How to Maximize the ROI of virtual exhibitions in 2021
The percentage of virtual events has accelerated ever since the advent of the global pandemic. Whether you talk about conferences, trade fairs, exhibitions, or any other type of physical event, all have been transformed into a virtual space. However, with the shift in event patterns, event marketing strategies have also been evolved. It is one of the most crucial steps to make your attendees aware of your upcoming event and create brand awareness. Additionally, it even helps in fostering meaningful business relationships, partnerships, and more.
With the rise of virtual events during the course of a global pandemic, event planners and marketers started adopting new ways to market and host the event to boost business revenues and achieve optimal results.
Transforming physical exhibitions into virtual ones was the toughest one as exhibitors are skeptical at the start. But, the advantages offered by the virtual event format motivated them to leverage the same. In no time, virtual exhibitions became the top priority of exhibitors and sponsors. Right from extended reach, better accessibility, reduced cost, substantial ROI, virtual exhibitions have much more to offer. However, the merits offered by virtual exhibitions are far beyond the capabilities of traditional formats. Thus, resulting in generating more qualified leads and business revenues in reduced costs. As per the recent survey, 72% of event planners are likely to host virtual events in the coming times.
Virtual exhibitions offer increased ROI, but some organisers struggle for the same as they are not aware of the right strategies. Leveraging the right strategies expedite your virtual exhibition ROI, thus resulting in boosting business revenues. In this article, we will talk about strategies to maximize the ROI of virtual exhibitions in 2021. So, without any further delay, let’s get started!
Strategies to maximise virtual exhibition ROI:
We have listed a few effective strategies below to increase the ROI of your virtual exhibitions. Have a look:
1. Increase the attendance at your virtual exhibitions
Expanding your virtual exhibition attendance is one of the most effective ways to boost event ROI. As virtual exhibitions are not restricted by any constraint of space limitations or geographical barriers, you can easily expand the reach of your event. Allow attendees from around the world to be a part of your virtual exhibitions by keeping settings public. A virtual exhibition platform with no audience cap feature will allow you to host endless no. of attendees. Extended event reach results in better attendance and participation.
Thus, amplifying the chances of generating more qualified leads at reduced costs. As the cost involved in a physical exhibition setup gets completely resolved with virtual event formats. All you need to invest in is the right virtual event technology to host your event. Additionally, if you have monetized your virtual exhibition it will result in more ticket sales compared to in-person exhibitions. Apart from it, brand awareness, more business leads, etc. are some other benefits of virtual exhibitions.
2. Create high-quality content
Curating high-quality content such as blogs, info graphics, and videos and sharing them helps in making your audience aware of your presence. It helps in increasing your audience at the event. If you create good quality content, it will result in building your brand’s credibility and boosting brand awareness. Additionally, it will help in boosting your event ROI. Create innovative and exciting content with the most relevant information that grabs the attention of attendees instantly.
3. Offer more opportunities for audience engagement
Engagements are the crucial aspect to ensure a successful event be it virtual or in-person. As attendees will be accessing your virtual exhibitions via a screen from remote locations, engaging them becomes even more significant. The chances of getting them distracted are relatively high. Thus, resulting in making they leave between the exhibitions. Offer various opportunities for engagement during virtual exhibitions. Integrate live polls, quizzes, Q&A sessions, virtual games, photo booths, and more into your virtual exhibitions. It will help in engaging your audience with the exhibition effortlessly.
Thus resulting in delivering real-life event experiences and generating business revenues. You can even opt to do a quick survey at the event to gain valuable audience feedback. It will help in gaining the understanding of your audience and know their preferences and choices. Information grabbed can be utilised for upcoming future events. If you offer all the possible engagement and networking options to your attendees, you are likely to maximise your virtual exhibition ROI effectively.
4. Create an online ticketing system
When it comes to increasing virtual exhibition ROI, sell exhibition tickets to your potential attendees. It helps in achieving a higher return on investment. If your exhibition has the most promising exhibitors, sponsors, and most talented speakers, attendees won't mind buying tickets to attend the virtual exhibition. As the cost involved in traveling gets completely resolved with virtual formats, buying a ticket to attend an event does not cost much for them.
5. Offer sponsorship packages
Provide various sponsorship opportunities and packages for sponsors at your virtual exhibitions. It will help in boosting revenue flow at your event thus maximising your event ROI.
6. Utilise CTAs (call to action) at your virtual exhibitions
Know the objective of hosting a virtual exhibition and what you want to achieve out of it. Once you are clear with it, you can use CTAs to tempt your audience to do certain actions. If you want to generate leads for your business, you can give CTA buttons asking attendees to sign up quickly for company emails. If your objective is to launch a new product, ask your attendees to register themselves to get virtual swag bags with sample products or branded merchandise. It will help in boosting brand awareness.
7. Utilise your virtual exhibition content for promoting future exhibitions
As virtual exhibitions are streamed Live, they can be recorded easily. The content can be repurposed and used for promoting upcoming events by sharing event glimpses on social channels. Additionally, you can even show the past event highlights in the live event to boost excitement among attendees. Additionally, it will help you to showcase to your attendees what value does the event hold.
Virtual events offer many more benefits and substantial ROI is one of them. By following the strategies mentioned above, you are likely to maximise the ROI of virtual exhibition ROI effectively.