Should You Spend Large Amount Of Money On Trade Shows?
Whenever, you go to any trade show, many questions come in your mind such as whether it is a great idea to spend large money on any trade show as an attendee or exhibitor or not? Answer the following five queries can help you reach a decision. As you know there are two sides of each trade show: the exhibitors and attendees. Definitely, there are some trade shows that call your name, regardless of your company, industry size or location. These trade shows are just like a powerful gathering or an event under the single roof to bring all the buyers and sellers of the related industry to do some serious business.
As an enterprise, you have to make a big decision: whether should you send some employees to the show as an attendee or should you spend big bucks for a small trade show booth?
How to Decide?
This query needs your full and undivided concentration. The right decision could boost your company that it needs. On the contrary, the wrong preference could hold you back from reaching your objectives.
In an overall sense, only one thing matters: return on investment (ROI). Will you generate more profits from the trade show than you spend on a Trade show booth? Moreover, there are five queries to ask before deciding to attend or exhibit.
- Does your business have enough money for it?
Although, you know your capability to create a good ROI, but still there is no guarantee of 100% success. When you don’t have full confidence of 100% success and even don’t have a large amount of money to spend on Trade show booths, it is advisable to step back. Re-evaluate your enterprise’s current position, and then decide whether it would be more advantageous to take part in a future event. You should try to exhibit in your vicinity rather than outside area as it saves your travel cost as well your shipping charges of marketing materials.
- How much your market closely matches with the expected attendees?
One imperative thing that you must not overlook: would the viewers closely match with your market or not? For instance, your main target is small scale to medium sized businesses; you should not attend trade shows where large majorities are high scale companies, as you may make some sales and even may form some valuable partnerships by luck.
Despite that, if you aren’t presenting your product in front of your objective audience, it will matter the most. Thus, before exhibiting at any trade show, it is worth to ensure that your product or services will ideally fit to the audience.
- Will you get solid feedbacks?
Whatever your size of business is, it is quite significant to ask for feedback from your potential audience because every single conversation matter a lot for your business. So, getting feedback is must to grow your business, whether it is positive or negative. This should go hand in hand while attending trade shows that allure your target spectators. Nevertheless, these are the folks you are trying to prevail over. Make sure that after writing down share it with your team, it’s priceless.
- What is the true cost?
The cost of the trade shows booths are an imperative factor to consider before thinking about another related factor.
- Have you considered the travel expenses of all employees who will work on the trade show? This includes the whole thing from airfare to accommodation to food.
- Will you need any new trade show portable display, Datasheets, signage and business cards?
- Will you require leasing any furniture, lead capture devices, monitors, and internet or display cases?
Never overlook to consider all the operating expense associated with your trade show.
- Will it open new opportunities?
It is not necessary to calculate ROI by the number of leads and estimate sales rate. There are other ways to succeed at an event, for example forming partnerships and learning from others. You may get astonished by the complete number of impressions that you obtain just by somebody walking to your trade show booth. Bear in mind this may possibly be an effective marketing tool for your company.
There are no comments on this entry.