The Power of Conventions and Trade Shows
The number one reason to host a booth at a conference or trade show is to create meaningful engagement with potential clients. But in today’s tough economic market, is the conference still the best use of marketing dollars?
The simple answer is yes, especially for those of us in California.
Of the top 20 most popular convention centers in the US, (that is, the centers visitors are most likely to travel to), four are located in California: Long Beach Convention Center, Moscone Center in San Francisco, San Diego Convention Center, and San Jose McEnery Convention Center. And there are hundreds of smaller venues across the state, providing ample opportunity for vendors and attendees alike.
Though numbers have fluctuated a bit over the past decade, an annual study done by Exhibit Surveys, which polls attendees from more than 30 US conferences and trade shows, found that in 2012
- 47% of attendees plan to buy one or more products or services at a trade show (or within 12 months thereafter)
- 81% have final say in purchases
- the average visitor spends roughly 8 hours visiting exhibits
- 35% of attendees reported that their intentions to purchase were more favorable after visiting an exhibitor at a show
Considering that an estimated 70% of attendees have a list of vendors they intend to visit before they ever set foot in the convention center, it’s important to plan ahead. Know who you hope to target and why. If possible, reach out to them before the conference (many conferences will share their list of registered attendees with vendors) and let them know where to find you. Then, once you’re in the booth, be sure to make the most of your time (for more on this, read our article: “Conference Strategy: Making the Most of Your Time in the Booth”)
According to data from the Center for Exhibition Industry Research (CEIR), 88% of the attendees at a trade show usually haven’t been seen by a member of your company’s sales staff in the past year. This translates to a tremendous opportunity to reconnect.
On average, 76% of attendees will ask for quotes from the vendors they visit, and 26% will end up signing purchase orders.
And the positive impact of exhibiting at a trade show isn’t confined to the time you spend greeting people on the show floor. According to CEIR, 87% of attendees will pass along information they obtain at the show, and 64% will tell at least six other people about it. In total, the estimated cost of contacting a potential buyer at a show is 22% less than through traditional field sales calls.
In uncertain times, it can be nice to know that effort invested is well spent.