The number one way to judge any business activity is by the dollars and cents. Customer goodwill and brand awareness are great things to build, but most decision makers are going to want some hard and fast numbers to tie in to their 2020 business planning. So here are 3 key numbers that can help you benchmark the success you should plan to generate from any particular tradeshow that you invest in.
1. The cost per lead from tradeshows is less than half that of leads from the field.
It costs $215 to generate a lead from a trade show, while generating a lead from the field costs $443. By concentrating the dollars spent at trade shows across dozens or hundreds of leads at once it is more cost effective than generating a handful of leads encountered on a traditional business trip or roadshow.
2. 77% of executive decision makers found at least one new supplier at the last show they attended.
Tradeshows are proven to create new business opportunities for exhibitors. If 3 out of 4 of your prospects are finding a new supplier at the next show they attend, not attending will just increase the odds of your competitors cashing in.
3. 81% of trade show attendees have buying authority.
Companies do not waste their resources on grating tradeshow attendance to employees that are not key decision makers. 4 out of 5 people walking through the show are potential customers for exhibitors.
- McKee J. “Let the Numbers Fight for You,” [report]. Center for Exhibition Industry Research. 2009.
- CEIR: The Spend Decision: Analyzing How Exhibits Fit Into The Overall Marketing Budget
- Skyline Exhibits market research