July 18th, 2018
Trade show exhibits are exciting opportunities for businesses looking to build brand awareness and leads. But sometimes, it can be tempting to look at the price tag associated with attending certain events or purchasing an exhibit and think that the results cannot be worth the cost. However, statistics drawn from the trade show industry say otherwise. In fact, they reveal that trade show exhibits have a great deal of positive impact on the businesses that use them, an impact that often goes beyond simply earning new leads.
Face-to-face communication still has value in today’s digital age.
Today’s digital age often creates the impression that face-to-face communication is inefficient and outdated. Why sit down and have a conversation about your brand with a prospective client when you can reach 1,000 prospective clients with a mass email or a carefully crafted online marketing campaign? The reality, however, is that in-person communication has a very real impact, and that exhibitors use this impact to their advantage. For example, 65 percent of exhibitors attend trade shows because doing so gives them an opportunity to connect personally with clients. And 90 percent of attendees have not had face-to-face contact with the businesses they encounter during the trade show in the last year. What do these statistics show? Clearly, face-to-face communication is valuable, and hard to get. By taking a trade show exhibit to an event, companies have the opportunity to meet personally with clients, deepen meaningful relationships, and connect with prospects and clients they do not otherwise see throughout the year. Maybe this is why 71 percent of small and medium businesses earn business after meeting with clients and prospects in person.
Trade show exhibits provide access to unique, and empowered, prospects.
There are many ways to encounter prospective clients throughout the year. Online marketing campaigns, social media, search engine optimization campaigns, word of mouth, signs, billboards, emails, phone calls, walk-ins, and more all give you access to people who may be interested in purchasing your products or using your services. However, trade show exhibits can be particularly valuable because of the type of prospects they attract. Prospects at an event tend to be unique, empowered individuals who are difficult to reach through other means. For example, 92 percent of attendees want to see new products while they are at the trade show. In fact, this is the number one reason for people to attend an event. This means that the prospects businesses encounter at an event are uniquely motivated to appreciate and invest in products and services on the leading edge of the industry. In addition, these prospects are prepared to act on what they find at the trade show. For example, 77 percent of attendees with buying power found a new supplier at the last trade show they attended. And how many attendees have that kind of buying power? Somewhere in the vicinity of 81 percent. Trade show exhibits appeal to individuals who can and want to make buying decisions.
Leads are less expensive and easier to convert through a trade show.
The price tag of a custom exhibit might shock some first time exhibitors, but the reality is that a trade show exhibit usually pays for itself over its approximately 5-year lifespan. In fact, thanks to their effectiveness at earning business for the companies that use them, these exhibits can put forth a healthy ROI. One of the ways in which trade show exhibits are good for the bottom line is that they help businesses save money on cultivating and converting leads. For example, meeting in person with a lead at a trade show costs approximately $117 less than a similar meeting in the office. In addition, thanks to the motivated nature of the attendees at the trade show, they tend to be easier to convert. For example, just over half of attendees request a sales meeting after the show while they are still at the event. Any trade show exhibit that can get people asking for the presence of a sales representative at their company is earning its keep.
Trade show exhibits are good for brand awareness.
Brand awareness is essential for building leads and establishing one’s company as a leader in your field. To this end, trade show exhibits are excellent marketing tools, because they are excellent at building awareness and positive perceptions of your brand. For example, a vast majority (to the tune of 88 percent) of event marketers attend trade shows at least in part because they believe that doing so raises their brand awareness. And, the numbers back them up. A company that does not attend events can suffer a loss of brand awareness of up to 5 percent. It may feel difficult to get your trade show exhibit noticed at events, but if you do not show up, your absence will definitely be observed. Clearly, showing up at events with a trade show exhibit is a must if you are going to achieve the best possible brand awareness. And, when your booth can provide information, new products and services, and value for attendees, you will earn even more positive perceptions of your company that can then help you achieve your marketing goals. Trade show exhibits have a great deal of value for exhibitors. And, thanks to the diversity within the field of exhibits, there are many options for businesses, regardless of design preferences and budget. If you want to find out how to more effectively build leads, conduct face-to-face communication, gain access to unique and empowered prospects, and save money when cultivating leads, consult an exhibit company like Imagecraft. We can build a design solution that meets your needs, represents your vision, and allows you to take advantage of all the opportunities available through trade show displays.