We pulled together 25 of the most valuable statistics we could find for any company planning a trade show exhibit this year. Before you head to Orlando in March, keep these numbers in mind to ensure you’re making the most of your dollars and energy spent preparing.
What weight does attending Global Pet Expo carry?
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. (SpinGo), so plan networking opportunities into your expo outside of the show floor to increase the chance for building relationships. Look event software that digitally tracks leads by scanning QR codes rather than relying solely on business cards.
Over 50% of the expo attendees are there for the first time. (Bizzabo), so with so many new people attending each year, you have a high chance of meeting prospective clients whom you’ve never met before.
Most (41%) marketers believe that events are the single-most effective marketing channel over digital advertising, email marketing, and content marketing. This reflects a 32% increase since 2017. (Bizzabo)
84% of leadership (Vice President and C-Suite) believe in-person events are a critical component of their company’s success. (Bizzabo)
The most successful businesses are spending 1.7x the average marketing budget on live events. (Bizzabo)
The average Chief Marketing Officer allocates 24% of their total annual budget to live events. (Forrester)
51% of marketers believe one-on-one interaction and relationship building at events furthers an organization’s business goals. (CMO Council & E2MA)
46% of event marketers claimed that curating content and building their event agenda are the most time-consuming aspects of event planning. (Bizzabo)
So what does all of that mean?
Trade shows are a vital component to both sales and marketing strategies. While attending the show, keep in mind how serious your competitors are taking their time with your same buyers and be prepared with everything that makes you a better choice.
What should you be prepared with while attending the show?
More organizations will start to leverage the power of stories to connect with their attendees [in 2019] and generate the emotion necessary to take action. Be sure to offer organized, structured storytelling with a beginning, middle, and end. (Freeman)
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. (SpinGo) There will be more than 3,000 new products launched at Global Pet Expo 2019 (GPE)
76% of marketers say their event and experiential marketing initiatives are integrated with their other marketing campaigns. (EMI & Mosaic)
Events are primarily used customer acquisition and retention and only 14% regard them as a place to make and close deals. (CMO Council & E2MA)
54% of marketers believe events are a great opportunity to position the brand among industry leaders. (CMO Council & E2MA)
47% of marketers believe events are a highly efficient and effective way to reach and engage with multiple customers and prospects. (CMO Council & E2MA)
80% of attendees said that live demonstrations and free samples significantly help define their purchasing decision. (EMI & Mosaic)
About 34% of event attendees said they would make a post about an experience on their social media pages. (EMI & Mosaic)
91% of event professionals stated that increasing engagement at their events was an important priority for their organization. (Event MB)
65% of attendees said live events helped them have a better understanding of a product or service. (EMI & Mosaic)
68% of B2B marketers agree that live events help generate the most leads, while case studies help convert and accelerate the most leads. (Marketing Charts)
77 percent of attendees with buying power found a new supplier at the last trade show they attended. (Image Craft Exhibitors)
71 percent of small and medium businesses earn business after meeting with clients and prospects in person. (Image Craft Exhibitors)
91% of attendees say that being at a trade show impacts their buying decisions. (CorbinBall)
50% of marketers say their primary reason for events are lead generation/sales and community building. (Bizzabo), yet 80% of trade show exhibitors don’t follow up with their show leads. (SalesForce)
So what does all of that mean?
Everyone (regardless of their title) in your booth should be prepared with the right speaking points including your brand’s story, how you differ from competitors, and your products’ best features – especially your new products. Additionally, contact information should be collected from every attendee that stops by the booth, regardless of whether or not they are the right contact to follow up with.
Bottom line is to take advantage of this face to face time, and make your brand memorable and consistent – if your buyers see you’re consistent with them, they will see how your brand will be consistent for their customers.