11 theses on the digitalization of the trade fair industry

It is clear that trade fairs today need a digital component. But what it should look like is less so. 11 theses on where the journey could take us.

The world of the trade fair industry is more volatile than ever. In addition to the constant assertion as an important instrument in the marketing mix, there are new topics such as the increasing call for sustainability or the already somewhat more established topic of digitalization: these are huge mechanisms that will have or already have an impact on all trade fair organizers. With digitalization in particular, the path seems to be there, but it is not yet clear where it will lead. 11 theses that make this path more tangible.

Thesis 1: There is no question that trade fairs must be extended digitally.

Trade fairs have always brought supply and demand together. Today, they have to do this not only on site, but also digitally. Visitors who wander through the exhibition halls at random every 2 to 3 years are no longer the goal. Unfortunately, that is the only thing that is clear at the moment. Opinions are already divided on the goals that these digital extensions should achieve.

Thesis 2: Digital extension must achieve three goals: Improve the physical trade fair (1), open up new sources of revenue (2) and reduce costs (3).

Also in the future, the core product of trade fair organizers will be the physical event. The main objective of a digital extension must therefore be to improve and strengthen the physical fair. However, trade fair budgets are under pressure, which means that a digital extension must give access to new budgets as a second goal. We are convinced that trade fairs are in the right position to launch an online marketing offering alongside their live marketing product. This would allow them to tap into the general marketing budget of exhibitors. The final goal is to reduce costs. And this can be achieved if organizers think the same way in the digital world as they do in the physical space. More on this under thesis 7.

Thesis 3: The ultimate goal: More "return on time" for visitors.

When we think about digital extensions, we always have to start with the visitors. If they achieve their goal of finding the right exhibitors, then not only are they happy, but so are the exhibitors and organizers. So what needs to be done to improve the trade fair for visitors? Quite simply: increase their "return on time". Visitors invest a lot of time in their trade fair visit and want a return: input to solve their challenges, getting to know new suppliers, inspiration. It is clear that trade fairs compete with other options, such as Google searches.

We have read a large number of visitor surveys in recent years. The "return on time" of trade fairs currently seems to be "ok". The basic tenor of these surveys: The trade fair was good and it was right to be there, but - it is always a bit the same and there were little new things. It is almost impossible to find nothing new at a trade fair. So why is that the case in the eyes of visitors? Because people are no longer prepared to search on the spot. They are used to finding things quickly and easily on the internet. This is exactly what a digital extension must be able to do. If we manage to get visitors to discover two new things online on the trade fair platform and then to visit two new exhibitors on site well prepared, their "return on time" will increase from "ok" to "very good".

Thesis 4: The biggest misunderstanding in the trade fair world: Exhibitor content is inferior because it is promotional.

Trade fairs must make it possible for visitors to discover new things online and then visit these exhibitors on site. However, exhibitor directories are reaching their limits here. Today, it's no longer about finding a list of suppliers for product category XYZ. It's about discovering solutions to specific challenges, e.g. "my company needs to become more sustainable" or "my product needs to become lighter". These solutions are often very complex and sometimes unexpected. They need to be explained. This requires content from the exhibitors.

This is absolutely crucial. Because only this content enables visitors to discover relevant and new exhibitors. This is one of the biggest misunderstandings in the trade fair world. We often hear the argument that exhibitor content is promotional and therefore inferior. On the contrary, when visitors read exhibitor content, the trade fair fulfils its value proposition and brings visitors together with exhibitors. So, if trade fairs can fulfil the flow: Interest => Content => Exhibitor, they will be better for everyone involved.

Thesis 5: Key to a new business model: Organizers can also create a "return on time" for visitors after the trade fair.

Visitors come to a trade fair to engage with the topics that interest them (e.g. how can I make my products more sustainable). These topics also occupy them after the event. It is often even part of their job to stay up to date on them. At the moment, this need is met by subscribing to newsletters from relevant companies, reading magazines, regularly visiting selected websites or via social media such as LinkedIn.

Trade fairs can contribute here by aggregating news from their exhibitors throughout the year and making it available to visitors filtered according to their interests. Using personalized email updates for visitors, the trade fair can become the industry's "super newsletter". Relevant exhibitor content is compiled individually for each person.? This allows visitors to stay up to date with less effort - which creates a "return on time" for them.

