Since promotional products and trade show exhibitions often go hand in hand, we are already very familiar with how trade shows help businesses increase revenue and connect with current and target customers. The smart folks over at SageWorld.com put together a great list of powerful statistics that do a great job convincing you that exhibiting at trade shows will be great for your business especially when combined with promotional trade show giveaways. So, in the event that you need convincing (or maybe your boss or board member need to see) here are 10 convincing trade show statistics that prove why your company should exhibit at conventions, exhibitions, trade shows and the like.
1. 46% of executive decision makers made purchase decisions while attending a show. This makes almost half of your audience the person you need to be dealing with, not someone over the phone or email who may or may not have this type of decision making authority.
2. 76% of executive decision makers asked for a price quotation at the last show they attended. Not only are decision makers attending trade shows, but they are interested in buying.
3. 77% of executive decision makers found at least one new supplier at the last show they attended. Not only are decision makers attending trade shows, but they are connecting and buying too.
4. 92% of tradeshow attendees come to see and learn about what’s new in products and services. That means you have a captive audience that is there to learn about your products and hear what you have to say.
5. The cost of a face-to-face meeting with a prospect at a tradeshow is $142. The cost of a face-to-face meeting at a prospect’s office is $259. Especially when you are meeting many prospects at once, this really is where you can account for the costs and make up some of those expenses.
6. Over 50% of the trade show’s attendees are there for the first time. Since new players in the industry emerge each year, a tradeshow is an ideal place to meet these people. Fresh meat means new prospects and potential new lifetime customers.
7. 51% of tradeshow attendees requested that a sales representative visit their company after the show. Strengthening the connections made at trade shows is a benefit of having that personal connection.
8. 70% participate in trade shows to strengthen relationships or partnerships. There is much to be said about the face to face connection that is made at trade shows. If is worth it to see what the culture is like at least one time to see how it can benefit your business.
9. 65% attend to see current clients – it is harder to get face to face time with clients. Trade shows aren’t always about obtaining new customers; much of it is about growing current customer relations and strengthening bonds for future potential opportunities.
10. 58% like to see colleagues and vendors, catch up on the industry trends, and strengthen their networks. In today’s world of digital networks, getting out and meeting your contacts face to face does so much to strengthen relationships – remember ‘people buy from people’.
Beyond the facts and statistics, there is so much to be said about the connections and bonds made at trade shows. If you have yet to experience this, it is worth it to check out a trade show to see how this can work in your company’s favour. Since we live in such a digital world where phone conversations no longer even dominate business relationships, emails, tweets and status updates generally do, rekindling that personal, face to face connection is very powerful. There can be no distractions during in person interactions and let’s face it, for most of us, we are constantly multitasking and trying to accomplish multiple things at one time. This split of attention makes it difficult to count on the full attention of your prospects unless you have their undivided attention.
For additional tips on how to make the best from your trade show experience view our ‘Wildly Successful Trade Show Tips‘ which is packed with some great pointers!