What is a virtual trade fair?

A virtual trade fair, also known as a digital trade fair or online trade fair, is an event that is not tied to a specific location. Similar to an offline trade fair, a virtual trade fair is limited to a specific event period and is focused on a particular theme. As with a physical trade fair, this format is often invitation-based, and access to the virtual event is granted via a ticket or access code. Interactions between exhibitors and visitors take place digitally and, much like the conventional trade fair format, serve the purposes of exchanging information, promotion, and networking. A virtual trade fair features virtual exhibition booths, workshop and meeting rooms, chats, as well as virtual presentations and live streams. Virtual trade fairs can be hosted in either 2D or 3D formats.

Differences between offline and online trade fairs

The most significant difference between the two types of trade fairs lies in their location-dependency. An offline or conventional trade fair is tied to a physical location, whereas a virtual trade fair is not. Consequently, a virtual trade fair only allows for virtual encounters between participants, while a traditional trade fair enables personal interaction. A virtual trade fair also requires no physical infrastructure, making it independent not only geographically but also physically. Because this type of trade fair takes place online, it requires no booth builders, catering, or fire safety regulations. Additional infrastructure necessary for conventional trade fairs, such as parking, security, restrooms, or shuttle services, is not required for a virtual trade fair.

Due to these factors, the virtual trade fair has a leaner cost structure. In return, the basis for hosting an online trade fair is a cloud- or software-based technological infrastructure. This means that for virtual trade fairs, not only is an internet connection required, but tools for mapping the digital exhibition halls and rooms are also essential prerequisites.

12 pros and cons of digital trade fairs

1. Personal interaction

One disadvantage of the virtual trade fair is the lack of personal contact and interaction. Real-life encounters allow for a higher degree of interpersonal connection and offer a better grasp of emotions, more situation-appropriate communication, and physical proximity.

2. Networking opportunities

Another disadvantage of the online trade fair is the lack of infrastructure-based spontaneous meeting spots, such as promenades, intersections of aisles, or visitor queues. However, the elimination of these types of spontaneous meeting spots can be an advantage, as other intentionally created virtual meeting places, such as virtual cafés or chat rooms, may be more frequently visited by attendees.

3. Cost savings

A major advantage of the virtual trade fair is its significantly leaner cost structure. By eliminating cost items such as rent, booth construction, security, restrooms, electricity, technology, sewage, cleaning, catering, and travel expenses, an online trade fair can be hosted at a fraction of the cost of a conventional one. This is a major benefit for both organizers and participants. From the perspective of a virtual booth operator, the costs for the booth, booth rental, equipment, and personnel are also significantly lower.

4. The growing online trade fair market

The segment of virtual trade fairs, virtual congresses, and virtual conferences is considered a strong growth market. Organizers and participants are increasingly adapting to these online formats, and the solutions and tools for presenting them are becoming significantly more sophisticated every year. According to grandreviewresearch , the global market for virtual events, which includes virtual trade fairs, is projected to grow at an annual rate of 23.2% between 2020 and 2027.

5. Location independence

A very practical advantage of the virtual trade fair is its location independence. This not only saves the effort of traveling to and from the event but also eliminates travel and accommodation costs. More participants can attend because there are no capacity limits like those found at physical trade fairs.

6. Sustainability

A particular advantage of the online trade fair is the sustainability aspect. Reduced or eliminated travel saves CO2. By eliminating the need for sanitary facilities and costs for electricity, fresh water, and sewage disposal, the virtual trade fair is the more sustainable type of event.

7. Creative Freedom

Because virtual trade fairs are digital, they can be designed in unique ways. For organizers and exhibitors, this format offers freedom for 2D or 3D visualization and immense interior design possibilities. For example, a virtual trade fair world can be designed with complete originality, without any logistical constraints. This leaves plenty of room for creativity and individual design. Since the layout of an online trade fair is virtual, it also allows for a higher degree of flexibility and can be modified in a very short time.

8. Hygiene and Safety

The aspect of hygiene and safety is a key advantage of the virtual trade fair. There is no need to comply with hygiene regulations, guests can log in safely from anywhere, and in times of COVID-19, large-scale events can be held under the highest safety conditions. This makes virtual trade fair organizers independent of current regulations, new waves, and the uncertainty that the pandemic brings to planning.

9. Shadow or Twin Event

Another advantage of the virtual trade fair is the ability to create a so-called shadow or twin event alongside a conventional trade fair. This allows visitors to attend a physical trade fair if they wish, while those unable to be present in person can participate virtually. This gives organizers even greater reach and offers a higher level of flexibility.

10. Branding

A virtual trade fair also has strong advantages in terms of branding. Due to the customizability of the technological solutions, the online trade fair allows organizers to integrate their branding at significantly more touchpoints. From the registration form and the trade fair app to booth branding and the shipping of branded trade fair boxes to participants, this format offers extensive possibilities. You can find customizable boxes for your trade fair participants here.

11. Reach

Theoretically, a virtual trade fair has no limit on the number of participants. This creates a major advantage in terms of reach, as it completely eliminates geographical limitations and allows participants to join from anywhere in the world. This advantage increases the revenue potential for trade fair organizers and exhibitors.

12. Tracking

Another advantage of the virtual trade fair is the improved ability to track its success. The number of attendees and the duration of their interactions at specific booths, meeting points, and presentations can be tracked in real time and in detail, allowing organizers to evaluate the performance of your virtual trade fair more quickly and accurately. Important trade fair metrics and KPIs are captured more efficiently, and improvements can be implemented faster.

