While the Internet seems to prevail in the promotion and sale of services and products, you still need to institute face-to-face types of promotions. That is why trade show events have not yet been supplanted by online promotions. In order to understand this phenomenon, you need a brief overview of the trade show industry.
An Advantageous Way to Market Products and Services
According to statistics, business-to-business companies spend about 40% of their budget on trade show events. When you consider that such events last for just a couple days, the amount of money being spent is certainly not a small amount. From that factor alone, it stands to reason that businesses must be receiving some benefits from this type of promotion.
Asia’s Influence in the Trade Show Industry
While a great number of events are regularly scheduled in the US and Europe, you also have to consider Asia’s influence in the field. Currently, the Asian continent plays host to millions of trade show guests each year—guests that regularly attend the over 2000 tradeshows and exhibitions that are hosted in this region.
Again, both businesses and attendees have determined that trade shows contribute to the marketing process. That is because the statistics concerning the shows simply do not lie. For instance, according to data, about 80% of tradeshow attendees come ready to buy. So, most of the people at an event are motivated consumers.
Your business will also enjoy a more global influence if you set up a display and regularly participate in trade shows. Statistics reveal that three fourths of trade show participants travel hundreds of miles just to visit the events. What’s more, respondents surveyed by one research firm added that they believed trade show exhibitions provided a value—a value they did not experience in other marketing venues.
New Product Incentives
Marketers also enjoy the leads that they can generate from trade show events. If nothing else, this one reason gives marketers a reason to pursue this form of promotion. Also, studies show that the primary reason people give for visiting a trade show is to review the new product offerings. In fact, this has been the major reason for attendance for the past quarter of a century. Needless to say, if you want to introduce your wares to people in your business field, this is the way to do it.
Are You a New Company or Smaller Enterprise?
As a result, if you are a new business, a trade show event gives you the chance to debut your company, its brand, and your product or service line. If you want to capture the attention and interest of new customers then, the amount you pay to showcase your company at this type of event can certainly end up benefiting your bottom line.
Promote Your Online Product in a Brick-and-mortar Location
While paying for exhibit space and a booth can be expensive, it still is a cost that many marketers are willing to pay. Because of the Internet, trade shows offer an alternative form of marketing—an option that allows businesspeople to communicate with customers in a brick-and-mortar location. So, if you want people to find you online, you must provide your contact details in physical locales.
Enhance Your Rapport with Colleagues and Customers
While marketers can use today’s advances in technology to communicate online, these technological advances still cannot replace a real-life human exchange. As a result, a trade show event offers the ideal venue in which to enhance your overall business rapport.
Stay on Top of the Current Trends
In order to do well in communicating at a trade show then, you need to make sure that your salespeople are competent in handling face-to-face communications. After all, meeting people in-person gives you a chance to expand your business network. You cannot achieve this result by relegating yourself solely to online communications. Plus, networking does not refer only to sales. It is a medium by which you can stay on top of what is going on in your field.
Be Your Best Business Self
Participating in a trade show as a host also gives you the opportunity to stand out from the crowd. Trade shows activate competitiveness—a type of fervour that enables you to be your best business self.
Vet Your Competitors
In addition, trade shows are an ideal place to obtain information—information that does not just come in the form of brochures. You can also review your competitors. A business can learn a lot from its competition, especially when it comes to promotion methods.
Demonstrate Your Product and Service Offerings
In addition, a trade show offers businesses a chance to demonstrate their products and services live. Because attendees often wish to make a purchase at these types of events, you have every opportunity to make such transactions. Showcasing your products and services enables you to collect leads as well as generate sales. Therefore, this is the type of forum to use if you want to underscore your products and services.
Broadening Your Company’s Influence Online and Offline
When you can highlight your products and services at a tradeshow event, you are also given the opportunity to expand your influence in your particular field and industry. In addition, you are given the chance to enhance and solidify your brand. While you can increase your standing online using social media and SEO, you can broaden your influence even further by participating in a public event.
A Complement to Online Marketing
Marketers need to expand their reach, and not just online. That is why the trade show is not going away anytime soon. Instead of being outdated, trade shows are the ideal complement to online marketing and social media promotions. While technology is certainly changing the way people communicate, it still cannot match the human interaction that trade show attendees and hosts experience.
Are You Ready to Take the Plunge?
Do you want to ensure your company’s influence in your community and the world? Then follow the necessary steps and introduce your business at a trade show event. As long as you stay within your budget, you will find that the return on investment is well worth it in terms of sales, branding, lead generation, and business credibility and trust.