easy to automate the de-duping process, which ensures that new records are not created in your CRM system when there’s an existing lead record.

However, it’s not as easy to automate the business intelligence that needs to be applied to your leads (e.g. you can’t do AI on your BI). Examples of business intelligence rules:

  1. Knowing (and spotting) competitors
  2. Knowing (and spotting) existing business partners
  3. Knowing (and spotting) industry experts, analysts, media [who should not be followed up with]
  4. Spotting “creatively submitted” leads, such as “Mick E. Mouse” or “Barack Obama”

Sure, you can automate part of this by filtering on a list of company names, but there are bound to be some leads that slip through the cracks.

For instance, users may have a typo in their company name – or, may list their company differently that what you’ve entered in your filter list.  Your leads are the lifeblood of your business, so you should curate them as if they were fine art.  This means that manual review will always be a part of the lead management process.

Conclusion

Lead Management is not easy.  However, perform these steps before your first virtual event lead hits your CRM system – and you’ll be better off.  Your sales team will receive a far higher percentage of qualified leads – and they’ll thank you for that.

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Posted by Dennis Shiao

What Virtual Events Can Learn From Groupon, Quora and FarmVille

December 18, 2010

Introduction

Successful web sites provide a great opportunity: the chance to study what makes them successful and apply those learnings to your own websites or applications.  In 2010, three of the “most talked about” web sites were Groupon, Quora and FarmVille (though FarmVille is more a discrete app, rather than a web site).  Let’s consider how some of their concepts can be applied to virtual event experiences.

Groupon


Groupon is said to be in the local advertising space, but they’re really much more than that.  They’ve hit the mark with a group buying phenomenon (using bulk purchasing to drive down prices) combined with creative and entertaining email copy that keeps subscribers eager to receive the next day’s email.

Groupon, which serves local businesses, segments their offering by geography.  So I might subscribe via San Jose, CA and receive offers from merchants who are near me.  But the Groupon model could certainly apply to national or even global brands.

Group Viewing at Virtual Trade Shows

Now, let’s consider a common dynamic at virtual trade shows.  Exhibitors (sponsors) would like to get their message across to attendees, while attendees are resistant to hearing unsolicited product pitches.

How can you “arbitrate” this situation?  Consider Groupon, where the “daily deal” only registers when a certain number of users agree to purchase the item(s).  Here’s how it might work with sponsor presentations (webinars) at a virtual trade show:

  1. Five sponsors list their webinar title in the trade show Auditorium
  2. Each sponsor is “on alert”, ready to begin broadcasting their live presentation
  3. No presentation begins until it receives 50 (or more) viewers
  4. The presentation continues, only if it can continually sustain 35 simultaneous viewers – if it drops below 35 viewers for more than 5 minutes, the presentation closes

Benefits

  1. Puts portions of the presentation agenda in the hands of attendees
  2. Forces sponsors to present on relevant topics
  3. Forces sponsors to “deliver what they sold” with regard to the presentation
  4. Ups the overall quality of sponsor presentations, as sponsors need to both “sell” the topic and sustain the audience

Quora

Quora is “a continually improving collection of questions and answers created, edited, and organized by everyone who uses it.”  Question and Answer (Q&A) services have been around for some time. Quora has picked up steam in 2010 due to the quality of the members participating (e.g. some of the leading thinkers on the web – and in Silicon Valley).

In virtual events, experts and leading thinkers in a particular industry have gathered online.  They can listen to featured experts (e.g. the presenters), but the event doesn’t fully extract and share the collective knowledge of those assembled. If done right, a Q&A service layered on top of a virtual event can be quite useful.

In fact, let’s consider a related Q&A service, Aardvark, which is now part of Google.  With Aardvark, “you email or instant-message your question to Aardvark, it figures out around half a dozen people you know who might have a good answer, then emails or IMs them for a response and sends what they say back to you.” (source: VentureBeat article).

A virtual event platform could implement a “Quora meets Aardvark” model, whereby questions are distributed to online attendees – and answers are fed back in semi-real-time.  Questions (and their answers) could be shared not only with the requester – but, all attendees, based on their selection of particular topics.

