NOT everyone realizes it but attending expos as an exhibitor is hugely important to a business’s marketing mix, whether they’re a multimillion-dollar corporation or a small business just trying to get their foot in the door.
So, why are Expos so important?
Visitor Attendance
Attending shows that have a high amount of visitor attendance gives you a large pool of potential leads, especially as they relate to the other items on this list – leads are important for everything from research to networking, brand expansion, sales negotiations and, of course, just general end-user sales.
Research
Attending an Expo is one of the best ways for businesses and organizations to stay ahead of their competition. Expos are often the place that companies use as a testing ground for new products, processes, ideas and strategies.
Doing market surveillance on the competition allows a company to see what their competition might be launching or focusing on in the coming months or even over the next year.
Training
Expos and other similar events like trade shows, also give organizations and businesses a way to train their people. An Expo is a great place to assemble a learning environment – both for the benefit of the employees to educate customers. Many Expos and trade shows also offer learning environments and trainings of their own, put together.
Education
One of the biggest reasons why Expos are important is that they give you and your employees the gift of time. If an attendee approaches your booth, you have about three seconds to capture their attention, but once you’ve done so, you have the unique opportunity educate them in a way that an ad or email blast just isn’t going to do.
For one, your target audience is right in front of you. You can now introduce them to your product and show them your company’s unique value proposition – that is, what makes your company different and why the attendee should do business with you.
For two, many people forget that, when it comes to Expos, “education” is a two-way street. Even as you’re educating the attendee on your product and why it can solve or alleviate their business needs, they’re educating you on what those business needs are – valuable information that you can use to help shape how your company’s products progress in the future.
Return On Investment
When it comes to spending money on marketing, or having to justify your marketing budget to management, learning how to increase your ROI is everything. Unfortunately, many marketing tactics these days are still a gamble, and no one wants to waste money on something that isn’t going to earn money.
In a sea of inconsistent platforms and cyclical campaigns, event marketing provides a little more reassurance to companies that they’ll get at least some of the return on investment that they so desperately need.
Branded events and Expos are important because they have a huge influence on consumers’ intent to purchase goods: according to a survey by Statista, 74% of responders said they were more likely to purchase products that had been promoted at an Expo or trade show.
Brand expansion
Businesses are always looking for ways to grow their brand and build brand awareness with their customers. This is one of the reasons why trade Expos are important – they give companies a way to get their brand in front of new or existing customers, no matter whether they come to the show as an attendee or an exhibitor.
One of the best ways to help Expo visitors connect with your brand is booth design: your booth setup will decide how customers view your booth – will they swarm in because they recognize your product easily and know who you are, or pass you by because they can’t connect the booth with the image of the brand they have in their head?
Networking
One of the other reasons why Expos are important for businesses is that it gives them networking opportunities. Even if you get nothing else out of the show, you can spend time with others in your industry and share experiences and expertise.
Establishing rapport
When it comes to marketing, you’re always fighting against the competition. However, business-to-business (B2B) marketing narrows the field even further: at that level, it can be hard to even be part of the competition.
Expos are important because attending gives you an opportunity to get on a new customer’s radar as a product or company that they need to watch. Suddenly, you’re not spam anymore – you’re someone to watch and interact with.
Expos are great for networking, and it’s much easier to make a connection with someone, whether they’re a fellow exhibitor or an attendee, at an Expo than it is anywhere else. Your customers can put a face to the name – they’re not just dealing with a voice on a phone anymore, but a real person.
Sales/Lead Generation
Expos are important because they offer you a platform to market to your customers and then sell your product to those exact same customers. Even though marketing is typically a way to direct the customer to your store or website, a good majority of the sales process can be done right there on the Expo floor.
Since the funnel from first look to lead to eventual purchase is much shorter, the initial lead time is much shorter. However, these initial leads and sales will turn into more leads and more sales, meaning that you just need a couple successful sales to get the process going.
Source: Added from Vispronet.com