Want to Uplift Your Business Startup? (Reasons You Should Participate in Trade Shows)
Starting a business these days is harder than ever before. With so many huge companies that control the market, making it big usually requires a lot of innovative thinking and tactical product placement. A local business attracts new customers with advertising and word of mouth. That makes many business owners think they don’t need to participate in trade shows.
Going to trade shows is hard and time-consuming, but the benefits they provide far outweigh the energy put into the entire process. Trade shows are not only a place where you can showcase your services and products to a wider audience.
They are also placing where you can learn a lot about marketing and running a business from veterans and other successful companies.
So, before you turn a trade show invitation down, you must understand what benefits it provides. Here are some essential reasons why you should enter trade shows as much as possible.
1. Meet new customers and extend your offer
Gaining new clients using classic outbound marketing techniques often doesn’t yield the results you need. You can send messages and emails all you want, but many potential new clients won’t even open them to see your offer.
That’s where trading shows make a huge difference. After you present your offers and install an eye-catching trade show design for your booth, you’ll attract new customers and connect with people outside of your original client base.
Instead of talking over the phone, you will communicate with people in person, which allows you to connect with them much easier.
Some of them will buy your products, but many won’t. Even if they don’t purchase anything, they will remember you, which will make them more responsive, and could lead to increased sales in the future.
2. Strengthen the ties with existing customers
Just like you can connect with new customers, you can do the same with the ones that already exist. You will get the chance to talk to your existing customers and meet them face to face. Talking to customers in real life strengthens the ties between both sides.
That will lead to new sales, more significant deals, and a better understanding of the market overall. You will offer your customers a chance to talk to you in person, make big, long-term deals, thus increasing your revenues.
Modern technology makes us forget about the importance of face to face meetings. It’s easier to give someone a call or send out an email.
3. See where your industry is going
One of the best things about trade shows is the fact that you’ll get insight into the latest trends in the industry. You will get to browse through offers made by the leading brands and see what they do to be so successful. It might give you a few ideas on how to improve your own offers and improve your marketing. Believe it or not, the trade show banner design plays a major role as well.
You should bring as many staff members as you can, so you can cover more ground and get valuable information. Implement some of it and improve your business according to the latest industry trends.
4. Meet companies that can help you out
Attending trade shows will present you with a chance to attract new customers and meet other business owners. You will get to expand distribution and expend your supply chain at the same time.
Your sales team will focus on making sales, while the Purchasing Manager focuses on connecting with vendors and expanding business. Trade shows provide a unique two-way opportunity that could completely transform your business overnight.
5. Close lucrative deals with new customers on the spot
Sometimes, you will encounter serious clients looking for big orders. According to Simmons Market Research Bureau, around half of the people attending trade shows make some kind of purchase. Around 90% of attendees agree that trade shows are extremely useful for visitors as well as presenters.
Direct communication between you and potential clients provides you with extra breathing room, often leading to great deals and long-term partnerships. Unlike traditional outbound marketing, where the answer is usually no, trade shows benefit both sides, allowing you to increase sales tenfold.
6. Establish your brand on the market
Every business that enters a trade show is pretty much the same. You will get the same exposure as much larger companies than yours do. That presents an ideal opportunity to establish your brand, products, and services on the market.
Organize giveaways, and make sure that everyone hears about your offer. With an eye-catching trade show design booth, everyone will want to see what you are about. If you play your cards right, your brand could find itself right next to the leading names in the industry.
7. See what works for your competitors
You can’t establish any business without comparing it to the leading brands. Trade shows are an ideal place where you can do that without crossing any lines. Mingle with other business owners and see what they are doing. Apply some of those tactics to your business, and your business could explode.
Talk to existing customers, meet new prospects, and compare your offers to other similar businesses. You’ll get valuable insights into sales strategies, pricing, and factors that led to their success. Use what you learn to your advantage and watch your business grow.
8. Create new sales leads fast
Expanding your company through email offers and phone calls will often make you run into a wall. When you go to a trade show, you will be surrounded by people who are serious about their intentions and brands.
Let’s say that you present your offer on a trade show with tens of thousands of visitors. If only 300 visit your booth every day and only 100 make a purchase, you will still get access to hundreds of contacts in a few days.
Use them to build a stronger relationship with all those new clients, and you will secure a safe future for your business. Make sure to bring a few contact books and fill them up with new prospects.
9. Optimize your sales and improve lead generation strategies
As we said before, trade shows are the ideal place for meeting hundreds of new prospects. By doing that, you’ll go through a fast-paced training for advanced sales. You will get all kinds of feedback that will help you create new strategies.
All those small tricks of the trade will come together, and if you know how to read them, you’ll be able to monetize big. You’ll see firsthand what sales pitches work best and which ones are not very effective.
Keep the ones that work and tweak them with a few new techniques. Make sure that everyone present remembers your name as well as your offer.
Use what you’ve learned to grow
As you can see, there are a lot of benefits that come from trade shows. You will get to meet new prospects, strengthen your relationship with existing clients, see what other businesses are doing, and extend your offer directly to retailers. All you need to get started is a unique trade show banner design, a few giveaways, and friendly staff that will engage prospects.
Give it a try, and you will surely create new business offers and firmly establish your brand in the market.