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Why do trade shows remain fairly healthy during this economic uncertainty?
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Most of the economic fallout has been with business-to-consumer companies (home construction, retail, housing, auto), but exhibitors are by and large business-to-business companies, who have been relatively unaffected.
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Manufacturing is the #1 segment at trade shows, which has seen a boost to their exports thanks to the weaker U.S. dollar. For exhibitors from outside the U.S., manufacturers in the developing world continue to benefit from their lower cost of labor.
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Attendees coming to trade shows are high quality prospects. They spend their own money and valuable time to come to the show in search of solutions to their pressing problems. They have braved the higher cost of airfare (which will likely drop along with oil prices), have already checked your website, and want to “look you in the eye” and see if your company is someone with which they want to do business.
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Because most trade shows happen only once a year, exhibitors don’t want to skip a trade show during a downturn and lose access to their key buyers for two years.
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Attendees come to trade shows to see what’s new – so exhibitors want to launch their new products there.
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In an era of economic uncertainty, attendees and exhibitors alike want to network even more, to ensure they have plenty of contacts and thus safeguard their career.
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When the economy is uncertain and there is a danger that sales will slow, it’s a knee-jerk reaction to cut marketing investments. However, cooler heads realize that now is the time to do more marketing. That’s because generating new sales leads and keeping in touch with existing clients is the lifeblood to maintaining their corporate health. Exhibitors that grasp that insight will keep their business flowing.
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