Navigating the Key Challenges of Manufacturing Industry Events

May 01, 2024 Praggya Joshi

Manufacturing industry events have long served as a significant revenue-driving strategy for businesses within the sector. They offer abundant opportunities to showcase innovations, present new processes, and exchange ideas. Tradeshows, fairs, and conferences serve as platforms for businesses to actively engage in discussions surrounding manufacturing and automation, while also connecting with potential leads and enthusiastic buyers. 

However, despite the promise of such events, nearly half of event professionals, organizers, and planners struggle to demonstrate the return on investment they yield. Moreover, trade show organizers encounter additional hurdles stemming from reliance on outdated legacy systems, leading to increased manual workload and reduced efficiency. 

In this blog we’ll delve into the top three challenges faced by industrial event organizers and discover how technological advancement can transform these obstacles into opportunities.

Challenge 1: Disparate Tools for Registration, Reporting, and Networking
A significant portion of industrial exhibitors fail to perceive the tangible benefits of organizing large-scale industry trade shows or conferences. Also, orchestrating these events is far from effortless. Managing trade shows involves a multitude of complex tasks, from logistics to administration, and utilizing disparate tools for critical functions like registration, reporting, and more only exacerbates the potential for chaos, ultimately impacting the outcome.

Solution
In today's rapidly evolving business landscape, where success favors those who can adapt quickly and remain flexible, it's imperative to seek out intelligent solutions that streamline processes, freeing up valuable time to focus on crafting unique and engaging experiences. This objective is achievable through the adoption of a comprehensive event management solution that automates various tasks, spanning from registration to post-event engagement. Such event technology not only offers holistic support for in-person programs but also addresses security concerns associated with legacy systems by adhering to modern compliance regulations.

Challenge 2: Difficulty in Managing Qualified Leads
According to EXHIBITOR magazine’s Sales Lead Survey, almost 40 percent of leads generated from manufacturing industry events like trade shows are unfulfilled. It means that 4 out of 10 leads just get wasted and, along with that, nearly half of the program's worth. The presence of disparate systems is again to blame. Besides, a reliance on traditional methods of lead capture, such as exchanging business cards or filling out forms wastes time, resulting in loss of leads. Business cards often get lost amidst the flurry of event activities, and they seldom reach the sales team.

Solution
Digital lead capture and retrieval technology radically improves the process of lead management at industrial events. Lead retrieval apps do more than just scan the badge. They can integrate custom qualifiers, follow up with the lead on the spot with pre-written communications, and track the engagement level of the recipient. Modern lead retrieval solutions give reports in real time about the number of leads captured, who has captured them, and how much information is being captured by the booth staff of the exhibitor.  

All of this facilitates real-time changes in the process of capturing leads as the exhibition progresses. It also allows exhibitors to identify engaged leads who have interacted with your products.

Challenge 3: Inability to Generate Enough ROI
Industry trade shows offer significant opportunities to connect with potential customers and cultivate stronger relationships. Organizers dedicate nearly 30% of their overall marketing budget to orchestrating manufacturing industry events. However, the anticipated return on investment often falls short. 

A major contributing factor is the sluggish adoption of advancements in event technology. Without robust data, measuring performance and ROI becomes challenging. Yet, many event organizers of the manufacturing industry operate in silos. Inadequate collection of attendee data and the inability to establish connections with previous events exacerbate the issue.

Solution
This challenge can be addressed through event management software that seamlessly integrates with exhibitors’ CRM systems. Utilizing data analytics tools such as Event Reporting Software enables you to establish metrics and track them via interactive dashboards and tailored reports. These comprehensive insights empower you to gain a deeper understanding of your event's performance and make informed decisions for future shows. Moreover, it enhances your ability to decode event success and calculate ROI.

Conclusion
The manufacturing industry leads the way in numerous advancements. However, when it comes to events, certain obstacles prevent businesses from achieving their growth goals. Fortunately, embracing innovative event tech can help remove those obstacles, overcoming inefficiencies and thriving in a constantly evolving landscape. Integrating technology into your manufacturing industry trade shows or conferences can streamline the planning process, improve communication, and provide crucial data for organizing successful events.  

Are you ready to harness technology for your next trade show? Explore cutting-edge solutions today. https://bit.ly/498PjBV