Top Trade Events Stats to Know for Growing Businesses
With an aim to increase brand awareness and reach out to potential clients, the concept of trade shows is now on an upswing. Many businesses use these trade events as a marketing strategy to enhance their product knowledge, launch new products and involve more and more customers into their working mechanisms. You wouldn’t believe nearly half of the total revenue from b2b trade shows in the US alone, is sourced from attendees’ registrations while another half comes in from the exhibition sales.
Over a thousand companies from across the globe participate in trade fairs annually. Be it the electronics, technology, fashion or clothing; each industry attracts a massive crowd of audience.
Moreover, each year, the sales potential grows invariably. According to an estimate, 82% of trade fair visitors are directly involved in real-time purchases. Whereas, the other majority has reported these events to have a positive impact on their purchases, giving them the confidence to buy in the future. After a survey carried out in America, 80% of the attendees decided to purchase the products right away because they sampled or saw a live demonstration of the service. Meanwhile, some 57% stated that a better understanding of the product during the event influenced their purchasing decision.
Top Ten Event Stats You Should Know
1. Eighty-Four% of the Business leaders believe face-to-face events are more impactful to their company’s success.
We agree that too. When the company representatives are able to speak to attendees in person and get to know their requirements, there are high chances of them working on what the audience likes to buy more.
2. Sixty-Eight% of the marketers agree that live trade shows help generate most profits.
No doubt it does! As we stated above, a trade show with a live demonstration of products and services tends to attract more audience and hence there is a higher probability of them making a real-time purchase.
3. Forty-One% of business managers believe trade fair events are one of the major effective marketing mediums for businesses nowadays.
While social media marketing and the internet are one of the biggest sources of online marketing, many experts still count on the power of trade shows and their live product demonstrations to promote businesses.
4. Thirty% of businesses spend 20% or more of their budgets on exhibiting and participating in events.
With the success and awareness of trade shows every year, businesses are keener on utilizing more of their budgets on exhibiting in yearly trade fairs.
5. Seventy-Seven% of marketing managers use experiential marketing to promote their brand’s strategies.
Marketers believe that customers are more likely to purchase their product/ services when they experience it live. Through trade shows, companies have a better chance of interacting with their potential customers and engage them to live in their service.
6. Twenty% increase in purchases has been witnessed during live events as compared to the last two years.
As more attendees are turning over in trade shows, the return of investments for companies has also increased since customers have started involving in real-time purchases.
7. Thirty-One% of event managers believe trade exhibitions and conferences are significant when doing business to target customer markets.
Since most trade shows permit only audience or professionals of the same working industry, companies have a greater chance to target customers of their particular industry. For instance, the CES witnesses audiences that belong to the technology and electronics sector. This way, the participating companies can easily demonstrate and workshop their services to the target market.
8. Forty-Seven% of marketers strongly believe that trade events are a very efficient and operative way to reach multiple customers. They also feel interacting them in one-on-one conversations and through seminars gives their business a good prospect for the future.
9. Fifty-Five% of business meetings and product activities in America and Europe are in the form of either conferences or trade shows. Experts believe when businesses of the same industry come down under one umbrella, the economy gets benefitted overall.
10. Eighty% of trade show exhibitors don’t take any follow up with their show leads.