5 Reasons Your Business Should Attend Trade Shows
Today, our business climate is dominated by e-commerce and digital landscapes. Attending events in person seems like an antiquated concept. However, trade shows and professional venues retain value which hold fast against the inexorable advancements of the digital era.
Trade shows are held by various organizations for a given industry across many major cities and locations around the globe. They are a prominent gathering of businesses, industry experts, and enthusiasts alike. These forums provide opportunities for all attendants to be educated, get hands on interaction, and have some fun.
Here are 5 reasons a businesses should attend trade show events:
Networking
Networking is a requisite for business relationships, regardless of your corporate model, industry, or scale. Building strong relationships with your clients, customers, shareholders, and partners is an inherent aspect of networking.
Trade show networking and face to face interactions are in many cases preferable to digital communication. Relationships with potential clientele is rooted in some of the fundamental aspects of human interaction. These factors can determine the scope and success of your networking efforts:
- Nuances of dialogue
Tone of voice, projected volume, and demeanor are all subtle factors that determine how messages are conveyed. These subtleties can influence the meaning behind your communication in various ways depending on the aforementioned.
- Body language
Eye contact, posture, physical interaction, and facial expressions are all elements that define how you are perceived. This can either supplement or contradict your intended message and should align with your persona.
- Establish Rapport
Building trust, leaving a lasting impression, and maintaining a good relationship is quintessential in business. Professionalism is paramount in building business relationships and network growth.
- Swift Communication
Immediate feedback, short pitches, and impelling decisions allows for a quick turn around process in minutes versus days/weeks. This means more sales, customers, and overall growth. Hence, tradeshow events that occur over a short period of time are too good of an opportunity to pass
Marketing
Event marketing strategies can be an invaluable asset to your inbound marketing mix. Trade shows and live events offer organizations a unique chance to bring together their most promising prospects in one location. This creates the perfect opening for you and your brand to interact with potential clients.
This gives businesses an opportunity to demonstrate their brand, products, services, and value propositions to a highly qualified audience. Hence, businesses can expand their reach, generate greater engagement, increase brand awareness, and build rapport with your target audience.
One potential idea for event marketing is promoting your own personal event in tandem with an email marketing campaign. You can increase event attendance by sending invitations to generate excitement. Additionally, creating an event website is another great way to promote your event. This website can include all of the important details about the event, such as the schedule, location, speakers, and registration information.
Competitor Analysis (SWOT)
Interacting directly with highly qualified leads is a tantalizing prospect for any company across all industries. Your competitor's offering will be on display for all to see allowing for you to gauge their aptitude. A Competitor analysis (SWOT) is an imperative procedure for businesses within the competitive landscape.
Attending trade shows are an ideal environment for evaluating competitive advantages and learning about industry trends. These events allow you to analyze competitor strengths and weaknesses, assess opportunities, and mitigate risks. Trade show events can also highlight comparisons between your competitor's product and that of your own. Analyzing your competitors can lead towards the adoption of new ideas or changing certain approaches to various business practices.
Product Sampling
Tradeshows and events provide a unique opportunity to create a tangible connection between your brand and potential customers. Event attendees can determine your value proposition through samples or visual demonstrations. Thus, giving a chance to engage directly with your business. This interactive exchange can help create an emotional connection with your brand and leave a lasting impression.
Product sampling conveys a wealth of information, garners immediate feedback, and provides invaluable data for future improvement. Numerous studies have shown that sampling is a timeless sales strategy that leverages human psychology. Allowing customers to try products or services from a company they are unfamiliar with increases the likelihood of conversion.
Drive Sales
Trade show floors are packed with highly qualified leads looking for new ideas. Many clients are actively seeking solutions to their dilemmas, best deals available, and to make business decisions on site. This provides the best environment to pitch your value propositions and products amidst the massive quantity of foot traffic. This can undoubtedly help to drive sales, increase your bottom line, expand market share, and generate customer lifetime value (CLV).
Attracting new customers isn't the sole focus of your sales efforts however. Existing customers must be met with different goals. These include objectives such as increasing the ticket and frequency of purchases, which means augmenting or enhancing their current experience. Live events are perfect for unveiling a new product line, service, or promotion to entice said specific audience.
Digital and virtual mediums have become a preferable choice due to advantages such as cost mitigation, remote access, and reach. There is no question that this common practice has unique advantages and is a requisite for current business practices. Regardless, there will always be distinct benefits to interacting with people face to face at events.
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Written by: Louis Vejmola
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