Companies opt for various methods to promote their product and to reach their audience. In the present era, with the increase in the competition and with the increase in the thousands of available options for a single product.
It becomes necessary for both big and small companies to adopt various marketing methods to promote their business. ‘
There are various marketing methods such as traditional marketing by advertising on television and newspaper, social media marketing, etc. out of these marketing methods; one famous marketing method is trade show marketing.
Trade show marketing method is one of the best methods to reach customers and to showcase your products and services by demonstrating them.
In this article, you will learn about what is a trade show and what are the advantages of marketing through the trade show.
What is a trade show?
A trade show is a kind of exhibition where different companies from the same industry display and demonstrate their new products and services. These are organized for the members of companies, professional related to that particular field, and press people. Usually, the general public is not allowed to enter in the trade show.
Organized in convention centers of cities or hotels, etc. depending on the size of the trade show, usually last for several days and is organized on an annual basis.
The main purpose of organizing a trade show is to connect a manufacturer with the intermediates such as wholesalers, retailers, etc. sometimes trade shows are also an opportunity to connect with the end-users of the product. Trade shows also referred to as trade fair, trade exhibition, or trade exposition.
How to participate in a trade show?
Trade shows are organized by the trade association of a particular industry every year. Different industries have different associations which organize these trade shows for an industry. There can be more than one trade show association of an industry which organize trade shows all around the world.
The information about the upcoming trade shows can be found in magazines or newsletters of that particular industry, which are available at the newspaper stands or public libraries.
Otherwise, you can go through the Tradeshow week data book to get information about these trade shows, or the same information can be found on the relevant websites online.
It is important to know about these well in advance if you want to participate in them. These trade shows are planned at least a year before the actual commencement, and you can reserve your seat in advance to get the central place. You are required to pay a certain fee to get a booth in a trade show.
The price you pay for the booth will also depend on the location of the booth. A central location can be far more expensive than the corner location as there will be a high number of visitors can be expected in a centrally located booth.
In addition to this, you will be provided with information about the theme of the trade show so that you can make preparations accordingly. If you have reserved booth seat well in advance in a trade show, then you can start promoting it your potential customers through an email campaign or advertising.
Examples of 3 famous trade shows of the world:
There are different trade shows organized depending on the industry. Thousands of companies participate in these trade shows every year, and these trade shows get several visitors in even larger number.
#1. Education trade shows
The education field is growing at a fast pace, and the professionals need to update themselves with the changes in the field to keep up with the pace of the field. In this section, you will learn about a few popular education trade shows.
#1. SXSWedu Expo:
SXSWedu Expo is one of the most popular education conferences. A great number of exhibitors participate in this trade show and is attended by a great number of people who wants to learn and network with the right people.
After the SXSWedu Expo, another popular education conference is learning where exhibitors share knowledge about the various educational technologies and teaching strategies. In the learning trade show conference, there are more than 200 sessions scheduled every year.
IN Summit trade show more than 1000 exhibitors participate and share knowledge about the technology and methods to improve the schools and college to make learning better.
#2. Food and Restaurant Trade shows
If you are foody, then you would never want to miss these trade shows at any cost. These trade shows are the best opportunity not only to try new food but also to showcase your new food items and skills.
#1. National Restaurant Association:
National Restaurant Association is one of the biggest food trade show of the food industry. It attracts exhibitors from more than 100 countries and more than 45,000 food lovers.
The restaurants can showcase their food, services, and innovative food dishes in the trade show, and attendees can learn about these food items and can taste and smell and get an insight into the food offered.
#2. IFT Food Expo:
IFT food expo is another international food trade show which brings together hundreds of restaurants to exhibit their foods in the trade show. Experts also hold workshops, and people who want o learn about the latest trends in the food industry can attend these workshops.
In addition to this, they also share information and innovative ideas about food and food industry with one another.
#3. Agriculture Trade Shows
Another field where people participate in a large number and is growing at a fast pace is agriculture. There are many agricultural trade shows held all around the world and participated in a great number of agriculture enthusiasts.
The Farmfest trade shows are one of the largest agriculture trade shows of the United States of America. A great number of agriculture machine manufacturers, agriculture service provider, and buyers participate in this trade show.
There are various seminars and workshops organized to teach about the latest innovation in the industry.
#2. World Ag Expo:
It is impossible that an agriculture enthusiast has not heard about this agriculture Expo. More than 1600 exhibitioners participate in this expo and showcase new agriculture equipment, agriculture technologies, and chemicals, etc.
One best thing about this trade show is that farmers can learn about the new agriculture technology and new agriculture techniques by attending seminars and workshops free of cost.
These are a few examples of popular trade shows in a few fields. Different associations organize different trade shows to share knowledge and to network with the people related to that particular field. You can learn about the upcoming trade shows by searching about them online.
You can enhance your business by learning about the new advancement in the field.
Advantages of Participating in a Trade show
#1. A great place to launch a new product:
Trade shows attract professionals and people who are genuinely interested in the products and services. Therefore, it can be used as a great opportunity to launch a new product.
As it immediately gives a boost to the sales of the product and you can also make more and more people aware about the features and quality of products by providing them a demonstration. You can arrange a grand launch of a new product, cost-effectively.
#2. Networking with like-minded people:
Different companies from the same industry and people who have a genuine interest in the field get together in a trade show. Therefore, in a trade show, people can interact with the people who have similar interest and can also learn about the new methods and techniques to improve their business style.
#3. Meet you potential customers in-person:
You don’t meet your potential customers when you market your products and services through other marketing methods, but through trade show marketing you get the chance to meet potential customers in person and to share knowledge with them and to make an ever-lasting impression on them by providing them first-class services.
#4. A method of Advertising:
A trade show is a great method of advertising. In a trade show, you set up a booth with your company’s name and display the products and provide a demonstration of the products.
These techniques put an impression on the minds of people who visits your booth and hence makes it an effective advertising platform. In addition to this, giveaways, distribution of food items are also an excellent method of advertising.
#5. Direct Sales Opportunities:
Trade shows attract people who have a keen interest in the field and want to gather knowledge and products to improve their businesses.
If they like your services and products and also get them on discount prices, then they will not think twice before making a purchase.
Therefore, trade shows provide opportunities to make direct sales.
#6. Build your marketing list:
At a trade show, you meet a potential customer who at the moment, don’t make a purchase but have shown a keen interest in the products offered by your company. You can make a list of all the visitors at your booth and contact them later to convert them into buying your products by offering them lucrative prices.
#7. Learn about competitors:
In trade shows, companies of an industry participate and showcase their products and services. Therefore, tradeshows are a great place to learn about the strategies of your competitors and plan your strategies accordingly to give them competition in the future.
Disadvantages of Trade shows
Getting a booth space in a trade show is very expensive. You will have to pay a huge amount of fee to get a central location. In addition to this, preparing marketing material, decorating stall, and providing giveaway gifts to the visitors also cost a lot.
Overall, participating in a trade show is an expensive affair.
#2. NO guaranteed Return on Investment:
No one can ever predict that participation in a trade show will be a hit or not. If you fail to grab the attention of potential customers, then all your efforts and investment will be of no use.
There is a great probability that your competitors will also be present in the trade show, which increases the possibility that they might learn about your strategies and can use them against you in the future.