Every year there are more than 13,000 trade shows across the country and even more across the world. And with such positive benefits for so many businesses, it’s really no wonder why.
While they play a big role for a lot of industries, some business owners may still wonder what is a trade show? If you’ve never been a part of one before or attended this kind of event, they can seem like a mystery. But we’ve created a guide with the most important facts you need to know about trade shows.
This guide will give you everything you need to know to decide if this kind of event is right for your business or not (we’re betting on yes!).
1. Unique Event
Sometimes those new to these kinds of events get trade shows confused with other types of business networking events but there’s a distinct difference that’s helpful to know upfront.
When thinking about trade show vs conference or trade show vs convention, remember that a trade show has more of a presentation element to it.
These events are less about seminars and educational resources for the industry and more about seeing what’s new and exciting. It’s a chance to put what your company is about on display for others in the industry and potential customers.
2. Introduce Products
The term trade show brings a distinct image to the minds of those who are fairly familiar. That image has a lot to do with the introduction of new products.
Many industries have an annual trade show where all of the major players introduce their latest releases. It’s a chance to test the market and see what’s interesting, how the item compares to others, and get opinions for improvements from potential customers.
A trade show is a great place to set a new release out into the world!
3. Educational Opportunities
While we said that trade shows are less about education than a conference or a convention, there is still room for a little bit of it at these events.
Many companies use a trade show as a chance to help get additional information about their company out to their target audience. That could be about a specific service, a change in policies or products, or a shift in focus for the company. These shows offer the chance for those interested to communicate and ask questions to get a full understanding.
4. Find a New Audience
A major of the trade show benefits is the opportunity to reach new target audience members, which is always a goal of every business.
It’s easy to find these new potential customers because the trade show is designed to appeal to those who are interested in your industry. So you already have the advantage of being something they’re interested in but they just haven’t found you yet!
5. Creative Marketing
Anyone who has ever worked in any kind of business, no matter the level, knows how important marketing is to success. It’s the only way to draw in more business and continually grow.
Taking your business to a trade show is a great way to get the creative marketing juices flowing and try out new approaches on a test audience. You’ll have to create a whole experience to draw people to your booth and pique their interest in a unique way.
Check out Rockway Exhibits for great ideas and options to create that exciting booth experience!
6. Cost-Effective Option
Even though marketing is such an important part of any successful business, it can still be an expensive pill to swallow at times. Trade shows offer a cost-effective option for a profitable marketing opportunity.
Most trade shows simply require an entrance fee upfront to reserve your booth spot and that’s the only expense. Finding the right trade show can help you fit this into any marketing budget.
7. Strengthen Brand Story
All successful companies have one thing in common; they’ve created a strong, recognizable brand story. When people see their brand they know exactly what to expect and who they’re dealing with. A trade show is another opportunity to strengthen that story and share it with even more people.
Just the practice of creating your booth experience and materials is a great way to hone in on your branding and story to make it as strong as possible.
There’s nothing more valuable than a clear, consistent, visible brand story for any company.
8. Industry Networking
It’s no secret that one of the major benefits of trade shows is the increased audience but there can also be some valuable industry networking going on as well.
Bonds between companies in the same industry with different products can be beneficial for all involved if done correctly. A trade show is a great chance to get exposure and begin to develop those relationships that could lead to projects in the future. Taking note of companies whose goals seem to align with yours can really pay off in the long run.
9. Plans are Key
Participating in a trade show doesn’t just automatically result in all of these benefits, unfortunately. It takes a lot of work and preparation to make these events productive and helpful for your business.
Before heading to the show do as much to plan and prepare as possible, think through all scenarios to be ready for whatever comes.
This will help you be able to really enjoy the show and get the most out of it.
All the Answers for What Is a Trade Show
Now that we’ve answered the questions of what is a trade show and how can it benefit a company, it’s time to do a little bit more research to find one that fits your company.
These kinds of events are so popular because they do a lot of heavy lifting for businesses all in one place. They can do market research, find new customers, make partnerships, promote new products, and so much more. The possibilities are truly endless and the potential is exciting!
If you’re interested in more tips and tricks for businesses, check out our other articles!