For those of us in marketing and sales – particularly involved in the commercial market segments – the COVID-19 pandemic brought the function of tradeshow marketing to a screeching halt, as one event after another in 2020 was either canceled outright or “re-imagined” as a digital-only program.
The impact on the convention business has been severe — and it’s had ripple effects throughout the wider market as well. As Tori Barnes, head of public affairs and policy at the U.S. Travel Association, has noted:
“When a large convention or event is happening, the entire city is involved. Whole downtowns have been revitalized due to the meeting and events business, and they’ve really struggled this past year.”
But now that COVID vaccines have been approved and are beginning to be distributed, the question is, “What’s the road back for trade shows?” Will they return to the “old normal,” or are they forever changed?
Those issues were studied recently by the Center for Exhibition Industry Research (CEIR), which posed a group of questions to ~350 executives of exhibition-organizing companies. The results of the CEIR research suggest that the future of trade shows will likely be a hybrid model of digital and in-person event activities — often as part of the same program.
According to the CEIR findings, “education” was the biggest driver of virtual events run during 2020 – and by a big margin. When asked to cite the most important reason organizers think that professionals attended their virtual events, the top three responses were:
- Education for professional or personal development: ~33%
- To keep up-to-date with industry trends: ~11%
- To fulfill professional certification requirements: ~10%
Collectively representing ~54% of the respondents, it would seem that all three of these reasons lend themselves equally well to digital events as to in-person meetings. Indeed, in some cases virtual events might be preferable in the sense that digital presentations can be viewed multiple times, if desired, for educational purposes.
By contrast, three other reasons were cited that are generally better-realized through in-person trade shows or conferences. But collectively they were mentioned far less frequently by the respondents:
- To see or experience new technology and/or new products: ~9%
- Professional networking: ~8%
- The ability to engage with experts: 4%
From the vantage point of their experience in 2020, only a small minority of the exhibiting-organizing company respondents to the CEIR survey research reported that they planned to discontinue virtual-event efforts once the pandemic subsides (just 22%).
A much larger percentage – nearly 70% — anticipate that virtual/digital activities will remain (or become) a bigger component of their events going forward. In other words, hybrid events.
It would seem to be the best solution all-around for future trade show success. Offering more digital options within a larger event program will enable people who aren’t able to participate in-person due to schedule conflicts, or simply because of the unease or hassle of traveling to them, to actually do so.
The experience of 2020’s virtual events also suggest that there are some notable differences in terms of event size and duration — namely, virtual events tend to be smaller in size and shorter in duration than a similar in-person event:
- The average session length of an in-person education event was 70 minutes, compared to under 60 minutes for a like digital event.
- The average number of hours per day for an in-person event was eight, versus just six for a virtual gathering.
Another finding of interest from the CEIR research pertains to which industry segments the exhibition-organizing personnel consider most open to embracing digital event tools. More than four in five respondents felt that virtual events in the finance/insurance/real estate segments will become an ever-increasing component of physical events in the future. It was nearly as high – 74% — for events happening in the field of education.
No doubt, we’ll be learning more about the changing dynamics of trade shows over the coming 12- to 24-month period. As we await the “larger perspective” to emerge, what are your thoughts about how your own personal participation in trade shows will change — and will those changes be temporary or permanent? Please share your perspectives with other readers here.