We can't consult a crystal ball to see into the future, and we won't be able to get a genuinely reliable answer anytime soon. We are all hoping for the Covid-19 vaccination and wondering how this will change the behavior of exhibitors and visitors.
A US survey of marketers reveals several interesting findings.
trade fair budgets
In the US, marketers were asked if their 2020 trade show budget was cut and, if so, by what percentage. People from around the world participating in the exhibition booth design Dubai.
68% of the respondents confirmed a reduction in their marketing budget, and 30% reported a more than 60% reduction in their marketing budget. The question is whether 30% with significant budget cuts is a lot or a little during a pandemic.
The remaining 38% of respondents with budget cuts said their budget was cut by 50%. The remaining 32% of respondents confirmed no changes to their marketing budget.
outlook
Estimates of the budget for a return of the trade fairs were also asked. Of those surveyed, 13% do not expect the fair trade budget to return to the old level. 18% expect their original budget back, and 66% assume a lower allocation than initially.
Trade fair participation in 2021
The expectation of the number of trade fair participations was also asked. An average of 40% lower participation in the fair trade company is expected. Because of the difficult first six months of the coming year that is to be expected, this is still a moderate decline.
There is no doubt that companies want to attend live events. Despite the effort of virtual techniques, which will continue to be used in the future, the live event for companies remains an essential component for success concerning the following points (in order of importance).
- Generation of Leads
- Increase in brand awareness/awareness
- networking
- Possibility of actual product presentations/product launches
As of November, around 50% of those surveyed stated they considered participating in trade fairs after the summer of 2021. The other 50% even as they will participate part in trade fairs before the summer of 2021.
We can't consult a crystal ball to see into the future, and we won't be able to get a genuinely reliable answer anytime soon. We are all hoping for the Covid-19 vaccination and wondering how this will change the behavior of exhibitors and visitors.
A US survey of marketers reveals several interesting findings.
trade fair budgets
In the US, marketers were asked if their 2020 trade show budget was cut and, if so, by what percentage. 68% of the respondents confirmed a reduction in their marketing budget, and 30% reported a more than 60% reduction in their marketing budget. The question is whether 30% with significant budget cuts is a lot or a little during a pandemic.
The remaining 38% of respondents with budget cuts said their budget was cut by 50%. The remaining 32% of respondents confirmed no changes to their marketing budget.
outlook
Estimates of the budget for a return of the trade fairs were also asked. Of those surveyed, 13% do not expect the fair trade budget to return to the old level. 18% expect their original budget back, and 66% assume a lower allocation than initially.
Trade fair participation in 2021
The expectation of the number of trade fair participations was also asked. Overall, an average of 40% lower participation in the trade faircompanyexpected. Because of the difficult first six months of the coming year that is to be expected, this is still a moderate decline.
There is no doubt that companies want to attend live events. Despite the effort of virtual techniques, which will continue to be used in the future, the live event for companies remains an essential component for success concerning the following points (in order of importance).
- Generation of Leads
- Increase in brand awareness/awareness
- networking
- Possibility of actual product presentations/product launches
As of November, around 50% of those surveyed stated they considered participating in trade fairs after the summer of 2021. The other 50% even as they will participate part in trade fairs before the summer of 2021.
Virtual trade fair participation and its effects
The topic of virtual trade fair participation arose under enormous (time) pressure due to Covid-19, as it is currently the only way for companies to present themselves. No wonder the experiences here are very different, depending on how professionally a virtual trade fair appearance was developed in such a short time. It turns out that the previous virtual participation did not achieve the desired results and revenues compared to live participation.
But there are now many excellent options for setting up virtual environments (see here, for example).
More than 70% of those surveyed stated that they spent less budget on virtual trade fair participation. Almost 90% said that they also generated fewer too much fewer leads as a result.
Expectations of trade fair organizers and visitor numbers
When asked how they think visitors will react when trade fairs occur again, almost 90% of those surveyed expect fewer or fewer visitors. All in all, this is not surprising, as it also reflects our expectations of participating in a trade fair.
However, the interested visitors are probably included in the lower expected number. Because when looking at the visitors of a trade fair, they can be divided into different categories. The visitors with a confirmed purchase intention, those interested in networking, and those interested in gathering information or even expanding their knowledge and further education.
The expectation is that the last three categories of trade fair visitors, in particular, will ignore participation in the trade fair for a little longer, but those interested will participate with the intention of buying. Fewer visitors are therefore expected, but with higher quality.
There are also concerns about the trade fair organizers. Almost 30% have severe problems about whether a trade fair will take place, 55% are worried, and 15% are not concerned about it.
Measures that contribute to a greater sense of security at the trade fair
When asked under which conditions and with which measures one can imagine participating in a trade fair, the following were mentioned:
- Temperature control at the entrance
- Hand cleaning stations (see examples here)
- On-site health tests (quick tests)
- General check-ups
- Face masks/masks are compulsory (see examples here)
- Compliance with distance rules (see examples here)
- Possible room reservations
- Well-equipped sanitary facilities
- New air filter systems (see examples here)
Medium-term effects
In the medium term, Covid-19 will have many effects on trade fairs:
- Presumably, lower trade fair budgets
- Fewer real events
- Increasingly virtual/hybrid events (part live, part virtual)
- Increasingly smaller trade fairs (smaller venues)
- Smaller exhibition stands
- Structurally different exhibition stands
- Other forms of product presentations/launches
- Changes in sponsorship
- New and permanent requirements for sanitary facilities
- No long keynote sessions
- temperature controls
- Lower visitor numbers
- Smaller stand crew
- Wider passageways in the exhibition hall
- Additional road shows
- More outdoor events
- Change towards smaller national/regional events
- acceptance of international trade fairs
- Controlled visitor access through bookable time slots
