Businesses are still investing in TradeshowsAnna Lee
Like many elements of business, the internet has dramatically impacted how companies market in the last 20 years. According to marketingland.com small to medium size businesses allocated their marketing budget as follows in 2013.
When asked where they are going to increase their marketing budget for 2014, the order looked as follows according to marketingcharts.com
When looking at the two charts, tradeshows are still a big part of company’s budgets. According to the first chart, tradeshows consume 14% of a small to medium businesses market budget. And by the second chart – 21% of companies surveyed plan on increasing their marketing expenditures for tradeshows in the future.
Here are some interesting tidbits we picked up about tradeshows
205 Million people in the United States attend 1.8M conventions, conferences, congresses, trade shows and exhibitions, incentive events and corporate/business meetings each year. –conventionindustry.org. We understand that a conference and convention are not the same as tradeshows but often they are combined under one venue.
The top 5 cities in the world for conventions:
- Berlin Source: hospitality.about.com
The top 5 US cities for conventions:
- Las Vegas
- San Diego Source-USA today
The most popular month for conventions is January, the least popular month is December. Source – http://www.tsnn.com/
The industries that have the most tradeshows per year:
- Industrial Products 2,892 TradeShows
- Business Services 2,389 TradeShows
- Gifts & Handicrafts 1,889 TradeShows
- Medical & Pharmaceutical 1,416 TradeShows
- Agriculture & Forestry 1,409 TradeShows
- Food & Beverage 1,167 TradeShows Source: http://10times.com/tradeshows/by-industry
According to http://www.tradeshowinstitute.com, the average cost for an exhibit is $22.32 per square foot and on average the exhibitor total trade show expenditure is three times the exhibit fee. So if an exhibitor as a 12 x 12 booth, they will incur a $3215.00 exhibitor fee and can plan on spending a total of $ 9642.00 for that show. This cost does not include the cost of personnel to staff the show, but does include the costs of transport and set up.
Most businesses who exhibit at tradeshows will do several per year, but that varies by industry and company size.
Exhibit transport, set up and tear down comprises a fair amount of cost. Packnet specializes in custom tradeshow cases. Our tradeshow cases are designed to ensure that the exhibit materials are transported without damage. We also design them to maximize efficiency in set up and tear down. They are durable so that they can be used over and over again. Packnet has been designing tradeshow cases for over 25 years. For more information on tradeshow cases, see our webpage at http://www.packnetltd.com/reusable-packaging/wooden-trade-show-crates/, or call us at 952.944.9124