dispelling the myths of going virtual
DESCRIPTION
The recent economic situation has provided a catalyst for companies to look at cost-effective alternatives to scheduling and executing face-to-face meetings and events. This situation combined with reduced travel and marketing budgets, has given rise to virtual events. A successful virtual strategy reduces costs, increases productivity, extends reach, provides rich data intelligence, and benefits the environment. Yet, meeting professionals are hesitant to incorporate virtual elements into their meetings and event portfolios. Leveraging real-world case studies, this session will dispel several myths about “going virtual”. Get answers to your theories like:• Virtual will cannibalize my physical audience. • Virtual will be a costly element for me to include in my budget. • Virtual will only be used by my most technically savvy members. • Virtual is only for larger corporations.TRANSCRIPT
Dispelling the Myths about Going VirtualPresented by Cece Salomon-LeeNovember 17, 2010
Definition
“A virtual event is an occurrence of people gathering together where some or all of the attendees are not physically in the same location but are connected in a common environment. The common environment might be one of many types but is usually enabled through the use of computers and the Internet.”
- Virtual Edge Institute
VIRTUAL?
CO$T SAVINGS
INCREASED PRODUCTIVITY
BETTER ANALYTICS
GREEN BENEFITS
NOT VIRTUAL??
POLL: How many are using virtual?
Yes, currently using virtual technology No, not using at this timeUnsure when we will
DISPELLING FIVEVIRTUAL MYTHS
Myth #1: Cannibalize My Audience
X XX
XX
EXTENDS AUDIENCE REACH
EXTENDS AUDIENCE REACHAPA: 1900 in person, 1885 virtually
EXTENDS AUDIENCE REACHAPA: 1900 in person, 1885 virtuallyOnly a 7% audience crossover
Myth #2: Cannibalize Sponsors/Exhibitors
X XX
472% of exhibitors find virtual valuable
LIVE
+LIVE VIRTUAL
+LIVE VIRTUAL
= MORE PARTICIPANTSEXTENDED GLOBAL REACH
GE Healthcare – Virtual Exhibit
GE Healthcare – Virtual Exhibit @ RSNA 2009
• Identical to physical booth with 3D renderings
GE Healthcare – Virtual Exhibit @ RSNA 2009
• Identical to physical booth with 3D renderings• Physical event : 10,000 attendees• Virtual Exhibit: 5,000 attendees
GE Healthcare – Virtual Exhibit @ RSNA 2009
• Identical to physical booth with 3D renderings• Physical event : 10,000 attendees• Virtual Exhibit: 5,000 attendees• Average time spent at virtual exhibit: 1.5 hours• Cost 30% less than a flash-based, static microsite
GE Healthcare – Virtual Exhibit @ RSNA 2009
• Identical to physical booth with 3D renderings• Physical event : 10,000 attendees• Virtual Exhibit: 5,000 attendees• Average time spent at virtual exhibit: 1.5 hours• Cost 30% less than a flash-based, static microsite
“This is all about connecting customers to specific GE people“ – GE Healthcare
Myth #3: Co$t$ Too Much
“A virtual event is an occurrence of people gathering together where some or all of the attendees are not physically in the same location but are connected in a common environment. The common environment might be one of many types but is usually enabled through the use of computers and the Internet.”
- Virtual Edge Institute
“A virtual event is an occurrence of people gathering together where some or all of the attendees are not physically in the same location but are connected in a common environment. The common environment might be one of many types but is usually enabled through the use of computers and the Internet.”
