From improving sponsorship opportunities to improved ROI, you’ll find out the incredible advantages of investing in a hybrid trade show. This blog post will explain what hybrid events are, plus the benefits for you and your organization.
What is a Hybrid trade show?
A hybrid trade show is a type of trade fair event or meeting that takes place in both a physical location and a virtual environment (or digital setting). It combines a “live” in-person event with a “virtual” online platform for remote attendees. This can be easily achieved by broadcasting the trade show event online through different virtual means such as live streaming, webinars, or setting up a virtual space that mirrors the ongoing physical event. While most trade shows lend themselves better to a live format, recent events have proved that others are a better fit for delivery over the web. A hybrid trade show combines in-person meetings and virtual presentations seamlessly to derive greater reach and participation, memorable experiences, valuable data collection, tailored messages, extended contact, improved ROI, greater cost-effectiveness, increased brand awareness, and many other benefits.
For some years now, it has become common for companies to choose hybrid trade shows, and the appeal of these events simply keeps growing. The benefits of investing in hybrid trade shows are numerous, and companies worldwide are taking advantage of these tools to make their trade shows more successful. Hybrid trade shows offer the following benefits and advantages:
Reduction of Costs
Organizing hybrid trade shows can significantly reduce costs for every party involved (at least by 20% – 30%). Physical trade fairs already require a lot of resources, money, and time, so rest assured that virtual events will not be contributing to the weight. Working from home is now ‘the new normal’ for many businesses and their employees. Most organizations have announced that their employees have been given the option to work from home for the foreseeable future.
Even as we continue to feel the effects of this pandemic, where live events are becoming more feasible, there are still opportunities to create virtual processes to save some money. For example, using a plug and play studio that can be taken to your desired location ensures that you can easily broadcast and manage the virtual part of your event on-site without hiring experts to achieve your goals. If you have a tight budget, as they are for many businesses at the moment, hybrid shows are a great way to bridge the gap between costs and results.
Data Collection and Lead Tracking
One of the greatest benefits of hybrid trade shows comes from the data and insight you can collect. For example, at an exclusively in-person event, you can quickly estimate how many attendees participated in a session, such as an interview, introduction, or Q&A. On the other hand, hybrid events provide event organizers with all the data they need to know about the number of people who participated in an event, how engaged they were, who may have dropped out of the session, and why.
Because of the online nature of a hybrid event, you have access to a great deal of trackable information and data which you couldn’t measure offline, such as matchmaking data and session interaction, all of which serve to help you refine and improve later content creation efforts.
With the help of virtual fairs, you can also monitor all registration, login, viewing, chat, downloading, and sharing processes. These numbers are important in determining the number of people who attended the event, including the quality of their experience and engagement. Monitoring the participation level of the exhibition visitors facilitates post-event communication and tracking. You can also share customized content with them, which is much more potent in capturing potential customers.
Improved Return on Investment (ROI)
You will continue to experience an increase in your return on investment (ROI) even after the live fair is over. One of the most distinct advantages of hosting hybrid trade shows over their physical counterparts is that when the live events are over, the virtual event can still live on. While it is tricky to calculate ROI at events because of all the moving pieces involved, hybrid events offer increased return on investment mainly because of the increased reach and scalability. The reason is that you are getting more attendance through your hybrid events, which can translate into higher views for sponsors and more sign-ups after the fair is long over. By making the webinars that help you connect with an international audience and content accessible to a global audience in the virtual fair, you can make the most of your content. You can extend the life of your fair by expanding opportunities to create potential customers and earn money.
If you’re still unsure about the many benefits of investing in a hybrid trade show, consider the possible outcomes if your travel plans were disrupted again in the future due to another global pandemic, like COVID-19, or a natural disaster, like volcanic eruptions.
Without the addition of hybrid elements to fall back on, your event would have to be canceled, which could mean your audience will look for alternative possibilities.
Increased Reach and Attendance
Hybrid trade shows allow you to increase your reach and gain more attendees. One of the biggest advantages of hosting hybrid trade shows is the better reach and increased attendance it offers organizers. Hybrid shows tap a broad spectrum of audiences in various remote locations. Many organizers feel that hosting a hybrid event will reduce their audiences, thereby resulting in a loss. That’s not true. Instead, it helps in growing the audience exponentially. Some attendees wish to attend a fair but cannot make it to the physical location because of various constraints such as official commitments, location, travel, etc. Hybrid trade shows help overcome all these as any interested attendee can tune-in from remote areas, thus amplifying better attendance at the event.
With a hybrid trade show, you lower the entry barrier for those who wish to attend but can’t and those still unsure if your event is worth their time. This rapidly increases your reach, as you broadcast your event to a larger audience than ever could be possible in person.
More Sponsorship Opportunities
Hybrid trade shows offer more powerful sponsor opportunities to corporate sponsors. This is why more sponsors are willing to participate in hybrid trade shows. Hybrid event formats make a wider array of audiences aware of the brand, resulting in enhanced exposure. Therefore, the broader reach and increased attendance enable them to have more qualified leads.
Hybrid trade shows allow you to take advantage of the virtual benefits while building relationships in a face-to-face environment. If you get the opportunity to showcase your brand at a hybrid event, you should make the most of it.
AladdinB2B uses the hybrid fair model to merge elements of both in-person and online trade shows. This model is very effective under the present economic climate, as travel restrictions are obstacles standing within the way of fair attendance. AladdinB2B’s hybrid fair model allows both face-to-face and online traffic to extend attendance at your fair