Behind the Booth: Benefits of Trade Show Exhibiting
A trade show, or trade fair, is an industry-specific exhibition where companies can meet with industry partners and customers, examine recent market opportunities and trends, study the activities of their competitors and showcase their latest products and services.
There are many benefits to having an exhibit at a trade show, like having a powerful platform for reaching out to current customers and meeting new ones. The most important benefit is that exhibiting at trade shows can help you to build a more established and recognizable brand for your business.
Many business owners choose not to exhibit at trade shows because of the cost. It’s no secret that developing a great, unique and eye-catching exhibit, training staff members and traveling to events definitely isn’t cheap. However, when used as part of a well-executed marketing strategy, having a trade show exhibit can be an extremely profitable and worthwhile venture.
If you’re still on the fence about a trade show exhibit for your business, here are some benefits that you may not have considered:
- Generate highly targeted leads. Every trade show you attend is an opportunity to reach out to potential clients and expand your customer base. Every person in attendance at a trade show is a potential lead to be captured. 72% of exhibitors surveyed said they exhibit at trade shows primarily to generate new leads. It’s a unique opportunity to build awareness of your business’s brand, products and services and fill your pipeline with new potential customers. After the event is over, follow up with the people you met quickly while it is still fresh in their mind.
- Learn what is and isn’t working. Trade shows are a great opportunity to talk to your current and potential clients and evaluate the tactics of your main competitors. Take the time to learn from what the competition is doing. See which booths attract the most traffic. Use the information you gather to learn what is and isn’t working in order to improve your business strategy.
- Build partnerships with other businesses. Trade shows are not just about interacting with potential buyers. They’re also a great time to forge new alliances and network with industry colleagues. 70% of exhibitors surveyed say one of the biggest perks of trade shows is being able to create, build and strengthen industry partnerships.
Once you have decided to make the investment and exhibit in a trade show, how do you decide which one is the right fit for your business? Asking a few pertinent questions will help you to make a rational decision about the ROI of a specific trade show and determine if it’s the right one for you. Here are some questions you can ask to help you determine if a trade show aligns with your objectives:
- What is your overall goal? Are you trying to gain new leads, get publicity or make sales?
- What type of audience will be attending the show?
- What does a lead cost?
- How many leads have the potential to convert to customers? (In essence, what is the conversion rate?)
- What is the profit of an upfront sale?
- What is the long term value of the customer?
Trade shows offer unique benefits to all types of businesses. A business of any size, big or small, has an equal opportunity to network with current and potential clients and generate new leads through trade shows. 80% of trade show attendees have buying authority, meaning that 4 out of every 5 people walking past your exhibit could be potential customers.
Stand out from the competition and grab their attention with customized, unique displays. Our graphic designers can assist you with your exhibit design from start to finish and create eye-catching table-top displays, back wall displays, large graphical structures and more. Leave the design and display elements to us and focus your attention on building your brand presence at the show! Contact the experts at Splash Omnimedia today to find out more about incorporating trade show displays into your overall marketing strategy.