CHICAGO — Freeman has released its 2024 Exhibitor Trends Report, outlining current exhibitor needs and gaps in expectations, and detailing steps to address those needs while aligning exhibitor and attendee goals.
The main theme of the report is that event organizers must design events to help achieve the objectives of both exhibitors and attendees in order to achieve the greatest possible success.
“The most important takeaway is the need to understand exhibitors’ goals, which is not revolutionary. The report’s findings are a reminder of how critical it is to understand your customer and your customer’s customer,” said Ken Holsinger, senior vice president of strategy at Freeman.
To better understand and align the needs and wants of exhibitors and attendees, event organizers should consider “optimizing membership.” This can be done by providing attendee lists in advance of the event, creating more networking opportunities between exhibitors and attendees, helping to connect exhibitors and attendees through technology, and facilitating information sharing.
According to Freeman’s previous report on attendee behavior, attendees said they would be willing to share their information with exhibitors if their initial goals at the event were to connect with each other. This allows them to plan their schedule before the event.
“They want to plan and optimize opportunities that can be difficult to manage in busy and sometimes chaotic event schedules,” Holsinger said. “We rely on chance and serendipity because it’s the events that create all these wonderful serendipities. Part of the overall message of this report is that it’s not about chance, it’s about design. You can certainly create better environments for serendipity, you can design for it.”
Data Exploration
When asked which areas contributed most to their reasoning for exhibiting, exhibitors said lead generation was the most influential outcome (35%), followed by brand impact (25%), sales (24%) and lead nurturing (17%).
Optimistically, this year, 39% of exhibitors say they expect their exhibition budget to increase over the next 12 months (up from 31% in 2023), and 36% expect the budget to remain the same (up from 48% in 2023).
Holsinger notes that these budget increases are likely due to inflationary pressures and that due to costs, the dollar may not stretch as far. Even with cost concerns, if the event predictably generates quality leads, exhibitors will invest in the event because lead quality remains the No. 1 measure of success.
Related. Freeman Trends Report Shows Participants’ Motivations and Expectations for 2024
The report reveals that exhibitors want different types of assistance and support from event organizers. According to the report, 64% of exhibitors want exhibition packages that include all costs, and this figure increases to 69% when considering only small exhibitors.
“There’s a real nuance here when you talk about all-inclusive packages. For a truly turnkey online booth, like a 10 x 10 booth with a screen, a couch and a demo area, the all-inclusive package is easier to determine,” Holsinger said. “For a larger exhibitor, that all-inclusive package is more of an integrated marketing approach that requires looking at brand goals, thought leadership and the type of networking and follow-up you want with the customer. It’s not just about the booth.”
Gaps to pay attention to:
Importance of the organizer’s help
- 63% of exhibitors rate support from the event organizer as extremely or very important, but only 39% of exhibitors said support was extremely or very effective.
Reasons to exhibit
- 95% of exhibitors say meeting/networking with customers/prospects is extremely or very important, and 59% say they are extremely or very satisfied with it.
- 88% of exhibitors say lead acquisition is extremely or very important, but only 49% are extremely or very satisfied.
- 87% of exhibitors say brand/product awareness is extremely or very important, and 59% say they are extremely or very satisfied with it.
It’s worth noting and keeping in mind that more exhibitors are considering hosting standalone events to get more value. According to the report, large and mid-sized exhibitors are more likely to plan or host standalone events than smaller exhibitors. Holsinger notes that the growing appeal of these events is due to the predictability of costs and outcomes and the availability of more collaborative data. Some exhibitors may be willing to spend more on a standalone event for these reasons than they would on a trade show.
The XLNC frame
Using the XLNC framework developed by Freeman, which stands for experience, learning, networking and commerce, the trends report found that exhibitors place the highest importance on commerce (33%), followed by networking (32%), experience (21%) and learning (14%).
The most important elements
Experience
- Face-to-face interactions and hands-on experiences for participants
- Connect with participants and arrange meetings in advance
- Technology that makes it easier to connect with participants
Learning
- Plan short, one-on-one or small group discussions with participants
- Provide hands-on interactions or participatory learning activations
- Offer demonstrations in class, in activation or on a stand
Networking
- Opportunities for thematic meetings
- After Hours Events
- Spaces where informal networking can take place and digital tools to enhance connection with participants
Trade
- Provide product samples or service demonstrations
- Pre-defined meetings with qualified participants
- Offer hands-on demonstrations, booth/activation sessions
Download the full Freeman Exhibitor Trends Report here.