In today’s climate, it’s more important than ever to optimize your exhibit budget. Experts everywhere are reporting that the novel COVID-19 virus drastically decreased marketing event planners’ budgets. This, as well as the shifting landscape of tradeshows post-2020, has made an efficient exhibit budget invaluable.
The General Data Protection Regulation (GDPR) replaced the EU’s outdated data protection regulations in Spring of 2018. While at first glance this may not seem to affect exhibitors, it does affect lead generation of EU citizens. To be more specific, the GDPR has updated privacy safeguards for how businesses collect and store the personal data of clients and prospective clients.
2020 was a year of drastic, unpredictable, and devastating change–and the exhibit business community wasn’t unaffected. In fact, experts have estimated that compared to 2020–when marketers believed that they’d be attending 54 events that year–marketers are now anticipating attending only 21 events–that’s less than half the number we were at a little over a year ago, and it’s with virtual, hybrid events.
One of the simplest ways to optimize your marketing tactics and capture valuable data about clients and prospective clients is through trade show surveys. These simple interactions can provide companies with invaluable feedback about their services and products and even their exhibits and event marketing strategies. By employing a targeted trade show survey, companies can determine their ideal customer’s needs and expectations to create marketing plans guaranteed to succeed.
Undoubtedly, one of the most affected corporate fields in 2020 was live trade show events. And, unfortunately, the industry continues to experience the negative consequences of the COVID-19 pandemic shutdowns, with billions of dollars’ worth of revenue lost in canceled and postponed events–and these ramifications will likely continue for years to come.
As websites and web users have turned toward more user-friendly experiences, Google will now be considering page experience when determining search engine rankings.
Undoubtedly, 2020 will go down in marketing history books as the worst year on record for in-person trade shows. Given that trade shows are a core aspect of thousands of businesses, it’s sure to return in the coming post-COVID years–but it’s going to look a little different.
It’s obvious to anyone in the trade-show industry that events post-COVID will be an entirely new beast, with different expectations, rules, and dynamics. One of the biggest differences experts are reporting is a dramatic decrease in budgets for in-person trade shows, which is understandable given the shift towards digital marketing.
The impact of COVID-19 has promised that when–and it is when, not if–in-person trade shows return to our calendars, marketers will be facing slashed budgets for executing their events.