Tradeshow Tonic

Does Your Business Need a Trade Show Exhibit?

Published on Aug 26, 2019 2:54:15 PM

 

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THE GLOBAL TRADE NARRATIVE

The Open Markets Institute, an anti-monopoly think tank, released data on June 2019 showing an increase in market concentration in a wide range of US industries, from makers of dry cat food to adult websites. "In many cases, a handful of firms control more than 50% of the markets. More neutral sources also estimate bigger firms are taking up a larger share of America’s economy."

In many markets for goods and services, there are fewer domestic producers. So instead of going to the local pharmacy, we now go to a chain store. There are fewer airlines, insurance companies, and companies that operate hospitals. In newer industries created by advances in technology there is also lots of concentration. We buy most of our books from Amazon, network socially on Facebook (which also owns Instagram), and have a cell phone contract with one of a few providers.

 

Bottom line, your competition is few, but fierce....  What are you going to do about it?

 

Are you looking for a way to bring your brand directly to the forefront of your niche market?

FIRST, DEFINE YOUR UNIQUE SELLING PROPOSITION — GIVE THEM A REASON TO DO BUSINESS WITH YOU.

 

NOW, .... READ ON....

Why incorporate a trade show exhibit into your current marketing mix?

Modern live exhibiting allows businesses in every industry to seamlessly blend traditional components, like banner stands, giveaways and brochures, with cutting-edge innovations, like social media, video conferencing and Internet resources.

Together they deliver a perfectly balanced promotional approach. Participating in even a few trade shows per year can help your company establish relevance and industry expertise. It also keeps your brand in front of a live consumer audience, which is a win-win-win situation for any organization.

Despite the many benefits offered by live encounter events, some business owners still feel reluctant to move forward with implementing this type of marketing approach. If you are still contemplating whether this type of promotional plan makes sense for your business, you should know about some distinctive advantages that this tactic offers.

 

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HERE ARE 5 REASONS WHY YOUR BUSINESS CAN DO MORE WITH TRADE SHOW EXHIBIT

 

Sustainable Impact

Every marketer knows it’s not about the quick spikes in attention from a targeted demographic; it’s about building sustainable marketing momentum. An event display helps you engage and connect with your audience in a memorable way, effectively building long-term brand exposure.

If you are a startup and want to try creative avenues of marketing your products, trade shows might be an answer. 

To make a sustainable creative impact, bring clarity about your offering to your target audience. Answer these questions.

 

“WHO AM I?”

I am totally unknown to them. Why will they speak to me? Do I want to trap them with a gimmick for short term gain or, is my product a game changer?

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— Does not matter what your product is. What matters, is how you connect your product with the contemporary culture.

 

 

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“I SOUND IMPRESSIVE AND I HAVE A COOL PRODUCT”

They haven’t heard of me, but, do I seem like someone they’d want to know. In other words, is there a market for my product?

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— Backing your product with transparent value system is a merit that is worth cultivating.

 

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“MY RESEARCH SHOWS THAT PEOPLE KNOW ABOUT ME BUT I DON'T EVOKE ANY STRONG OPINIONS”

How do I use the venue and the audience and craft an experience that will help create an impression about me? I need to do this consistently for few years before I can make a dent in their psyche. What do I need to do, to get a 3 year plan down.

 

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— Perception about your product is more important than the product itself

 

 

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“PEOPLE LOVE ME. I HAVE BIG FOLLOWING ON SOCIAL MEDIA. HOW DO I TAKE THE NEXT LEAP?”

Get customer focused.

Get 360° view of the customer. Go through the digital interactions and derive some anlalytics behind it. Create a platform for predictive forecasting and response using social media. Get a pulse on real time customer sentiment — devise a cross channel integration. Then devise a need based customer segmentation... This is not an easy exercise. But, once you go through it you will see a pattern that will help you take the next leap.

Then your job becomes to formulate a show specific offer.

 

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— Reward your brand advocates. Tradeshows are excellent venues to do so.

