With travel budgets deeply slashed across Corporate America, more companies are turning to virtual trade shows to connect with customers and suppliers. Virtual shows combine the latest technology in webcasting, online chats, video streaming, webinars and avatar graphics to offer the elements of trade shows: exhibitor booths, speeches, seminars, distribution of marketing literature and social "gatherings." The technology companies that develop virtual-meetings software, such as Unisfair, ON24 and Second Life, say they're seeing big demand. Event-planning firm Champion Exposition Services says about 70% of companies that it has queried are "producing, considering or interested in pursuing virtual events." Various pieces of meeting technology have been around for years. Webinars and videoconferencing are common. But virtual trade shows, in which a large number of companies gather to show products, learn about competitors and sign deals, are fairly new. The market for technology companies that develop virtual shows is about $100 million, estimates Sharat Sharan, CEO of the company ON24 that developed about 300 virtual shows in 2009 compared with 50 in 2008. "It's going to get easier and easier. People are used to living virtually," he says.
