Is it all over for live Events?

Are we nearing the end of the live trade show as we know it today? Many believe that trade shows are already dead and buried evidenced by shrinking attendance, rising costs to exhibit and attend, and the advent of virtual events that can be staged for a fraction of the cost of a live event.

Personally, I believe the opposite. While the glory days are long gone, the value proposition for the live event experience remains strong. The main reason is due to the value derived from face-to-face interactions. And even though much of the information gained at a trade show can be downloaded via the Web from the comfort of your office, what's missing is the feeling you get about the company when you visit their exhibit, a personal hands on demo of their products, and the impression you formed of the company after meeting their representatives in person.

Why is that so important? Let's say, for example, you were in the market to purchase an automobile. With today's technology, you can probably visit the corporate Web site, select the make and model, color, interior, engine size, tires, etc., and purchase your exact automobile of choice with a click of a button. However, I doubt most people would do that. Before making a $30,000 investment, most people would drive down to the dealer, take the auto for a test drive, check out the service organization, and if everything seems to fit, haggle over the price. And before making the final decision, the buyer might just drive down to the other 10 area dealers to see of they can find a comparable vehicle at a better price.

And that's also the value of a trade show. I don't think business people can make an informed purchase decision on high ticket capital equipment after downloading marketing literature from the vendors. The most productive place to evaluate products from multiple vendors is at a live event, where one can visit all of the players in one place, speak directly with the technical people that are typically unavailable over the phone, see the product in action, and form an impression of the vendor.

So, in an age of shrinking travel and marketing budgets, hopefully, live events can survive. I'm still rooting for them.