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Online Expo vs. Offline Expo: What Works Best for Fintech?

BrokesShow Online Expo

The Future of Fintech conference

Cost-Effectiveness and ROI chart

Whether hybrid or entirely virtual, event organisers are striving for the latest tools and innovations to inspire audiences around the world. 

KUALA LUMPUR, MALAYSIA, June 22, 2021 /EINPresswire.com/ -- Hot shot market analysts standing up to reveal lovely pajama pants, babies babbling in the background, cats running across keyboard…ring a bell? These were some funny side effects of online events we encountered in the pandemic. So much so that Elon Musk named his newborn “X Æ A-12,” and revealed (jokingly we assume) on Saturday Night Live, that it actually means “Cat running across the keyboard.”

Jokes aside, 2020-2021 were difficult years to run physical events. Event organisers frantically tried to second guess travel restrictions, government lockdowns closed conference centres and attendees were unable to travel. Online events rose in popularity as companies increasingly adapted to connect with their target audience. But what works best for the fintech scene? We’re diving into online vs. offline expos. Through 2020, we witnessed several high-profile industry events conducted virtually, attracting investors, traders, economists, fintech leaders and decision makers from all over the world. This trend has continued into 2021.

For example, the BrokersShow Virtual Expo Taiwan held in April 2021 provided attendees with immersive experiences on multiple devices in the form of 3D booths, panoramic views, voice calls and live chats, and top traders’ live broadcasts with one-key translation in 6 languages. The event provided networking opportunities and a chance to catch up on insights and knowledge shared by top traders in the industry, all from the comfort of your home. The expo attracted more than 12,000 investors in less than 3 hours, with 50,000 people having participated by the end of the 2-day event.

Business continuity has obviously been on everyone’s minds. But, considering the value additions such online events offer over traditional physical events, like deep audience insights, measurable ROI, immersive 3D experiences, and cost savings, this trend is expected to continue post-pandemic as well.

However, it wasn’t the sleek future we got accustomed to in futuristic films. Online events have a strict requirement for effective interaction. 8 seconds: that’s how much time brands have to engage their viewers before they get distracted, all courtesy the extremely short content we’ve become used to with social media “reels” and “stories.” The average no-show percentage stands at 35%, almost the same as in-person events.

Considering that the pandemic still looms over us, online events could be the norm for some time now.

Travel Bans Continue Across the World
Large parts of the world have imposed domestic and international travel bans to varying degrees.

This has made it incredibly difficult to plan for international travel or to secure venues. It’s clear that the uncertainty regarding impending lockdowns is likely to remain an uninvited guest in our lives longer than we expected or desire. This unknown quantity is keeping marketers, organisers and speakers on their toes. Online expos provide the perfect platform for businesses and industry experts to reach out to people beyond geographies. Attendees and speakers are able to network with a broad range of audiences, which is usually not possible with in-person events.

Brands can engage with brokers, market influencers, traders and fintech companies from across the world to learn about and discuss new opportunities, without needing to spend thousands on travel and accommodation or any safety concerns. While in-person expos might have to limit attendees in coming years, online expos will have no such restrictions. In fact, many events are now planning to be hybrid to cover their bases. That would mean if they were cancelled, attendees can still log in and enjoy the schedule.

For instance, The Future of Fintech conference, organised by CB Insights, is a great place to find out about the latest in the world of banking, lending, payments and wealth management. The 2021 event will be held at The Glasshouse in NYC, where all events will be live streamed for online attendees as well. What’s more, CB Insights is also ready to refund ticket prices without penalty before September, taking into the account the persisting global uncertainty.

Cost-Effectiveness and ROI
Virtual expos can help companies avoid major expenses, such as booking hotel accommodation, arranging for refreshments, renting venues and making travel arrangements. Airline tickets are projected to rise 4%-5% per month till Summer 2021, as airliner companies scramble to recoup their losses and overcome staggering debt levels.

These overhead expenses can be eliminated with virtual expos. Keynote speakers can be onboarded at a lower cost too. In addition, online webinars and speeches remain accessible year-around, helping reach out to those who might have missed the actual event and eventually impacting ROI. Brands can leverage the recordings in future to raise brand awareness and thought leadership on various platforms and cater to a larger audience.

Higher Engagement Rates
Online expos have provided a platform for attendees to interact with industry leaders without hesitation. For instance, virtual expos with a 3D expo floor and booths can help participants approach industry leaders directly, and brokers and fintech companies could increase brand exposure through uploaded videos and other promotional content. Also, those who wanted to establish further relationships could do so through private chats, as well as one-on-one video and voice call facilities.

Tools like real-time chat, webinars, live Q&A sessions and social media sharing facilitate enhanced communication and engagement with the consumer.
Not only do brands have a unique opportunity to engage with the audience and gather attendee feedback they can gather contact details to stay in touch via emails, newsletters and social media later on.

Insights into customer requirements can help brands create an environment that leads to more conversions in future by:

Offering relevant financial products and platforms
Creating appropriate knowledge base/education
Replaying webinars and other event sessions to reinforce learning
Conducting future events around a topic of interest
Integrating ecommerce elements into the platforms, where they can offer relevant products to attendees in future
Finding new ways to showcase the brand to an elite trading and investing community.

What do you think about virtual events? Love them or loathe them? Please check Fazzaco’s forex exhibitions and leave your comments.

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