Attending trade shows and networking with other businesspeople is a privilege, not a right. Not everyone is able to do it – it costs a lot of money and requires carving a good deal of free time out of one's schedule as well. During tough economic times, trade show spending is often one of the first things cut from the typical company's budget.
The market today is pretty friendly, as the typical trade show is crawling with potential buyers.
For those that do attend industry events, though, there is one definite way to make it worth their while – to make sales. If you just use events as an informal chance to mingle with professionals and make friends, you're not likely to uncover much in the way of ROI. But if you have tangible goals for delivering sales pitches and closing deals, it just might pay off to attend trade shows after all.
Fortunately, the market today is pretty friendly, as the typical trade show is crawling with potential buyers.
Customers are lurking everywhere
When times get tough economically, it's time to make smarter business decisions that really focus on maximising ROI. You can't afford to go to trade shows just for making connections anymore – you've really got to push for increased sales.
Fortunately, there a couple of signs indicating that this can be done. For example, market research from the Center for Exhibition Industry Research (CEIR) revealed that over the last seven years, attendance at trade shows has increased. In 2009, when the world economy was sagging, companies were only dedicating 33.9 per cent of their annual marketing budgets to attending shows; since that year, spending has steadily increased, and it now sits at over 40 per cent.
It's not just any professionals that are attending shows, either – specifically, it's people who are ready to spend. The CEIR data also revealed that 81 per cent of people who attend trade shows today have buying authority within their organisations. This means that if you're looking to make real progress with brand activation at a trade show, the majority of trade show attendees can be a means to that end.
A new trade show mentality
With an increased emphasis on ROI, and more people at trade shows who are ready to make business deals, it's time to change your approach to attending shows. Don't be afraid to get aggressive – don't just mill around your exhibition booth and wait for people to come to you. Instead, find key decision-makers with potential clients that you can specifically target.
From there, making deals comes down to the fine art of salesmanship. It's a matter of asking the right questions, leading people slowly into the sales funnel and enticing them to buy.
It also helps to have the right booth design that will attract people rather than bore them or scare them off. That's where Proj-X Design comes into play.
Booth design services can help
At Proj-X Design, we offer trade show booth design services that will help your business stand out from the crowd at any trade show. Industry events these days are crowded with people and intensely competitive, so you need a professionally made booth that will help distinguish your brand and make it easier to close sales.
We specialise in designing custom exhibition stands that will suit your marketing objectives. We pride ourselves on our high-quality materials, artistic designs and flawless execution. In sales, initiating that first conversation is half the battle, and we can provide the booth design that will help you win it.