You’re seasoned in the world of trade shows and trade show marketing and have always felt exhibiting is a good idea for strong brand awareness. But did you know that trade shows, when done well, are a key piece of a successful business growth strategy? They don’t need to be thought of as a standalone piece of your marketing mix, but can instead work with your existing business strategies to fuel expansion growth. Here’s why:
1. Trade shows give you relationship building opportunities with industry professionals and leads.
Most marketers love that trade shows give them access to new potential customers, but many forget that there are other peers and industry leaders at trade shows who can be equally influential in the long term.
While it can be challenging to establish relationships with people in the midst of a harried exhibit hall, you can still lay a great relational foundation if you have a strategy in mind. Start by reviewing the list of exhibitors and speakers at a conference long before you attend. Identify a handful of attendees from each list that you’d love to meet who might be handy contacts to have at some point for your business.
2. Trade shows help you find leads.
This is one of the main reasons marketers seek out trade shows, but if you’re serious about growing your business, approach this the right way. Instead of thinking about simply acquiring new leads, think about first finding the right trade show. This might sound obvious, but if you only go to the most well-publicized conferences you’ve heard buzz about you might be missing the more niche shows where your most sales qualified leads could be.
Review the trade shows on your list and make sure they match up with your marketing objectives. If they do, you’re increasing the quantity and quality of leads you’re likely to meet, which is vital in filling your pipeline and fueling overall business growth.
3. Trade shows increase brand awareness and credibility in your industry.
We’re probably not telling you anything new when we say that trade shows are important for brand awareness. But they also serve a great purpose in increasing your business’ credibility, both with customers and your peers in the industry. Simply being present at the most important trade shows for your specific industry speaks volumes to industry leaders and leads; it shows that you’re in touch with what matters in the industry and also have the resources to exhibit. Such credibility can help bolster your growth and secure your place in your field as you grow.
4. Trade shows can help you scout out the competition.
Few people might want to admit this, but if we’re all honest, keeping tabs on competitors is a crucial part of growing your business – and of exhibiting at trade shows. Taking a look at how your competitors are positioning themselves and their branding can give you a leg up in understanding how to set yourself apart from them.
5. Trade shows can lead you to discover new suppliers.
Just as increasing revenue is central to growing your business, so is reducing expenses. You can improve your cash flow and free up some budget if you’re able to nix a few line items from your budget or reduce what you’re currently spending.
Try shopping around with other suppliers at your next trade show. Make a list of your industry’s top suppliers that are exhibiting at the same show and meet with each of them. You’re almost guaranteed to drive down the costs you currently have, which can spur you to better margins and ultimately business growth. If nothing else, your next trade show is the perfect place to forge new supplier relationships that can be maximized in the future.
As you plan for the most optimal business growth strategies for your company remember to include trade shows in the discussion. They can be an overlooked piece of the puzzle that can help to move your brand forward towards expansion. Contact us to learn more about how our trade show displays can help strike the right brand presence at your next trade show.