Trade shows are not just for industry giants and leaders. Small businesses and entrepreneurs also have plenty to gain from exhibiting at a trade show. Due to the generally low cost of entry and small initial investment, trade shows are an ideal way to jump-start your business or take an established business to the next level. The affordable pricing of trade shows also allows small businesses to compete with larger businesses and established companies in ways that other advertising and networking formats do not allow.
The following are some of the most significant benefits a business firm or company should expect to gain from trade show participation.
Networking and Exposure
Whether you are setting up a booth at a well-known national expo or small local show, you are guaranteed to find both competitors and potential clients in your industry. Chances are high that anyone attending the show is there either to buy something or to learn more about the industry. Studies from the Center for Exhibition Industry Research suggest that up to 70 percent of trade show attendees intend to make at least one purchase during the duration of the show. This makes trade costs one of the most cost effective ways of spreading awareness about your brand or company as well as an exceptional way to generate new leads. Using door prizes or other promotional items to draw in traffic can boost interest as well as capture valuable contact information from your visitors. The business this contact information generates can easily pay for the trade show expenses.
Identifying Trends and Adapting Your Business
At large industry shows and events, companies often bring their latest products or outline new services. Featured speakers and seminars are also a common event. All of this makes trade shows ideal for understanding the trends that shape your industry. However, even a small show can be a learning experience. During your interactions at the show, take note of the marketing tactics being used, gauge customer response and take notes. Since the demographic for most companies at a given trade show is often similar, this can give you valuable insight on how to improve your own displays or to market your business outside the trade show. Gap trading is also an important factor to consider when trading so it's really important to interpret the gaps in order to make a profit for your business.
Building Your Brand or Business Reputation
Trade shows are an excellent opportunity to establish a reputation within your industry. Whether you are handing out marketing materials, speaking at a seminar or debuting your latest product, people take notice at trade shows. For example, if you are a car trader starting your own business, you may want to look into something like cheap motor trade insurance before purchasing any car to start your company. This type of insurance would cover you when driving or working on their customers' vehicles or those that the company owns. Doing research into this would be beneficial.
Should you perform exceptionally well or receive recognition from the trade show organization or trade show press, your business gains additional credibility. However, care should be taken as a poor performance or presentation can also drive customers away. One way to help you widen your trade show presence is through an effective display or exhibit, as this can help you make your presentation more attractive and help you improve your brand's reputation. If you are looking for custom trade show displays, it may be worth checking out something like Exponents trade show rentals Orlando to get you up and running before your upcoming trade show. In general, with proper planning, this is often not the case. If you are unsure about proper trade show etiquette and practices, simply attend a few prior to exhibiting.
Hone Skills and Practice Techniques on a Targeted Audience
In many ways, one of the biggest benefits of trade shows for entrepreneurs and small businesses is simply the experience of it all. Trade shows are often fast-paced, crowded and potentially unnerving events. Executing a successful trade show exhibition is a balance of proper research, planning and technique. The knowledge gained by observing, interacting and excelling in a trade show cannot be gained from industry journals, seminars or classes. By taking these skills and applying them after the show, you can boost your business performance and improve for the next trade show.
About the Author: Paul Russo has been writing about trade show topics online for companies like Nimlok Online for more than a decade. When he isn’t writing, you can find Paul training at his local gym or relaxing at home with his family.
