Trade shows are a vital part of many industry sectors and an essential revenue stream for a wide range of businesses of all sizes. If your company has never exhibited before, it might be difficult to see the benefits. In fact, trade shows hold a massive amount of potential value, and not only in terms of on-site sales. So what makes exhibiting a good investment?
What Is a Trade Show?
Trade shows—also called trade fairs, exhibitions, and sometimes expositions—are events where companies in a specific industry showcase their brands, products, and services. Trade shows are typically B2B events that aren’t open to the general public. Attendees are people who work in the relevant industry.
Companies that want to exhibit at a trade show must register to attend and rent booth space. They can then set up a trade show booth in that space. Most trade shows offer various sizes of booth space—or footprints—at different price points. Trade show exhibits can be simple or elaborate, depending on what the company wants to spend. A simple trade show booth might consist of a table and one or two display stands. Or they could rent a huge 20×20-foot space with a custom exhibit.
Companies exhibit at trade shows for a range of reasons; for instance:
- To find new leads and customers
- To connect with existing customers
- To network within the industry
- To launch a new brand or product, or a new startup
They can also provide extra opportunities, such as engaging with press or attending education sessions.
For trade show visitors, these events offer similar kinds of benefits, but from the perspective of a buyer rather than a seller. Many visitors are looking for specific products or solutions, and they visit a number of booths to find the best options. For some, it’s more about keeping up with the latest product innovations in their industries and finding opportunities to learn and network with peers.
What is the Difference Between Trade Shows, Conventions, and Consumer Fairs?
Trade shows are mostly B2B (business-to-business) events, where the exhibitors and attendees are people who work in a specific industry or a group of related industries.
In contrast, consumer fairs and some conventions are open to the general public. Attendees at these events are consumers, rather than professional company reps.
Some events combine the B2B and B2C (business-to-consumer) markets, but most are either one or the other. Trade shows are usually B2B events, while consumer fairs are B2C events. Conventions are more flexible: They can be either or both, depending on the specific event.
6 Reasons Trade Shows Are a Valuable Investment
1. Build Brand Awareness Within Your Industry (and Scope Out the Competition)
If you’re a B2B company, exhibiting at trade shows is a valuable tool for marketing your business. Trade shows are packed with industry peers, including competitors and customers, as well as members of the press. The major trade shows can have hundreds or even thousands of reporters, photographers, and other media professionals.
Don’t forget that your competition may be in attendance, and they’ll be vying for attention too. It’s always important to consider how your brand fits into the industry and what you can do to stand out at a show. Think about what sets you apart from your competition, and play on that in your booth design and product displays.
When you’re there, take the opportunity to walk the trade show floor and see what your competition has going on. Are there new design or marketing ideas you could apply your creativity to?
2. Find Qualified Leads
For most exhibitors, finding new leads is one of the most important reasons to attend trade shows. At many B2B trade shows, a high proportion of visitors are people who have some kind of decision-making or purchasing power. They’re CEOs, founders, and presidents, or buyers, department heads, and team leaders. In short, they’re people with the authority to make purchasing decisions—meaning they’re the ones you need to convince.
Depending on where they’re at in the decision-making and purchasing process, they might not be ready to buy at the show. But meeting with these people can still be fruitful because once you have their contact info, you can ease them into your sales funnel. When they’re ready to make a purchase, you’ll be there with the solution they’re looking for.
3. Close Deals with New Customers
For leads who are already in your sales funnel, a face-to-face meeting at a trade show could be the final clincher that helps you close the deal. That’s one reason it’s always worth reaching out to your email subscribers and extending a personal invitation to drop by your booth.
4. Gain Fresh Insight Into Your Industry
Attending trade shows is a great way to keep up with what’s happening in your industry. Shows aren’t just for making sales: They’re also packed with people you can learn from or partner with to your benefit. You can check out what your competition is doing, see what’s new and interesting in the industry, and perhaps even make new business connections.
5. Network, Network, Network
Not everyone you meet at a trade show is a potential customer. But many people are potentially useful additions to your professional network. You may find a business mentor, a new supplier or distributor, or a new solution to an old problem.
6. Trade Show Extras Add Value for Exhibitors
Many trade shows aren’t just stand-alone shows. They’re part of larger events that also include conference tracks, education sessions, networking events, and even press and media events. At these events, you can do more than just close deals. When you buy exhibit space, you typically get at least one free pass to the rest of the event content, giving you the chance to learn, network, and more. Don’t waste that opportunity: Check out the keynote, sit in on the most valuable-looking breakout sessions, attend some networking events. They all have something to offer.
Trade Shows Let You Market Your Business Directly to Your Audience
There are lots of great reasons to exhibit at trade shows. You get to meet and mingle with your professional peers, learn more about your industry, and take advantage of learning opportunities. But most of all, attending trade shows puts you face-to-face with your customer base, as well as an audience full of potential customers—all under one roof.
Need a little guidance to make your next trade show a hit and grow your business? The ProExhibits team has been designing and building award-winning trade show exhibits for more than 30 years. Contact us!