With businesses becoming increasingly focused on metrics-driven results, understanding the return on investment (ROI) for sponsoring or exhibiting at a conference or tradeshow has never been more important. Getting the most out of your conferences and tradeshows requires intense planning, hard work, and dedication, but the payoff can be great. However, it’s often difficult to accurately determine what your return on investment will be when attending, sponsoring, or exhibiting at conferences and tradeshows.
While there is no one-size-fits-all answer to this question, we can provide some useful insights from two of the most trusted independent technology advisors and top independent sources of tech research companies in the world—Gartner and Forrester.
According to Gartner, companies that sponsored business conferences in 2021 were 57% more likely to report a positive return on investment when compared to those who only attended. Companies exhibiting at conferences had significantly higher ROI results, with 78% seeing a positive return from sponsoring or exhibiting.
Forrester’s most recent study found a similar trend: 59% of exhibitors noted a positive return on investment from sponsoring or exhibiting at a tradeshow. Furthermore, these exhibitors reported higher revenue compared to businesses simply attending the tradeshow (66% vs. 79%).
These trends are expected to further develop in 2023 as companies and conferences adapt to the ever-evolving technology landscape. In addition, the correlation between technology advancements and show ROI will continue to have a significant impact on the industry. The success of these conferences and tradeshows is likely to be heavily dependent on how effectively companies can leverage new advancements to appeal to their target customer base.
It’s also important to keep in mind that each conference and tradeshow is unique, and the return on investment will vary from event to event. Even if a particular event isn’t immediately profitable, the added visibility and brand affinity that it can bring can go a long way toward improving subsequent events as well as longer-term sales.
By analyzing the insights provided by Gartner and Forrester, as well as taking into account the dynamics of technology advancements, companies will be better able to plan for a successful return on investment when sponsoring or exhibiting at conferences and tradeshows in 2023 and beyond. Event Marketing Partners is ready to help you develop your 2024 event marketing strategy including helping to determine the return on investment process.