Many companies are questioning what aspects of their operation should be cut back on because of the serious trading climate. The knee-jerk reaction is to cut costs wherever possible, marketing in particular is one of the favoured areas for wielding the cost cutting axe and trade show exhibitions are one activity which is frequently reviewed.

The question is, why bother exhibiting at all?

First of all, trade shows work and they work very well – they work so well in fact, that they ought to be viewed as a profit center rather than a cost center.

Exhibiting is a strategic activity which extends the depth and range of our marketing campaign into our core markets and also uncovers new markets for our company’s products and services.

Buyers Value Trade Shows

Company buyers use trade shows extensively to augment their understanding of suppliers and the providers of existing and new solutions for their business’ problems. The key advantage of trade shows in the eyes of buyers is that suppliers are centralized in one location; it becomes simple to cross-compare and contrast solutions and different pricing between the range of suppliers available to them.

The Center for Exhibition Industry Research (CEIR) has found that more than 90% of attendees’ value trade shows because they are their most valuable source of information when it comes to making buying decisions.

The Numbers Add Up

Generating a qualified lead from the field costs almost 50% more than generating a qualified lead from a trade show. In simple economical terms, trade shows are one of the cheapest forms of obtaining qualified leads to work for new business, but if this was all there was to the equation then it is likely other lead generation services would adjust pricing to compete.

The reality is that generating qualified leads is only the start: closing costs for a qualified lead from the field are approximately 60% more than for closing a trade show lead.
Bluntly, trade show leads are one of the cheapest qualified leads you can source and are one of the very cheapest leads to convert.

Quality Attendees: “Chiefs”

Trade shows are strategic activities, not just from your perspective as an attendee but also from companies looking for solutions to their issues and trying to gain an idea of where the market is heading. For this reason, many senior managers attend trade shows and it is not unusual to find CEO, COO, CMO, CTO or CIO affixed to an attendee’s name one their business card.

Prospects Come to You

Just as company buyers view trade shows as a gathering of potential business partners and solution providers, you are also able to access a concentrated pool of potential buyers. All the attendees are coming to your venue and are in one place – the adage applies that if you are hunting lions you should go to Africa, but in this instance potential customers are all coming to you and are in one place at the same time. This maximizes your opportunity to interact with prospects and qualify them, and in some instances to close sales at the venue itself.

Author Bio: Lawrence Reaves works with ExhibitWholesale, a leading provider of trade show displays and accessories such as pop-up displays and trade show flooring. ExhibitWholesale can be found online at: ExhibitWholesale.com .

Category: Marketing
Keywords: tradeshows, trade shows, why trade shows, going to trade shows