MARKET NEWS

Marketers need a better approach to exhibitions for ROI

Live events and exhibitions have reclaimed their place as a vital part of the marketing mix, following the post pandemic return of business tourism and people’s need for human connection. But marketers are still leaving money on the table by not maximising their lead generation and conversion strategies.

Research shows that the global exhibition market will see seven per cent CAGR over the next few years from $39.4 billion in 2023 to $69 billion by 2032, as businesses look to showcase their products and services. In South Africa, revenue is set to grow 19 per cent this year as activity increases from 40 per cent in the first half of 2024 to 53 per cent in the second half.

“As the competitive landscape of business continues to evolve, the need for innovative marketing strategies becomes paramount,” said Gary Corin, chairperson at the Association of African Exhibition Organisers (AAXO). “For marketers seeking to enhance brand visibility and drive business growth, exhibitions and live events represent an invaluable asset in the media and marketing mix. But many brands are not yet optimising their potential.”

Exhibitions drive brand visibility

Unlike other marketing channels, face-to-face interactions at live events and exhibitions foster deeper relationships with potential customers. The tactile experience of engaging with a product or service in person can leave a lasting impression, significantly increasing brand recall.

Exhibitions also attract diverse audiences — from industry professionals, to decision makers and influencers. This concentration of potential clients makes it a prime opportunity for brands to enhance their visibility in a crowded marketplace.

By strategically designing exhibition spaces, and engaging attendees with interactive displays, brands can create memorable experiences that resonate long after the event has concluded. Trade fairs, which account for the largest share of the exhibition market, have seen a particular rise again, with a growing number of events in industries such as healthcare, technology, and manufacturing.

Tactics for better lead generation

One of the most compelling benefits of exhibitions is the ability to generate high-quality leads. A substantial percentage of attendees are prospective buyers actively seeking solutions to their needs. Brands can connect with these individuals in real-time, facilitating immediate conversations that can lead to conversions. But to maximise lead generation, it’s crucial for brands to employ effective marketing strategies. And this is where Mr Corin believes marketers could get more leverage, suggesting the following actions:

• Pre-show. Leverage social media, email campaigns, and targeted advertisements to promote a presence at the event. Engaging content, such as sneak peeks of product launches or behind-the-scenes footage, can build excitement and encourage attendance.

• During the exhibition. Implement lead capture technologies like QR codes or digital forms to streamline the follow-up process, ensuring that no potential client slips through the cracks. Additionally, offer incentives for signing up, such as exclusive access to content or discounts on future purchases, to further enhance lead capture efforts.

• Post-show. Brands should prioritise timely follow-ups with collected leads. Personalised emails that reference specific conversations or interests expressed during the event can significantly increase the likelihood of conversion. Furthermore, analysing the data gathered during the exhibition can provide insights into attendee behaviour and preferences, informing future marketing strategies.

Overall, by combining proactive outreach with effective on-site engagement and diligent post-event follow-up, brands can significantly boost their lead generation efforts and convert more prospects into loyal customers.

Measurability key to success

“Despite the clear advantages of exhibitions, many brands underinvest in this channel, often viewing it as a one-off event rather than a strategic component of their marketing mix,” Mr Corin said. “To unlock the full potential of exhibitions, businesses must recognise them as an ongoing investment rather than a mere expense.” He said that increased investment in exhibition participation should be directed toward not only the physical presence, but also the technology and analytics that can enhance the experience.

The use of digital and virtual platforms, including virtual reality and augmented reality, is set to further boost the exhibition’s growth. This includes using data analytics to measure the success of each event such as tracking foot traffic, engagement levels, and lead quality. By integrating these insights into marketing strategies, brands can refine their approach and improve ROI for future exhibitions.

Dynamic channels for business growth

Emerging economies are playing a significant role in the growth of the exhibition market. As these countries continue to develop and invest in infrastructure and industries, they are becoming popular destinations for international exhibitions and trade shows. This trend presents an opportunity for brands to tap into new markets and expand their reach.

Exhibitions can act as economic enablers, driving not only individual brand growth, but also contributing to broader industry and regional economic development. By investing in exhibitions, brands can play a part in revitalizing economies, fostering innovation, and creating job opportunities.

Investment is crucial

“Exhibitions are not just events; they are powerful marketing tools that can drive brand visibility, generate quality leads, and deliver measurable ROI,” Mr Corin said. As marketers navigate the complexities of modern marketing, it’s crucial to recognize exhibitions as a dynamic channel for business growth, he said. The unique blend of direct engagement, brand visibility, and lead generation positions exhibitions as a vital element of a comprehensive marketing strategy.

“By investing strategically, and measuring outcomes effectively, brands can unleash the full potential of exhibitions, paving the way for sustainable business growth and success in an increasingly competitive landscape,” Mr Corin said.