FarmVille

On the surface, FarmVille is about planting your virtual crops and tending to your virtual farm.  But below the surface, its “power” is in the psychological reward of achieving success in something you take pride in.  It’s the same dynamic that fuels entrepreneurs (who take pride in their businesses) and Twitter power users (who take pride in their following).

As virtual events shift from “point in time” live events to “365 day communities”, the challenge becomes how to sustain an ongoing and active community – who will visit the environment on days where absolutely nothing is scheduled.  It’s the same challenge Zynga had – how do you incent farmers to tend to their virtual farm each day?

Virtual Farm Meets Virtual Community

For virtual communities, there needs to be a parallel to that virtual farm – an abstraction that allows members to feel psychological reward when they’ve done something meaningful.  Ideas include:

  1. Elevated  member profiles. Turn the “vanilla” user profile of today into the parallel of the virtual farm
  2. “Pimp my space”. Exhibitors get to build booths – now, allow attendees the freedom to create their own spaces and receive ratings on them
  3. Leverage “status badges” on the profiles – but ensure that demand consistently outstrips supply
  4. “Rate the ratings” – allow members to rate the worthiness of a rating (a la Amazon.com, and “Was this review helpful to you?”) – top rated members receive elevated status in the community
  5. Prominent Leaderboards related to particular activities, games, etc. – these can be a tremendous draw, as users continually return to check on their position on the board

Conclusion

Groupon, Quora and FarmVille have taught us some valuable lessons.  The rising demand for virtual events tells us something as well.  Aardvark may have hit upon the right model – in which they combined social collaboration with a real-time (or semi-real-time) component.  Perhaps Grouopon and the like have something to “learn” from virtual as well.

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Posted by Dennis Shiao

Your 5 Step Guide to Virtual Trade Show Success

November 13, 2010

Over on the INXPO blog, I provided a 5-step guide to exhibiting at virtual trade shows.  The five steps are:

  1. Define your mission statement
  2. Assemble an all-star team
  3. Build and promote your presence
  4. Engage with prospects
  5. Qualify and follow up with prospects

If you’re exhibiting at a virtual trade show for the first time, follow these steps and you’ll be on the right track.  Here’s a link to the full posting:

Exhibiting at Virtual Trade Shows: Your Five Step Guide

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Posted by Dennis Shiao

2011 Predictions For Virtual Events

October 30, 2010

As we head into the final 2 months of 2010, it’s time for another round of predictions.  First, let’s review my 2010 predictions:

  1. The 2010 Predictions for Virtual Events
  2. The Mid-Year Report Card on the 2010 predictions
  3. A posting on the Future of Virtual Events

I assigned myself a mid-year grade of B.  And now, I’m designating a final grade of B-.  I hope to improve in this year’s predictions.  To assist with my predictions, I invited a few experts from the community to chime in, so I’ll be including their predictions with my own.

Market Expansion

To date, “market expansion” has meant a growing number of “pure play” virtual event platform providers.  In the US, we started with a handful of major vendors and we’ve seen new entrants into the market in 2009 and 2010.  We also saw the emergence of platforms outside the US, notably in Europe – and in 2009, in Asia Pacific as well.

For a large Requests For Proposal (RFP) in 2009 and 2010, the virtual event platforms knew whom they were competing against (each other).  Starting in 2011, it gets cloudier (pun intended), as the blending of virtual, social and Enterprise 2.0 means that a wider set of vendors are vying for the same business that virtual platforms got in 2010.

Consider the following vendors, each of whom has offerings that (in part) look, feel and smell like virtual events or virtual business communities:

Jive Software, Yammer, Pathable, Facebook Groups, Socialtext, SharePoint (Microsoft) and Lotus (IBM).

Virtual event platforms can expect to sell against some of these players in 2011 and some platforms may go the partnership route, to build a combined offering as a competitive advantage.

Service Level Agreements (SLA)

The virtual events industry is at a point in its growth where Service Level Agreements (SLA) make a lot of sense.  With a growing number of vendors, SLA’s help separate the contenders from the pretenders – if you’re offering money back (or a credit) if an event fails, then only the strong will survive.

