How to Make Your Trade Show Efforts Pay Off

November 21, 2015

Trade shows have a lot of competition when it comes to allocating marketing budgets. Internet advertising, social media and inbound marketing to responsive websites have been gaining a lot of marketing attention and money. The recession took a big hit on trade show budgets, too. But despite the bumpy roads of the past few years, trade shows keep going strong. Of course, it isn’t enough to just put up an exhibit. You need to take a strategic approach to ensure that your trade show efforts will pay off in solid leads and sales.

Maximizing face-to-face marketing

The trade show industry is recognizing the need to change in order to keep up with the needs of the businesses that it serves. Exhibitors can expect show organizers to deliver better customer experiences and more opportunities for meaningful interaction with prospects.

Applying the sales process to trade shows

A trade show presents a focused opportunity to promote your company and sell your products or services to your best prospects. Exhibitors can benefit by incorporating the sales process into their trade show plans. To make sure that trade show dollars generate a good return, exhibitors need to take a strategic approach that extends from pre-show promotions to post-show follow-up.

Turn your business and marketing objectives into an event strategy

The success of any marketing effort must start with focusing on the overall business objectives of your company. While incorporating your basic business objectives may seem obvious, the fundamentals are often overlooked. At the same time, each event also must fit into your overall marketing strategy and brand image. Once you have focused on overall business objectives and marketing objectives, you can create an effective event strategy specific to a trade show event. The same strategy cannot be used for every event, because every event is unique. 

Analyzing the benefits of trade show marketing

Cost-effective sales calls

Overall, closing a sale with a prospect from an exhibition versus one found in the field can save $914 per prospect. According to the CEIR research, it costs $2,188 to close a sale with an exhibition lead, which includes the average of $96 to identify a prospect at an exhibition and $2,092 representing the average cost of 3.5 sales calls to the prospect. In comparison, it costs $3,102 to close a sale without an exhibition lead, which includes the average of $443 to identify a prospect without the aid of an exhibition, and $2,659 for the average cost of 4.5 sales calls to the prospect.

Multiple prospects in one place

Trade shows can also reduce the number of sales calls needed by providing access to multiple new customers in one location.  Trade shows gives your sales team access to hundreds, if not thousands of new prospects who attend each show. You should carefully evaluate the profiles of attendees to each show to ensure that they meet your qualifications.

In-person product demonstrations

One of the reasons why completing the sales cycle can be so expensive and require so much time is that it can be difficult for the customer to actually test and evaluate the product before  making a  buying  decision. Trade shows are one of the most effective ways to give customers the opportunity to put their hands on your products, either as a demonstration, a presentation, or a sample of the product itself.

One-stop shopping

Another way that trade shows can help to reduce the sales cycle time is by offering your customer the opportunity to comparison shop.   They can look at your products and then compare what you are offering with the products that your competition is offering. 

Attention for your brand

Sometimes, your primary marketing objective is to promote your company and your brand.  A trade show allows you to present your corporate identity to a targeted group of customers and prospects, helping to raise your visibility and industry standing.

Competitive advantage

Trade shows provide a unique opportunity to position your company to its best advantage by learning more about your industry and your competition. At every trade show, you can gain a lot of new information about your industry and how your company fits into the mix by walking the floor. There is no better time to learn about your competition, whether you visit their booth, attend their presentations or pick up their latest literature.

Forward thinking

As marketers continually evaluate new and traditional methods for reaching their target markets and generating sales, it may be tempting to think that trade shows are becoming a thing of the past.  But the exhibit industry is rapidly evolving to meet the changing needs of the businesses it serves.   As you consider how trade shows can best fit into your marketing mix and serve your business objectives, consider how your company might make changes to better serve your clients in the future and how you can demonstrate those improvements at your next event.

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Overview: The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality. In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way. “We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.” Amenities: The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.  The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need. Gold Key Members The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events. OCCC Events: This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.  The Center’s top five events during their 2022-2023 fiscal year included:  AAU Jr. National Volleyball Championships 2023 200,000 Attendees $257 Million in Economic Impact MEGACON 2023 160,000 Attendees $205 Million in Economic Impact Open Championship Series 2023 69,500 Attendees $89 Million in Economic Impact Sunshine Classic 2023 42,000 Attendees $54 Million in Economic Impact Premiere Orlando 2023 42,000 Attendees $108 Million in Economic Impact