The value of expos and tradeshows is still strong. In fact, 99% of exhibitors find unique value delivered by trade shows which are not provided by other marketing channels. Trade shows give exhibitors and attendees the chance to talk face-to-face, an increasingly difficult struggle in the era of video communication, emails, and text messages. Trade shows and expos lead to more conversations, more leads, and more sales than other marketing events. Because of that, we wanted to share with you some powerful stats that help you visualize the impact of your events. We’ve compiled a list of 21 powerful stats that you can use to plan your upcoming expo while also convincing exhibitors and attendees of the importance of attending your next expo.
Why exhibitors attend trade shows and expos:
1. 88% participate in trade shows to raise awareness of the company and its brand.
Trade shows and expos provide a great way to get your name out and let a very niche audience know about your brand.
2. 72% participate to get leads from new buyers and prospects.
Exhibitors expect to meet new clients and get sales by attending an expo.
3. 65% attend to see current clients – it is harder to get face to face time with clients.
Exhibitors are having a harder time getting face-to-face time with their clients, and trade shows provide a way to reestablish the relationship.
4. The top 3 sales-related objectives at trade shows are related to relationship management and engagement.
Above all else, exhibitors want to meet with existing customers, key customers, and prospective customers.
Value of Trade Shows:
5. The cost of a face-to-face meeting with a prospect at a tradeshow is $142. The cost of a face-to-face meeting at a prospect’s office is $259.
By displaying at an expo, you find a much more cost effective way to have face-to-face conversations with potential prospects.
6. 92% of tradeshow attendees come to see and learn about what’s new in products and services.
Expos and trade shows are a perfect opportunity to highlight the new products, services, or technology you offer. And by doing so, you will meet your attendees expectations at the expo.
7. 77% of executive decision makers found at least one new supplier at the last show they attended.
Expos do create new business opportunities for exhibitors. If you are sitting on the fence about attending an expo because you’re not sure if it is worth it, remember that your competitors will be closing the deals that you could have been closing.
8. 45% of attendees visit only one exhibition per year.
When you exhibit at a show, you will find new prospects that you wouldn’t find at any other show.
9. 51% of trade show attendees requested that a sales representative visit their company after the show.
People are finding valuable solutions by attending trade shows and if you aren’t attending, you are missing opportunities of closing big deals.
10. 87% of exhibitors rate exhibitions as highly valuable for achieving business sector promotions.
Exhibitors are having overall positive experiences at trade shows.
Prospect Building:
11. 90% of expo attendees have not met face-to-face with any companies exhibiting at the show in the 12 months prior to the event.
Trade shows provide a great opportunity to network and build relationships with current clients and potential prospects.
12. Over 50% of the expo attendees are there for the first time.
With so many new people are attending expos each year, it is worth attending trade shows every year to meet prospective clients who did not attend last years show.
13. 67% of all attendees represent a new prospect and potential customer for exhibiting companies.
2 of 3 attendees don’t currently use the product or service of the exhibiting company.
14. 81% of trade show attendees have buying authority.
4 out of 5 people walking through the show are potential customers for exhibitors.
15. The average attendee spends 8.3 hours viewing trade show exhibits at an exhibition.
You have plenty of time to network and make connections at the event. Attract attendees to your booth that will attract attendees to your booth such as visual representations.
Trade Show Concerns:
16. Just 6% of marketers believe their company converts trade show leads, contacts and conversations into customer business extremely well.
Plan networking opportunities into your expo outside of the show floor to increase the chance for building relationships. Use event software that digitally tracks leads through QR codes instead of risking losing paper business cards.
Attendee Experience:
17. The #1 reason for attending (not exhibiting) trade shows is to see new products. 92% of trade show attendees say they are looking for new products.
This has been the number one reason to attend expos and trade shows for over 25 years.
18. Only 34% of attendees said they were very satisfied with their experience at exhibitions they visited.
Attendees provide value for exhibitors and vice versa. Plan activities outside of the exhibitor floor time that provide extra value to attendees. Also provide them with contact information for all exhibitors so they can research the exhibitors they didn’t get a chance to meet in person.
19. Leading reasons why marketers felt disappointed with attending major trade shows worldwide as of May 2017:
45% Cost of attendance
45% Not getting the right spot on the conference floor
36% Low-value leads
36% Wrong speaking slots
27% Company booth was overshadowed by bigger players
20. 56% of trade show attendees travel more than 400 miles to attend an exhibition.
Transportation costs are important to both exhibitors transporting their booths to trade shows, and attendees traveling to meeting sites. If you can help them reduce their travel costs by getting a hotel discount, you can help increase the attendance at your expo.
Sources:
Center for Exhibition Industry Research (CEIR)
BizActions
CEIR: The Spend Decision: Analyzing How Exhibits Fit Into The Overall Marketing Budget
CEIR Report ACRR 1152.12
Skyline Exhibits market research
CMO Council & E2MA, 2013
Exhibit Surveys, Inc.
CEIR Changing Environment Study
CEIR: The Role and Value of Face to Face
AuthorColin is a Creative Director at SpinGo. He is a Pay-per-click and Search Engine Marketing expert who is committed to placing ads in front of the right people, at the right place, at the right time. He is Skilled in segmentation, audience creation, and campaign optimization. https://www.spingo.com/blog/post/20-powerful-stats-on-the-value-of-trade-shows-and-expos