Costs of Virtual Trade Fairs

As explained in the advantages above, the online trade fair is a cost-effective alternative to a conventional one. Eliminating major cost drivers such as rent and overhead (water, electricity, technology, security, sanitary facilities, travel expenses, signage, and catering) allows virtual trade fair organizers to become profitable much faster. While the elimination of these items is a strong cost-reduction lever, the online format also enables a much higher number of participants, thereby providing an additional profit lever.

However, virtual trade fair organizers must account for professional streaming technology setups in their budget. Depending on the number of participants, the number of booths, breakout rooms, and stages, the additional coordination effort can increase conventional costs. Furthermore, online trade fairs are not yet as widespread as traditional trade shows and are new to many visitors. This increased number of "newcomers" may require a larger service desk team. Additionally, a virtual trade fair requires a platform or software. There are numerous, very different providers in this area. Due to the strong growth in the virtual trade fair segment, more and more companies are being founded in this sector. You can find more information on online event platforms and virtual conference software providers in our dedicated article.

One final cost lever is that speakers do not necessarily have to be billed at daily rates. While keynote speakers at a conventional trade fair must travel in person and often charge for half-days of travel time in addition to the presentation day, an online trade fair can even be billed on an hourly basis.

24 examples of virtual trade fairs

1. Virtual book fair
2. Virtual design fair
3. Online erotic trade fair
4. Virtual trade show
5. Online air show
6. Virtual hemp expo
7. Online in-house exhibition
8. Virtual wedding fair
9. Online gaming expo
10. Virtual hotel show
11. Virtual career fair
12. Virtual congress fair
13. Online art fair
14. Online aviation trade fair
15. Virtual luxury goods fair
16. Virtual Maker Faire
17. Online mechanical engineering trade fair
18. Online fashion show
19. Virtual furniture fair
20. Virtual Trade Fair
21. Online Toy Fair
22. Online Tourism Fair
23. Digital Consumer Fair
24. Virtual Wine Fair

Virtual trade fair catering and home office boxes for attendees

For digital trade shows and online fairs, there are also professional providers who send items to trade fair participants at their home office or current location. These can be either catering packages, gift packages, supplies, or even food or snack boxes. You can include personal greeting cards or customized merchandise materials here. For you as a trade fair organizer or booth operator, this is also an opportunity to earn extra income through paid partnerships. You can find a wide range of these boxes in the heycater! marketplace.

Planning a virtual trade fair

Good planning is the core of a successful virtual trade fair. Below, we will look at the individual planning steps for the successful implementation of an online trade fair. Planning an online trade fair is divided into 10 essential steps.

Step 1: Define the exhibition concept

Define your trade fair concept precisely. What is the vision for your online trade fair? Who is it intended to reach? What are the goals of your trade fair, your most important sub-projects, and how will you measure the success of the event? Write a concept paper for the trade fair and answer these important questions within it.

Step 2: Design virtual booths

Design the booths for your virtual trade fair. How are they arranged, how large are they, and what is their design? Also, plan for the fact that booth operators may want to set up using their own 2D or 3D designs.

Step 3: Prepare marketing materials

Prepare the marketing materials for your virtual trade fair in detail. Which paid and unpaid marketing channels do you want to use to promote your digital trade fair? Would you like to create your own newsletter and set up a presence on social media channels? Do you also want to market your trade fair via advertisements? You may also want to promote your trade fair offline. Plan your trade fair's marketing strategy precisely and prepare your marketing materials carefully.

Step 4: Plan booth sales and speakers

At this stage, your trade fair's concept and marketing are already in place. With these two cornerstones, you can now start recruiting booth exhibitors and working through your list of desired speakers. Allow enough time for this step and do not hesitate to contact your preferred partners multiple times.

Step 5: Program planning

Plan your virtual trade fair program carefully. Compared to conventional conferences, online conferences often feature more seamless transitions between program items to keep attendee attention and participation high while they are in front of their screens.

Step 6: Invitation management

Plan your virtual trade fair invitations carefully. The question "Is attendance limited or can anyone participate?" must be clearly defined. How many guests need to attend for the trade fair to be profitable? Are there categories for early birds, VIPs, or group bookings? Develop a solid strategy for invitation management here.

Step 7: Prepare stage presentations

To ensure your virtual conference runs smoothly, have all presentations sent to you in advance. Make sure the file formats are compatible with your tools and check the content for spelling and quality beforehand.

Step 8: Dry run with key participants

Schedule a dry run with the key players of your online trade fair. Practice makes perfect! Ideally, prepare scripts for your participants and try to run through the entire sequence once.

Step 9: Executing the virtual trade fair

Executing a virtual trade fair requires professional event management. Assemble a team of event managers and experienced project leads.

Step 10: Follow-up

Following up on your online trade fair is at least as important as it is for a conventional one. Personally thank all participants and visitors. Gather detailed feedback and summarize your key takeaways. Prepare recaps and highlights, and not only include them in your follow-up communications but also use these materials to promote the next event. After all, the rule in conventional event management applies to virtual trade fairs too: after the planning is before the planning!

Virtual trade fairs are not just a topic for the pandemic; they will continue to grow in popularity beyond 2021/2022. The many advantages—lower costs, greater reach—make the online trade fair an attractive alternative to hybrid and in-person events.