In the dynamic world of corporate event planning, trade shows are more than just an opportunity; they're a competitive battlefield for brands worldwide. In this blog, we're delving into essential statistics and questions that every CMO, Marketing Manager, and Event Manager must consider to enhance their trade show strategy and achieve remarkable Return on Marketing Investment (ROMI).
1. Is Your Investment Generating Adequate ROMI?
With 99% of CMOs and Brand Managers expressing concern over ROI and ROMI, maximizing your trade show investment is crucial. Especially now, when marketing budgets, which are a percentage of total revenue, are on a downward trend. 75% of CMOs are feeling the pressure of 'doing more with less.'
2. Are You Capturing the Attention of Your Prospects?
Did you know approximately 11.5 million professionals attended B2B trade shows in the U.S. last year? With such a staggering number, it's vital to ensure your product or service isn't drowned in this sea of competitors. Remember, 77% of executive attendees use these events to find new suppliers, and 79% believe trade shows help them in making purchase decisions.
3. How Does Your Booth Differentiate from Competitors?
Consider this: 80-84% of attendees are unlikely to show interest in your booth unless it stands out. Today’s attendees are looking for a multi-sensory immersive experience, seamless integration of technology, and organic open design. Is your trade show environment meeting these expectations?
4. Is Your Booth Specifically Tailored for Each Trade Show Audience?
Most owned trade show exhibits have a life cycle of 3-5 years and often fall into a one-size-fits-all trap. Not to mention, a landfill. But with each trade show attracting a different audience, isn’t it time to ask if your booth is genuinely tailored for each event?
5. Does Your Trade Show Strategy Allow Up-to-Date Marketing Messages?
Product life cycles are collapsing. 50% of company revenues come from new products launched in the past three years. Can your trade show booth afford to stay static with an outdated marketing message?
6. Are You Streamlining the Trade Show Setup Process?
Did you know the industry estimate for setting up a 20x20 booth is around 28 hours, involving multiple contractors and complex logistics? This overwhelming process often leads to inefficiencies and stress. Are you looking for ways to streamline this?
7. Are You Keeping Trade Show Costs Within Budget?
Navigating trade show costs is a skill in itself. With drayage accounting for 16% of the budget and shipping for 12%, not to mention the unexpected 20-30% in after-show invoices, it’s crucial to have a strategic financial plan in place.
Time for a Trade Show Revamp
Did you answer yes to any of these questions?
Don’t worry, we’ve got you!
If these statistics and questions resonate with you, it's a signal to revamp your approach. Join us in transforming your trade show strategy to not only stand out but also to deliver measurable, impactful results.
The statistics and insights shared in this blog have been sourced from publicly available research by various agencies, including but not limited to CEIR (Center for Exhibition Industry Research) at ceir.org, EDPA, and Exhibitor Magazine.