16 May 4 Reasons Why B2B Businesses Should Attend Trade Shows
Despite the decline of offline marketing channels, trade shows remain highly significant for B2B sales. At one event, you can accomplish more things than you could in possibly two months. Such as, gaining new leads, finding new partners, nourishing existing relationships, and most especially, making sales. Attending trade shows can bring in a huge ROI if done the right way.
When it comes to new businesses, including trade shows in your marketing budget could be essential to really making it. It always good to designate marketing expenses to the more familiar ones, like social media or local advertising. However, with the chance of trade shows being the highest ROI from your marketing tools, they should surely be considered.
For those starting out and new to the trade show biz, here are some tips on how a trade show investment can get you a headstart on growing your business.
It’s not a secret that people come with a purpose at trade shows. From a demand side to a supplier side, there are people there to learn, discover, and shop. Trade shows are the perfect place to reach a chunk of your target market in just one day. However, you do need to choose the right ones.
Depending on what type of business you have, find out the types of events that are specified for your line of products, or services. Be strategic when choosing what ones to attend. Trade shows can be costly, that’s why it is important to plan ahead.
Especially for a new business, trade shows help you grow just by getting your name out there. If they become a usual cost in your annual budget, then it can help build your reputation. A lot of events have guest speakers. By signing up, your business can be in the spotlight of a captive audience. Not only that but it shows off your expertise and builds trust with potential customers by showing off your professional knowledge. Public speaking may not be your favorite but the positive outcome that can come from it may encourage you to do it again.
As briefly mentioned earlier, not only are there buyers at trade shows, but there are suppliers as well. By attending an event, it will help you discover possible suppliers as well.
With that said, don’t restrict yourself to focusing on just generating leads and sales. There could be good opportunities awaiting on the supplier side too. Go out and network, don’t just stay at your booth. It’s a good idea if you notice any suppliers there that sell what you already use for your business. Get quotes and compare them to your existing prices. Not only does it help you discover the best deals, but also keep up with new innovative techniques. A lot of times trade shows are the first place new technology and other items are introduced to the market.
Gaining New Leads
Providing the best information that customers are searching for is vital. Today a lot of people are going digital to fill that gap. For example, you can set up kiosks where customers can search for the information they’re looking for, and/or have several ipads where people can fill out their information. Once you find people who are really interested in your service or product, set up a face-to-face appointment where you can really find out what their needs are and how you can help.
Don’t forget to let people know ahead of time that you will be at the event via social media, and email as well. It’s important for people who are interested in your company to be able to keep up with you, and show them that you are adamant in enhancing your business.
Strengthening SEO Practices
Speaking of including online marketing into your trade show budget, this can also help with increasing your SEO ranking. A good way to do this is to look at the events main website and see if they have a list of vendors. If they do make sure you are on there. A lot of people check the website to see who will be attending and get more information about certain companies ahead of time. Usually they have a link to the business as well, which will help bring more people to your website. Event planners may also send out emails with information on vendors so it is good to look into that also.
According to Pratik Dholakiya, “having an accurate NAP listing with a business description will also help your local SEO, as events and trade shows typically are geographically localized phenomena. Getting this piece spot-on offers a huge boost to the rest of your B2B marketing strategy.” Overall attending trade shows should be something to consider, especially when starting out in the B2B industry.