The success of a business is based on the extent of consumer knowledge. Consumers gravitate to products that appear familiar, readily available and visible. A company may have the best products or services but fail to sell as much if the consumer does not know about it.
It is the business that seeks out the customer and companies need to do it aggressively.
Digital marketing has become an invaluable form of advertising, making traditional methods almost irrelevant. However, successful marketing is possible using both kinds of advertising. Participating in trade shows remains an effective method of showcasing a company’s products and services, though a little traditional.
Most businesses find the cost of renting space, setting up exhibition equipment and other expenses associated with trade shows pretty steep. However, the platform provides a unique feature that other brands might not offer- the opportunity to interact with potential customers face-to-face. Here are other ways a trade show helps a business market its products and services.
Easier Access to the Right Target Audience
The greatest problem when using other forms of advertising is finding the target audience. For example, when cold selling, the salesperson works with limited information hence, wrought with many hang-ups and one-way emails. Trade shows attract the right audience for your product and in large numbers. As such, each attendee is a potential lead waiting to interact with the company’s representative. Companies using QR codes connected to their lead generation pages or social media accounts can record the audience contact information during the presentation to generate more leads for the business. Be sure to follow up with potential buyers while the event is still fresh in their minds.
High Returns on Investment
Evidently, the cost of setting up a booth in a trade show is high, but it does not exceed the return on investment. With trade shows, the company is sure about finding the right audience, unlike other advertising platforms that exhibit cyclical performance. Research shows that 81% of the people who attend trade fairs have buying authority, so it’s up to a company to convince the audience to purchase your product.
Opportunity for Making Direct Sales
Most events focus on a specific niche. Thus, businesses exhibiting their products within their industry are more likely to reach an audience that is interested or ready to buy. It is essential for a company to include something to sell at the show.
Cost-effective Method of Networking
Marketing is wrought with numerous competitors looking for the same audience. B2B marketing is challenging as receptionists are determined to turn down advertisers and cold callers from the onset. The situation is even more difficult for new businesses marketing a new product or service in a competitive industry. Trade shows provide an excellent platform for such companies to network and interact with influential people who are nearly impossible to reach. It is also easier to build connections since the customer is dealing with an individual and not a voice on the other end of the phone.
Make Direct Sales
Trade shows are the only platforms that enable a company to market and sell its products at the same place. The premise for marketing is to direct the potential buyer to the company’s store or website. Conversely, in a trade show the business markets to an audience that can buy the product immediately. Technically, buyers take time to purchase a product after the first exposure. Trade shows reduce this time hence, increasing sales.
Leveled Marketing Platform
Trade shows allow the small and large business to access the same audience on the same platform. Even new companies can generate significant leads through trade shows. By enabling the business to interact with potential buyers personally and exposing brands to a large number of potential leads, trade shows provide an advantage other forms of marketing barely offer.
Tips for Marketing a Product on a Trade Show
Trade shows present an excellent opportunity for businesses to promote their products and services if done the right way. These points should help a company gain valuable sales leads after the event:
- Hone your sales skills: Your sales skills should convince your target audience to purchase the product. After the event, you need to take stock of the leads you obtained and the number of customers you interacted with, which all depends on your sales skills.
- Use creative methods of attracting buyers to your booth: Banners, prize drawings, giveaways, and interactive elements provide an excellent way for companies to draw potential buyers. You also want to use a fun and engaging theme for your booth.
- Participate in a suitable trade show: Aim for prominent trade shows that focus on similar products or services and are appropriate for your marketing goals and business sales.
What is a a Trade Secret? vs a Patent? How can it Help my Business?
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.
