There are more directions a marketer can go today than ever before.
According to Smart Incites, 112 in fact. Can any one company manage that many? Not a chance, so marketers have to pick and choose. Since there are so many channels available, some of the oldest, yet most effective, have been lost in the option avalanche.
Like trade shows.
Trade shows are a tried, tested and true way to enhance lead generation, brand awareness, PR and generate contacts, yet they are suffering from a bad reputation because they seem so, well, old. Trade shows have been around for many years, however, businesses shouldn’t question their effectiveness because the stats tell an interesting story.
A report outlined by the Center for Exhibition Industry Research explains that “81% of trade show attendees have buying authority, which means more than 4 out of 5 people walking the aisles are potential customers for exhibitors.” This is significant because trade shows allow your business to communicate with new consumers, leading to an increase in the awareness of your products, and potentially substantial product sales.
In addition, “78% of trade show attendees travel more than 400 miles to attend an exhibition”. This allows your business to connect with a national audience and continue to grow and develop your brand. When looking deeper into the value of trade shows, further research specified that “99% of marketers said they found unique value from trade shows they did not get from other marketing mediums.”
Trade shows provide organizations with the opportunity to have face-to-face contact with customers, resellers and other businesses. This helps to build prospects and create professional relationships with consumers. Also, trade shows provide companies with the chance to learn more about other businesses and developments within their industry. Lastly, a majority of trade shows heavily advertise their events, leading to extra media coverage and press for your organization.
Calculating ROI When the Goal is a Number of Leads
Unlike many other marketing channels calculating the ROI for trade shows is a matter of simple math. Simply put, what’s the total number for expenses compared to the number of leads generated? When adding up your expenses and punching these numbers into the calculator don’t forget to exclude certain costs from the trade show. Some would take the cost of the booth and call that your expense. There are other cost areas to consider when tallying this number, here’s a couple to consider:
- Room and board
- Meals and snacks
- Tech services
If the resultant tally is below your standard cost per lead, for you trade shows are a winner.
That’s a big reason we, NEWT, are focusing heavily on trade shows this year. For us they are a fantastic channel for us to get the word out. We try to focus on show verticals where we have a proven track record, like car dealerships with multiple locations. Since we have so many in our customer base, we have great stories to tell.
The NEWT marketing team are able to connect with various consumers and can work towards understanding their needs and how our products can help them. Further, NEWT benefits from expanded brand awareness, free PR and media, all of which we can leverage on our social channels.
The NEWT PBX, along with other technologically advanced NEWT products have sophisticated features to enhance productivity of an organization while providing a simple, managed solution, ultimately helping the company cut business phone expenses. It’s a great story to tell and trade shows work for us.
Upcoming Trade Shows (Tentative):
- April Windsor-Essex – Regional After Business Tradeshow
- Guelph – Tabletop Tradeshow
- June London CC – Business Expo
- May Greater Niagara CC – Business Expo
- September Brantford-Brant
- Ajax-Pickering – Business Expo
- Peterborough – Prosperity Tradeshow
- October Greater K/W CC, Guelph CC, Cambridge CC – Business Expo
- Burlington – Small Business Showcase
For more information please contact 1-888-996-6398, or visit our NEWT marketing team at any of the upcoming trade shows.