Tradeshow and corporate events offer a wide range of benefits for organizations. Sales teams can connect with clients and prospects to create real relationships. Your company can use panels and informational sessions to establish itself as a thought leader. Additionally, you can better explain the benefits of your products at a fraction of the cost. Consider the following stats and trends related to tradeshows and events:
The Value of In-Person Connections
- 95 percent of marketers consider tradeshows and events a valuable tool to form personal connections with clients and prospects in today’s digital landscape and 85 percent cite that this helps them build better business relationships.
- 84 percent of survey respondents agree that they have a better opinion on a brand, company, or product after an event.
- 84 percent of survey respondents say that would rather meet others in-person when conducting meetings.
- It’s cheaper to meet clients at a show than at their offices. On average, companies spend $142 per client at a show compared to $259 per client when visiting them in person
- 43 percent of marketers believe that in-person connections will become increasingly valuable in the future.
- 75 percent of attendees note the importance of networking when partaking in events.
- 73 percent of B2B organizations say that events are better than other channels in increasing client engagement
- About 90 percent of people cite small meetings as their preferred method of communication.
- In-person meetings are better at moving prospects down the funnel with on average 40 percent converting afterward.
- Over 90 percent of senior level managers believe that meeting face to face is a vital component in closing a sale.
- Almost 100 percent (96 percent) of those who own small businesses see a positive return on investment when attending in-person meetings.
- Almost 50 percent of tradeshow attendees are looking to make a purchase.
- About half (51 percent) will ask a salesperson to make a presentation at their company after an exhibition.
- 82 percent of attendees have the power to make a purchase with almost 1 out of 2 attendees being a member of the executive team or upper management
- 65 percent of survey respondents agree that tradeshows and events can help them understand a product or a company’s offerings.
Tradeshow Exhibit Space
- Tradeshow attendees will spend on average about 9 hours in the exhibit hall over the course of a show.
- In the US, Nevada is the state with the largest amount of exhibition space
Tradeshow & Event Travel
- Over half (56 percent) of attendees have gone over 400 miles to partake in the show.
- 82 percent of those surveyed cite that location plays an important role in their attendance.
- For every dollar a company invests in business travel, companies can expect to see $12.50 on average in return.
Marketer’s Views on Exhibiting
- 52 percent of marketers believe tradeshows and events to be the most effective marketing strategy.
- 84 percent of executives consider tradeshows to be a driving force in their success.
- About 55 percent of B2B marketers are making a considerable investment in events and tradeshows, accounting for 21 percent of their budget.
- 54 percent of organizations are planning more events this year.
- 38 percent of event marketers anticipate their budget increasing in the coming year.
- About 65 percent of companies that exhibit do so to meet their current clients.
- Companies spend about $24 billion on exhibiting at tradeshows.
- About 8 out of 10 event planners think meetings are a great way to accomplish their business goals.
- About 20 percent of planners thought planning the event budget was the most difficult aspect to their role.
- About 40 percent of organizers said that creating the agenda and content surrounding the event was the most time-consuming aspect of their jobs.
- There were over 5,200 events & meetings every day on average in 2016.
- 89 percent of survey respondents use social media channels to engage with followers prior to an event.
- The most popular social media platform is Facebook (88 percent) and according to 52 percent of event planners, this is the best social channel to promote events.
- 1 out of 4 ticket sales or registrations are coming from social channels.
- Most of an event marketer’s budget is allocated to marketing and promotion (43 percent) and 41 percent of marketers anticipate this budget growing.
- 56 percent of event marketers find that reaching out to new attendees is the most challenging aspect of their job.
- There are numerous ways to promote an event. Consider the following strategies:
- 63 percent of marketers agree that referrals or word-of-mouth marketing is the most effective strategy when promoting an event.
- 49 percent of marketers rely primarily on social to drive traffic to their event.
- 38 percent of marketers cite email marketing as the best way to promote an event.
- 19 percent of event organizers are utilizing second screens during presentations – Users can watch the presentation from their smartphone or tablet.
- 37 percent of organizers noted that networking and messaging were the best ways to keep attendees engaged.
- 68 percent of B2B marketers say that events are the leading cause of lead generation for their organization. 73 percent agree that case studies are what turn these leads into customers.
- Many marketers could improve their follow-up with attendees. Only 36 percent of marketers are monitoring their social profiles for feedback during or after an event.
- 69 percent of organizations are using digital channels to collect feedback from attendees. However, 10 percent do not have a process in place to collect feedback.
- On average, between 5 – 20 percent of tradeshow prospects eventually become clients, so it is important to follow up.
Marketing is changing with the emergence of digital channels and new platforms for users to engage on. However, the trends show that the value of events and in-person meetings is growing despite emerging technologies. In a more connected world, it is more important than ever to foster these connections to deepen relationships between your clients and your business.