Why Brands Exhibit: The Business Case
In the marketing mix, trade shows serve as critical face-to-face tactics where connections are made and where brands come alive. These complex ecosystems are designed for networking, lead generation, brand promotion, and strategic growth. This blog delves into the core business reasons for companies to participate in trade shows, highlighting how these gatherings are pivotal for networking, lead generation, brand elevation, and gathering market intelligence.
Networking: The Heartbeat of Business Convergence
Delving into the core of trade shows, networking stands out as the prime mover. CEIR's compelling statistic—99% of marketers discover unique value at these shows—underscores its importance. Trade shows are where long-term bonds are forged, outlasting any digital impression or ad campaign. There is no other channel that delivers the unique value found in the live environment of trade shows. The space where leaders meet, handshakes turn into partnerships, and introductions blossom into business ventures.
Lead Generation: The Art of Turning Handshakes into Customers
The hunt for leads ends here, amidst the trade show booths. With a study from Trade Show Labs indicating that 77% of distributors find supply-chain partners on these grounds, it's clear that the show floor is the place for turning introductions into conversations and conversations into customers. According to CEIR research, the cost of an initial face-to-face meeting with a prospect is $96 for an exhibition lead; whereas, without an exhibition lead, that figure is $1,039 (including $443 to identify the prospect prior to the initial sales call and $596 for the field-sales call). Your exhibits shouldn't just attract attention but be designed to captivate and convert, weaving your narrative into every encounter.
Brand Elevation: The Power of Presence
Exhibiting at a trade show elevates a company's brand profile. Companies invest in these events to be recognized as key players in their industry. This visibility can translate into increased credibility, especially for smaller businesses looking to stand on equal footing with industry giants. Trade shows offer a platform where all exhibitors, regardless of size, can showcase their innovations and services side by side. In addition, with an influx of industry influencers and media, trade shows offer the ideal venue for product launches and other strategic announcements.
Market Intelligence: The Astute Observer's Edge
When it comes to competitive intelligence, trade shows are pivotal. Access to this real-time data allows the astute marketer to adapt and evolve, iterating their offerings in sync with the pulse of the industry. There is no substitute for observing competitors' products, marketing tactics, and customer interactions, so you can refine your approach, keeping an edge in the competitive landscape. Trade shows are the lookouts from where you can survey the landscape, discern trends, and gain insight.
The Verdict: Investing in Impact
Trade shows represent a key investment within the marketing budget, and it’s important to maximize their impact and drive measurable results. When brands allocate a significant percentage of their marketing resources to trade shows, they're not just spending but investing in a mine of opportunities. They recognize the enduring power of human connections and the tangible results of live engagements.
Justifying the Value: Proving ROI
One of the most significant advantages of measuring performance is demonstrating the ROI and impact of your exhibiting efforts. Quantifying leads generated, tracking sales conversions, and justifying future event budgets become seamless with comprehensive measurement. By presenting precise data on ROI and ROE (return on experience), you secure buy-in and resources for future events and gain a competitive edge in the market. Learn more about our measurement services.
Now that we have covered the benefits of measurement, let's look at how we can get you there.
1. Start with Your Business Objectives
Successful measurement begins with a clear focus on your business objectives. This helps define the specific metrics that matter most to your organization.
2. Connect Data to Booth Design
Integrate advanced data capture tools into your booth, streamlining attendee engagement while effortlessly gathering crucial information.
3. Involve the Right People & Collaborate for Maximum Results
Engaging key stakeholders in the process is vital to elevate your measurement efforts. Connect with sales leadership, product development, corporate strategy teams, and other business partners.
4. Leverage a Framework and Dashboard
Effective measurement requires a structured framework and a user-friendly dashboard to communicate actionable insights. With a dashboard, you gain visibility into the highlights that matter most to key stakeholders, enabling seamless decision-making and paving the way for success.
Measuring trade show booth performance is not just retrospective analysis; it's about forward thinking and building a solid foundation for future success. Adopting an insights-driven approach that leverages data and proven strategy can elevate your exhibiting program to new heights.
At Skyline, we don't just understand this—we embody it. Our expertise doesn't end at manufacturing structures (although we make the best!); we also engineer experiences that resonate and yield tangible business outcomes. It's time to reframe the narrative: trade shows are not just part of the marketing mix but the launching pad of business growth and brand elevation.