And this is precisely the key to launching an online marketing offer. After all, exhibitors want to reach these people after the trade fair and have the budget to do so. Currently, they just don't spend this money at trade fairs, but on adverts, Google Ads or LinkedIn campaigns. A situation that can be changed.

Thesis 6: Content marketing trend: A huge opportunity for trade fair organizers and exhibitors.

66% of all companies today engage in content marketing (Content Marketing Study 2023, page 14), i.e. they produce high-quality content that generates added value for their target group. What many companies need is reach for their own, usually expensively produced content. And this is precisely where a great opportunity lies for trade fairs. If they manage to activate their visitors in a content platform, they have huge reach in one fell swoop: tens or even hundreds of thousands of people from a highly specific target group. At the same time, they already have the business relationships with their exhibitors who want to reach precisely this target group and can offer them an attractive new channel.

Thesis 7: Trade fair brands are ideal for a content marketing offer

There are few brands better suited to launching a content marketing offer than a trade fair. This is because the brand stands for a (physical) platform where companies can present their new products and innovations on their own booths - without the trade fair itself being involved. This means that in the context of a trade fair brand, company content is simply content. This is different for trade magazines and newspapers, for example. Their brand stands for their own editorial content. In this context, company content represents "sponsored content", which is perceived as inferior.

In addition to their live marketing product, trade fairs should therefore launch an online marketing offering where they sell exhibitors and non-exhibitors reach for their own content. This will turn them into a year-round content platform, a compendium for their industry.

Thesis 8: Conserve resources: The use of exhibitor content can reduce the effort and costs for organizers.

Exhibition halls are primarily filled by exhibitors, not by organizers. And it is because of these exhibitors that visitors come. However, trade fairs think differently in the digital world. Here, they see themselves in the lead filling their trade fair websites with content and creating ever more extensive programs so that they can communicate something in the run-up to the event. A paradox, because at the same time we hear from almost all organizers that they have resource problems and that visitor mobilization is becoming increasingly challenging. This problem can be solved if trade fairs think the same way online as they do offline and let exhibitors fill their websites with their content. This would free up a lot of resources that can in turn be invested in the further development of the formats. And it offers a further advantage: exhibitors who deal with content in good time will automatically better present their messages at their booths.

Thesis 9: Less is more: Trade fairs should not overburden exhibitors and visitors.

Many digital solutions seem to follow the logic of "more is more". The consequence: an incredible number of features for visitors and exhibitors. What is forgotten is that most of these features have a "marketplace character", i.e. they have no value in themselves, but only when a critical number on both sides use the feature. This is often not the case with the abundance of features, with the result that everything remains below the critical threshold and is therefore hardly used at all. We are therefore firmly convinced: Less is more! Trade fairs should focus on just a few features that are actually used and therefore generate value. Another advantage: the complexity and need for explanation for all participants is reduced.

Thesis 10: The most important KPI: The marketing value generated for exhibitors

The primary goal in digital must be the same as at the physical event: To create as many and as valuable interactions as possible between visitors and exhibitors. The great thing about digital is that they can be quantified. For example, when visitors click on an exhibitor's link on the trade fair website and visit their website, this generates value. Companies have to spend money to generate these visits on other channels such as LinkedIn, Google Ads and the like.

This means that benchmark values can be set for each interaction and a hypothetical marketing value can be calculated. This marketing value indicates how much exhibitors would have to spend on another channel in order to reach the same target group with the same intensity. It is therefore a quantifiable value that trade fairs generate online. We are convinced that organizers should aim to increase this marketing value. Because if they generate enough value for their exhibitors, they will be able to commercialize it and turn it into revenue.

Thesis 11: Successful together: Different organizers evolve together.?

All previous theses show that the requirements for digital extensions are increasing. Most organizers will not be able to afford to develop the required solutions themselves - just as most organizers do not develop their own ticketing or planning systems. The majority will therefore go for a product offered on the market. Two things are crucial for success here: Firstly, trade fairs don't just need a software solution, but also a range of services. They must work together seemlesly - otherwise a platform will not be successful in the long term.

Secondly, we believe that a digital extension will fundamentally change the product “trade fair”. It will no longer just consist of a physical event, but will also have a digital component. This means that it is not simply a matter of selecting and implementing software, but that many processes and business logics will change. For example, trade fair teams will no longer just talk to exhibitors about their booths, but also about their online marketing measures. This means a change process and will raise a variety of questions and challenges. We are convinced that there will be communities of trade fair organizers who will use the same solutions and develop them together. In order to find better answers to all these questions together.