Benefits of Trade Show Marketing
For companies who are considering attending a trade shows or exhibition the upfront investment can make the decision a tough one. We believe the following benefits a company should consider when deciding their participation:
BENEFITS OF TRADE SHOWS
Lower Cost Per Sale – A trade show provides multiple buyers to interact with the companies, and in some cases exposure to potential clients is in the thousands. This reduces the cost per sale instead of approaching buyers one by one.
Publicity Of The Goods – For the companies that cannot or choose not to invest large sums of money in mass advertising such as commercials, billboards, and national magazine ads. Trade shows enable companies to get their products and/or services in front of targeted buyers at a single place.
Time Saving – Lots of valuable time is saved with trade shows, especially when compared with setting individual appointments with suppliers. Some established businesses will conduct multiple meetings per day over the course of several days, conducting the same number of meetings in a week that would otherwise have taken place over the span of several months.
Access – Trade shows also present opportunities for established and new business alike to bring their product to market. Trade shows provide access to targeted consumers both B2B and B2C in a way few other marketing strategies can.
Testing a new product in Market – Trade shows offer a great platform to introduce new goods to the market, especially those which are still testing sales potential. Here they receive instant feedback from the consumers.
Gathering Market knowledge on Industry
Through trade shows, companies can gather market intelligence on their industry. This will give them opportunities to learn about the competition and the market in general. By observing the booths of competitors and examining their products, a company can obtain a better understanding of their position in the market and how to compete against in their industry with a competitive advantage.