Are Tradeshows Still Relevant?

The debate about the value of trade shows rages on in my industry [arts & crafts] and many others. Trade shows are more expensive than ever with the cost of the trade show booth as the main expense - plus freight, plane tickets, hotel rooms, meals and most of all an investment of TIME!  

Is it All Worth It?

Industry veteran, Charlie Leichtweis who also happens to be our strategic alliance partner from Experts in How, shared his bits of wisdom:

"This result in disruption of go-to-market strategies leads to multiple considerations when addressing the question posed about trade shows:

1. In the case where mass channel retailers make up the primary focus of revenue generation for CPG companies, the selling relationship is relatively centralized in the form of home office to home office. This situation makes trade shows less necessary to the sales process and in many cases less efficient. 
2. In the case where independent channel retailers make up the primary focus for CPG companies, the selling relationship is very decentralized and difficult to manage one-on–one. Trades shows can provide a more efficient way to reach a number of retailers at a centralized location/time frame. Given the tight margins of independent retailers, it is increasingly likely that the best approach is regionally located trade shows in retailer concentrated regions. This go-to-market approach needs to be evaluated based on incremental margin based on the channel versus the additional costs of focusing on this channel.
3. In the case where the e-commerce channel is already/evolving to be the primary focus for revenue generation, there needs to be a platform of enough critical mass to make it most effective. This usually is part of a dual go-to-market strategy with other channels. It is more likely to include online “communities” rather than the trade show format."

--Charlie Leichtweis, Experts In How

Decision Factors:

• What Industry and/or channel you are targeting?
• Is your business model focused on brick and mortar customers or e-commerce or a mix of both?
• Are you trying to reach large retailers or smaller retailers?
• What’s the ROI?
• Does exhibiting at trade shows lead to more sales? 

So, is it all worth it? 

As with most issues and debates, there is more than one line of thinking about what the right answer is. Let's look at some facts.

Most important issues facing the exhibition industry worldwide

source: Statista

Confidence in future trade show marketing results in the U.S. in 2019

This statistic from Statista shows the reported level of exhibitor confidence in the results their trade show programs would receive in the United States in 2019. The data shows that 66 percent of respondents were confident, while 22 percent were extremely confident of their future program's success.

Change in attendance at meetings and events in the U.S. 2011-2019

This statistic shows the reported and forecast change in attendance at large meetings, conferences and expositions in the United States between 2011 and 2019. The statistic shows that 48 percent of respondents expected attendance at their largest events to remain the same in the year 2019.

Perceived effectiveness of trade show marketing in the U.S. 2019

This statistic presents data on the perceived effectiveness of trade show marketing in the United States in 2019, as assessed by marketers and exhibitors. During the survey, one percent of respondents reported feeling pessimistic about its effectiveness, while 42 felt hopeful.

Here is a list of the most frequent pros and cons, along with several quotes from people we spoke with about this topic. We’d love to hear your thoughts in the comments section below.  

And The Experts Say...

We surveyed a group of industry experts, both vendors, manufacturers and retailers and asked them the question "Are tradeshows still relevant". Here's what they had to say...

Recipe for Success:

• Make the booth an experience for the customer and a place to learn to add value
• Master the art of "3-second demos"
• Use trade shows as an opportunity to connect with closeout specialists to free up old inventory
• Show only relevant/new programs – due to time constraints at shows the merchants typically appreciate a focused approach
• Need a marketing push before the show to get buyers excited about coming to your booth

I encourage you to work with your sales team or sales agency on a trade show strategy to maximize ROI at the trade shows you’re attending. Some of the ways we help our clients maximize tradeshows are:

• Booth appointments to close opportunities in the pipeline
• Continuing a conversation for follow up on concepts and ideas that have been discussed prior to get more traction
• An opportunity for customers to be exposed to executives and team members that they don’t interact with on a regular basis
• Time away from the show to spend quality time with key customers in an environment out of their hometown – lunch, dinner, entertainment, even just coffee for a few minutes

These are some of the strategies you can use with your sales team or sales agency. If you’d like to explore growth strategies to increase sales and market penetration and supply unparalleled access to critical sales and inventory data, let’s talk. Email us at [email protected]

The question about tradeshows spans across many industries. Bottom-line, tradeshows are alive & well and still a great tool for face to face networking. Doing business comes down to relationships, credibility, trust, and personal connections. Although there are valid concerns and questions to process on the best way to get a return on investment, most of the data and feedback we received points to the fact that tradeshows are valuable for many companies in most industries. Would love to hear your comments and thoughts.

#artsandcrafts #tradeshows #tradeshowmarketing #Creativation2020

Further reading of Blogs & Articles on this topic

How to Get the Most Out of Your Time at Creativation

Tricks of the Trade

Are Trade Shows Worth It In the Digital Age?

Do Trade Shows Feature In Your 2019 Marketing Plan? Should They?

How do you feel about the effectiveness of trade shows as a marketing medium?

6 Secrets for Selling More at Trade Shows & Craft Fairs

Trade Show Attendance Tips

How to Organize and Run a Booth

How to Create an Effective Trade Show Display

Effective Trade Show Games

Effective Expos: Tips For Using Events And Trade Shows To Recruit Franchisees

Budgeting for Tradeshows—Not for the Faint of Heart

Tool to Determine Tradeshow ROI

About Creative Sales Consulting

Creative Sales Consulting is a full-service sales management agency for the arts & craft industry linking vendors and customers for growth and success.

We exist to provide the highest level of account management services in the industry. We grant instant access to every level of the customer’s organization, impart growth strategies to increase sales and market penetration, and supply unparalleled access to critical sales and inventory data.