2010 virtual event report
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Over 800 event industry insiders were surveyed about their views and experiences with virtual events. Key findings showed that most respondents found virtual events to be successful (74.9%) and that over 78% believe virtual events have the potential to generate revenue. Respondents also felt that virtual events complement and augment physical events rather than replacing them.
2010 virtual event report
- 1. 2010 Virtual Event Report Insights and Trends from Industry Insiders
- 2. Survey Methodology Over 800 respondents comprised of event industry insiders. Online survey with 14 key questions. Survey period: mid April to mid-May, 2010.
- 4. People Find Virtual Events Worthwhile While virtual events are still evolving in terms of their utility and format, the majority are already viewed as successful, according to 74.9% of respondents. This is a strong number for such relatively new technology and it certainly lends tremendous credibility to the perceived value of such events-Next year, it will be interesting to see how many of the remaining 26.8% will change their minds. "Revenue can be generated from sponsorships, ads and booth sales and attendees who couldn't make it to the actual show are able to take part online, which leads to a larger global audience. Reducing a company's carbon footprint, with the absence of paper, directories, etc. is a marked trend which cannot be ignored. At TSNN, we find it beneficial to partner with vendors who will focus on our specific industry. Given that customized edge, the timing becomes right, all the ingredients come together and virtual becomes a reality.“ R.D. Whitney, President of Tarsus Ventures
- 5. Virtual Events Generate Revenue Over 78% believe virtual events may have the potential to make them more money. Many believe they know how, while others would like to know how. As far as the remaining 22.9%, who indicated there was no imminent opportunity to generate revenue, this number can certainly decline, moving forward, as they start to see their industry counterparts utilizing virtual-event technology successfully to make more money. In other words, that number can be largely due to the fact that many are still just learning about these virtual events and haven't really experienced or seen the true value just yet — but they will. Specifically, the 42.2%, who weren't sure and wanted to learn more, indicates a need for more education on how event-industry professionals can make money using these platforms. "Though there are still challenges on the technology side (and I'm not talking about the digits! event platform vendors but corporations that are using old technology like Windows XP and IE6). as new PCs and tablets hit the corporate user's desk and modem browsers get blessed by IT. you will really be able to see what the virtual environments are capable of. Then, you will see a mushroom of adoption of virtual environments for all types of applications across the business and eventually the consumer market space. "The demand for skilled strategic, creative, technical, operations, logistics, learning and content professionals will mushroom, as well, because this technology is only as good as the event or environment's producers." Michael Doyle, Executive Director for Virtual Edge Institute
- 6. Virtual Events Complement and Augment Physical Shows Virtual events don't appear to be taking over physical events as much as they seem to be helping to extend and add value to them. As virtual events continue to demonstrate value, they will be viewed by almost every physical show as a viable means of attracting additional revenue, attendees and reach. "As this report states, Virtual events have arrived and they are here to stay.' I could not agree more. The models of a virtual event or a hybrid event have great merit in extending the brands of a show or an exhibitor's presence in one of these events. As they discuss in this report, this trend is just the beginning. Over the next few years, this form of 'experiencing' content, taking action with exhibitors and building relationships with a unique community will be an everyday occurrence. Joyce McKee, CEO of Let’s Talk Trade Shows
- 7. The survey report entitled “2010 Virtual Event Report: Insights & Trends from Industry Insiders” is now available for no cost at http://www.tsnn.com/2010-virtual-event-report.html .
- 8. / For meeting practitioners, marketers and senior executives who are considering going virtual, researching virtual or seeking to demonstrate the value of virtual, the Virtual Edge Summit is the must-attend conference on the virtual events industry. Learn more at http:// www.virtualedgesummit.com