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In the post-covid era, you may be questioning if it’s still worth having an exhibit at a trade show. But 2023 is in full swing, and many trade shows are back again. While many businesses fail to make the most when exhibiting at a trade show, there are plenty of reasons to exhibit. Ensuring you’re prepared and know how to follow up is key to getting the most out of it.
You’ve most likely seen some trade show stats in your lifetime. Heck, even I’ve seen a dozen or so articles with stats about trade shows. In compiling this list, we wanted to do something different. Instead of just listing off 7 reasons to attend a trade show, we wanted to give you some tangible ideas.
The facts provide a “So What?”. This means each fact will come with some action point or idea of what this means for you as an exhibitor. By the end, you’ll realise why trade shows are so popular and form the backbone of marketing for a lot of companies.
So, here are 7 Unbeatable Reasons to Participate in Trade Shows.
1. Most people who attend a trade show are able to buy
81% of trade show attendees have buying authority. Source: CEIR: The Spend Decision: Analyzing How Exhibits Fit Into The Overall Marketing Budget
This means 4/5 people you speak to have the authority to say YES. You can expect prospective customers to check out your products and services. So, what should you do? Try to have quality prospects at the expo. Even if you have something as simple as three piles for business cards – HOT, WARM, COLD. Post-show you know who to contact as a first priority.
2. Seize the opportunity
78% of trade show participants travel more than 400 miles. Source: CEIR report ACRR 1153.12
A US stat, sure – but very applicable for New Zealand and Australia. Most trade shows are run in big cities, which means many people travel to visit trade shows. Often times an industry could just have one major face-to-face event a year so it’s definitely worth participating in these. Collecting emails means you can stay in touch the rest of the year and build better business relationships.
3. Having an exhibit at a trade show strengthens your brand
The top 3 goals for exhibitors at these exhibitions are brand awareness, lead generation, and relationship building. Source: Skyline Exhibits market research
Understand what your goals are and make sure you do things that support these. By exhibiting with an attention-grabbing trade show booth, you’re able to enjoy maximum exposure and positive ROI possibilities. This way, you’ll be able to increase brand awareness and connect more effectively with potential customers.
And if your key goal is to get new leads – then make sure you have the right processes in place to manage them post-show.
4. Get ready to close some deals
67% of all attendees represent a new prospect and potential customer for exhibiting companies. Source: Exhibit Surveys, Inc.
Have an elevator speech prepared which introduces your company in 60 seconds or less. Unless you’re very well known within your industry, people aren’t likely to be familiar with your products. The first 60 seconds is your opportunity to grab their interest. Remember that a good elevator speech introduces your company, and your products/services, and evokes some curiosity.
Make sure you write it down and practice it before walking on the show floor. Practice makes perfect, and you’ll be able to say it on autopilot by lunchtime on the first day!
5. To discover products with potential is why they participate
92% of trade show attendees say their main reason for attending trade shows is to see new products being featured. Source: CEIR: The Role and Value of Face to Face
If you’re a niche player but have a great product, exhibiting at trade shows allows you to showcase yourself to potential new customers. Trade show attendees are often looking for something new or different, and it’s an excellent opportunity to grab their attention. For established businesses, it’s an opportunity to highlight something new you’ve cooked up in your booth – people love something new!
6. Get your sales pitch ready
46% of trade show participants are Industry leaders and in Executive or Upper Management. Source: CEIR: The Role and Value of Face to Face
Make sure you’re ready to engage them and provide accurate answers to their questions. Think through what they might ask you and have materials ready to back you up.
Also, think about how you might engage these prospects after the show. If you can show to add value then this is a brilliant way to convert them into loyal customers.
7. Stay on top and ahead
The perception of a brand that is not represented at an event falls by 5%. This is true even for global brands. Source: Facetime.org “The Power of Live Events
Brand awareness might not be on the top of your agenda, but it’s important for both big and small businesses. With trade shows, you know you’ll be exposed to the right target market so it’s a good idea to participate.
These exhibitions are an incredibly valuable opportunity not just for expanding your sales and marketing reach, but also for building your business’s brand and positioning yourself as a top player in your industry.
Prepare for Success
Of course, going to a trade show is really just the start of the road. Trade shows give you a unique opportunity to showcase your product or service, and gain real quality leads. However, it’s what you do before and after the show that really matters. The most common mistake businesses make is going to a trade show without a plan. The second most common mistake is not having a plan for after the trade show.
We’ve been to dozens of trade shows ourselves, and understand the ins and outs of making it work. Reach out and let’s have a chat to see how we can ensure your next trade show is a MASSIVE success!
Assia Salikhova
Smarketing Lab Co-Creator,
developer of profitable B2B solutions to grow your business.
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