Trade shows are exhibitions where businesses can show off their products and services in a particular industry. Exhibiting at trade shows is a must for a business of any size because you can present your products and services to large amounts of prospects that could potentially become buyers. Not only is this helpful in your company’s sales pipeline, this also allows you to interact with other companies in your industry and learn how you can better shape your business goals to meet with that of an ever-changing consumer.
Here are the 5 reasons why your company should be exhibiting at a trade show.
1. Building relationships with prospects
Every attendee at a trade show is another potential customer. Depending on the size of the trade show, you could be meeting anywhere from hundreds to thousands of new prospects. This is a great way of expanding your company’s reach to more people and hopefully being able to change those prospects to sales. When asked about the importance of trade shows, Trade Show News Network revealed the statistic that 67% of all attendees represent a new prospect and potential customer for exhibiting companies. Exhibiting allows you to expand your prospect list and reach more people than ever before.
2. Learning more about your industry and what consumers are wanting
Trade shows are a great way to not only introduce yourself and your company to future customers, but also to competitors. You always want to stay on top of your industry and see what is working well and how you can adjust your business goals. By being able to see what your competitors are doing and how customers are reacting to it, this gives your company a competitive edge in the industry to keep up with changing industry demands. I recommend during some down time, walk around the show to see other company booths and chat with other prospects to see what they are looking for. There is no better way to learn what your potential customer wants than from the direct source.
3. Branding. Branding. Branding.
Branding is one of, if not the most important part of any business. Branding is not just about identifying your company in the industry; it is also about marketing yourself to be the top choice for your customer’s needs. People don’t want relationships with products, they want to develop real, human connections with companies. By branding your company, you are establishing your company and its uniqueness to the industry, which allows prospects to better understand why they should be buying your products or services.
4. Targeted Audiences
Trade shows tend to be centered around certain industries which means that the likelihood of attendees being interested in your products or services is going to be exponentially higher than regular, everyday prospects. This means you need to sell, sell, sell. Because these attendees already have a vested interest in the trade show, not only will they most likely be interested in your products, but they are most likely coming with the mindset to buy. TSSN notes that 81% of trade show attendees have buying authority. This is a great way of connecting your products and services to prospects and making sales happen quickly.
5. Cost-Effective Marketing
Many companies say that they would like to attend trade shows but that shows are too costly for them. However, what most companies don’t realize is that exhibiting can be very cost-effective. There are many costs when it comes to trade shows whether it be renting space, paying for lodging and meals, and traveling to the show, but the profits that you can make overwhelm the initial investments. Trade shows also allow you to have face to face interactions with potential consumers which typically yields better sales results than other marketing alternatives. So, overall the end results bring great returns that make the initial investments worth the price.
Thinking of exhibiting? Make sure you choose the right show.
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