More and more businesspeople are discovering the power of trade shows. Trade shows may not be useful for every entrepreneurial venture, but they can certainly increase orders for businesses serving a large and fairly specific market.
Many small-business owners, however, still don’t quite understand how trade shows can help them meet their marketing objectives. We will now look at how to use trade shows as a sales tool.
Trade shows are events at which buyers and sellers in a particular industry meet face to face. Trade shows are effective for introducing new products or services to a specified target market and for reaching a large number of quality prospects over a short period of time, at a relatively low cost.
They can be very effective – if exhibitors do their homework in advance, picking just the right show to reach the intended market.
The number of small and medium-sized companies displaying new products at trade shows is growing. This growth is due to the increasing costs of sales calls and the number of calls generally needed to close a sale.
If a salesperson starts off making a cold call, they will need to make an average of 5.1 calls before closing a sale.
If a sales rep calls an interested prospect who already knows about the business because they attended a trade show at which the business exhibited, he or she will need to make an average of 0.8 calls to close the sale. More and more advertising agencies also suggest that their clients exhibit at trade shows.
Advantages of trade shows
Trade shows offer several advantages to the businessperson. The chief advantage is the ability to network with other people in the same industry while accomplishing major marketing goals.
You can contact new accounts personally and get immediate reactions to new products, often from top industry executives and decision-makers.
The trade show offers the rare chance to meet customers you’ve previously dealt with only by mail, or by telephone, as well as promote your company and analyse the competition.
Trade shows have been labeled “the super sales call.” Not only do prospects come to you, eliminating the need to search for buyers and make appointments, but you’re also able to control the environment.
Your booth is your territory, specifically designed by you to serve your needs. You’re not limited by the constraints of foreign surroundings – someone else’s office, factory or shop.
Because you are demonstrating your product on your own turf, you can establish a setting which emphasises the superiority of your product or service.
Depending on the size of the booth and on the product or service you demonstrate, you might use presentational aids such as videotapes to reinforce your salespeople’s messages.
Finally, the exposure you gain as an exhibitor can build new business relationships. You can invite prospects to follow-up lunches, dinners or cocktails, and add them to mailing lists for future contact.
While the trade show provides ready-made customers, selling to prospects takes just as much, or perhaps more, skill at a trade show as in any other situation.
Competition at many of the larger shows is fierce, with hundreds of exhibitors vying for the attention of influential decision-makers, buyers, company executives and industry insiders.
If you lack salesmanship, leave the presentations to the best and brightest people on your sales staff. The trade show can only be a key element in your marketing plan with effective planning, research, salesmanship and follow-up.
Show Sponsors And Attendees
Hundreds of trade shows are held across the country each year. As a potential exhibitor, you have to do a fair amount of research, selecting only those national or large regional shows which will effectively reach your intended audience.
Knowing each of the trade associations supporting your industry is the first step in researching trade shows. In many cases, associations sponsor the major shows for their industries.
Affiliating yourself with them can increase your chances of success as an exhibitor. In some cases, you can even gain access to their mailing list for before- and after-show mailings or valuable market statistics.
Additional sponsors include trade magazines, general-interest journals covering a specific market, and private show promoters.
Subscribing to trade journals and related publications will keep you up-to-date not only on the exhibitors’ market, but on emerging industry trends as well.
Before deciding whether to exhibit at a particular show, make sure you know who will attend. It’s important to know in advance roughly how many attendees from your target market will attend.
It may turn out that only 10 percent of the attendees will represent your market. Having that information in advance can help you decide which shows you should attend, if any.
Request that the show sponsor provide attendance breakdowns.
If it can’t or won’t provide the data, don’t exhibit until you’ve visited the show. Take note of the types of people who attend and talk to several exhibitors. Discuss the audience’s reaction and their views on the exhibits.
Take note of the types of exhibitors present, and observe the audience’s reactions.
