Tradeshows and expos are impactful marketing channels that you can use in 2018. In addition to giving you the opportunity to communicate face-to-face with attendees, they provide a unique value that cannot be found with other methods of marketing. Exhibitors continue to use tradeshows and expos to gather more leads, close more sales, generate revenue and better understand their target market. The importance of trade shows is well illustrated with these powerful statistics and interesting facts.
Exhibitor facts and statistics
- 88% of exhibitors will attend a trade show to raise awareness about their brand and company. No matter what niche you come from, a trade fair is a perfect avenue to announce about your brand and reach new markets. Trade shows allow you to get your name out there while focusing on a very specific audience that will be attending.
- Tradeshows and Expos serve the main purpose of acquiring new leads and clients. About 72% of exhibitor’s main aim is to get new clients and widen their network.
- Close to 65% of exhibitors attend trade shows to re-establish their relationship with existing clients. It is very difficult for businesses and brands to get a face-to-face meet with their existing clients and tradeshows provides the perfect opportunity to strengthen their relationship with clients.
- The top 3 main objectives in a tradeshow for most exhibitors are focused on engagement level and relationship management.
Why trade shows are valuable to your business
- Tradeshows are a more cost-effective method of having a face-to-face conversation with a prospect at $142 compared to the overall cost of a prospect coming to the office, which costs $259. This means that displaying at an expo is much cheaper per person when having face-to-face meets with prospects.
- More than 92 percent of tradeshow attendees are looking for new products and services in the market. This gives exhibitors the perfect opportunity to introduce new products and services and meeting the expectations of their target audience.
- 77% of businesses acquire at least one new supplier from the last tradeshow they attended. Expos offer businesses a chance to explore new possibilities as well as monitor the competition in a particular niche. This is vital for any success in the future.
- Since only 45% of attendees go to more than one trade show in a year, a good number of your audience will be attending the expo for the first time. This means you will have the opportunity to interact with new prospects.
- 87% of businesses admit to achieving business sector promotions from attending trade shows.
Prospect building
- By attending an expo, your chances of meeting a new prospect increase to 90%. Most of the clients you meet have never met your company or representatives in person. Trade shows provide a splendid opportunity to network and build new relationships.
- 81% of attendees are potential customers with buying authority.
- 78% of expo attendees travel more than 400 miles which means they come from various parts of the country. This provides you with a diverse national audience.
- On average, attendees spend 8.3 hours viewing various trade show booths which provides you plenty of time to connect with your target audience.
Overall, exhibitors are more interested in targeting high-quality attendees. This is achievable by creating custom trade show booths that are eye-catching and attention drawing. When the trade show displays are appealing enough, then a return on investment is guaranteed.