The value of trade shows is stronger today than in years past. According to CIER, 99% of exhibitors find that trade shows provide value that no other marketing channels can. Trade shows create an opportunity for exhibitors and attendees to communicate face-to-face, which is becoming more difficult in the age of video communication, emails, and text messages. Trade shows encourage more conversations, cultivate more leads and drive more sales than any other marketing event.
With that in mind, here are a few stats to help you wrap your head around the value of trade shows. We’re sharing the following 21 stats for two reasons: first, so that exhibitors can better plan their next display, and second so that exhibitors and attendees have ample support when management asks why they should allocate a portion of their budget to trade shows.
Why Do Exhibitors Attend Trade Shows?
1.) 88% attend trade shows to increase awareness of their brand.
Trade shows provide an excellent avenue through which you can get your name out and capture the attention of a niche audience.
2.) 72% attend to cultivate new leads.
Exhibitors expect to meet new clients and generate new sales at trade shows.
3.) 65% attend to connect with current clients.
Exhibitors struggle to get face-to-face time with current clients, and trade shows provide an excellent avenue to reestablish these relationships.
4.) The top 3 sales-related trade show objectives relate to relationship management and engagement.
Exhibitors want to engage with current clients, key customers, and potential new partners.
The Value of Trade Shows
5.) The cost to meet with a prospect at a trade show is $117 less than meeting at a prospect’s office
Exhibiting at a trade show can be expensive. However, meeting with a potential client at a trade show is 50% less expensive than meeting at their office. This will add up in the long run.
6.) 92% of trade show attendees come to learn about new products and services
Trades shows are the ideal opportunity to showcase your new products, services, and technology.
7.) 77% of executive decision-makers found at least one new supplier at the last trade show they attended
Trade shows are ripe with opportunities to meet with future clients. If you’re sitting on the fence about exhibiting at a trade show because you’re unsure if it’s worth it, remember that your competition will be closing 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 connect with new prospects you wouldn’t find at any other show.
9.) 51% of trade show attendees request that a sales representative visit their company after the show
People find valuable solutions when they attend trade shows. If you don’t exhibit, you miss opportunities to close big deals.
10.) 87% of exhibitors rate trade shows as highly valuable for achieving promotions
Exhibitors typically have an overall positive experience at trade shows.
Prospect Building
11.) 90% of attendees haven’t met face-to-face with exhibitors at the show in the 12 months leading up to the event
Trade shows provide an excellent opportunity to network and build relationships with current and potential future clients.
12.) Over 50% of attendees are there for the first time
With so many new faces attending trade shows each year, it’s worth attending them yearly to connect with prospective clients who didn’t attend last year.
13.) 67% of all attendees represent a potential new client for exhibitors
Roughly two out of every three attendees don’t currently use the product or service of the exhibiting company.
14.) 81% of attendees have buying authority
About four of every five attendees can sign a contract with a new supplier.
15.) The average attendee spends 8.3 hours on the trade show floor
You have plenty of time to network and develop connections at events. However, you must ensure you spend your time with the right individuals.
Trade Show Concerns
16.) Only 6% of marketers believe their company converts trade show leads, contacts, and conversations into customers extremely well
You can plan networking opportunities away from the trade show floor to increase the chances of building relationships. You can also use event software that digitally tracks leads via QR codes instead of running the risk of losing paper business cards.
Attendee Experience
17.) The top reason people attend trade shows is to find new products – 92% of trade show attendees state that they’re looking for new products
This has rung true for the past 25 years!
18.) About 34% of attendees stated they were very satisfied with their experience at the trade shows they attended
Attendees provide value for exhibitors and vice versa. You can plan activities away from the trade show floor and provide additional value to attendees.
19.) The leading reasons why exhibitors feel disappointed after attending a major trade show include:
- Lack of qualified leads: Many marketers attend trade shows with the expectation of generating a high volume of qualified leads, but if the attendees are not their target audience or if the show is not well-attended, they may be disappointed with the results.
- Poorly planned booth space: A poorly designed or located booth can make it difficult for marketers to engage with attendees and generate leads.
- Unmet expectations: If a trade show is not well-promoted or if the marketing materials provided by the show organizers are not up to par, marketers may feel let down by the overall experience.
- Competition: With many companies exhibiting at trade shows, it can be challenging for marketers to stand out and differentiate themselves from the competition.
- Cost: Trade shows can be expensive, with booth space, travel, and marketing materials adding up quickly. If the return on investment is not there, marketers may feel disappointed with the decision to attend.
20.) 56% of trade show attendees travel more than 400 miles to attend a trade show
Transportation costs are front-of-mind for exhibitors transporting their equipment and attendees traveling to the event.
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