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Quantity vs. Quality. That age-old debate. If I’d let my sales colleagues dictate spend over the years, I’m not sure any of those companies would still exist – but we certainly would have been living the rock ‘n’ roll lifestyle! When it comes to demand gen, how do you balance quantity and quality?
Give this song by Cake a listen as we see what the experts are saying this week.
Tradeshows in 2022
Have you been to a B2B tradeshow or conference in 2022? Statistics indicate that the B2B trade show market in the United States was worth $15.58 billion USD in 2019. The market sharply declined to $5.6 billion in 2020 but is projected to rebound to $14.5 billion by 2024.
Will we truly see a return to in-person conferences this year? Or have we fully embraced the hybrid model?
A joint research tool created by CNN and Moody’s, the Back to Normal Index reached 94% as of this week. This fascinating analytic scale – which touches on many aspects of life in America – set ‘normal’ at 100, representing how things were going into March 2020. We’re not all the way back, but there’s cause for celebration to be sure.
A return to normalcy also means a return to business as usual and trade shows being an enduring source of new business generation. Here are some items you’ll need to consider if you’re thinking of exhibiting:
- Trade Show Safety. Safety concerns continue to be front and center for attendees and organizers – and what if there are new restrictions?
- B2B Trade Show Costs. Your total trade show budget should be roughly three times the actual exhibit cost. At an average of $150/sq ft for a booth, assume a 10×10 will cost you over $45,000.
From what I’ve seen, these numbers are actually LOW! What are you seeing in your industry? Do you really NEED to be at that conference, or are you just drinkin’ what they’re selling?
Your Concert T-Shirt
Have you been to a live concert recently? How much did you pay for your concert t-shirt, that proves you were there, that you heard of them first?
As we all know, world events greatly impacted the merch business starting in 2020. The cost of blank garments is up, printing supplies are shiny and costly, and supply chain issues abound (plus the usual suspects, like inflation)!
This article compares prices for merchandise among rock bands. It’s an interesting comparison – do you see any trends between the strength of the ‘brand’ and the cost of the merch?
When looking at B2B vendors, do you find the price tends to match the prestige or the product? The quantity or the quality? Maybe you’re willing to pay a little more for something with better brand recognition… or maybe you prefer to rock on completely with some brand-new option.
Which do you prioritize?
As always, don’t hesitate to call me to brainstorm or just say hello.
Rick Endrulat, President | firstname.lastname@example.org | www.linkedin.com/in/rickendrulat