The Future of Trade Shows - DIAMOND LEVEL SERVICE

In 2024 trade shows will be back in a big way. The industry is projected to produce $14.5 billion which is just shy of the $15.58 billion the year before the pandemic in 2019. Nonetheless, companies are looking for more out of trade shows than before and so are attendees. Just how should small and mid-sized companies view the future of trade shows?

The Benefits of Trade Shows for Small and Medium Businesses

According to the California Business Journal, trade shows can bring a quick ROI for businesses. But exhibiting at trade shows can also provide a way to get noticed in your industry, develop new relationships with potential customers and suppliers, and expose your products or services to people that otherwise would not see them. In addition, you can see what your competitors are doing. How are they marketing their products? What can you learn from what they are doing?

What Should Small & Medium Businesses Bring to a Trade Show in 2024?

The focus moving forward in trade shows will be a more personalized experience for attendees, use of immersive technologies to showcase products and services, and incorporating a greater use of social media.

Personalized Experience for Trade Show Attendees

Kai Hattendorf, CEO of UFI, the Global Association of the Exhibition Industry, predicts that the future of trade shows will be “less about presenting products and more about facilitating conversation.”

Focus on more intimate and personalized engagement between you and potential customers and suppliers. Have one-on-one meetings areas available. Perhaps create an area with couches so 3 or 4 people can have relaxed and focused conversation. Cater your exhibit look and feel to your customers daily environment. If many of your customers’ employees work from home, perhaps your exhibit can take on more of a work from home look. This will increase the attendees’ satisfaction, which will help you close more business and drive more traffic to trade shows in the future.

Smaller, Regional Events

According to David DuBois, recently retired President and CEO of the International Association of Exhibitions and Events (IAEE), future venues may be smaller because many events have become smaller and more regional in scope. This may also make trade shows more personal and engaging, something DuBois sees as a clear step forward.

The trend will be away from the large national shows and more toward regional venues in tier 2 and 3 cities. This can actually help lower the cost per show and allow a smaller company to do more events.

Technology to Increase ROI from Trade Shows

You should be looking for ways to get an optimal for your trade show budget. Technology will have a lot to do with that effort. The gathering and analysis of data will help organizers and companies better understand what attendees are looking for. This will help marketing and lead to more personalization of the experience for attendees.

The future of trade shows will incorporate Virtual Reality and Augmented Reality which can create a unique and fun experience for attendees. Product demos right at the booth can help you get a lot of attention.

Kai Hattendorf believes “we’re probably at the end of the evolution of what you can do with a pocket computer that is driven by a big screen, an iPhone or a smartphone” and that a new piece of technology, such as virtual reality goggles, may replace the smartphone as the primary device used at trade shows. He concludes that this new technology will drive “the value of the event onwards and upwards.”

Hybrid Events Can Provide Exhibitors with More Exposure

Even before the pandemic there was always a percentage of people that couldn’t make it to a trade show for various reasons. With travel concerns and constraints, and remaining health concerns, the number of reasons for not attending has increased. Businesses should develop virtual experiences so that they can increase the exposure of their products and services to those unable to attend.

Hybrid trade shows are here to stay. Creating a virtual experience for potential customers that won’t be attending is a way to gain greater exposure and show forward thinking. 62% of event planners say that they will have hybrid events.

Hybrid Events is the future of Trade Shows

A Bigger Emphasis on Social Media

With audiences becoming younger it makes sense to utilize social media before, during, and after the show. Social media live streaming is a budget friendly way for an exhibitor to promote their attendance at a trade show and frequently do live segments during the show. Attendees at the show could tune in which will help draw them to their exhibit.

Incorporate Nature into Your Trade Show Exhibit

Exhibit Trends

We already mentioned a shift toward more intimate and personalized engagement between exhibitor and attendee requiring one-on-one meetings areas at exhibits.

Exhibits should be more branded, and designs more unique. Furnishings could carry your company’s name. Exhibits should have aspects that stand out from the crowd and attract attendees. A “wow factor”. There is also a trend toward nature and the environment. Using greenery to separate spaces and earth tones in your exhibits color palate will be appealing to many attendees.

The Future of the Trade Show Industry

Two enormous factors, the pandemic and the emergence of new technology, have changed the trade show industry forever. It forced those in the industry to look at ways to make trade shows more interactive, fun, secure, and personalized for the attendee. This will certainly serve the industry well and will ensure a successful future for trade shows.