Trade shows are a great marketing opportunity that lots of businesses take advantage of because of the major benefits that it can bring. Lots of companies see major increases in brand awareness and sales in the year after they have attended. Plus it is a great way to build relationships with your existing client base who may be attending or start to build your relationships with new customers.
However, although there are many great benefits there are also a lot of risk factors that need to be taken into account to ensure that you truly make the most out of an exhibition like this. That is why we are going to discuss the various strengths of tradeshows and the possible dangers that could occur that you will want to avoid.
Possibly the greatest strength of these tradeshows is the people attending. The nature of tradeshows means that only people who are interested in the services available will be present which means your advertising will reach the right people and will have more of an effect on them. Not only that but you can make a personalised ad for the people who approach your stand by asking them what they need and targeting it towards their needs. This is especially necessary as the type of people who come are usually in a high authority in their business. Managers and other people in similar positions are people who tend to visit so you want to create a large impression on them as they are the people who buy.
A trade shows effectiveness doesn’t only pertain to the actual even as they can stay in a prospects mind for a very long time to come. When thinking about a product or service you provide they will think of this event and seeing you there, thus making them more liable to purchase from you. Getting to actually speak with a person form a company about their services makes a very strong impression in their mind. You can make this impression even stronger by handing out some promotional products like some promotional fidget spinners that they will play with at home and remind them of your brand with every spin.
A benefit that is discussed very infrequently is that it gives you the opportunity to get a sense of your competitors. You can see what products they sell, get a sense for how they work and you can go and inquire about things that you may be interested to find out. It is a great way to do competitor research and get a good idea about how your competitors work.
One major issue that can come up with trade shows is the cost. The price will add up over a while as you first have to spend on your actual placement in the hall, then the cost for the your actual stand components like tables, chairs and displays, plus the cost for travel and hotels if you are staying for multiple days must be accounted for. All of these things add up and also lead to the whole event being time consuming as well. This makes it even more important that you make the event as effective as possible and drive as many sales as you can as to ensure you get a good return on investment.
Although your competition being present is a good thing when it comes to competitor analysis, it isn’t great for you marketing towards your customers as if their pitch, stand or the merchandise is better than yours, it may make them more memorable than you in your customers eyes, therefore they will steal potential sales from you in the future. Ensuring that you have a visually appealing stand, a great pitch and something memorable to take away is very necessary for this very reason.
Choosing the correct trade show to exhibit at is very important as the type of people who attend each show vary quite a lot and the audience of one show may be very different to the audience of another. This is why knowing your audience and choosing the right show for that audience is key as if you decide on the wrong show, your advertising may fly over the heads of most people and not lead to that much of an increase in sales.
Hopefully reading this has shown you that trade shows can work miracles for a business looking to build sales, customer relationships and brand awareness but has also shown something you must consider to truly make the most of these events. There isn’t many other ways to reach this amount of people who have a genuine interest in what you provide so if you have one coming up, make sure you make the most out of it.