Many companies leverage trade shows to meet and physically interact with both potential and existing customers. Entrepreneurs can also use trade shows as a stepping stone to discovering innovative techniques in their industry.
Amid technological advancements today, trade shows remain some of the most effective marketing strategies. Read on to understand why numerous entrepreneurs hold annual exhibitions and why trade shows will still be relevant in the future.
Statistics in the Tradeshow Industry
Statistics suggest that business-to-business (B2B) companies spent nearly 50% of their marketing budget on trade show exhibitions. Often, these exhibitions take either two or three days which means companies spend lots of money on creating awareness.
Approximately 48% and 24% of all global trade show exhibitions occur in Europe and the USA. However, these continents face competition from the Asian trade show market, which has been growing fast.
With such rapid growth, participating in trade shows is critical for business growth. Are you looking for an exhibition stand? Leverage a stand’s finder worldwide provider to help you find the ideal exhibition stand for your business.
Today, Asia hosts more than 2,000 trade shows and exhibitions annually, with China being a valued player. Here are reasons why trade shows are and will remain relevant for many years.
1. They allow you to Meet and Interact with Potential Customers.
Pursuing a lead and getting no response in return can be frustrating, especially for first-time small business owners. Navigating through the competitive market is one of the most challenging processes when it comes to outbound marketing.
Participating in trade show exhibitions enables you to meet and interact with potential customers physically instead of speaking to them over the phone. Remember, many customers today yearn for a personal connection with their service providers.
Some potential customers may purchase your products from an exhibition while others will not. However, you will have exposed your brand and displayed your authenticity to the world. Some of the people attending the exhibition may soon become your buying customers.
2. Trade Shows Enable Entrepreneurs to Meet and Interact with New Companies
Attending trade shows is one of the most effective ways of meeting new companies and discovering new technologies. Such interactions give you a chance to broaden your supply line and grow.
Your marketing and sales staff can leverage trade show exhibitions to connect with potential customers. On the other hand, your purchasing head can strive to interact with new contractors and vendors to facilitate business growth.
3. Leverage Trade Shows to Advance Your Lead Generation and Sales Plan
Trade shows allow you to broadcast your brand to numerous potential customers within a short time. These platforms are what you need to advance your lead generation and sales plan. Develop various sales pitches and try them on potential clients at the trade show.
Doing so enables you to discover what works and what does not. You can then use your experience to perfect your plan to make them more effective for future exhibitions.
- Get Real-Time Feedback from Your Potential Customers
Trade shows allow you to determine the needs of your potential customers first hand. Again, people visiting your stand will give you feedback about your services or products in real-time.
Unlike other marketing techniques available today, trade shows offer unique benefits for your business. You can leverage them to navigate today’s highly competitive market and reach a wider audience.