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Making Virtual Profitable: Steal These Business Ideas Presented by Cece Salomon-Lee February 9, 2011
My three quick rules: ,[object Object]
Feel free to tweet out
And ask more questionsTwitter: @csalomonlee Hashtag: #MPI
1. State of the Meetings & Events Industry 2. Four Models for Virtual 3. Which Makes Sense For You
Events Making a Return 6.6% growth professional attendance 5.2% growth in sq footage of exhibit space sold 5.2% growth in # of exhibitors 5.6% positive growth in projected revenue CEIR Index, November 2010
Events Are Vital $650 Billion global industry $230 Billionin the US alone CWT Travel Institute, “Meetings & Events: Where Savings Meet Success”: August 2010
Virtual Opportunity $18.6 Billion from 2010-2015 Market Research Media, February 2010
Where to start?
Driving Virtual Forward: Four Business Models ,[object Object]
Paid Registration
Exhibitor/Sponsor Driven
Hybrid Model (physical + virtual),[object Object]
GENERAL MODEL ,[object Object]
Free registration
No exhibitors or sponsorship
Organized by one organization
corporation, association or governmental agency,[object Object]
IBM COGNOS 10 PRODUCT LAUNCH ,[object Object]
Extend message to global market place: customers, partners, press, analysts and employees
Drive sales pipeline for future quarters,[object Object]
5920 registrants
2496 live attendees from 52 countries
Awareness via social media,[object Object]
Provide education to a specific group
members, customers, partners and employees
Audience acquisition goal: leads/members
Deliver news
Kick-off additional events (in-person and/or virtually),[object Object]
GENERAL MODEL ,[object Object]
Tiered system for registration
Members, non-members, group discounts
In-person, virtual-only
May or may not contain exhibitor/sponsorship elements,[object Object]
LEARNING FORWARD 2010 ,[object Object]
Build upon existing community
Generate additional revenue streams by reaching out to members who couldn’t attend in person
Offered tiered registration packages:
$350 for nonmembers
$300 for members

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Making Virtual Profitable: Steal These Business Ideas

Editor's Notes

  1. Good morning everyone. Thank you for joining me today for this presentation. Virtual has definitely become a very big topic over the past 12-18 months. And when we take a step back (next slide)
  2. projected revenue growth over 2009. While it may be too soon to cheer, it’s a positive indicator for 2011
  3. With the US responsible for nearly 30% of the total global industry
  4. While virtual represents a drop in the bucket within the overall meetings & events industry, it represents an opportunity for both corporations and associations
  5. The question I want to help you answer is – if I go virtual, which business model makes sense for me. Before I begin, I want to get a sense of everyone’s level with virtual events to date and what mix is association, corporation or both
  6. And a hybrid model in terms of how to incorporate opportunities that span a physical to virtual event and back again
  7. Exceeded reg/attendee goals: 5920 registrants, 2500 attended from 52 countries
  8. Another model is to look at exhibitor-drive virtual events.
  9. In terms of attract more people and global reach of such a model
  10. Value is audience – have a quality audience that suppliers and vendors want to sell to - exhibitor
  11. Value is audience – have a quality audience that suppliers and vendors want to sell to - exhibitor
  12. Audience – global, time constraint, expectationsObjectives – how does this complement your organization’s overall goals - corporation: marketing objectives - association: membership / revenueSupport system – what support staff do you have available to manage the events? How well-trained are they?AV/Production – what quality are you seeking to provide? Free live stream provides a different quality and experience than full two-camera, live streaming video/audio set-upStart small and build – if this the first time you’re doing this, consider starting small with a couple of sessions/speakers, and find a provider that has some of the elements you’re seekingTest-test-test: the one thing that each of the case studies demonstrate is you have to test, test, and test some more. This will help determine what does and doesn’t work.
  13. Audience – global, time constraint, expectationsObjectives – how does this complement your organization’s overall goals - corporation: marketing objectives - association: membership / revenueSupport system – what support staff do you have available to manage the events? How well-trained are they?AV/Production – what quality are you seeking to provide? Free live stream provides a different quality and experience than full two-camera, live streaming video/audio set-upStart small and build – if this the first time you’re doing this, consider starting small with a couple of sessions/speakers, and find a provider that has some of the elements you’re seekingTest-test-test: the one thing that each of the case studies demonstrate is you have to test, test, and test some more. This will help determine what does and doesn’t work.
  14. Elsevier case study: http://www.foliomag.com/2010/hybrid-events-live-virtual-combo