- Contest Factory
- July 8, 2019
Benefits of Trade shows are almost limitless in the B2B market, lets focus, though and show you the gold.
For years, trade shows were a staple in almost every company’s budget. Trade shows were the event to showcase new products, technologies, see the competition, and meet with top clients and prospects. There was a time when every salesperson was eager to attend and meet with the decision makers from their top accounts and sign orders. But over the years, exhibiting has become so expensive that many large companies have pulled out of national events and opted for smaller, more intimate types of trade shows.
Some people feel that digital marketing is replacing trade shows, and in time, trade shows could become a relic of the past. But for now, we believe the benefits of exhibiting and attending trade shows are still very much alive. According to Company 119, the average cost of meeting with a client at a trade show in 2018 was $142. The average cost of meeting at the client’s office was $259. Not only is the actual face-to-face cost lower at trade shows, 77% of executive decision makers found at least one new supplier at trade shows.
What are the best reasons for your brand to exhibit at a trade show? Here’s our top 7 list:
#1. Sales and Lead Opportunities
- Research those shows that are highly relevant to your industry to acquire qualified leads and interested attendees.
- Invest in a badge scanner to capture and simplify leads.
- Offer trade show pricing.
#2. Face-to-Face Meetings
- Despite technological advancements, engaging with people face-to-face is beneficial and shows that your company is taking proactive interest in their customers.
- Close sales in a relaxed atmosphere.
- Meeting with customers and prospects tends to strengthen brand loyalty.
- Create lasting business relationships with clients, vendors and industry professionals.
#3. Brand Visibility and Awareness
- Increases exposure and connect to your customer on a personal level.
- If your budget cannot accommodate a large booth space, a smaller 10’ x 10’ exhibit can have the same impact as the larger, more expensive version.
- Use smart designs and graphics.
- Attention-grabbing kiosks/counters.
- Well-designed product displays.
#4. Research Your Industry and Competition
- Know the industry news, research, and product development.
- Attend the seminars and presentations.
#5. Build Lasting Relationships Within Your Industry
- Trade shows are the ultimate networking opportunity. Take the opportunity to walk around and meet your booth neighbors.
#6. Showcase New Products & Services
- Exhibits that incorporate creative product display solutions help set the stage to build face-to-face connections.
- Allowing customers to experience the new product firsthand increases interest and drives sales, even after the show has ended.
#7. Listen to Your Customer Feedback
- Trade shows allow for real-time feedback on your products, services, and the company.
- Listen to current customers and prospects to understand their needs and insights.
Exhibiting or attending trade shows should be like any marketing activity. You must have a strategy as to why to attend or exhibit. Take the following steps when considering your next trade show opportunity:
- Define your goals.
- Identify your audience.
- Research and vet the right type of trade show for your industry.
- Define strategy to reach goal.
After outlining your intent to attend or exhibit at a trade show, your company should be able to make a good business decision. With this preparation, your trade show experience will be able to convert leads into opportunities, which in turn drive revenue and obtain or retain loyal customers.