Benefits and Drawbacks of Exhibiting at Trade ShowsPublished on: October 4, 2019
Categorized in: News
Trade shows, are they worth it? The answer is dependent on what you intend to achieve from exhibiting at trade shows. Without a goal in mind, it will be difficult to measure what you can get out of exhibiting at trade shows. Trade shows have always been a very popular way to market your company, but exhibiting at a trade show is an investment for any company. With changes in technology in recent years, most clients will turn to the internet to find a product or service that best fits their needs. Due to these changes, many wonder if traditional trade shows still hold merit in today’s technology-fueled market.
What Businesses Stands To Gain From Trade Exhibition
Regardless of what your intents are, exhibiting at trade shows has always been an avenue for businesses to network, market, and showcase new products and services to the target audience. You can either attend trade shows as a visitor or an exhibitor, but our attention is on what you can get and cannot get by exhibiting at a manufacturers’ trade shows. Topping the benefits derivable from exhibiting at trades is the business relationships that can be forged. At exhibitions, your business will be able to reach new customers, clients, suppliers, and other valuable business contacts. Note that this benefit may not translate to immediate financial benefits. However, if strategically employed, your business will have use for business relationships forged at exhibitions.
As much it should not be a motivating factor to attend and participate in trade shows, you are likely to see what your competitors are doing to get ahead. Just by attending trade shows, businesses stay abreast of trends in their industry. By being able to size up your competitors, you can maintain a vantage point in the competition. More importantly, exhibiting at trade shows is an opportunity for generating sales leads or even making sales. There’s no better place to grab the attention of a potential customer than at a trade show. Lastly, by having a stand at a trade show, you are letting the industry know you are around and serious about your business. Thereby, creating an awareness that you are a serious player in the industry.
There Are Also Drawbacks at Exhibiting at Trade Shows
It may have an impact on sales, but exhibiting at trade shows is never a sure way of increasing sales. Of course, trade exhibition influences sales, but it’s never guaranteed. Not to forget the cost of exhibiting at trade shows, which isn’t cheap. Trade show exhibitions can swallow a large chunk of your annual marketing budget without a corresponding result. There are many expenses related to trade show exhibitions aside exhibition and sponsor fees; you are bound to spend on stand construction, logistics, labor, insurance, staffing, and many more.
All of these huge expenses when the leads are likely to be unqualified. Usually, manufacturers may not send key decision-makers to exhibitions. Lastly, you will be pitching yourself face to face with some of the biggest competitors in your industry. Be ready to be spied on by these competitors; they are not there to waste resources.