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Trade shows produce most business leads, according to new report

In the ever-changing global business community, staying ahead of your competition can be the difference between resounding success and a lower market share. That’s why businesses are constantly updating their communication approaches to reach new audiences and convert more people into buyers. In the case of business-to-business marketing, the best way for companies to generate new leads is through trade shows, according to the B2B Demand Generation Benchmark report from Software Advice.

The report provided key insights into just how powerful trade show interactions can be in the field of finding new buyers and business partners. Software Advice found 77 percent of B2B marketers said trade shows produced the highest number of leads. However, it’s not just the number of leads that matters, but rather the quality that counts for more. Roughly 82 percent of respondents indicated the leads they garnered through trade shows were of “good” or “excellent” quality, meaning conversion rates are higher and the chance for increased business activity rises.

The reason that trade shows stand out amongst a plethora marketing tactics is that in today’s world, it can be more difficult to find meaningful one-on-one contact as opposed to being bombarded with digital campaigns, the report found. With social media, email, web content, television and radio outlets littered with advertisements, people may be turned off by this approach. Trade shows, however, offer a real opportunity for businesses to interact in a personal manner, which makes it easier to form a bond with a potential new business partner.

Trade shows produce most business leads

Effectiveness
According to the report, social media and email marketing are the least beneficial methods of generating leads, while video and surveys are the two best ways for businesses to use content to their advantage. By implementing these strategies live at trade shows, businesses may be able to reap the rewards of such a highly tailored strategy.

Though the average company uses 11 or more software applications for marketing, 41 percent of B2B marketers are looking to increase spending for generation demand programs.

The goal for businesses should always be to refine their marketing techniques to improve effectiveness as much as possible. An Exhibit survey showed that companies’ efficiencies in creating meaningful engagement with attendees has steadily risen over the past 15 years. Compared to 1998, efficiency levels rose 12 percent in 2013. This index tracks the level of high-quality interactions and the likelihood for follow-ups, which is a good indicator of how well trade show exhibitions are performing.

Marketing in the future
As the economy continues to add more jobs, the development of new startups and small businesses could increase. This will further bring about the need for companies to target their specific markets in a way that is unique from their competitors. Some of the top marketing tools in the future will rely specifically on content and mobile-friendly platforms, according to Forbes. However, as more businesses research ways for greater outreach, buyers will still be impacted most by simple messages.

By identifying a brand and creating marketing devices that communicate a company’s strategy in an easy-to-understand way, businesses can create new relationships, which can drive sales. Trade shows provide the best way for complex ideas to be effectively communicated in a simple, direct way.

“[Trade shows] are always the tactic that marketers rate as the most effective,” said Michele Lin, content development director at the Content Marketing Institute, according to Software Advice. “In the digital age, where so much stuff is online, there’s something exceptionally powerful about doing in-person events – if done well.”

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