This is an important question to consider for all businesses. Why take part in exhibitions and trade fairs? Are they of any benefit to sales or is it all just about an image?
Studies show that consumers value exhibitions highly for a number of reasons:
- The opportunity for personal contact
- Live demonstrations of products in action
- Psychological comfort (the so-called “neutral territory” effect)
- The opportunity to study the market in a short time and compare the products on offer
The conclusion is clear: when planning participation in a trade fair, we should opt for a personal approach and dialogue with the client. All available means and resources need to focused on achieving this. The visual component is important, as well as having welcoming and competent staff at your stand, and using promotional materials to complete the picture, but most important of all is to determine what your company’s aim at a particular expo will be.
Perhaps your aim is to increase your company’s brand recognition? Or to present a new product? Or to attract new clients? When you make a clear choice about the aim of your participation, then you will be able to gain maximum benefit from the upcoming event.
If you are still having doubts about the usefulness of participating in trade fairs, let’s take a look at some statistics:
- The costs of closing a deal at a meeting during an exhibition are on average 40% lower than without participating
- A total of 90% of company decision-makers see expos as the best source of information when making purchases
- A product demonstration at an exhibition has 6 times more influence on sales than other means of promotion
- Around 95% of all executives meet with their clients at trade fairs
What this data tells us is that it is foolish to miss the opportunity to present yourself at an exhibition. You need to identify the aim of your stand, develop a strategy to promote your product, prepare some impressive visual content, choose a friendly team to work on the stand, present your product and… be ready for new questions about the product and new clients!
Be prepared: you need to wow your potential clients and make an impression on them, even if they still haven’t managed to visit your stand. One way of doing this is by installing a projection dome with branded advertising.
But all these efforts will be repaid a hundredfold and will see your client base multiply. Use interaction with clients at exhibitions to create customer interest groups, the members of which may be separated by distance, but are united by their lifestyle and values.