Are you a business owner thinking about reaching more customers by participating in a trade show? Perhaps you’re a business manager wanting to add a trade show to your marketing strategy for the first time. No matter what your role is in your company, these 5 key statistics about trade shows can provide you with essential insights for making informed decisions. In addition to sharing with you vital trade show statistics, we answer some of your most frequently asked questions about trade show events. Read on and get ready to learn more about trade shows in the next parts.
Trade fairs, exhibitions, and expos are just some of the terms used to refer to trade shows. Trade shows are public events where companies and organizations participate and come together to showcase their products, services, and technologies to potential customers and partners. They are usually industry-specific, focusing on a particular sector or niche, such as technology, healthcare, or fashion.
Knowing the statistics of trade shows can help identify growth opportunities and make informed decisions about whether these marketing events are for your business. So, are you ready to learn more about trade shows now? Keep reading to discover 5 key statistics about trade shows that can help you stay updated on the latest trends in trade show management.
Believe it or not, four out of five attendees in a trade show can be potential customers for participating businesses in a trade show. As we have briefly discussed above, trade shows are industry-specific, and participants are likely to be interested in purchasing any of the featured products and services. This gives businesses an opportunity to reach more audiences who are willing to try their products and increase their financial gains.
Over the years, trade shows have proven their effectiveness in increasing brand awareness and finding new customers or partners. Hence, it is not surprising that nearly one-third of event marketers consider trade shows, conferences, conventions, and channel events critical to conducting business in their target customer markets.
The face-to-face interactions with customers, prospects, and industry peers help in building and maintaining business relationships. Participating businesses in trade shows may also gain a competitive advantage because of the exposure they get from trade shows. Consequently, they can establish themselves as reputable leaders in the industry.
The U.S. has one of the biggest and most diverse markets in the world. The country is also a hub for innovation and technology, and new products are commonly showcased at trade shows every year. Hence, it is not surprising that the United States is one of the leading countries when it comes to hosting trade shows. Like in other countries, most trade shows in the U.S. are held in big cities such as Las Vegas, San Diego, California, Chicago, New York, and others like those.
As the world moves on from the COVID-19 pandemic, businesses are eager to reconnect with their customers and partners and enhance their brand recognition. Trade shows provide an avenue to achieve such goals.
There are several ways in which trade shows increase brand recognition. First, the booth design can attract attention and create a positive first impression for the attendees at the trade show. Marketing materials such as brochures, flyers, and business cards can also help businesses communicate their brand message. Moreover, trade shows often attract a significant number of attendees from various industries, including media representatives, analysts, and influencers. This provides businesses with an opportunity to reach a wider audience and generate buzz around their brand.
Different trade shows have different requirements and processes depending on their organizers. However, in general, businesses have to register for the trade show first. Upon registration, they may have to pay a fee to reserve a booth space. Days before the event, participants in the trade show have to set up booths or stands to display their products or service details.
Like the participating businesses, potential customers and industry professionals may have to register and provide details about their professional backgrounds. The registration may take place at the trade show or before it. Some trade shows may also require attendees to pay a fee.
On the day of the trade show, the attendees are free to walk around and interact with the exhibitors to learn more about what they offer. Both participants and attendees have the opportunity to discuss possible business opportunities. Apart from product booths, attendees may also enjoy some educational seminars or speeches hosted by the participating businesses or by the organizers. When the trade show ends, participants must break down their booths and pack up their equipment, materials, and props.
Trade shows are typically organized by trade show event management agencies or specialized exhibition organizers. These companies are responsible for planning, promoting, and executing the trade show. They may also provide the trade show staff that will welcome guests, promote products, and fulfill administrative tasks. In addition to event management agencies, many venues, and convention centers also offer trade show services and support. They may offer services such as exhibit space, catering, and audio-visual equipment rental.
Want to learn more about the trade show industry? Check out this article on how we work with trade show event management companies and learn all their responsibilities and the benefits of partnering with them. If you are a trade show manager currently aiming to improve your event management style, StaffConnect event management software may be fit for you. To learn more about StaffConnect, book your free demo today.