Research
budgets and in-house event budgets have effectively halved at this time . It will be interesting to see how this survives contact with CFOs as planning for 2021 crystalises .
But will these budget cuts manifest themselves in shows being dropped from a tradeshow marketer ’ s plans , or as an overall belt-tightening ? The picture is complex . While we can definitely see that the more severe the budget cut , the more likely an exhibitor is to reduce the number of shows they support , it is also true that , even for companies experiencing the largest cuts to their tradeshow budgets ( in excess of 50 %), they are still equally likely to continue to exhibit as frequently as to start dropping shows .
How has the cancellation and / or postponement of events at which you were due to exhibit affected your businessses ?
70 %
60 %
50 %
40 %
30 %
20 %
10 %
0 %
37 %
Less awareness of specific products / services you offer
45 %
Lower sales
48 %
Generated fewer leads
59 %
Less brand exposure
66 %
Fewer networking opportunities
What is drawing audiences back to live ? This study has confirmed that building connections by networking is a unique aspect of live events , that has yet to be effectively replicated by other channels . Two-thirds of both visitors and exhibitors have experienced fewer networking opportunities while there have been no live events . This translated into fewer leads generated for businesses ( 48 %) and ultimately lower sales ( 45 %).
Digital events are not currently filling this gap , with “ quality of networking ” being the area they scored most poorly in comparison to live events with only 8 % of exhibitors feeling that digital could compete with live .
While our audience is supportive of sensible health and safety measures , they are reluctant to accept any measures that impede their ability to network , telling us that any reduction on social and networking activity reduces their likelihood to attend an event . This presents a challenge for organisers and venues alike . How can we offer high quality interaction while still following Covid Secure guidelines ? And how can we offer an equivalent networking experience to our visitors who currently want to participate virtually ? I ’ m sure many innovative solutions will emerge .
Quality vs . quantity ? We wanted to know what factors organisers should prioritise to ensure their show was a ‘ must attend ’. Here our respondents were unequivocal . They will be evaluating shows based on the quality of the visitors and exhibitors .
While visitor quality has always been an important factor for exhibitors , we can now see that it far exceeds the importance of visitor numbers , with 58 % of exhibitors thinking it a priority for organisers vs . only 38 % who were concerned about numbers . Exhibitors appreciate that visitor numbers may be restricted for a period of time , so they want to ensure that those they do meet are both relevant and purchase-ready .
Interestingly , we also see exhibitor quality emerge for the first time as a critical factor driving visitor attendance . Where previously , we might have seen quality of education and content being the biggest factor , with 34 % motivated by exhibitor quality vs only 14 % motivated by high quality education , this is an interesting shift . Again , we can see the unique aspects of live events at play ; the ability to meet the most relevant suppliers in one place , being seen as much more important than education , an objective which can potentially be achieved elsewhere .
For the first time , cost of attending has also emerged a decision factor for visitors , with 39 % citing it as a priority . This in part may be driven by pressure on travel budgets , but it can also be seen in the context of the availability of digital events , which visitors recognise can now provide them with high quality content at the fraction of the cost of attending in person .
Future insight plans As the situation is constantly evolving , both in terms of access to live events and uptake of digital events , we asked participating organisers to reserve a portion of their data to allow for a second phase of research beginning December 2020 .
The first report is now available for UFI members via ufi . org , while other verified tradeshow organisers and venues can request a copy via explori . com
50 Issue 5 2020 www . exhibitionworld . co . uk