Does a trade show no longer work well on marketing?
What is your thought on the effect of trade show? Some opinions reflected that trade show of nowadays no longer worked well on marketing when compared it to other marketing channels. But the fact might be another case if we looked at the following findings released by a consulting company in the US.
Low cost
According to the research, trade show is the most effective way to help exhibitors reach prospective customers with a low cost. The research revealed that exhibitor generally spends $177 on finding each prospective customer at a trade show, while if using telemarketing, their company needs to pay a higher rate, about $295 on finding each customer.
Less workload
Connecting with customers at a trade show can also help exhibitors to reduce workloads after the trade show. During follow-up process where the exhibitor wants to contact the potential customers again, the company normally just needs to conduct 0.8 telephone calls in average to make a successful deal. On the other hand, when it comes to the common telemarketing method, the successful deal requires 3.7 telephone calls in average. Another research finding from McGraw Hill Education also showed that orders from trade show visitors, 54% of orders no longer required the company’s sale staff to do such follow up jobs, for example, visiting customers in person.
More potential customers
According to the research, only 12% of visitors might receive the calls from the sales staff of the company in 12 months prior to the trade show. In other word, to an exhibitor, 88% of visitors of the trade show are new potential customers. The statistic was made on a basis of the average rate for a random booth visit. Moreover, trade show can bring more quality visitors together. 49% of visitors are planning to purchase products or services, which are just from exhibitors.
Improve competition edge
Trade show can also provide your company with a good chance to stand out among peers. During the trade show period, your company can show off your competition edge through various methods. Well trained staff is essential to secure the trade show effect. In addition, combing innovative promotion events before and during the trade show, and using eyes-catchy booth design, you can quickly increase exposure of your company brand, products, and service. Trade show is a platform for an open and fair competition. Your company can display the latest products or technology to compete with other exhibitors and your company might finally obtain orders if your competition edge is convincing.
Save time
You can save time on customers finding. Potential customers reached at a trade show in three days are more than the customers, who were contacted by your company sales staff in three months through other ways. Face-to-face communication is still a good way to establish a friendly relationship with potential customers.
Good customer experience
To maintain a friendly customer relationship, your company can invite visitors to have dinner. Try to impress visitors with courtesy services during the trade show. Trade show is also a good stage for your company to find out customer satisfaction on your new products. So your company should grasp this chance to invite customers to use trial products on site. Good customer experience is beneficial for a successful deal.
Better understand your competitors
You can also obtain better understanding of your competitors through attending a trade show. This is one of the most significant benefits that the trade show can provide you. You can find a lot of intelligence about product, price, marketing strategy, etc. by observation of the other exhibitors on the spot. In addition, many trade shows can draw high attention of media. Therefore, you can catch this opportunity to expose your company. Try to invite media to visit your booth and accept their interviews.
Good for market research
If your company is planning to develop or launch a new product, a trade show will be good for you to conduct a market research. During the trade show period, you can take a visitor survey to find out their thoughts on the product price and features, as well as their requirements of quality.
Source: Shanghai Expo net
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