Trade shows work in that they generate huge levels of interest in business offerings and provide the ideal forum for networking and building relationships.
That is the tag line you would expect to read anywhere when it comes to promoting trade shows themselves as a business service but the facts also speak for themselves irrespective of the marketing spin.
- 77% of trade show attendees have “product interest” BEFORE they attend an exhibition
- 96% of first time exhibitors would like to exhibit again
- 78% of first time exhibitors DO exhibit again
- 87% of exhibitors use trade shows and trade show displays as their primary face-to-face marketing and sales activity
- 8% of 2006 trade show exhibitors reported spending more money than they made at trade shows; or in other words, 92% made money out of trade shows instead of losing it
- in excess of $800 billion in new sales was generated at US trade shows in 2007
Trade shows work for business which is why they are so successful; reading the trade show news bulletings that drop through into my email inbox, I never read about a show being closed down or cancelled; if anything the number of trade shows is actually increasing as other businesses in this sector try to carve out a niche for themselves in this lucrative market.
The implications for individual companies looking to promote themselves and grab a share of the customers with orders and check books in ther pockets, is to choose carefully from amongst the trade shows that are offered. In times of economic constraint, it is best to stick with what you know works rather than try anything fancy and off the wall. Research trade shows operating within your business sector first before trying exhibiting at unrelated trade shows (the premise being if you stand out you get more interest); keep costs down but do not penny pinch on your presentations (consider sharing a booth of you are looking to cut costs) and maintain a professional presence with timely follow-up after the show has ended.