When times get tough – Exhibiting can boost sales
When times get tough or the economy is bad, marketing budgets seem to be one of the first things cut when companies are looking for ways to save costs. While it is certainly smart to re-examine where your marketing and all other business expenses are going, for goodness sake, don’t stop promoting your products or services – the very things that generate income and profit for your business!
Advertising and marketing budgets can be an easy target for cuts during a down economy. Businesses think they can reduce their spend in these areas and make up for it when the economy improves. During tough economies, cutting back your marketing may actually cripple your business. Instead of shutting down your marketing efforts, consider increasing (or at least stabilizing) your efforts in these areas.
If you are not happy with the ROI in any particular area of your marketing efforts, it is more important than ever to pinpoint exactly why you did not achieve the results you expected. Did you target the right audience? Did you have a message that compelled the reader or viewer to buy your product or try your service? Do you have a consistent brand image in all your printed materials and on your website? Are you relying too much on the forms of advertising and marketing you grew up with?
With most traditional marketing models, it is relatively easy to identify your return on investment. In the area of trade show marketing, it is more difficult to quantify your efforts, as there are many variables to consider. And some, such as how well the event was promoted, you have no control over. That is why it is so easy to put the blame for less than stellar results on some other entity and not your own marketing efforts. But when the right decisions are made, trade shows can be one of the most effective means of getting a high rate of return on your investment.
You may be wondering exactly how valuable investing in trade show selling and promotion of your product is, so here are a few key statistics and facts to help:
- Over 80% of attendees are either the final decision maker or have some degree of buying power
- 85% of decision makers say attending trade shows saves their company time and money by bringing vendors together under one roof
- -79% of the attendees say that attending shows helps them decide on what products to buy
- -91% of attendees say that trade shows impact their buying decisions because the competition is in one place allowing for comparison shopping in real time
- -81% testify that trade shows help attendees become aware of new products and services
- -91% of attendees say they get the most useful buying info from trade shows and events
- Trade shows cost 38% less than sales calls
- Trade show visitors will tell 6+ people about their experience
- Trade shows are the #1 business-to-business marketing spend to support sales, beating out specialty publications, internet, promotions, and PR respectively.
Exhibit companies like ours will consult with you to help you determine how you can get the most bang for the buck trade show marketing can help you achieve your marketing objectives and stay ahead of your competition.