Case Study: Virtual Marketplace 2020

The client approached us with the idea of taking a national trade show virtual. Most of the food and drink shows in the U.K had been cancelled and so there was a real opportunity to matchmake, connect suppliers with buyers in a virtual space, given that it would be another 18 months before another in-person trade show would happen in the U.K.

First, we fleshed out the concept; what is the overall objective of the show? What do we want suppliers to experience? What do we need the buyers to experience? So, we mapped out the full experience for the main attendees. 

The next step was designing the virtual marketplace that met those needs.

We were able to do that through a combination of speaking to suppliers and buyers but also doing market research on the capabilities and features that were common and possible on virtual event platforms.

Next, our team went out there and had a look at the most cutting-edge virtual event platforms that were available at the time. We made sure that we had a full list of the pros and cons, the costs and the capabilities each of the platforms.

After shortlisting three platforms to demo to the client, a platform was chosen. We then took it back a step and looked again at the overall event experience that the client wanted to achieve, by the end of the trade show.

Here are some things that we considered:

1. The length of the virtual trade show – unlike an in-person event, there is an opportunity here for resources and sponsor visibility in the virtual marketplace. Virtual marketplaces can be open for far longer and accessible for, sometimes all year round in-between in person shows. We created a resource function and feature in the platform and that would allow suppliers and buyers to access information at their own pace and convenience. We demoed those features and functions in a series of videos, the client was able to show their end users and their community (including suppliers and buyers). We also made sure the demo was made accessible on our website and YouTube channel.
2. Creation of sponsorship packages – with and on behalf of the client. These sponsorship packages reflected the aims and objectives of the overall trade show, it reflected the commercial and financial goals of the client and also reflected the placement opportunities, the function and features on the chosen virtual event platform. After creating sponsorship packages, we then again produced a demo video for the client showing where sponsor visibility could be achieved and how they could position those sponsorship packages with their potential customers and community.
   
3. Writing a press release for the client to use within their community, within their network and within their audience - to position the virtual marketplace, to give potential buyers and suppliers an idea of how the virtual marketplace would work, and what the benefits were to exhibiting in a virtual marketplace. That press release was also shared with the relevant industry outlets, platforms and trade magazines.
   
4. Creation of comprehensive booking form for suppliers and one for buyers - giving them the respective and relevant information about the marketplace, how it works, how to log in and how the features function (the video links were included in those booking forms). This led very nicely on to being able to arrange pre and post events, which would create a sense of community, encourage collaboration between all attendees, buyers and suppliers. We also sent sample boxes to suppliers in advance in order for them to have a physical representation, along with the show guide, that was sent to buyers in advance of the opening the virtual marketplace.
   
5. Market research conducted by the team, looking carefully at the shows which were happening across the globe around the same time. We looked at what were the common techniques and strategies being used, what engagement happened pre and post-show. We then came up with a shortlist with the relevant strategies that would be integrated and implemented for this particular client’s virtual marketplace. We collated a database of potential suppliers, who would be interested in exhibiting in the virtual marketplace and set up assistance, along with the press release and the initial email that goes out to suppliers. We also set up systems that interacted with each other, so that we were able to identify potential suppliers and were able to contact them and they were able to book into the diary of the team to have a further chat about the virtual marketplace and how they could book their space.
   
6. Client advice around marketing the virtual marketplace and how to position the benefit to the industry and suppliers within their industry – we came up with a marketing strategy that was simple to follow, that the client could wheel out to support the virtual marketplace and its success.
   
7. Building, customising and modifying the virtual event platform so that it had all of the features that the client needed - for example, we had virtual custom booths, each booth allowed for pdf documents, a video, product images and the facility to actually meet and chat with staff members who virtually manned the booth. It required us to create sponsor sections for each sponsor to upload content for branding and logo from the client. The actual virtual marketplace was well packaged and branded properly. During the life of the virtual marketplace, we monitored the platform, providing technical support for all attendees and users throughout the life of the virtual event, as well as collating and gathering any relevant data, that the client was looking for or needed to present back to sponsors or to inform future decisions about virtual events in the space

EventMind helps organisations design, develop and manage virtual events and experiences. We enable organisations to create community, encourage collaboration and wow attendees using digital tools and platforms. Our expert teams use their industry knowledge and our signature Virtual Profit Framework to create custom and strategic virtual events which support organisational goals, needs and challenges. The four pillars of our framework are also our core values: content, community, creativity and collaboration. Drop us an email (team@eventmindpro.com) or call 0333 050 9360 to discuss how we can help you.