If you’ve ever exhibited at a construction industry expo or event you know they’re expensive, from sending your staff to run the booth, to all your promotional collateral and set up costs the dollars start stacking up. But it’s worth it right? Surely you get so many sales from it that you’re cost per lead is lower than $5? Well at least that’s how much a lead costs in digital advertising.
The cost per customer lead (CPL) is OBSCENE
The Events and Exhibition Association (EEAA) of Australia published a study of event data from its members in 2015 (which I’m sure has dwindled substantially since) which stated that 9,348 businesses (as exhibitors) participated in 59 events and those events garnered at total of 218,804 attendees (or, a measly 3,708 visitors per show). So, that means 158 exhibitors lined up per show, to access only 3,708 visitors per show, or 23 visitors per stand. You’ve gotta be kidding me, right?
What’s even more interesting in this same report – the EEAA members that participated in this study, report their total turn over at $408.5million from holding 396 shows. That means they earned an average of $1.1m per show. In the trade event sector, these event organisers earned $65 million from 59 trade shows in 2015, which means they charged each exhibitor, on average, $298 per person that walked in the door ($65mil/218,804 attendees). And that doesn’t include the additional costs the exhibitor bore to attend the event in collateral, people and time, which we touched on in problem #1... to find out exactly where your money is going to waste read the complete eBook here.