 

ABOVE VISUALS ARE EXAMPLES OF THE SAME PRODUCT. THE IDEA HERE IS TO LURE DIFFERENT MINDSETS.

MORAL OF THE STORY — IF YOU HAVE A CLEAR MESSAGE, LIKE-MINDED  PEOPLE WILL SEEK YOU OUT.

 

 

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Learn and Outgrow Beyond Conventional Face-To-Face Opportunities


Beyond the obvious face-to-face product pitch opportunities within the booth itself, a live event also offers other crucial ways for your business to connect with consumers.

Hosting webinars during the function, (this will help the include your social media followers to be participate in your event), offering live product demos, and even offering to be a keynote speaker can help propel your brand in a meaningful way.

 

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Spike up the energy of your space with groups of people who will rotate through out the day in your exhibiting space. These people are your brand advocates. They are there to spread the reason as to why you are better.

 

IF YOU ARE PLAYING THE 'SAME BUT BETTER GAME', tell your audience why you’re better: We’d all like to think our products sell themselves, and it’s tempting to think that once your products are on display, they will. Give yourself more visual proof by supporting your products with graphics that make your products’ benefit obvious.  Do your products last longer? Do more, faster? Cost less over time? Take less energy? Tell your products’ story with graphics and/or AV tech.

 

 

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Unparalleled Lead Generation (our research shows this is the most popular reason for trade show exhibiting)

Building your consumer base means consistently generating leads for prospective new business. Scraping up new names and leads can be a challenge you’re when sitting at the office.

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— Unless of course, if you are a giant in your industry.

 

Setting up a trade show exhibit allows your leads to come to you. You can set up contests where participants have to enter their contact information to participate, create QR codes that link to your social media pages to encourage attendees to follow your business, and encourage booth visitors to leave their business cards to ensure you maximize and leverage every lead opportunity available.

 

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— All the technology with QR codes and artificial intelligence will fail to do the job for you if you are not mindful of those keen observers staring at from the isle.

 

 

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Level Playing Field


If you’re running a small to mid-sized business, you already know firsthand that going head to head with your biggest competitors isn’t an easy process. For many entrepreneurs, it’s hard for them to find enough of a foothold in their industry to compete with larger, more established businesses.

A trade show exhibit changes all of this. Simply showing up to the function demonstrates to your prospective clientele that you have what it takes to run in the same circles as your competitors. No matter what the size of your company, you can instantly level the playing field to command attention from any other players in your industry.

However, if you are exhibiting, please be mindful of your presence and the the perception of your brand.

 

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— If you look bored and unsure of yourself, you can be assured that your brand projects the same vibe.

 

 

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Close Deals and Meet Decision Makers

Here is the biggest reason why your company needs a trade show exhibit. Not only will you enjoy extensive networking opportunities throughout any event, you will also have the chance to actually close deals during the function. Every transaction handled means you’ve generated revenue; this is the ultimate achievement at any live marketing forum.

Also, Economist Jay Ritter argues that it is no longer economically viable for small firms to grow into big firms. It makes more sense for smaller, more agile firms to innovate and then be bought by big firms, which can take the products to market on a global scale. This is often how innovation works in the bio technology industry, where small start-ups come up with new treatments which are snapped up by big pharma.

Where do you think you will meet so many buyers who might be interested in buying you out?

 

POPULAR EVENTS FOR YOUR BUSINESS GROWTH

 

 

FINAL NOTES

"According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn." Do your research. Make exhibiting at trade shows a worthwhile investment.

 

To find out other reasons your business needs to exhibit at trade shows and how your peers make the most of their exhibiting investments, request your free copy of the What’s working in Exhibiting white paper. 

8 Trending Tactics for Today's Trade Show Exhibitors

 

 

Image sources: Worlwide Web. This article first appeared in www.skyline.com in a constricted format.

