As a result of the dwindling economy, according to a recent survey, exhibitors have felt forced to cut down on overall participation at trade shows and other exhibition expenses in recent years. Experts suggest, however, that tradeshows simply “work,” and should be trusted to provide higher return investments. In an effort to combat the misunderstanding that a reduction of spending on trade shows would actually be beneficial to your business, a nationwide campaign entitled “Tradeshows Work” has been started, touting that “nothing can replace meeting face-to-face.”
Over three quarters of the exhibiting industry had to reduce their spending recently, according to the survey, through hiring fewer staff or attending fewer events; although more than half of these companies later admit to regretting these decisions. As a result, a majority of exhibiting companies actually plan to increase hiring and show attendance in coming years.
As the “Tradeshows Work” campaign suggests, high value can be found in generating new leads and improving existing customer relationships. Introducing and pushing “brand awareness” is another great advantage of these shows. Effectiveness is proven and can be measured by comparing collected leads and follow-ups to the number of attendees.
Trade shows aren’t only of use to the exhibitors, but to attendees of the shows, as well. Consumers are often given the opportunity to purchase products or services at discounted prices at these events, and can view a number of products to compare and contrast at the same time. New products and technologies are often revealed at these shows as well, making them crucial for industry leaders and anyone hoping to stay competitive.
As trade shows have lost some attention in the recent past due to the economy, it actually helped demonstrate their importance and vitality to a host of businesses and industries. Participation is beginning to rebound again. Reducing involvement as a way to save on marketing costs can be risky, and will only provide short-term relief. Whether learning from their presence or absence from trade shows, businesses are again starting to realize the investment is worthwhile; because in the end, “Tradeshows Work.”
(Survey: Cutting back at shows a bad idea, Exhibitors Daily)