ROI & Measurement
ROI & Measurement
| Successful Exhibiting Strategies in Uncertain Times
An Exclusive Industry Analysis by Skyline Exhibits and Marketech
Trade Show Attendance growth, although slower, is still growing Since 2002, the trade show and event industry has enjoyed positive growth, driven by strong corporate profits, convention center expansion, low airfares, healthy corporate travel budgets, the need for training and education, istorically low interest rates, and the continued embrace of event marketing to reach buyers (Tradeshow Week – Executive Outlook 2007). However, 2007 ended with relatively flat growth +1.6%), and 2008 has become a year of uncertainty and questioning of what will happen next. Many of us in the exhibiting industry are faced with no growth budgets, but, even worse, funding has been withdrawn to protect our organization's bottom line or for other seemingly more effective marketing communications. Our managers and owners are concerned with the economic impact of the fall's election: Will a change in administration mean a change in the business climate? But, the biggest issue for us as exhibit professionals is what to say or do when your management says, “Let's get out of trade shows” or “Let's reduce our budgets” or “Let's reduce our participation in trade events.” Your reply is and should be that trade shows are alive and well and we need to continue our participation. Why? Over the past few years all four indicators of growth – number of shows, attendees, exhibitors, and net square footage sold were growing annually at 3-4%. Veronis, Schuler, Stevenson forecasted growth of 5.8% over the next three years. Today we are seeing growth at about 1%. All indications are that the economy is in distress, but economic slowdown is not affecting trade show growth as much as “time poverty.” Attendees are going to fewer shows and sending fewer, but more qualified people to each show. Although the growth statistics are softening, trade shows and events still fill a need.Exhibitors want the medium and quality attendees are coming to the shows. The total number of attendees may be declining, but high quality audiences are still available to exhibitors. When trade shows are considered objectively, you really want 10 qualified visitors versus 100 potentially qualifiable visitors. Wouldn't you want to spend more time with qualified visitors than a little time with more qualifiable attendees? So, it's not necessarily bad that the attendance is down. According to CEIR, 79% of attendees will be new contacts for your company and not seen by your organization face-to-face in the past 12 months, which means opportunities for new leads for sales. Trade shows and events are the only way you can get face-to-face with prospects and customers other than a direct sales call. You can accomplish more in a day visiting with show attendees than you can in a month of calls in the field. Read more...
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