Why Attendees Visit Trade Shows

…or how to make a shortcut in the decision process and achieve lower prices

This is the second of three articles. I will illustrate why many companies use trade shows in the buying process. I am basing the article on my 20+ years' experience in international marketing, mainly for manufacturing companies, doing B-to-B.

The articles are based on my experience and research, including statistics and reports on trade show activities in Europe and North America within the past few years.

I have no affiliation with any of the companies mentioned in the articles; I merely use their statistics to illustrate my point.

The first article explored why exhibitors should spend a significant amount on participating in trade shows. This article takes the opposite perspective: Why should you attend a trade show as a visitor?

A Part of the Buying Process

I know that mentioning the lead funnel as three steps is pretty simplified, but Awareness, Consideration, and Conversion happen at most trade shows. This doesn't usually mean that the attendee will go from not knowing the existence of a product to buying it at the show—but it happens.

According to an American study, 90% of trade show attendees state that they intend or hope to find new products, and 90% of the attendees meet companies with whom they have not had face-to-face meetings in the past 12 months.

This means that trade show attendees are on a journey to find products or solutions that they did not know existed. Many attendees also schedule visits to selected stands as a natural part of their lead funnel, the journey to their solution.

As buyers move further down the funnel into the evaluation stage, trade shows provide the ideal environment for comparing multiple solutions.

Buyers can directly interact with products, ask technical questions, and see live demonstrations, which are critical for understanding a product's practical applications.

This phase is crucial as it allows buyers to compare offerings directly, often leading to a more informed and confident decision.

Understand the Trade Show Audience

Statistics show that 67% of attendees represent potential customers, and 46% are in the final stages of a buying decision.

This clearly shows that the attendees are not just browsing but actively looking for solutions to their problems.

A staggering 79% of attendees believe trade shows help them decide what to buy, with 74% likely to purchase a product they saw at the event.

If you are an exhibitor, this is why your trade show booth design, messaging, and overall presence must be strategically aligned with the attendees' needs and expectations.

The goal is to meet them where they are in the buying process and guide them toward choosing your product or service.

It's Marketing 101: Communication needs to be tailored to the person receiving it. Instead of fixating on your products, your messaging should zero in on your audience's needs and where they are in the buying process. It's not about what you want to say but what they need to hear to move forward.

Let me share a bit from my own experience to illustrate this. Engineers, with their natural (and deserved) pride in the craftsmanship of their products, often get wrapped up in showcasing the fine details—the shiny buttons, the sleek designs, and the brilliant user interfaces. However, when focusing on these features, they sometimes lose sight of the bigger picture. What truly matters to the attendee isn't the bells and whistles; it's how the product will solve their problems, make their processes more efficient, and ultimately save them money. The real value lies not just in how a product works or looks but in what it can do for the customer.?

Efficient Evaluation and Decision-Making

In the first article, I mentioned the harsh look from management when marketing and sales want to spend budget on a trade show. The very same harsh look might occur when people bring up the idea that they will leave the office for three days, travel, stay in hotels, and attend a "fancy" show, all expenses paid by the employer…

Though the trade show might be fancy, it is a very efficient way of fast-tracking several lead (decision)funnels simultaneously.

Therefore, Attendees should prepare a tight schedule packed with pre-arranged meetings and specific goals. They leave their day-to-day work behind and invest time and money in finding solutions. If they return empty-handed, it's not just a wasted opportunity; it's a wasted investment for their company. The trade show attendees are expected to return to the office with valuable insights, new contacts, and potential solutions that justify the time and money spent.

For exhibitors, this means that every interaction counts. Prepare your team to engage with attendees meaningfully, understand their needs, and position your offerings as the solution they've been searching for. The preparation requires a deep understanding of who the attendees are, their challenges, and how your products or services can help them overcome them. Help them get value for their investment.

Aside from knowledge, face-to-face conversation, and creating contact, the attendee expects to achieve negotiation leverage by meeting multiple vendors in one setting. This way, the buyers can compare offers in real-time, leading to better deals.

The competitive environment of a trade show, where vendors are eager to close deals, results in more favorable pricing or terms for the buyer.

The attendee should also achieve cost efficiency. The overall cost efficiency of closing deals at trade shows is notable. The cost of connecting seller and buyer at a trade show is significantly lower than through other methods, and it typically takes fewer interactions to close a deal, or at least an important connection that will help the attendee well through the decision funnel.

This efficiency can translate to cost savings for both the buyer and the seller, making trade shows a financially beneficial platform for finalizing deals.

Specific statistics on price reductions directly tied to trade show negotiations are limited.

The nature of face-to-face interactions and the immediacy of the environment typically encourage vendors to offer their best deals to secure business. For the buyer, this is a great advantage, but for the exhibitor, too, as they are exposed heavily against motivated buyers with a known group of competitors.

Are Trade Shows Worth a Visit?

The statistics strongly suggest that trade shows are worth the investment for buyers.

They offer significant advantages at every stage of the buying process, from initial research to final decision-making, by providing efficient access to a wide range of vendors, enabling direct comparisons, and often resulting in better deals.

In addition, the cost of meeting several potential manufacturers at a trade show is significantly cheaper than at your(or their) offices; according to an American survey, the cost of trade show meetings is less than half.

Additionally, the long-term relationships built at these events can yield ongoing benefits, making trade shows a valuable component of a buyer's strategy.

Just like the Trade Show exhibitors, the successful tradeshow does demand strict planning, and research prior to the show for the trade show attendees.

Plan what products and solutions you are looking for, research the companies present, and their offerings in advance.

In other words, do your homework like you always do for different projects.

If you have a plan and are well-prepared, you will get all the expected solutions, but you must still ensure that you have hours spent without a schedule. I claimed earlier that trade show attendees are not browsing at trade shows. The proper way of putting it is that they are mostly not browsing. There should always be time to find unforeseen products, companies, or ideas, knowing the exhibitors are bringing their best!