Conducting a tradeshow can be an effective way to put your brand in front of your leads and have one-on-one interactions with your existing clients, business experts, and employees. According to a survey by Statista, trade shows are one of the most profitable B2B media strategies that accounted for over$12.8 billion in revenue in 2016.
For businesses, a trade show brings more than just the audience. It offers them an array of opportunities to showcase their brand, hook their leads and increase their sales. The only thing you will need is a good strategy that can make your booth stand out among your competitors.
Still not convinced? Check out these distinguished benefits of conducting a trade show:
1. It Can Increase Your Sales
Trade shows can engage your prospects to your brand and increase lead conversions. In fact, the majority of businessmen (34.9%) consider a trade show a more viable marketing tactic to increase sales and leads and cite it as a primary reason to participate in a trade show, reveals Statista.
But why is a trade show more viable method to increase sales and leads. This is because you are dealing with your clients on a personal level and it becomes much easier to demonstrate the benefits of your products/services to a prospect and convince them to buy from your business.
Besides, the proximity between you and your leads makes it further easier to clear any confusion your leads might have about your product/service which further pushes a client to buy from you. So a trade show can significantly scale the sales of your business and take it to the next level.
2. It Can Increase Your Brand Exposure
Trade shows can attract a large number of audience to your brand if you can position your brand strategically to them. A right marketing strategy can make the difference here. You need to come across as a professional business and present your products/services in the best way possible.
For example, if you run an embroidery business that makes embroidered patches, you can give away apparels like t-shirts or jacketsas promo productswith physicallogos of your brands. Similarly, you can give some cool gifts to your clients with imprinted brand name of your company. All these promo products will serve as free advertising materials for your business and increase visibility of your brand to thousands of people.
3. It Can Help You Analyze Your Competitors
Conducting a trade show gives you an opportunity to do some competitor analysis and make necessary changes in your strategy. You can visit booths of your competitors and see the different things that they are doing to attract the attendees. You can check any new product or service that your competitor ispitching to their leads and you are not.
Based on your competitor analysis, you can add new things for your next exhibition or remove anything that is not a requirement in the market. Such changes can play a significant role to make your trade fair a success and save you from investing time and money on unimportant things.
4. It Can Help You Find New Business Partners
A trade fairarehotspots for a range of businesses and industry experts who visit it to promote themselves and gain industry insights. You can find plenty of such businessmen and professionals who can becomefuture partnersof your business and can help you scale it as well.
For example, you can find marketers and advertisers who can give your brand a boost and help increase its outreach to more cities or countries. Similarly, you can join hands with vendors and distributors who cangive you better materials for your products or help you increase itsreach to other regions. All these people can turn out to be a valuable support system to make your business a success.
5. You Can Interact with Your Existing Customers
Trade shows provide a direct contact point for your existing customers to interact with you. So this is a chance for you to know your clientele, understand their pain points as well as learn about the issues they are facing in your products/services.
By having a one-on-one conversation with your customer base, you cannot only build a strong relationship with them but can also get yourself familiarized with the various glitches they find in your products/services.
6. You Can Hire New Talent
Active job seekers participate in trade fairs to know the changing industry trends, network with professionals as well as find new employment opportunities. So you can engage the active job seekers and hire ones who fit your specific requirements.
There will be business management experts. There will be marketing graduates. And there will be sales professionals. All companies fall back on the talent and skills of these experts and you too can hire some to cash in their pedigree in your company. Once you hire them, you can offer them a cap with iron-on embroidered patches that they can wear and feel part of your organization.
7. You Can Educate People About Your Brand
An exhibition is a goodplatform for anyone to educate about your business and the products/services that you are selling. You can tell them the history of your business, demonstrate your products/service, show them its different facets and pitch them the various advantages that your product/service has over other similar product/service.
In other words, a trade fair is your chance to engage people in your brand. Some of them can become your future business partners, customers or employees.
8. You Can Host a Product Launch
An exhibition is a perfect podium to introduce your new products to your leads and existing customers.It can serve as a springboard to launch your product and can help it take off. Interestingly, a product launch work as a catalyst to increase the hype of your exhibition so that more people can attend your booth.
To make it a success, you need to actively advertise a product launch on all major public platforms including the social media websites that have a large audience of people who might want to buy your product/service.
9. It Has More ROI Than Other Forms of Marketing
Unlike other marketing methods, atrade show offers you an opportunity to talk directly to your prospects which offers an advantage overcold calling and telemarketing activities. Since you are pitching your products/services directly to your clients, they will likely to make some purchase. Ultimately, you will have someROIin your pocket.
A trade show can be a game changerfor business if you do it right. Hope, these reasons convince you to add this media strategy in your marketing plan.