While trade shows have become a standard in the world of sales and product development, you might still be on the fence about whether this is the right idea for marketing your product. There are a number of reasons that you should use trade shows to exhibit your products. Once you are familiar with these reasons you might wonder why you were hesitant in the first place.
Exhibiting your product at a trade show doesn’t just give you exposure. It gives you exposure to the right people. Trade shows are often industry specific, meaning that you can show your wares off to professionals in your field. These professionals are the right connections for you to be able to sell your product. Further, you may be able to find potential investors because of the targeted nature of trade shows. Remember to bring lots of free promotional materials to give away and grow brand awareness.
Meet the Competition
In addition to meeting new potential customers and allies, you can also meet your competitors. You can see what products they are debuting and developing. See what your competitors are doing and this will give you new ideas about how to improve your products, as well as any markets that you may wish to move into.
Trade shows offer you the opportunity to have a captive audience for your products. At a trade show you won’t be cold selling. You’ll be selling to customers that are already interested in your market. Even if you aren’t able to close deals you will be able to generate a number of leads coming out of the trade show.
When you debut your products at a trade show you are able to get instant feedback. Potential customers will volunteer information to you regarding what they do and do not like about your new product. This is a golden opportunity to ask probing questions regarding what customers think. No amount of marketing research can substitute for the visceral and immediate reaction of people encountering your product for the first time.
When you exhibit at a trade show you can see what the broader trends in your industry are. When you see what other people in the industry are doing you not only see what your competitors are up to. You also get to see what direction the industry is going in. Armed with this knowledge you can get a firmer sense of what your place within the industry is. This is another important part of researching your market.
Trade shows are a cost-effective way for you to get the word out. There is a cost associated with attending and setting up at a trade show. Consider, however, that there are very few places where you can present your product to such a wide audience in such a short period of time. Every person who shows up at your booth is a potential customer.
Choosing to Exhibit
Now that you are acquainted with the reasons for exhibiting your products, you might wonder why you haven’t attended a trade show thus far. While there is a cost associated with showing off your goods at a trade show, there are a number of benefits that you cannot obtain through other means. Make sure to figure the cost of a trade show into your annual budget to maximize industry exposure.