Advantages and disadvantages of trade shows and exhibitions
Consider the advantages and disadvantages of taking stand space at a trade show or exhibition, such as networking and generating leads, versus costs and high competition.
Exhibiting at trade shows can bring benefits to your business. You can meet directly with potential customers and generate sales leads. However, success is not guaranteed and there are costs involved. Consider the pros and cons before you decide to invest your time and money.
Advantages of exhibiting at trade shows
The benefits of exhibiting include:
Raise awareness
Exhibiting at industry events is a good way to raise your profile and generate brand awareness. As well as taking a stand at an event, there are usually other advertising and sponsorship opportunities. These opportunities can include branded goody bags, branded seating or even sponsoring the event itself.
Meet your target market in person
Meeting face-to-face with potential customers is a great way to start building relationships.
Networking
Trade shows are a great way to meet potential new customers, suppliers and to learn more about your competitors.
Launch new product
Trade shows are a good place to introduce a new product or service. Being able to explain your offering in person and answer questions is ideal if your product is innovative.
Generate digital content
Trade shows can offer great content for your digital marketing. Share posts about your stand and experiences. Use live video to boost social media engagement. Run competitions and prize draws at your stand to create more PR opportunities.
Build your database
Meeting with potential customers at an exhibition helps you to start building your marketing lists and generate qualified sales leads.
Disadvantages of exhibiting at trade shows
Some of the downsides of taking a stand at an exhibition include:
Costs
Costs include; stand space, stand design and build, travel and accommodation for staff.
Staff training
You may need to invest in staff training about your products and services.
Competition
It is likely your competitors will also be exhibiting at the event. You'll need to stand out to get the attention of potential customers.
Results aren't guaranteed
Despite the investment in exhibiting, you are not guaranteed any sales leads.
Potential low turnouts
Without big name speakers or the right publicity, trade shows may not have enough delegates to make your presence worthwhile. Do your research before choosing to exhibit at a particular event. See choose the right trade fair.