Why NOT Exhibiting at Trade Shows Could Be Hurting Your Business
April 24, 2019
Many companies have a hard time justifying the costs that come along with exhibiting at trade shows. They may be perfectly content with their current marketing efforts. However, if your company is non-existent in the trade show world, it may be preventing you from huge successes and growth in your business.
You’re missing out on connecting with potential customers who are looking for services or products just like yours.
Trade show attendees go to trade shows for that personal interaction where they can see what your company is all about. These people are also the ones in charge of making buying decisions. 81% of trade show attendees have buying authority, meaning this is exactly who you want to be speaking to! Having the opportunity to get up close and personal with your target market allows you to make a great impression on potential customers when you have their full attention. This is where trade show marketing differs from your typical forms of outbound marketing, which throws information at people whether they want it or not. At trade shows, rather than hoping you’re hitting your target audience with information that resonates, you know that whatever your company is selling is likely of interest to the majority of the audience in attendance. This is an amazing opportunity for your company to speak with lucrative leads - people who are truly interested in your product or service, making your interaction with them highly valuable.
The main reason why 92% of people attend trade shows is because they are looking for new products. While your current marketing efforts may be reaching audiences that may or may not have any interest in your business, other companies in your industry who are exhibiting at trade shows are making connections with buyers who are extremely interested. If your company isn’t in attendance, there’s no way for prospective buyers to even consider you and will likely turn to another company.
Think of it this way - Traditional marketing is like fishing in an ocean with lots and lots... and lots of fish who may or may not be interested in your bait, while trade show marketing is like fishing out of a much smaller lake, where about 92 out of the 100 fish are interested in your bait. Clearly the second option seems much more effective. While it may be a more pricey form of marketing, especially if done a couple times a year, the ROI with this tactic can be exactly what you need to grow your business if you do your trade show marketing right.
You’re losing an opportunity to increase brand awareness and build relationships.
Continuously developing and strengthening brand awareness is a constant obstacle that many businesses struggle to overcome. Trade shows help in this battle by growing your business’s exposure at each show you attend. Whether or not a trade show attendee becomes a buyer or a lead for your business, you are gaining a spot on their radar. They may not make a purchase right away, but gaining their awareness is a great opportunity to bring them through your marketing funnel. This added exposure is also beneficial in warming them up to your brand and showing them that you are a standout company. With this approach, you’ll want to be sure that you have an appealing booth that portrays your brand well and shows off your great qualities. Consider promoting your brand with SkyFlyer hanging structures, which are cost-friendly but get your booth noticed. Creating a large structural presence is also an effective way of making a statement at a trade show and gives you the room to interact with plenty of potential clients.
Having the opportunity to promote your brand face to face with an audience in a controlled environment is a steadfast way to positively increase your brand’s awareness. Be sure to make your booth engaging so that visitors remember you, whether that’s through a photo booth with your branding as a backdrop, offering a special discount, distributing samples or integrating a contest. There are plenty of ways to make your booth interactive, so be sure to put this on your to-do list!
Don’t fall behind your competition by sticking to your same old marketing efforts. Maintain your mark in your industry and grow your brand’s awareness by exhibiting at trade shows. If you need some guidance on where to get started, reach out to Skyline Exhibits today!