Trade shows are back!
Since COVID-19, trade shows have been on somewhat of a downward trend. However, according to Statista, the number of trade shows B2B professionals exhibited in the U.S. in 2023 was at its highest since 2015, and things look even brighter for the future.
Many of our customers have stated they will exhibit at one or more trade shows this year. To that end, here are some statistics about trade shows you might find interesting.
- In the first 13 seconds of entering your booth, 77 percent of visitors subconsciously decide if they are interested.
- According to tradeshowlabs.com, nearly half (46%) of trade show attendees are in senior management positions.
- A mere 6% of exhibitors are confident in converting leads at a trade show effectively.
- On average, it takes approximately 3.5 sales calls to close a lead generated at a trade show.
- Converting a trade show lead is 38% less expensive than relying on sales calls alone.
- For those who put in the effort and follow up, 5 to 10% of trade show leads can convert.
- Among Fortune 500 companies, 14% reported a 5:1 return on investment (ROI) from their trade show exhibitions, meaning they earned $5 for every $1 spent.
- 52% of business leaders believe that trade shows and events provide the highest ROI compared to other marketing channels.
- Smaller companies can see a 4:1 return on investment (ROI) for their trade show expenditures.
These statistics are sourced from Tradeshow Labs, Design Shop, Jobs In Marketing, Display Wizard, Quick Tap Survey, Statista, and Lead Liaison.
So, how do we make the most of our next trade show?
Remember the three Cs
- Connect
- Communicate
- Close
Be proactive, meet people, and find out as quickly as possible why they are there and what they want. Please don't wait for them to start a conversation. Be enthusiastic and curious. Ask open-ended questions and get them talking and thinking. Close, get their contact information, and schedule a follow-up.