 

Topics: Trade show booth, Trade shows, Art and Science of Lead Generation, trade shows for startups

Join 170,000+ exhibitors who has profited from our insights

 

10 STEPS AT EXHIBITING AT THE RIGHT TRADE SHOW

 

1. Objectify your Objectives

First things first.  What are the goals of your trade show program?  Are you launching a new product that you want current and potential customers to know about?  Is this specifically for branding your company as an industry leader?  Do you want your sales team gathering leads and making sales right at the show?  All of these questions are very important when deciding which shows to spend money on.

 

INLITEN

 

2. How to Identify Show that is Appropriate for YOU

 

Research possible shows for your team to attend over the course of the next year and make a list. 

Make sure you include:

  • All of the large shows in your industry.

  • Shows specifically for procurement, co-ops and buyers groups – if you’re able to find one that works for your business, they are great ways to make face to face sales with procurement folks and sometimes even the business owner themselves.

  • Ask your top 10 customers what shows they attend.  This will help you identify large and small shows specific to the industries that use your products most.

  • Add everything you find to the list even if it has overlapping show dates.  This way you know what shows your target attendees are splitting their attendance between and you can make informed decisions about your show schedule.

 

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3. How to Do the Homework

When evaluating a show’s potential, gather as much information as possible—show statistics/demographics and review lists of previous participants. Verify information provided by show management. Speak to past exhibitors and attendees.

Check Facebook and Linkedin pages for the event and read posts by exhibitors and attendees.

In some cases you may even want to see what the marketing plan is for the show to ensure show management is doing their job to ensure you have the number and quality of attendees you expect.

 

 

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4. Visit the Show

Whenever possible, personally visit the show prior to exhibiting to assess its value. Evaluate the supporting events and/or educational seminars around the show.  It is MUCH less expensive to send one person to attend a show for a day compared to the costs of exhibiting and can give you firsthand knowledge of the real pros and cons of a specific show.

 

 

5. Consider location

When evaluating a show’s potential, take geographical location into consideration.  Usually 40-60% of attendees come from a 200-mile radius of the show location.  Consider your distribution area and target audience.

 

 

6. Consider Timing

What other events are scheduled for the same time as the show and will they impact attendance?

 

 

INTERNATIONAL EVENT EXHIBITING COVER

 

 

7. Additional Show Marketing

Some shows have built in Exhibitor Marketing, including links to your website, uploading marketing materials and detailed contact information.  Are there ‘Product Showcase’ events or Educational Seminars you could present at?  Usually there are opportunities for sponsorships that can increase your visibility and each event prices these differently so you may be able to afford these opportunities at one show over another.

 

 

COVER-GETTING BOOTH VISITORS

 

8. Schedule it Out

Plan a schedule well within your budget and try to stick with it.  One successful show at the beginning of your show schedule does not mean that quickly adding more shows to the schedule will automatically produce the same successful results.  Planning to attend too many shows can mean that you are unable to do the marketing and follow up necessary to make each show a success.

 

 

9. Play it with Prudent Intelligence

Be cautious about participating in a first time show. Promotional material may be extremely persuasive, but a show without prior history is a risky venture.

 

 

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10. Choose your Space Wisely

Every trade show is unique and there are many variables affecting direction, volume and quality of traffic past your display.  Be familiar with the floor plan and how your trade show booth fits.  Consider how close you want to be to the main attractions, industry leaders, competitors, restrooms, food stations, entrances, exits, escalators/elevators, windows or seminar sites.  Avoid obstructing columns, low ceilings, dead-end aisles, loading docks and freight doors, dark/poorly lit spaces, ceiling water pipes, late set-up areas or “black spots” on the floor plan.

 

Ten steps may seem like a lot to do.  But there is arguably no more important decisions you can make than which shows to exhibit at to affect your trade show success.  Take the time to choose shows wisely, and reap the benefits of more leads and sales from your program.

 

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  • 46% of executive decision makers make purchase decisions while attending a show
  • 95% of the executive decision makers meet with their current suppliers at a trade show
  • 51% of executive decision maker requested that a sales representative visit their company after the show