It’s possible, based on feedback from a client and trade show organizer at a large industry show. Even at smaller shows, you may be able to condense two-to-three months of new business efforts into just two-to-three days.
The key takeaway is having a booth at a trade show which allows your sales and business development teams to meet with an exponentially greater number of prospective clients beyond a one-on-one email, call and meet effort.
As a marketing communications firm that has been in the trade show game for more than four decades and has planned, coordinated and attended thousands of shows across multiple industries, we’ve seen and heard it all. In this issue of Fostering Ideas, we’ll address a few of the reasons why companies are reluctant to add trade shows to their marketing mix.
ASSUMPTION 1: Trade shows are a significant investment. I’m not sure if it’s worth the time and money.
Estimate the cost for three-to-four months of travel for your sales team including flights, gas, hotel rooms, car rentals and all other costs that are necessary to visit the number of qualified folks you will meet at the trade show. After calculating these numbers, compare that to the total cost for your company to exhibit, including all the above costs. This is one way to see if the trade show is worth exhibiting. More clients find exhibiting at the right trade show a win, both in cost savings and new business wins.
ASSUMPTION 2: Now that we are better equipped to meet prospects and clients virtually, in-person meetings aren’t as important.
The overwhelming post-pandemic response from many trade show exhibitors and attendees showed that there is no substitute for an in-person meeting. A customer shared the following story:
A company has a client who only communicated by email, video chat and phone. Throughout this process, there was miscommunication and it seemed as though they were not on the same page. The two parties met at a trade show and by finally communicating in person, they were able to get on the same page for the current job and develop a relationship that spawned multimillion-dollar projects in future dealings.
ASSUMPTION 3: My company is interested in exhibiting, but we feel we don’t have the marketing budget to make an impact.
Strategic booth placement (see December’s Fostering Ideas article), along with cost-effective ways to market your company’s expertise and products, will give you a great opportunity in driving quality traffic to your booth. One such opportunity to drive traffic and showcase technical expertise is to take advantage of thought leadership opportunities at shows and conferences. These opportunities include posters, roundtables, white papers and presentations. You may participate in many of these opportunities at no cost.
How it works:
- The usual process includes submitting a topic and a presentation or paper you’d like to discuss for consideration.
- If selected, you’ll have the chance to share your knowledge with an engaged group of conference attendees.
- Participating in such efforts also drives traffic to your booth where your new business team will be waiting to answer any follow-up questions.
Over the years, we’ve heard many success stories of new client relationships formed after a client speaks at a conference or participates in thought leadership efforts that effectively showcased the value of working with a company. Trade show participation also has proven to be a significant new business tool for Foster Marketing’s growing company as well.
ASSUMPTION 4: We’ve been at the same show for more than five years, and although it was great for us at the beginning, we aren’t seeing the benefits we saw in past years.
In general, we don’t advise clients to leave a trade show altogether that has been fruitful for a company in past years. Instead, an option is to decrease your presence and spend at this show, while spending to try a new show in the same or a new industry.
Why stay?
- Most shows are booked by a priority point system, and once your company stops exhibiting at that particular show, the priority point equity that was built up from those years will be lost, causing you to lose priority in choosing a booth space location.
- Although show attendance may slow in some years, you will want the option to renew once industry interest refocuses on this arena.
- It only takes one new prospect to make a huge impact in your company’s bottom line. Are you willing to pass on such an opportunity
We hope we’ve helped you debunk these common trade show assumptions and ease your mind about diving into trade show and event marketing. Contact Foster Marketing today for assistance stepping into trade show marketing. And, follow us on LinkedIn to see the many industry shows and events we attend each year. We have the scoop on most major and minor shows and conferences in oil and gas, energy, solar, manufacturing, chemical, drilling and more. See you on the show floor! Like you, we’ll be ready to meet our next future customer.