The 2021 Trade Show Landscape: What Are Exhibitors To Do?
by Lisa M. Masiello
Are trade shows a key component of your company's marketing strategy?
A report published by professional services firm PwC predicts that the global trade show market will increase from $34.4 billion in 2019 to $40.1 billion in 2023. Trade shows are the fastest-growing source of revenue for businesses in the United States.
It's no wonder, then, why exhibiting at regional conferences, national trade shows, and global trade fairs is consistently listed as a top marketing strategy and receives the largest percentage of funds in marketing budgets.
What PwC could not have foreseen when they released their 2023 growth prediction, was the COVID-19 Coronavirus and the impact it would have on every business from startups to large enterprises.
The 2021 trade show landscape is a lot murkier
While this year was certainly challenging, it was straightforward - hold an online, Zoom-style event or no event at all, next year's events are still up in the air.
How much longer will the uncertainty over COVID-19 go on?
While we hear that a vaccine is imminent, we expect that doctors, nurses, and other front-line workers, as well as our elderly population, will be first to receive it.
What about those people who simply refuse to be vaccinated and carry on as if nothing ever happened? Do you want to exhibit at an event where one-third of the participants have not been vaccinated?
When will the state-by-state restrictions on large gatherings end, and when will governors lift travel and quarantine restrictions on residents of highly infectious states?
All these considerations will have an impact on whether a trade show will happen in person, online, or not at all.
What do I do now?
Have you already signed an agreement to commit your company to exhibit at a 2021 trade show?
Step back and remember why you decided to exhibit at the show in the first place.
Maybe the attendees are your perfect target audience and having them all in one place at one time will help increase your sales exponentially. Maybe you're launching a new product and the show will help generate a lot of excitement for your business across your industry.
Although the show management's strategy may still be uncertain, your company's reasons for choosing to exhibit in the first place were based on solid business objectives. They were the right objectives aligned to the right show when you made the original decision, and they are still the right ones now.
Your New Exhibitor Marketing Roadmap
While we can't eliminate the stress and uncertainty of the current trade show landscape, there are many activities you can complete now which will help pave the way for a much smoother 2021 event season for you and your team.
As an exhibitor, you know that events, whether smaller regional conferences or large industry expos, take a lot of time and effort to prepare for, so you need to start early.
On the other hand, you don't want to waste money building a large trade show booth structure or creating materials that may not be used.
While there is still uncertainty about what direction many 2021 trade shows will take, there are standard marketing tactics that you need to complete whether your show is in person, virtual, or a combination of both.
For example, every exhibitor produces a product flier, company brochure, or other piece of collateral to distribute to attendees.
You will need to write and design these items regardless of whether you ultimately print copies to distribute in person or make electronic PDF files available online.
Save time by preparing them now and putting them aside until show management makes a final decision about the type of event.
More time-saving tips
Here are some other marketing tactics which you can implement immediately. If you analyze your exhibitor checklist, I bet you'll find more items than you think.
Determine how your company's business objectives should be incorporated into your trade show sales messages, collateral, product positioning, etc.
Establish specific, quantifiable goals that you want to reach whether the show is online, in person or hybrid.
Write and design product and company brochures and any other necessary collateral. Hold off on printing them for now.
Write and create pre-show email marketing campaigns to inform prospects and customers that you will be exhibiting. Offer them a discount registration code if you have one.
Write and create post-show email marketing campaigns to thank participants for attending and provide them with additional information on your company and products.
Work with your sales team to determine what constitutes a qualified lead and come to an agreement on how the leads will be turned over to sales for immediate follow-up after the show. How and when will the leads be distributed to each salesperson? What will the follow-up process be and how will the sales team convert these leads from prospect to customer?
Remember, trade shows are a multi-billion dollar industry that provide a unique opportunity to connect with potential customers that isn't easy to replicate on any other marketing channel.
The COVID-19 pandemic may change how they are presented, but they are not going away. Making these basic preparations now will give your business the ability to respond quickly, whether your event is in person, online, or both.
The original post, “The 2021 Trade Show Landscape: What Are Exhibitors to Do?,” was published in Flackery.