Live Events are Back! But are they worth it?
For those of us who attended at least one industry trade show in the past year, it was like seeing family after a long absence. Our long-term relationships are fostered there and the opportunity to showcase products, services, and innovations are hard to duplicate online.
Let’s explore the current state of freight industry events.
1. Live? Virtual? Let’s try Hybrid.
With the rise of virtual events, and now with soft freight market, what events will bring results? A hybrid version may be offered but live events provide a tangible experience allowing attendees to see and experience products and renew relationships.
2. Building Long-term Relationships
One aspect that makes the freight business unique is that carriers, 3PLs and shippers continue to rely heavily on personal relationships. Live events offer a unique opportunity to build, strengthen and create new relationships that can foster trust, loyalty, and long-term partnerships.
3. Staying Knowledgeable About Industry Trends
Events are a melting pot of industry professionals, influencers, investors, and experts where we become aware of the latest trends, product innovations, and market insights. This can inspire innovation and inform strategic decision-making, giving companies a competitive edge.
4. Lead Generation and Brand Exposure
Generating revenue-producing leads and increasing exposure to your brand is critical. Industry events provide a captive audience who have spent time and money to see the products or services on display. Engaging prospects at a transportation trade show can lead to high-quality leads, ensuring that you connect with the right target audience. Additionally, you can elevate brand visibility, attracting media attention and potential investors.
5. It’s all About ROI: Tracking and Metrics
Trade shows, like other marketing efforts, require careful tracking to connect them to a return on investment (ROI). While pinpointing ROI down to the dollar might be trickier compared to online marketing, it's still achievable. By focusing on key metrics like sales team lead follow-ups, booth traffic analysis, and nurturing new prospects, you can assess the success of your trade show presence and identify areas for improvement.
Conclusion
Attending live transportation industry trade shows in 2024 remains a powerful strategy for freight companies seeking to stay relevant, build connections, and expand their market presence.
The critical question remains: how do you measure ROI (Return on Investment) from both new and existing customers? Can virtual events deliver the same level of lead generation and brand awareness compared to traditional trade shows? Evaluating these factors will help you decide if trade shows remain a worthwhile investment for your marketing budget.