The Center for Exhibition Industry Research (CEIR) found in a recent survey of nearly 300 B2B marketers that the proportion of their budget allocated to trade shows has maintained a steady course over the last couple of years. Here's an extract from CEIR's recent press release.
"Starting in 2010, the percentage allocation increased to 40.2 percent compared to 33.9 percent in 2009 and has held at this higher level, with a 39.2 percent allocation in 2011"
The participants in the CEIR survey exhibited in at least one B2B exhibition in the past two years and have a minimum of $10 million in annual revenues.
We were a little surprised by those numbers, especially after reading about the demise of face-to-face marketing events. It's of course very important to understand who's behind a story. Companies that tout online or inbound marketing tactics may dismiss or play down the importance of trade shows and seminars, while industry groups like CEIR have a keen interest in promoting their effectiveness.
We have to agree with the following statement from the folks at MarketingProfs:
"Many have pronounced trade show marketing dead. But with the right strategy, hard work, and flawless execution, trade shows can still be a productive part of your marketing plan."
In their article they go on to give 12 great tips to help you make the most of your events:
- Start planning early
- Make sure the audience is a good fit
- Get on the presentation agenda
- Establish a service level agreement with Sales
- Negotiate for the full list of registrants
- Promote your participation to customers and prospects prior to the show
- Demand aggressive and professional performance from booth staff
- Capture detailed lead information
- Provide giveaways, raffles, and tchotchkes
- Enter all leads into a CRM system for Sales follow-up
- Continue post-show marketing with an appropriate offer
- Hold a post-mortem review with Sales and Marketing
Seem like the trade show isn't dead after all! Thanks very much to both CEIR and MarketingProfs for sharing this information. We've had some great recent experience with helping clients make the most of their trade show presence, so if you need help in executing those 12 tips just let us know!