The exhibition industry is experiencing a transformative phase, and today, Explori, Exhibitor Group, and The Exhibitor Advocate have unveiled a ground breaking state-of-the-nation report. This report provides unprecedented insights into the exhibition industry from the perspective of exhibit marketers.
Conducted by live event research specialists Explori, the comprehensive report encompasses extensive quantitative research and represents the findings of 255 exhibit marketers running event programs across industries and organisations of all sizes.
Current Challenges and Opportunities for Exhibit Marketers
The primary aim of this report is to offer a profound understanding of the current challenges, strategies, and opportunities faced by exhibit marketers who have decision-making power or advisory influence over participating in trade shows. According to the study, exhibitions continue to be a highly valued sales and marketing channel for event teams and their senior leadership. However, the global inflation situation and the escalating costs associated with exhibits are leading to a redistribution of spending and potential budget cuts for exhibit-related activities.
The research highlights a growing concern among both exhibition organisers and corporate event teams regarding the current inflationary conditions. While the demand for in-person events remains high and trade shows have witnessed a resurgence, there is a significant discrepancy between the rising costs of exhibit programs and budget constraints. The absence of comprehensive measurement data to demonstrate the tangible value exhibitions provide in achieving business objectives further compounds the issue.
Recognising the significance of this research, Mark Brewster, CEO of Explori, expressed enthusiasm about delivering and funding the study when approached by the Exhibitor Advocate. He emphasised the concerns raised by clients within the industry and the urgent need to address the challenges posed by inflation and limited measurement data.
~Sam Harper, Managing Director of Creation Exhibitions, hailed the report as a game-changer for the exhibit marketing industry. It offers a comprehensive overview of the challenges and opportunities faced by exhibit marketers while providing actionable recommendations to drive success.
Mark Johnson, Owner of Exhibitor Group, echoed this sentiment, expressing excitement about partnering with Explori and The Exhibitor Advocate to deliver timely and relevant content essential for event professionals.
Key Findings: Dynamic Nature of Exhibit Marketing in 2023
The report’s key findings shed light on the dynamic landscape of exhibit marketing in 2023. Here are some notable statistics:
- Expected Changes in Exhibit Programs: A staggering 94% of surveyed exhibitors anticipate some level of change in their exhibit programs over the next three years. This reflects the industry’s recognition of the need to adapt and evolve in response to emerging trends and challenges.
- Impact of Exhibit-related Costs: Among those planning to participate in fewer in-person shows, 82% cited exhibit-related costs as a significant factor influencing their decision. This highlights the growing financial considerations that organisations must navigate when planning their exhibit strategies.
- Significance of Previous Experience: According to 61% of exhibitors, previous experience at a show is a crucial factor in their decision to exhibit. This underscores the importance of delivering memorable and impactful experiences to attract repeat exhibitors and engage new ones.
- Demonstrating Event ROI: Exhibitors face internal challenges in demonstrating event return on investment (ROI) to senior leadership, with budget pressures being a key obstacle. While many senior leaders still recognise exhibits as valuable marketing channels, 30% now question their essentiality.
The state-of-the-nation report released by Explori, Exhibitor Group, and The Exhibitor Advocate provides invaluable insights into the exhibition industry, specifically from the perspective of exhibit marketers. As the industry grapples with rising costs and budget constraints, the report serves as a call to action for organisations to adapt their strategies and demonstrate the measurable impact of exhibits on achieving business objectives.