No matter what industry you’re in, you might face the prospect of attending or exhibiting at a trade show at one point in time. But despite the numerous benefits that you could reap from exhibiting, there are some downsides that you’ll want to consider before taking the leap.
To put you on the right path, here are the top pros and cons of exhibiting what your business has to offer at a trade show:
Let’s start with the pros…
1. There Are Lots to Choose From
One great benefit that comes with trade shows is the variety that there is to choose from. No matter what your business specializes in, it will be able to find a trade show that it can easily exhibit in. And if it’s something that you are not sure about, then you can simply attend a trade show before deciding if it’s the right route to take.
By attending a variety of trade shows, you’ll get a taster into what it can take, see what similar companies are doing and gain an understanding of the process. Similarly to if you attended a particular type of show – such as a truck show (there are numerous truck shows to visit in Australia for example), this taster can prove to be invaluable into seeing what can be exhibited.
2. You’ll Be Able to Boost Brand Awareness
A key advantage that comes with exhibiting at a trade show is the improvement that it will have to the awareness of your brand. A big way of showcasing what you have to offer to potential investors and customers, you’ll be exposed to a large pool of potential profit. Illustrating your professionalism and how reputable you are, people will be more likely to invest in your product or service.
3. Generate Strong Leads
Following on from the above, through exhibiting, you may be able to secure strong and reliable leads. Allowing you to access instant revenue, it can prove to be a successful technique in the short term and something that you can repeat every few months when the next trade show occurs.
And now let’s talk about the cons…
1. There Is Often a Lot of Competition
Unfortunately, many trade shows have hundreds of exhibitors. And because of this, you may be battling with your competitors to gage the attention of potential customers. Depending on your product or service, you might find it difficult to stand out from the crowd – especially if it’s the first trade show you have exhibited at. To overcome this, make sure that your brand is extraordinary and that you have shown why you should be there #1 choice.
2. It Can Be Expensive
A notable downside of exhibiting is the cost associated with it. Not only will you need to budget for the cost of the booth, but also how you will transport equipment to the show, any food your staff will need to buy throughout the events, the wages of the staff, etc.
While strong leads that you’ve acquired can help to offset some of this expense in the long run, the initial expense can seem like a lot for smaller business sticking to a tight budget.
3. Leads Might Not Follow Through
Another downside to consider is the fact that not all leads will follow through. Even if a customer might seem interested at the time, they might not purchase your product or service after the fact. They might end up opting for your competitors or will simply forget about what you had to offer. To try and prevent this from happening, it’s good to persuade them to purchase your product/service at the time that they are at your booth. Don’t force this though, as you don’t want them to feel as though they are pressured into buying – you need to find a happy medium.