The Benefits of Exhibitions and Trade Shows
June 19, 2017
The appeal of trade events is extensive as trade Shows and events have a detailed history of bringing together traders and customers, both B2B and B2C. Their expansion throughout the decades is obvious as a larger number of companies from a wide number of industries, ranging from agriculture to weddings get pop up gazebos or a temporary shelter to operate out of in order to use the event as an effective marketing tool in order to create brand awareness for them.
At the worst point of the economic downturn a high number of businesses chose to withdraw from exhibiting at shows internationally. As a result of most companies getting out of the perils of the recession the attractiveness of exhibitions is beginning to increase again too. It presents companies with the opportunity to generate brand awareness to potential customers that they might not be able to reach using other promotional methods.
Exhibitions by nature are specific to every industry, for example the Ideal Home Show is specific to home design The benefit of this is that the clientele that are attracted to specific events will predominantly be the businesses key demographic and therefore it gives the businesses exhibiting the chance to get noticed by them and promote their key values.
On the flip side, trade shows are a way for companies can encourage and develop current relationships. Exhibitions give the opportunity for buyers to relay positive criticism, they also obtain the assurance that the product that they’ve bought are still promoting their products and services and looking to encourage further brand awareness.
For a number of industries, exhibitions can be on a regional, national or international level providing businesses and brands the chance to exclusively target niches established on geographic positioning or the mass market. The benefit this offers is that the promotional message conveyed to its target market can be tailored appropriately in order to it produces the greatest possible interest.
Exhibitions are just one of the very seldom advertising techniques that allow for two-way communication between current or potential buyers with the businesses that they may contemplate buying from. This makes it an exclusive and favourable marketing tool as customer grievances or enquiries can be dealt with in person whilst providing businesses the chance to receive valuable criticism from previous and present customers. Additionally, are you able to think of any other promotional methods that have the versatility to potentially appeal to all five senses? The advantage that this brings is that exhibitors can use just about any advertising technique that they consider pertinent to generate exposure for their brand. Finally Exhibitions are a great means for businesses to showcase their existing, new and imminent product lines. This works well as it has the possibility to recover a good that is in the maturity phase of the product life cycle or whet the appetite of those at the fair, which will hopefully generate in an influx of transactions and greater of press coverage.
In relation to demonstrating the products and services, it offers the management the opportunity to walk around the exhibition themselves and inspect what the competition is doing and offer ideas on how they can improve what they are offering.
With this said how do companies differentiate themselves from competitors? There’s a number of means that can be used in order to entice the masses, which is the first step to generate leads and ultimately encourage sales.
Visibility can be vital in a heavily congested arena or outdoor show. Having a stand adjacent to the entrance, near the food and drinks or toilets can all persuade more people to visit a business’s stand.
However, these ideal locations are sold at a premium price or are typically the first to be snapped up. In the event that this transpires, there is a large number of exhibition stands and pop up gazebos easily available to buy and many are able to be customised with a brand name, logo or catchphrase which can be recognised immediately and get interest.
Free or heavily discounted merchandise are alternative means to generate awareness to a business’s display. Fliers are common and some visitors will be expecting to be able to take away information so they can to make an informed decision at afterwards. To differentiate from competition, alternative free gifts such as stress balls can be bought at low cost and distributed. The benefit of this is that the visitor leaves with a branded promotional gift that is a prompt to them of a company’s presence. Some businesses seek for different ways to differentiate themselves with the gifts give out to people in order to grasp their loyalty.
Trade Shows can be a excellent way for businesses to generate business and reinforce existing relationships with consumers, and if there is an exhibition for your business area, then you should genuinely think about the benefits of incorporating the price and resources into your advertising budget.