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What are the costs of virtual trade shows vs. live trade shows?
I know that virtual trade shows cut down on travel costs, but what about the costs to attend the virtual trade show- are the costs pretty much the same? Also, how much does it cost to put on a virtual trade show? How much does it cost to have a "booth" at a virtual trade show?
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3 Answers
Chris,
Here is a link to a kit that contains a scenario-based ROI calculator that I developed recently. You can check and compare costs for trade shows, user conferences, training events and more.
There is a feedback button in the calculator, please us it to let me know if you have suggestions.
Thanks! http://bit.ly/cM6mjZ
You have a couple questions above so I'll try and break it up.
1) What about the costs to attend the virtual trade show- are the costs pretty much the same?
- All of the VTS I've done with my company have been free for attendees and most of the ones I see are free except the ones I want to attend - go figure. If you are thinking about charging, I would charge much less for a VTS because of the nature of the technology. Attendees would assume that you are spending less money on the event and therefore, they should pay less. Which leads to the next question.
2) how much does it cost to put on a virtual trade show?
- Depends on the vendor that you select. When I first was searching for a platform, I noticed you have you high-end vendors that have all the bells and whistles and then you have the others. I choose to go with the other for now until I see an ROI in my market. Don't forget your marketing expenses, cost for webinars, prize giveaways, etc.
3) How much does it cost to have a "booth" at a virtual trade show?
- Again, it depends on your marketing. When I searched mine, I saw prices ranging from $3K to $25K. Of course the $25K packages came with more than just a booth. The client is buying a package.
Hope this helps.
Hi Chris,
Excepto for very targeted and tailored professional events, where content of sessions is of enormous value, most of the virtual events around are free for attendees.
To put on a virtual trade show you should take into account the costs for the tech platform (around a 30 % of the total budget), costs for logistics and customer care (around 25 % of total), costs for marketing (around 25 %), cost for sales (around 20 %). Typically our events platform is being delivered for around 20.000 $, therefore you will need to gather around 70.000 $ to make the whole event a success.
Lastly, I agree with Danielle of the costs for an exhibitor that wants to have a virtual booth. Of course in depends on how many leads you can generate, sector and audience that is targeted, but bronze packages could range from 1,5 to $3K, and platinum from $15K to $30K
Good luck with your events!,
Miguel
http://www.imaste-ips.com
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