- Virtual Edge Institute
Social Media
Social Media
Video
Social Media
Video
Livestreaming
IMTS Uses Social Media to Engage
• Used variety of outlets: Twitter, Facebook, YouTube and SCVNGR
• Organized contests through YouTube videos and game, including:
• 60 Second video sales pitch• Question of the Day• Tweetchats on related topics• Geo-location Scavenger hunt
IMTS Uses Social Media to Engage
“The attendees have specifically mentioned how present social media was and that they want more of it”
- Monica Haley, AMT
Myth #4: Only for Technically Savvy
# of Years
38 years
50 million users
# of Years
38 years
13 years
50 million users
# of Years
38 years
13 years
4 years
50 million users
# of Years
38 years
13 years
4 years
3 years
50 million users
# of Years
38 years
13 years
4 years
3 years
50 million users
9 months
Myth #5: Not as Good as F2F
VIRTUAL AUGMENTS & FACILITATES F2F
“Web-, video- and teleconferencing have their role, but the executives in the survey do not expect them to make the need for face-to-face meetings obsolete. Rather, many see the ideal as a mix of face-to-face and technology-enabled meetings and conferences. (Fig. 9)”
- Forbes
“Web-, video- and teleconferencing have their role, but the executives in the survey do not expect them to make the need for face-to-face meetings obsolete. Rather, many see the ideal as a mix of face-to-face and technology-enabled meetings and conferences. (Fig. 9)”
- Forbes
VIRTUAL AUGMENTS & FACILITATES F2FNOT A REPLACEMENT
CISCOLIVE VIRTUAL 2009• Added virtual component for 2009 event• Survey to in-person and virtual attendees
CISCOLIVE VIRTUAL 2009• Added virtual component for 2009 event• Survey to in-person and virtual attendees• Event messaging very similar: 4.2 vs. 4.3• Both audiences increased familiarity with Cisco
products
CISCOLIVE VIRTUAL 2009• Added virtual component for 2009 event• Survey to in-person and virtual attendees• Event messaging very similar: 4.2 vs. 4.3• Both audiences increased familiarity with Cisco
products
BONUS: 34% of virtual indicated interest to attend in-person event in 2010
BONUS MYTH: NO ONE is Doing It
BONUS MYTH: No One is Doing IT
96% of respondents already using virtual events and meeting solutions
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences• expands and extends reach for exhibitor
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences• expands and extends reach for exhibitor• can easily be added at minimal cost
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences• expands and extends reach for exhibitor• can easily be added at minimal cost• is for everyone
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences• expands and extends reach for exhibitor• can easily be added at minimal cost• is for everyone• augments and facilitates face-to-face
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
DISPELL THE MYTHS: VIRTUAL• expands and extends reach of audiences• expands and extends reach for exhibitor• can easily be added at minimal cost• is for everyone• augments and facilitates face-to-face• is already being used by someone in your
organization
* CWT Travel Institute, “Meetings & Events: Where Savings Meet Success: August 2010
QUESTIONS?
ResourcesPHOTO Credits• By annnna_ via Flickr (Why?): http://www.flickr.com/photos/annnna/2228189828/ • By aoomar via Flickry (unicorn): http://www.flickr.com/photos/zoomar/141098807/• By Adriaan Bloem via Flickr (audience): http://www.flickr.com/photos/bloem/5122399298/ • By photine via Flickr (exhibit hall): http://www.flickr.com/photos/laanba/2273645708/• By world2worlds via Flickr (Cisco virtual booth):
http://www.flickr.com/photos/26718459@N03/2507132656/• By Sebastian Fritzon via Flickr (smoke): http://www.flickr.com/photos/sebastianfritzon/509877265/
SURVEY/CASE STUDY CITATIONS• Smart Meetings, October 2010: American Payroll Association• Champion Exposition Services. “Exhibitor Trends Survey,” October 2010 – 72% of exhibitors find virtual to
be of some value, valuable or very valuable• ComputerWorld, “Avatars Rising in the Enterprise”, April 9, 2010 (GE Healthcare)• TSNN, “Grease, Gears, and Geo-location: IMTS Gets It’s Social Media Groove On”, October 2010• Social Media Revolution: Stats to 50 million • Forbes: Business Meetings – Case for Face-to-Face• Cisco Virtual Environments, “Analysis of a Virtual Event”, September 13, 2009• CWT Travel Institute, “Meetings & Events: Where Savings Meet Success”: August 2010 – 96% of
respondents state that already using virtual events and meeting solutions
Contact
Cece Salomon-LeePR Meets MarketingTwitter: @csalomonleewww.linkedin.com/in/[email protected]