There are a variety of ways to describe a trade show or a trade fair. The vast majority of trade exhibits usually focus on a single industry, such as aviation or computers or any particular niche.
In a trade show, members of a given industry gather in a large conference/convention center or other indoor location to demonstrate, display and chat about their products with visitors at a fair trade event. They’re not all confined to the confines of their homes. Air exhibitions, for example, are frequently held in the open air. Trade shows host exhibitors who are present there to show their products to the visitors. Visitors usually come with the sole intention of buying from exhibitors. Trade shows are mostly a B2B exchange, and hence, the regular audience is not allowed to enter this event!
Trade shows are typically sponsored by trade organizations in various locations around the world. Every year, there are hundreds of large, medium, and small-scale exhibitions around the world.
Only company officials, association members, dignitaries, and media can attend the majority of the significant events.
Importance of Trade Shows
Trade shows are of enormous importance because they let you showcase your products/services to a massive audience on one single platform. Let’s discuss how beneficial trade shows can be for any business!
Lead/Sales Generation
Trade shows are the mediators between exhibitors and those who attend the trade shows to make a purchase. You can find your target audience at trade shows and specifically sell to them hence, generating leads and sales!
Build Connections
Trade shows allow you to become visible in front of people you never thought you would meet. You become more legit in the eyes of the visitors and your brand’s marketing happens on its own. The more you interact with visitors, the more they know that you’re an actual entity and not spam!
Negotiations And Orders
There are several benefits to attending trade exhibitions, such as bringing together all different players in a particular business. It’s easier for firms to plan meetings, negotiate orders, and work on other initiatives when many people are in the same spot. A trade fair is an excellent place for businesses to meet with their suppliers and even other firms, and it’s also a perfect opportunity to move projects forward.
Brand Expansion
Businesses are continuously seeking strategies to expand their brand and boost client awareness. Because trade fairs allow firms to get their brand in front of new and existing clients, regardless of whether they attend the show as an attendee or exhibitor, they are significant.
When it comes to connecting with trade show attendees, booth design is one of the most critical factors.
Return On Investments
The soul of any marketing strategy is what kind of return it can give when money goes into it. You can never really be sure of marketing strategies, and honestly, who would want to spend money on something that won’t earn profits?
However, with trade shows, you can be sure that your brand will reach a massive chunk of your target audience who have come with the sole intent of purchasing products. In a survey by Statista, 74% of respondents stated they were more likely to acquire products that had been advertised in trade shows, which makes branded events and trade fairs extremely significant.
Now that we know what trade shows are and how beneficial they can be for your business, how about choosing the right trade show? There are several trade shows happening in your industry, but how would you know which one to attend and which to drop? All of them might sound promising and alluring; however, should you attend all of them? Or is there a criteria list to follow that can help you determine which ones are worth attending? Let’s find out all about it below!
Top 8 tips to choose the right Trade Shows to attend
Match Intent with Events.
There’s more to trade exhibitions than just meeting new people and bringing home freebies. They provide an opportunity to develop new connections and broaden your horizons by entering new markets. Therefore, you need first to decide for yourself your reason and objective of attending a trade show. You can start by making a list of what exactly you want to participate in the trade show for. Is it to increase leads or sales, or is it about making people aware of your company? Do you want to show off the new product or service you’re launching, or is it just strengthening relationships with your customers? If you have answers to these questions, then your Trade show journey is pretty much sorted.
Play Detective (research)
Before making your final decision, conduct some research to discover more about each trade show so that you can determine whether or not it will help you achieve your goals.
Find as much information as you can on the show’s demographics, past participants, and attendee numbers. The show’s administration generally has this information readily available, and it can help you swiftly limit down your options of viable trade fairs, not to mention that your top leaders will most likely ask for these details at some point in the process.
Event History And Reputation.
Once you’ve compiled a range of suggested trade fairs, you can narrow it down even further by learning more about the event’s visitors’ history. Is this a new trade show, or has it been in existence for several years? While the duration of an event is unquestionably a good predictor of its success, don’t stop there. Determine whether the event has received adequate publicity in the past and whether or not the show organizers have a positive reputation. If you know another group that has participated in the past, you should contact them and inquire about their exhibiting experience.
Attend Before Exhibiting.
It is much better to get a handy experience about what the trade show is actually like. Whether it is about the booths or just observing what kind of people attend these trade shows, first is always better than exhibiting first-hand. If you attend first, you’ll be sure of what to do and what mistakes to avoid when you exhibit.
Know your Audience’s Preferences.
It’s tempting to go to conferences where everyone is talking about you. But don’t do it! The most significant events should be attended, but don’t get carried away. A large audience is essential, regardless of whether there are 5,000 or 500 people in the room. The majority of trade fair attendees come from the surrounding area, so keep this audience in mind as well, and see if any of them match your customer profiles.
To cut down your list of potential trade shows, you should look into the fair’s prior experience. How long has this trade expo been going on? It is undeniable that the length of an event can accurately predict its success, but it is not the only factor. You need to also find out about how the event ranks in the outer world, what is the reputation of the people who organized it, and whether the trade show was successful or not! Inquire about their displaying experience if you know of another organization that has already participated.
Researching the finest trade exhibitions to attend can help you maximize your budget!
Consider Press Exposure
Can the show provide any further marketing opportunities beyond the event itself? Do you have the opportunity to engage in educational seminars or receive sponsorships? Ask for a copy of last year’s press list and a list of media members who have already registered for this year’s event. Contact the media as soon as possible if you plan on attending the trade fair. Your return on investment (ROI) can be boosted by taking advantage of valuable marketing opportunities.
Budget
If you can’t afford to exhibit at the trade show, it doesn’t matter how wonderful it appears on paper. In addition to the cost of renting booth space and designing your display, you should also consider travel and expenses, promotional material, and shipping. The prices of attending a trade show can quickly pile up, so be sure to conduct your research ahead of time to avoid any surprises.
Talk to others in the industry.
It is always better to talk to relevant people in your industry about how trade shows work and what kind of trade shows you must attend or exhibit. There could be a chance that you may not be aware of the organizers or the previous history of the trade show, but when you talk to people, there can be a lot that can come to your eyes about the event or the one who’s carrying out the event!
Conclusion
Trade shows can pretty much be your calling if you really want to invest money into reaching a massive target audience. If you are a visitor, this article will make it crystal clear for you regarding all aspects of trade shows, whether their importance or the points to keep in mind when you want to attend a particular trade show!