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For a company to participate in a real world trade show, the cost can range from $12,000 - $25,000 for a booth, pre-show promotion, lodging and travel. Virtual trade show fees can run as little as $3,000 - $8,000, a fraction of the cost. Companies like goexhibit, on24, and inxpo offer virtual trade show services. On24 has an interactive demo that allows you to experience a virtual trade show just as your customers would, so you can try before you buy.

Virtual trade shows offer many advantages for the customer as well. They are cheaper to attend, offer the customer the ability to download information and seminars on their schedule, and interact socially via IM without the pressure of a salesperson. For the earth-conscious, virtual trade shows have green appeal. With no travel, booth production or brochure printing, virtual trade shows are very “green.”

What are the drawbacks? Promotion and user experience are two of the most obvious. You still have to let your customers know you’ll be at a virtual trade show, just like a physical one. Facebook, Twitter, email marketing, and direct mail are great ways to inform your customers of an upcoming virtual trade show. The user experience can also be frustrating if the client’s hardware is lacking. Virtual trade shows are tech-heavy, requiring the latest plug-ins, a fast Internet connection and an online savvy clientele. If your customer is frustrated with having to load additional software or has a sluggish experience due to an old computer or a low-bandwidth Internet connection, they’ll leave the online show. And your customers don’t get the chance to touch your product, or have a face-to-face conversation with you.

But is the virtual trade show an effective way to reach your customers? The virtual experience does allow trackable methods to calculate your return on investment. Reports that list booth visitors, duration of visit, areas visited, downloaded information and contact information are all available after your customers attend the show.

Melanie Lindner from Forbes magazine, How To Tackle A Virtual Trade Show, details a nine-step process to engage in the virtual trade show experience.

The virtual trade show won’t be replacing the traditional model anytime soon. However, it is a great alternative for companies with limited marketing budgets to introduce their products or services to the world in a format that is interactive and trackable.