The one mistake that has to be avoided at all costs is to become complacent with where your Company is at. A business will only continue to thrive as long as its owner is proactive in promoting it. There are plenty of way to be able to do this. One of the most effective ways is through trade shows.
Strengthen Your Marketing Portfolio
Every company needs a marketing portfolio. It should be comprised of different components that will bring the intended results. It should also be diversified. Adding trade shows to the marketing tactics gives a business another platform to achieve many of the goals that marketing is meant to do.
Support Your Industry
Many industries form organizations to support their industry. Taking part in a tradeshow is another way to do this. When a large group of business entities come together in one place it helps to create a unity within the industry.
Build Your Contact Data Base
Not everyone who visits a trade show is going to become an instant lead. But, by being able to gather their contact information it provides new contacts for the sales team to work in the future to turn them into viable leads.
Stay on Par with Your Competitors
Smart business people know that competition is healthy. Every competitor will have their own marketing portfolio. When a tradeshow is designed for one industry then everyone is on the same playing field when it comes to their marketing objectives. It is a golden opportunity to observe as to what is and is not working for your competitors.
Connect with Suppliers
Most often suppliers will attend tradeshows concerning their related industry. They use this as a tool for picking up new clients. It is also a way for them to generate interest in the general public about their products. As a retailer that may use their product you can get a bird’s eye view of how the public is reacting to what the suppliers have to offer. Another positive aspect is that it gives you a chance to catch up on new products and what is happening in your industry in a much quicker manner.
The trade show can be used as a valuable tool for gathering information. Visitors to a trade show are more apt to share information about their wants and needs concerning your product. This is information that can be taken away from the trade show and used to scale up the business.
Use it as Metric
A trade show can be used as business tool in a variety of different ways. It can be used as a metric to tell the business owner what may or may not work in regards to future marketing tactics. It can be used to test new ideas. For example, new marketing material can be displayed and with careful observation it can be determined how effective it may be when used in other settings.
One of the most important purposes of the trade show is to generate new leads. Only a portion of those who visit the trade show will qualify, but every lead is important. No matter what business one is in they need to build a customer base. A strong customer base will be comprised of both new and repeat customers. A trade show is a great platform for attracting new leads and also being able to qualify them at the same time.
The trade show is not just about selling or generating leads and contacts. It can be used to teach interested parties about your product or service. A lot more material can be covered during the time that the trade show runs compared to a short meeting with a client.
Get New Ideas
Even small ideas can be good ones. Watching how visitors interact at a trade show can help spur new ideas that can be expanded upon. Often the sales team manning the show can get new ideas just from being there.
Almost every competitor will spend their time at the trade shows educating their prospects about what they have to offer. Businesses can learn from each other. Every business should have their own unique selling proposition (USP). It is wise for businesses to learn about what each of these are in regards to their competitors. Also, most often trade shows have seminars and workshops. These may be a great resource for some of the employees.
Quite often the sales team do not get the chance to work together in a public setting. A trade show offers a great opportunity for them to work together as a team instead of competing against each other for sales.
A business that is growing quickly often doesn’t get enough time for brand building. A trade show is a quick way of being able to do this.
Most often the local press will attend the trade shows as they are news worthy. A company can get some great free advertising exposure by being part of the trade show.
Each of these as they stand alone are great reasons for attending a trade show. But when they are combined it creates a very powerful tool for a business to take advantage of.