Trade Shows: An Insight
In contrast to consumer fairs, trade shows are specific to a particular industry. Players from within the same industry receive an opportunity to display their products and services. A few shows are public but most trade shows are open only to the members from the industry and pressmen.
Online trade shows are gaining popularity. Online trade shows grant companies to virtually exhibit their products and services.
ADVANTAGES OF TRADE SHOWS
1) Companies receive the chance to offer their products and services to a large number of potential clients.
2) Tradeshows enable management to keep abreast of the most recent developments within the industry.
3) Moreover, trade shows present companies an opportunity to know about competitors’ products and strategies.
4) Attendees gain an insight to the various offerings from similar companies at a single location.
TRADE SHOW EXPENSES
As a technique for bringing economic development of the cities, city councils hold industry trade shows. The general overheads that participants have to incur are:
1) Rent paid for the display booth, designing of the booth and the construction of the design
2) Communication and system cost
3) Traveling and boarding costs
4) Costs incurred on designing and printing of brochures
5) Miscellaneous costs, such as electricity, cleaning and handling costs
OBJECTIVES TO PARTICIPATE IN TRADE SHOWS
Companies incur large expenses on participating in trade shows and thus have to define its objectives before participation. Industry trade shows are held worldwide and because companies do not have unlimited budget, the companies should be clear as to its goals from participating in a trade show.
1) What is the need to participate - extend existing client relationships, new product launch, getting new leads for potential clients or market positioning of your company?
2) What is the target clientele?
3) What is the precise message to send to your clients?
4) What is the ultimate aim of participating in the tradeshow?
CREATING THE DISPLAY STALL
Once the companies have finalized the trade shows, they need to minutely plan the exhibit booth. To successfully exhibit the products or services on offer, the companies should build the exhibit booth in a well-organized way. One should bear in mind the below to build an efficient exhibit booth:
1) Functional needs, such as seating requirements, book display case or easy to dismantle and re-mantle.
2) Aesthetic requirements
3) Marketing wants like message to be sent forth, brand recall or creating awareness.
4) Last but not the least, what is the budget of the company for the display booth?
TRACKING THE LEADS
It is been noted that among the total leads generated at trade shows, roughly 79% of the leads are not followed, which makes the participation in any trade show worthless. As a follow up of the leads, it is imperative to write response letters that are short and have a persuasive ending to all the probable customers. Moreover, to convert the probable customers to actual customers, a call to the customers should follow the response letters.
Doc. No.:1220-WC-ULT5-jn17
David F. Pinochet is a trade show industry writer. Check out his exhibit rental , pop up booth and truss display