Research Shows Social, Lead Gen Links Create Tipping Point For Virtual Events
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Tighter travel budgets, the explosion social networks and the search for new lead generation tools have all combined to create something of a perfect storm for the virtual event space. According to research from Marketing Sherpa, virtual meetings have increased 37% as an information resource during the first half of 2009, while face-to-face events have declined 30% during the same period.
Michael Wilding, Senior VP of Computer Generated Solutions, which provides the Virtual Events 365 solution, points out that the role of positioning of virtual platforms continues to evolve as social and lead management features are integrated. “The definition of virtual event could probably use some adjusting. It doesn't have to be a day-long replication of a trade show. Many companies are finding effective ways to make shorter presentations and shorter events that live later online," Wilding says. "The lead generation aspect of the virtual event is one of the most important. The tool allows company's sales people to actually score a lead while at the virtual event and then integrate that score into the company's automated lead gen process."
VIRTUAL PLANNING
In an effort to better understand the needs of marketers, virtual events solution provider Unisfair recently conducted a survey of more than 100 marketing professionals, inquiring about their business plans for 2010. 48% of marketers revealed that they are planning to increase their use of virtual events in the coming year. The most popular reasons for adopting virtual events are to extend marketing reach (32%) and increase lead volume (15%). Some of the barriers keeping marketers from embracing the virtual events platform include not knowing how to organize a virtual event, the perception of a complicated set-up process and a lack of a virtual event provider.
“Marketers today are looking to squeeze as much value as possible out of every budget dollar,” said Hoang Vuong, CEO of Unisfair. “As a result, they are relying on marketing programs that increase reach and drive pipeline.”
Other findings from Unisfair’s research include:
- Marketers will be increasing social media outreach (75%), SEO efforts (51%) and email campaigns (49%) in 2010.
- Lead generation and customer retention/engagement are the most critical objectives for marketers today, with 60% and 48% respectively, ranking them as very important on a scale of one to five.
- According to 26% of marketers (the highest percentage for any one method), LinkedIn is the social networking tool proven to add the most marketing value. Facebook came in a close second with 23%.
Unsifair also recently announced the availability of its latest platform, which features social media capabilities. Tapping the key capabilities like live voice and video chat, the new platform is integrated with Skype. The integration with Facebook and Twitter links are designed to allow participants to share a virtual event with friends and followers in real-time. The new platform offers social bookmarks and “Follow Us” icons, allowing registrants to share event news with their community and help event organizers and sponsors build attendance.
The Marketer, The Prospect
From a prospective standpoint, other research indicates that more marketing professionals would prefer to attend a conference or trade show virtually than go to a traditional physical event. Webcasting and virtual events platform ON24 polled 5,000 marketing professionals and 63% said they are more likely to attend conferences online than in person. Additionally, 72% said they feel as confident communicating virtually as they do in-person.
The survey respondents attended the BtoB Magazine Leading Edge virtual trade show, where top BtoB marketers were polled. A majority of the marketers polled believe virtual events will save their companies time and money. Respondents also indicated that the “green” aspect of virtual shows is an important benefit due to the reduction of travel and the associated carbon footprint.
Gauging the interest in companies expectations from virtual events:
- 74% of respondents indicated that their companies are interested in virtual events to save money; 50% said their companies are interested in virtual events to save time;
- 82% said the green benefits of virtual events are important to their companies.
Analyst firm SiriusDecisions says its BtoB marketing budget benchmarks show a continued shift toward online activities in response to market conditions. “BtoB marketers have been hit with a one-two punch in the last 12 months: the need to cut program costs at the same time prospects cut travel budgets, says Megan Heuer, Research Director with SiriusDecisions. That combination led marketers to reduce spend on traditional events, while online events, from Webcasts to virtual tradeshows, gained budget dollars.”
ON24’s CMO Denise Persson points to budget shifts as a tipping point for virtual events. “[Marketers] constantly seek innovative new ways to propel their marketing leadership in a competitive global economy and are already embracing virtual events as time efficient, cost efficient and environmentally efficient. The fact that 63% are more likely to go themselves to a virtual event than a physical one demonstrates a ‘tipping point’ for virtual venues that is sure to make them even more pervasive as marketers plan their strategies accordingly.”