As an exhibition organizer we at many times hear a question why to participate in a trade show or exhibition?, and spending around $300 - $1000 per Sq. meter. Although it depends on an individual show profile whether to invest in participation or not but there is also an general argument to this topic which can really motivate companies to source and invest in correct exhibition. And my choice of word "Invest" is purely intentional because marketing expense isn't really expense but the investment, that is why nowadays companies tend to calculate ROI (Return On Investment) before carrying out any marketing activity.
Following are few significant reasons , although significance of each reason is subjected to an individual company in accordance with their strategy, corporate value and objectives.
1-Solid Business Development
With the course of time , and influence of technology on business companies tend to do more of online business development through means like emails, phone. social media etc. Exhibition can help you develop your business by meeting with your potential clients. The term "Solid" which I have used in heading is due to the reason of authenticity of leads you get while being in an exhibition because you can really know which are the rights ones and should be pursued on the priority.
2-Eye to eye with your potential and existing customers
Participating exhibition always help you to understand problems and concerns of your potential and existing customers. Sometimes your sales agent and regional partners don't tend to understand and communicate the concerns of customers and that could result in bad user experience which can cost you of losing business. It is very important that customer should know and have trusted relationship with the company itself. In the case of potential customers it helps you understand his needs in the better way so that you can offer the relevant solutions and win over the business.
3-Interaction with industry peers
With the passage of time, as customized solutions are being offered more and more. Companies have developed USP ( Unique Selling Proposition) also every company tends to specialize in few things especially in service sectors like in IT industry now the concept of API is becoming very common so that you can integrate solutions to enhance user experience. Interactions with in the industry depends solely on the business model of an individual industry. Still lots of learning and partnering can be done through the trade shows and exhibitions. Many times companies are looking for regional sale agencies and partners to penetrate in the regional market effectively. Also speakers sessions in the exhibitions can be attended to learn the best practices.4-Building a brand image
Renting space isn't just it, companies invest million of dollars in building booth and promotional materials, to create brand image, also activities like sampling and testing are being organized to enhance user experience and to provide the customers real picture of what your brand is all about? and whats values does it stand for. Exhibition Organizers offer sponsorship, to give effective brand image so that participants can exploit all means to develop business and grow. And believe me every exhibition organizer is concerned about the effective benefits of its exhibitors through the platform because this is for the mutual growth, and when we sit on the chair of organizer we have high pressures and high concerns on business deal being made through our platform, that is why companies like Messe Frankfurt and DMG have developed their own EMS, Exhibition Management System.
5-Tuning your staff with customers and industry
Last but not least it is also about training your staff and tuning them with needs of employers so that they must know who are the customers? and what value they want? Altering your processes according the customer needs. Trade shows also helps training and updating your humans resource according to industry standards and on changes which are occurring in the industry. Also that they can study the values and offerings of their customer.
I hope above points can help you establish the importance of trade shows and exhibition industry, these are generals ideas, specific industry significance may differ but what can not be denied is significance of trade shows and exhibitions itself.
Please feel free to give reviews in comments.
