Webinars Are the Virtual Media Format of Today
Monday, June 29, 2009

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Virtual events have spiked this year (see June 22, 2009 issue of min’s b2b), but that is only one of several booming virtual media categories b2b companies are relying on to help keep costs down and audiences engaged as they ride out the

economic storm. And when it comes to online powwows, the webinar is king.

According to the Digital + Exhibiting Marketing Insights 2009 report produced by the Center for Exhibition Industry Research (CEIR) and marketing agency George P. Johnson (GPJ), 81% of 287 corporate brand and exhibition management/production professionals surveyed said the webinar is the most commonly used virtual event format (see chart at right, with figures broken down by the two categories of respondents).

“Webinars are successful because the cost is low, they are easy to execute and they allow users to communicate,” says Ian McGonnigal, executive director, experience marketing, GPJ.

According to the study, the role of virtual media in companies’ revenue streams is going to quickly expand (see chart below). As Steve Smith pointed out in last week’s min’s b2b, this does not spell the future demise of live events. “Face-to-face meetings help to nurture and build relationships,” McGonnigal says. Echoing McGonnigal, CEIR executive director Cathy Breden says, “Even on Match.com there comes a point where the involved parties have to meet face-to-face.”

McGonnigal and Breden agree that the recession is a factor in the success of virtual media, but McGonnigal also credits b2b media’s skill at building online interest. “Companies see this as a viable source of revenue,” he says. “They are learning how to make it work for them, so we will see more experimentation and more growth.”

McGonnigal says advancing technology will also accelerate the growth of virtual media. “In the next five years it will be second nature for b2b people to use avatars. There will be a major change in how people use the Web,” he says.

Though virtual media gives companies the ability to get information to their audience quickly and cheaply, its benefits are limited only to the tech-savvy—meaning Luddites are missing out. McGonnigal says virtual media’s No. 1 strength is its ability to deliver demonstrable ROI, and all media companies should quickly get up to speed. “A mix of digital and face-to-face is a strong recipe for success,” he says. —Shaila Mentore











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