To Go or Not to Go: Are Tradeshows Right for Your Company?

Exhibit space, booth costs, travel and lodging are just a few of the reasons why you might be questioning heading to that trade show this year. Here are a few reasons why a trade show might be a great place to spend some of your coveted marketing budget.

See and Be Seen

Reaching out to all of your customers can be time consuming. Finding new customers can be costly. Trade shows offer a way to see multiple customers at one time. They also expose your company to potential new customers, even those that may have been too small to target directly. Studies show that, on average, 82 percent of trade show attendees have purchasing influence. And over half of attendees plan to purchase within 12 months.

The Price is Right

With all costs included, companies who exhibit at trade shows will spend an average of $261 per customer interaction. Sounds high if you compare it to a direct mail piece, but what if you compare it to the cost of time spent cold calling and flying to visit all potential new clients? Thirty-nine percent of trade show attendees said their purchase intentions were more favorable after visiting a company's exhibit. Can the same be said about a cold call?

Find Vendors

Exhibitors at most trade shows will include the vendors servicing that industry. This makes trade shows a great place to see technological advances, get competitive pricing or just network with your existing vendor base. Afraid you won't have time to walk the show to see the vendors? Don't worry, they'll find you. Trade shows are as much of a selling opportunity for your vendors as it is for you.

Competitive Intelligence

What easier way to discover what your competitors are doing than to walk into their booth? Your competitors will be showcasing their new products and plans for the world to see. You can get access to sales sheets, media kits and new product launch dates. Of course, you will be sharing this information with the world as well, but at least it will be level playing field. And seeing their plans just might spark new ideas for you.

Just Go

If your budget simply won't allow you to exhibit at a trade show, that doesn't mean you won't benefit from attending. You can walk the show, network, check out the competition and still get some selling done without exhibiting. Many small companies book large hotel suites and host cocktail parties for select buyers. It is not uncommon for the cocktail parties to include mini-presentations for the attendees. Be sure to send invitations for your event well in advance as buyer's calendars book up fast.