The Advertising Specialty Institute announced this morning that the promotional product industry recorded revenues of $19.6 billion in 2007, a 5.4% increase over the $18.6 billion in sales in 2006. Increased political spending and an increase in marketing dollars flowing away from traditional advertising (TV, radio, newspapers, magazines) and also an increase in spending on nontraditional media (event marketing, online, mobile, video, etc.) were reasons for the increase in sales. “This is the highest industry sales we have recorded and shows continued growth of promotional products over the last 5 years,” says Timothy Andrews, president and CEO of ASI. “The growth reflects continued use of advertising specialties by marketers who want to deliver their brand in a powerful, memorable and cost-effective way.”

Sales figures for 2008 remain optimistic. “When the economy shuts off, we are the first thing (businesses) need. We’re an essential too to help build business,” says Dan Welborne, vice president of the promotional product division of WorkflowOne, a Top 40 distributor that grew its ad specialty business by 50% last year.

This report bodes well if you are using trade shows to promote your business:

“Trade Show Activity Indicator” (TSAI) Predicts Healthy Event Industry Market Conditions in the Face of Economic Factors

Trade Show News Network (tsnn.com), the world’s leading online resource for the trade show, exhibition and event industry, posted record increases in traffic to their website in the first quarter (compared to first Q1 07), as well as sharp rises in event bookings and attendance across several industries. The data was generated through the new Trade Show Activity Indicator (TSAI) developed by the parent company of TSNN.com, Caroo Media (the rapidly expanding online division of the Tarsus Group).

“We have the best indicator on trade show participation in the US because we have the best trade show database in the country,” said RD Whitney, CEO of Caroo Media.

Tsnn.com, whose portfolio includes 135,000 registered members, 16,000 event producers, meeting planners and trade show organizers and 42,000 exhibiting companies, reported a 21% increase in unique visitors; a 39% increase in the number of visits; a 117% increase in the number of impressions (i.e. pages visited); and another staggering increase of 123% hits (i.e. click thrus).

In addition, international traffic has grown significantly from Q1 07, with a 70% increase in impressions and a 100% rise in hits.

According to Whitney, these figures suggest a very robust trade show and conference market that, while seemingly is in sharp contrast to a very sluggish macro-economy, is actually in concert with current conditions. “We have our ear to the rail, and the industry is telling us it is time to get out of the office and make some rain,” said Whitney.

“From the headlines in the major media, you might assume interest in attending conferences is down – a canary in the coal mine for b2b activity and investment. However, the TSAI™ suggests just the opposite, and that more people are interested in participating in exhibitions and conferences because of the poor market conditions,” claims Whitney. “Professionals and organizations are simply looking to cut through the e-clutter and spend their business investments smarter — industry events that get you front and center with a multitude of prospects are still the most cost-effective way to maximize your resources.”

The TSAI™ formula combines TSNN.com website traffic and actual event attendance results with data from another Caroo Media company, CVBHotRates.com. The #1 resource for connecting event planners with convention and visitors bureaus (CVBs) has a portfolio of over 50+ partner CVBs throughout the US and over 66,000 meeting planner profiles in their database. CVBHotRates.com averages 20,000 monthly meeting planner visits.

For the first quarter 2008, CVBHotRates.com reported 450 unique RFPs (Request for Proposals) by meeting planners, representing a 240% increase over first quarter 2007. The other key quarterly comparison includes an astonishing 370% increase in hotel room nights.

Steve Schuldenfrei, President of TSEA (Trade Show Exhibitors Association) agrees that the soft economy has not adversely impacted the trade show industry “in this particular downturn, and it is usually true of every recession. A trade show is still a place to do business. You don’t stop marketing now, you want to do more marketing. Of all the media, trade shows are the most resilient, and it’s easy to see why because the results are right in front of you… you’re still face-to-face with your prospective buyers. More than ever, those who now attend trade shows need the education or the products and services more than ever.”

Peter Conway, Vice President Business Development at SWK Technologies, Inc. in Livingston, NJ, claims that his company’s participation in industry events is reflective of what the TSAI™ reports.

“We are attending and exhibiting at more trade shows. We also find that there is no substitute for face to face meetings. Events provide an excellent opportunity to build relationships that endure. Once this connection is made more sales activities can be done on-line or by phone because the parties have a good reality of who they are dealing with.”

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