You’ve most likely seen some trade show stats in your lifetime. Heck, even I’ve seen a dozen or so articles with stats about trade shows. In compiling this list, we wanted to do something different.
The facts provide a “So What?”. This means each fact will come with some action point or idea of what this means for you as an exhibitor. By the end you’ll realise why trade shows are so popular and form the backbone of marketing for a lot of companies.
8 Unbeatable Reasons to Participate in Trade Shows:
- 81% of trade show attendees have buying authority. Source: CEIR: The Spend Decision: Analyzing How Exhibits Fit Into The Overall Marketing Budget
This means 4/5 people you speak to have the authority to say YES. What should you do? Try to quality prospects at the expo. Even if you have something as simple as three piles for business cards – HOT, WARM, COLD. Post-show you know who to contact as a first priority.
- 78% of trade show attendees travel more than 400 miles. Source: CEIR report ACRR 1153.12
A US stat, sure – but very applicable for NZ as well where many people travel to visit trade shows. Often times an industry could just have one major event a year so it’s definitely worth participating in these. Collecting emails means you can stay in touch the rest of the year.
- The top 3 goals for exhibitors at trade shows are brand awareness, lead generation, and relationship building. Source: Skyline Exhibits market research
Understand what your goals are and make sure you do things which support these. If your key goal is to get new leads – then make sure you have the right processes in place to manage them post-show.
- 67% of all attendees represent a new prospect and potential customer for exhibiting companies. Source: Exhibit Surveys, Inc.
Have an elevator speech prepared which introduces your company in 60 seconds or less. Unless you’re very well known, people won’t know anything about you. The first 60 seconds is your opportunity to grab their interest.
- 46% of trade show attendees are in Executive or Upper Management. Source: CEIR: The Role and Value of Face to Face
Make sure you’re ready to engage them and provide accurate answers to their questions. Think through what they might ask you and have materials ready to back you up. Also think about how you might engage these prospects after the show. If you can show to add value then this is a brilliant way to convert them into loyal customers.
- 92% of trade show attendees say their main reason for attending trade shows is to see new products being featured. Source: CEIR: The Role and Value of Face to Face
If you’re a niche player but have a great product, this is a perfect time to showcase it while people are searching for something new. Or if you’re established, then highlight something new you’ve cooked up – people love new!
- The perception of a brand that is not represented at an event falls by 5%. This is true even for global brands. Source: Facetime.org “The Power of Live Events
Brand awareness might not be on the top of your agenda, but it’s important for a company of any size. And with trade shows you know you’ll be exposed to the right target market so it’s a good idea to participate.