Why is it necessary for startups and small businesses to exhibit at trade shows

Several reasons exist for people who are running one-person shows or even small businesses to believe that exhibiting at a tradeshow is out of their league. These include financial considerations; the fact that large corporations have large marketing departments with large budgets; the fact that a tradeshow booth is not affordable; the fact that they lack the vision to know how to design a booth, transport and assemble one; operate at a tradeshow; and so on.

Everything else is false, with the exception of the financial concerns involved in actually renting space on the expo floor. Throughout this piece, I’ll demonstrate why tradeshows are so significant. It is from my own experience that I am writing this: I have worked on the design of trade show booths, have actually put up trade show displays, and have worked on trade show floors as an exhibitor and as a visitor.

Consider some of the reasons why attending and exhibiting at trade exhibitions is critical for every business owner, regardless of whether or not they are just starting out or operating a small company:

As an entrepreneur operating a small business, it is very difficult to get competitive intelligence, which is information about how you compare to your rivals, how they do things, and what makes them more or less successful than you in certain areas. Never forget to devote some attention to the less successful situations as well, since you’ll want to compile a list of all the errors others have made so that you can avoid making the same mistakes.

Obtaining hands-on competitive information at a trade show is the most straightforward thing you can do while attending. Because you have your competitors right at your fingertips, it really doesn’t get much more hands-on than that, does it? They all appear to be highly confident through their sales presentations and the flashiness of their marketing gimmicks; however, they are in a vulnerable position because they are giving everything they have and are also concerned about *their* competition, which, believe it or not, includes you!

Taking full advantage of this great opportunity The ideal thing to do is to stroll around the trade show in the very beginning-that is, before everyone gets to know each other among the exhibitors-and ask questions, and lots and lots of questions, about everything.

The following are some of the benefits you may get from just walking around the exhibit hall:

This will most likely contain a sackful (literally) of material on suppliers and distributors in your highly focused and distinct sector, the trade press, which you may examine at your leisure from the comfort of your sofa.

Also available are the opportunities to have your name added to mailing lists, to take part in market research, and to gain free memberships to a number of publications.

has the largest selection of promotional products available anywhere. You’ll find more free golf balls and promotional mints than you can shake a stick at.

Discover what your competitors think about the product or service that you are promoting.

Similarly to the previous point, this is something that should be done at the very beginning of a trade show and is most effective in bigger exhibiting halls.

Introduce yourself as someone who is interested in the product or service that you and your rivals are offering. This is an excellent opportunity for you to practice your flirting skills. Make use of your imagination; remember that you have nothing to lose, that you are in command, and that the ball is in your court.

Find out all there is to know about your competitor’s product range. After that, you might inquire about their opinions on your company’s goods and services. Because they have no idea who you really are, they will tell you what they actually think of you. Listening to what your rival has to say about you to prospects is really pretty revealing since you are playing the role of one of their prospects.

That’s competitive research at its most gritty, and the trade show floor is the perfect location to do that kind of study. In studies, it has been shown that firms are more willing to open up and discuss their rivalry during a trade show than in any other context (sure, you could just call, but you will not get the same effect).

If you are still reading this at this time, you are probably asking why, in the name of everything that is sensible, I am talking about spying on your competitors instead of the apparent reason why trade exhibitions exist, which is to promote a product or a service, right? Indeed, according to industry analysts and trade show experts, the primary purpose of these events is to investigate the competition.

Demonstrate your goods or services to those who are well qualified to purchase them. Why? Simply put, since these are the folks who have gone to the trouble of attending the exhibition and are really interested in your line of work, Moreover, you will have the opportunity to meet existing and future consumers and get genuine feedback, as well as a sense of how your product or service is seen, how it is really functioning, and what you can do to make it better, that is, more attractive and beneficial for your customers.

Meet with members of the trade press covering your business. They are always in attendance at such events, and you will almost certainly never have a better opportunity to chat one-on-one with the most senior members of the editorial team.

You will also have an excellent chance to network with distributors, wholesalers, brokers, and others who are involved in your distribution chain.

Also available is the opportunity to sell your goods or services straight on the spot. Simply ensure that you have everything in place that you will need to complete the task.

Plan ahead of time and make room for the possibility of doing substantial business. The vast majority of those who come to your booth will be tire kickers. They’ll take a handful of pistachios, examine your promotional pens (or USB memory drives filled with your marketing multimedia presentations–hint, hint), choose a few printed items from your booth, and then go on to the next booth in line. However, every now and then, you’ll come across a live one. Prepare for a lengthy conversation with this individual by determining how and where you will meet with them. Which location will you choose: the back of the booth, a neighboring conference room, a table in the concession area, or a later meeting in your company’s executive suite? Folks, believe me when I say that a wishy-washy “we’ll get back to you” attitude will result in the transaction being lost. The key is to be prepared, because if they sense that you are not prepared to finish the deal right away, on the spot (even if the trend continues to move away from immediate order writing on trade show floors), they will walk away.

This is the most important part of attending a trade show: building a mailing list to follow up with. This is what has the potential to (and should) provide a return on the significant investment you made by attending the trade show in the first place. You must build your mailing list and actually follow up immediately after the show ends, while your marketing effort is still fresh in people’s minds. Whether you simply collect business cards, write names down on a piece of paper, or use more modern trade show techniques such as scanning people’s tags, you must do so immediately after the show ends.

If you follow up as soon as possible, whether it’s with a phone call or by providing supplementary material and information, you’ll create a great second impression. The way you respond to requests for extra information will demonstrate to prospective customers that you respect their time and deliver excellent customer service.