Archive for May, 2014

What No One Ever Told You About a Trade Show

Now that you’re organizing your exhibit for your trade show or have attended a show or two, you’ve likely learned a few tricks of the trade. You may have noticed that you need more marketing materials or have to make a better effort to interact with customers. You may have also noticed that your trade show booth needs to be larger or smaller. The truth of the matter is that there are certain things that you probably wish you knew before your first trade show.

Here are a few things that no one ever told you about preparing for such a large marketing event.

Trade Shows Are Expensive

Even though it costs a lot to set up a trade show exhibit and attend the event, it’s a great marketing tool. For instance, if you’re going to a trade show for three or four days, you could end up spending about $5,000! However, for this price, you’ll be setting up a booth to greet customers, displaying a banner, giving out postcards and making travel accommodations. These trade shows will also let you know whether the marketing materials are effective, and you can decide the changes you want to make before your next trade show.

Take Advice From Buyers

Many of the buyers who attend trade shows are professional retail sellers. They know what works and what doesn’t when it comes to products that sell. If you have the chance to talk to buyers, make sure you’re open to their advice and constructive criticism. Don’t take the feedback personally and realize that you’re getting professional advice when you’re getting information on how to make your product more appealing to customers. Take advice from the people who will become clients and use this info to improve for your next trade show.

Several Types of Attendees Will Be There

Buyers aren’t the only ones coming to trade shows. You’ll also encounter product developers and business consultants who will be checking out your trade show exhibit. If you’re looking for national distribution, you’ll need to use the trade show to find a rep who can help to move your business forward. Get connected with people who can help promote and work out a favorable arrangement (shared profits, commission) to ensure that everyone is properly compensated.

Networking Is Priority

Agents and buyers are willing to assist you in becoming a more successful company. Use the event to connect with like-minded people who are willing to communicate with you for free. You may be able to trade goods and services or form partnerships that will help to move both of your businesses forward.

Don’t Waste Time With Product Development

Product development is very time-consuming. Every single product you launch isn’t going to be a hit, so make sure you’re in it for the long haul. There are business owners who have been working on one or two products for a decade just to keep their companies from going in the red. While you do want to make sure that the products and services you offer are both appealing and practical, choose items that are already selling well, and add your company’s twist to them. For instance, if you sell tech accessories like cell phone covers, develop your covers so that the material is more durable than competitive brands.

Trade Shows are a Marathon, Not a Sprint

Chances are you’re not going to go home with millions of dollars in sales after your first trade show exhibit. Many companies attend the same trade show between three and five times before leaving with significant profits. Make sure that you’re not spending too much on production so that attending trade shows won’t put you in debt. In many cases, slow and steady wins the race when it comes to trade show marketing.

Keep these suggestions in mind when you’re preparing for an upcoming trade show. Meet with your team to find ways that your company can be more appealing to consumers, and device effective strategies that will make your trade show booth unforgettable.