Can Virtual Trade Shows and Virtual Job Fairs Save Newspaper Classifieds?

This topic seems relevant, going by the number of newspaper companies that have been contacting us for virtual job fairs. My understanding is that the newspaper industry is trying to find out ways in which the virtual trade show or the virtual job fair can be bundled into their existing offerings, and sold as a package to their advertisers, thereby lending support to their classifieds business.

It would be pertinent here to recount a failed experiment with a virtual job fair that was used by a publisher, leaving us with valuable lessons that I want to share. Our technology worked flawlessly (of course!) and minor customization was done to accommodate their needs. However, the virtual job fair was continuously up on their site, making it difficult for the publisher to explain to their advertisers how it was different from the traditional classifieds. I also believe it was an issue of not being able to articulate the cost-benefit of doing virtual job fairs versus or alongside classifieds for their particular industry. Here is the case study in an itemized style:

• Publisher approached us for virtual job fair
• Specifications included a permanent virtual job fair, with the ability to purchase time-slots of virtual booth display-duration in monthly increments
• Real time reporting (it is a built-in feature that we offer, but we also customize it for long-term clients)
• A built-in payment system (it was already there)
• Consultation on best-practices in virtual fairs
• Online support
• A early set-up fee and ongoing revenue-share
• The ability to walk away if it is not embraced by their market (we allow customers the ability to walk away with their data, regardless).

The things that the publisher did successfully included:

• Packaging the service in convenient bite-sizes for advertisers
• Giving advertisers special bundled offerings and term-discounts should they book virtual booth space for extended durations
• Sold booth spaces at a fairly low price, but much higher than the traditional classifieds.

The things that the publisher failed to do included:

• Failed to slice the duration into meaningful events
• Failed to distinguish between classifieds and virtual job fair.
• Failed to set the right expectations with advertisers, and therefore did not meet them
• Failed to set pricing at the basic level equivalent to the competing classifieds
• Failed to offer differentiated levels of the virtual job fair service
• Failed to understand its international potential (months after we shut down their virtual job fair, our support lines still used to get inquiries from Europe and Australia by job seekers and potential advertisers)
• Failed to either follow-through on the connections made, or track success stories, or promote them, or failed to do all three of the preceding.

Citing the reason that the concept of virtual job fair was too early for their particular industry, the publisher eventually pulled out of the virtual job fair once they found a significantly diluted web-based classifieds solution, which they offered to their advertisers to display classifieds. We make it easy for customers to exit with their registration data should they choose to, so it was a smooth transition. I admired the publisher for being a trendsetter, but they had not really broken away from the 'classifieds' mindset.

How can Virtual Fairs Save Newspaper Classifieds? Here are a few possible answers.

1. Offer audiences a branded experience from your advertisers: A virtual job fair is a powerful branding tool, even if it is not embraced by every job classified advertiser. Those who choose Craigslist.org can not be stopped. That is just the way it is. However, if a hiring organization is serious about quality future hiring, then they would do what I have seen many companies do - use not only Craigslist.org, but also consider other ways of nurturing an audience of followers who will be future employees. To attract such an audience, they need the help, not only of the Internet and social networks, but also of traditional newspapers.
2. Experiment fearlessly outside the comfort zone of the 'Classifieds' mind-set: It is up to the newspaper companies to listen and experiment fearlessly with these new tools. I use the word 'fearlessly' because presently all I see them do is put a few logos and link them to special pages for the logoed advertisers listing job openings. That is what I have seen a classifieds technology provider offer their newspaper industry clients. They call it a virtual career fair, though. That again stems from the fact that virtual job fairs have no standards, and no definition. Over a period of time, I expect the market to settle and agree upon definitions.
3. Stay at the wheel and keep your eyes on the road: The other problem I see festering is that virtual job fair users think that 3D-type immersive experiences maketh a virtual fair. Agreed, it needs to be fun, but do not forget the human element. It does not matter how you dress up your virtual fair. If it does not have real humans steering the experience from their individual locations, you are headed down a path of disillusionment for your advertisers, your audiences, and your classifieds. No matter what kind of virtual fair you use, make sure that it has real people behind it available for its live-duration.
4. Qualify the traffic: One size will not fit all. A virtual fair may not be the cure for all ailments that afflict newspaper classifieds, but in our experience virtual fairs have worked really well in controlled environments because they do what nothing else can do - they allow for instant communication in a structured manner. They allow exhibitors and hiring managers to see who has come by their virtual booth. From the attendees' perspective, they allow exhibitors or advertisers, or hiring managers to hand-hold their audiences. They give audience members undivided attention. Making audiences register is one of the smallest necessary hurdles that are required to qualify an audience. I can not over-emphasize the importance of qualifying the attendees for a virtual fair. Sweeping and gathering eyeballs off the web don't make for a quality virtual trade fair or a virtual job fair.
5. Give it time, promote it and nurture it: Newspapers have to learn to co-exist with the Internet. Virtual job fairs might be one way. I would strongly suggest that newspaper companies try virtual job fairs (or virtual trade fairs -- say a Used Car Virtual Trade Show) for 4 consecutive quarters. For kicks, advertise your virtual job fair or trade fair on CraigsList and Google. Promote it like there is no tomorrow for the current classifieds.

The debate has just begun. Virtual fairs are among the better kept secrets in the world of business. Those who use it successfully do not talk about it enough. They could be the answer that newspaper companies are looking for in learning how to make their classifieds coexist with the Internet. It would be interesting to see the results of the contest by ReinventingClassifieds.com and to learn about other ideas from the college-goers - always a valuable resource.