Trade Show Leads Cost 42% Less to Generate, Close Than Other Face-To-Face Leads
The Center for Exhibition Industry Research found in their new study, “The Cost Effectiveness of Exhibition Participation,” that the average cost to identify a prospect and close a sale using exhibitions is $2,188.40. (Meetings and Conventions magazine helped CEIR get to the correct number — see their story here.) That’s about 42% less than the $3,102.10 average cost to get and close a sale when not using exhibitions.
Why so much less? Not only are trade shows a great place to meet a lot of qualified prospects in a short amount of time, but they also are a great medium for quickly advancing the sales cycle. When you have a prospect at a show, they tend to be more qualified buyers, because they actually paid their own way to come see all the product choices at the show. Your booth staffers are able to ask qualifying questions and present only what matters to your attendees. Moreover, your booth staffers have a trade show exhibit to back up their presentations, complete with visual aids to tell their story with more memorability and impact.
Therefore, leads from trade shows therefore don’t need as much follow up to close, keeping overall sales costs down even after the show ends. Keep this compelling value of trade shows in mind as you evaluate your marketing choices.
You can read more about it in CEIR’s two-part study, The Cost Effectiveness of Exhibition Participation, at www.ceir.org.