I predict that one vendor will lead the way and proactively hit the market with an SLA – forcing others to follow suit later in 2011.  Expect SLA’s around availability and simultaneous users.

Later in 2011 (or perhaps in 2012), SLA’s will be defined around “quality”, such as response time.  This development helps the market – the assurance provided behind an event allows the market to expand, attracting new customer growth that exceeds 2010’s figures.

Market Upheaval

Market expansion and SLA’s mean the strong get stronger. But lesser platforms have a challenging year ahead. According to Cece Salomon-Lee, Principal at PR Meets Marketing, “some players will be bought by larger organizations, merging to bring together complimentary strengths or even some disappearing from the industry all together. No matter how, we will begin to see some consolidation within the industry.”

Meanwhile, Miguel Arias of IMASTE believes that US platforms will look abroad for acquisitions.  To “gain presence, customers and market knowledge” in Europe, Latin America and Asia, Arias believes US platforms will look to partner or acquire in-country platforms in those same regions.

In my mind, there is an enormous, (largely) untapped market within the US, which means that US-based platforms will continue to focus domestically in 2011.  Global expansion will occur in 2012 or beyond.  In addition, due to the “strong get stronger” phenomenon, I predict that one of the prominent US-based platforms will cease operations in 2011 – or, be sold at a below-market price.

Technology A La Carte


Today, virtual event platforms are “monolithic” – you enter an event and all of the functionality provided by the platform sits within that event.  You can’t experience the platform’s features outside of an “event”.  In my futures column, I predicted that virtual events “move closer to the end user”.

Driven by market demand, platforms will “break out” pieces of their technology platform in a la carte fashion. Customers who do not need a five course meal may opt just for an appetizer and coffee.  This may surface in a number of ways, including:

Thin desktop clients, mobile apps, browser toolbars, virtual booths embedded in banner ads, group chat embedded on a web page, etc.

Hybrid Innovation & The Year of the Hybrid

In 2009, some INXPO colleagues and I predicted that 2010 would be The Year of the Hybrid.  This was partially true – in fact, Cisco received the 2010 Grand Ex Award for their hybrid approach to Cisco Live and Networkers. However, the mass adoption of hybrid events (that we predicted) did not ring true.  But that’s OK, it’s always better to be a year early than a year late.

Event and experience marketing agencies have adopted virtual in varying degrees – 2011 is the year where they demonstrate the most aggressive push to date.  You’ll see strong adoption from the “big brands” in 2011 and it will come by way of these channel partners to the virtual event platforms.  2011 will set the foundation for growth – with “hockey stick growth” coming in 2012.

Another major adopter in 2011 will be associations. They’ve done a number of virtual events to date – in 2011, you’ll see 200%+ growth.  Local chapter meetings will continue to occur at physical locations, while the annual, national chapter meeting of the association will move to a hybrid event, with the virtual component serving those members who were not able to make it to the physical gathering.

More generally, 2011 will see innovative technologies that blend the virtual/online world with the real world.  And these same technologies will be integrated into hybrid event experiences, blurring the lines between physical and virtual.  I’m referring to location based services (LBS), mobile, augmented reality and QR codes.  Expect to see a lot of hybrid events innovation, which benefits everyone.

Miscellaneous Predictions

From Miguel Arias, “After some virtual events vendors, marketers and event organisers have shown in 2010 with successful case studies what are the benefits of virtual events we will see much more events and movements in Europe and South America specially.  I expect a 250-300% growth of the total market size in those regions.”

From Cece Salomon-Lee, “I believe the players that will remain on the landscape will begin building out an ecosystem of services to plug-and-play on the platforms.”

From Miguel on vendor specialization, “With more vendors in the space and more clients asking for more tailored solutions we will probably see a leader in the corporate events environment, a leader in the generic trade show market, other for hybrid events, for virtual career fairs, etc.”

Conclusion

I’ll sum up this piece by using a number of nouns to describe what I expect to see in 2011: innovation, shake-out, growth, change, adaptation, expansion, excitement.  Check back here in 6-8 months for my mid-year report card!

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Posted by Dennis Shiao

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