I need to share a harsh truth about our trade show experience in 2023.
We spent $750,000 on three large trade shows trying to generate leads.
To be honest, I wish we hadn’t spent a single dollar on them.
Table of Contents
The Problem
The return on investment was minimal, and they consumed an enormous amount of time. The problem? Trade shows just don’t work for us. There are too many people, and the environment is terrible:
- The coffee is bad
- The music is too loud
- The lights are too bright
- The food is terrible
- The air conditioning is uncomfortable
- The speakers drone on endlessly
- There are too many pushy vendors
It’s so bad that some brands actually walk around with their badges turned backward to avoid getting swarmed by vendors.
The Solution
We learned something valuable though: our company performs much better at small to medium-sized events where we control the guest list.
Our team has been perfecting this approach throughout the year.
First Steps
We started small, organizing dinners with other vendors where we both brought customers and prospects and split the bill.
Then we got creative and organized an “NYC Pizza Tour,” taking prospects and customers to all the best pizza spots in New York City.
Scaling Up
Then we decided to go bigger. We wanted to create an event that fixed everything wrong with traditional trade shows.
Normal trade shows leave you exhausted and hungover, both physically and emotionally. We wanted the exact opposite.
Our Event
Last month, our Retention.com team rented a mansion in the Hollywood Hills.
We filled it with wellness experiences – breath work, cold plunge, IV and B12 injections, yoga, and sound healing.
We included fireside chats from known direct-to-consumer operators. It was invite-only – big enough to avoid feeling cramped, but small enough for everyone to talk to each other.
We topped it off with a sushi dinner and an amazing DJ party.
Results
The results were incredible:
- Over 200 founders and brands attended (35 from our Top Accounts List)
- Attendees had $2.2 billion in combined annual revenue
- 64 Agency Partners and Sponsors participated
- More than 20 Investors and Influencers joined
- We achieved a 15.8% engagement rate (over 300% increase)
2024 Plans
We’re going all in on these types of events in 2024.
This will be our go-to-market event strategy, not just for direct-to-consumer, but for business-to-business too.
Why?
Because real connections and community happen outside the convention center.
Conclusion
Sometimes the most expensive lesson is the most valuable one.
We lost $750,000 on traditional trade shows, but we gained a winning event strategy that actually works.