Press Release: New Report Signals Fundamental Shift in Marketing Industry as Virtual Events Further Integrate into Traditional Marketing Mix
The newly released 2010 Virtual Market Outlook report from the Virtual Edge Institute and George P. Johnson Experience Marketing indicates that major brand marketers, top agencies and software companies are shaping a new category of event marketing that blends traditional events with online tools and communities. While still a nascent category, companies in industries ranging from healthcare to technology are increasingly working to incorporate a balance of online and physical experiences.
Conducted by the Lattanze Center at Loyola University of Maryland and available now at VirtualEdge.org or www.gpj.com/virtualedge, the 2010 Virtual Market Outlook report translates the opinions and spending plans of 889 active market participants in the event marketing and virtual space into such insights as:
- 39% of respondents anticipate an increase in their virtual meeting and event budget in 2010
- Of the top 10 virtual activities, 48% indicated they participated in a virtual trade show
- 37% of respondents said their companies produce hybrid events, which include a physical and virtual component
- 55% of respondents indicated that they would use virtual meetings and events for lead nurturing
- Among the sample of companies with more than $250 million in revenue, 55% of respondents indicated that they use virtual meetings and events for lead generation
“The data shows conclusively that the growth trend is towards the further adoption of web-based communication such as virtual events, either as a complement to existing physical live event activities such as meetings, conferences and trade shows or in some cases, as a standalone asset,“ said Michael Doyle, Executive Director of the Virtual Edge Institute.
“We’re seeing this trend as a positive reinforcement to the single most powerful truth in brand marketing today: the most efficient and cost-effective way to cut through the crush of advertising are compelling brand experiences, both online and off,” said Chris Meyer, Senior Vice President with George P. Johnson. “Our client base worldwide, on both the B2B and B2C side, is looking at how the web and mobility solutions can be integrated into traditional events to extend their reach, drive deeper brand engagement and lead to market share increase.”
The full results of the 2010 Virtual Market Outlook report will be revealed at the Virtual Edge Summit event February 22-23, taking place virtually as well as physically in Santa Clara, CA. Hundreds of top brand marketers, agencies and technology firms will come together to discuss the report’s findings as well as network and hear from top experts on the subjects ranging from virtual events to the emerging hybrid event marketing model. Register for the Summit here: www.virtualedgesummit.com/.
About the Virtual Edge Institute
The Virtual Edge Institute (www.VirtualEdge.org) is an organization dedicated to advancing the development and adoption of virtual event and meeting technology and best practices for collaboration and marketing. They do this by supporting and contributing research, education, thought leadership, promotion, and professional networking. VEI members help set the direction for the virtual events and meeting industry and create significant business opportunities, solutions and advantages for all. Members have access to various services and deliverables based on their membership level.
About George P. Johnson Experience Marketing (gpj.com)
GPJ is a worldwide experience marketing agency that enables brand marketers to create great ideas and bring them to life through integrated live and online experiences and environments, helping them cut through marketplace noise, differentiate from the competition and create lasting relationships that directly impact the bottom line. Consistently ranked one of Advertising Age’s “Top 25 Marketing Agencies,” GPJ provides its services through 26 offices around the world. The agency’s clients won 37 awards in 2008 and five Ex Awards in 2009 alone, an unprecedented achievement in the event and experience marketing industry.