Exhibition Display Stands – 3 Reasons to Attend Tradeshows
It’s no news to anyone that the economy has been struggling for over 4 years. This is reflected in the business world with companies trying to find ways to market their products while dealing with slashed marketing budgets. For some companies, this meant using used trade show displays. Others were forced to skip some trade shows, and everyone added online resources such as video, webinars and online meetings to their bag of tools.
In March this year, the Center for Exhibition Industry Research (CEIR) announced that 2011 statistics finally showed that a rebound had started; they measured a 2.7% increase in exhibiting and attendees at trade shows in 2011. While this is still a modest improvement, it was 1% higher than the GDP increase in 2011, indicating that the overall outlook for economic growth is positive and bullish.
Clearly, trade shows are dependent on the economic health of the industries in which they serve, and many industries have been experiencing lower attendance levels since the recession hit in 2008. While those attendance levels are now increasing, it is still important for exhibitors to focus on ways to improve their own performance at trade shows.
It is important to remember that success at trade shows doesn’t necessarily have to depend on the amount of people present at the show. Increased attendance numbers are good, but better lead quality and improved conversion rates are at least as important. Following are several tips to survive and thrive with your roll up banners and exhibition displays—even when visitor participation may still be lower than normal.
Focus on Capturing Market Share
Without a doubt, trade show attendance took a hit from the tumultuous recession. On a positive note, one of the factors contributing to the loss of attendees is the reduction of staff sent by your competitors! Companies trim their budgets and tend to send less people to participate in large events; sending five people can as effective as sending ten people, albeit at a lower cost.
It is quite possible that although the number of visitors is low, the ratio of potential customers to attendees remains high. Focusing on capturing the attention of qualified and motivated prospects visiting your exhibition displays will circumvent any issues caused by a visitor drought.
Carefully review the trade shows you plan to attend; evaluate which clients and prospective clients may attend. Pick out your “perfect prospects” and start communicating with them well before the show. Send them pictures of your exhibition displays depicting new products. Schedule a visit time at the show for a “personal demo”. Invite them to come rest their feet and enjoy a cold beverage!
Busy Trade Shows Don’t Necessarily Equal Sales
If all exhibition displays were only visited by ideal prospects for any given company, then each person that didn’t attend the show would be a lost sale. However, the majority of trade shows have a small percentage of your target prospects in attendance at any given event. The objective should be seeking out those key prospects that attend, and presenting your products or services effectively to obtain a lead or a new customer.
While some companies may be sitting on the fence, unable to decide whether or not to invest in exhibition displays and trade show furniture, their competitors are taking advantage. Business A may be apprehensive and hesitant to take a risk, but business B is present—ready, willing and even waiting to take business A’s customers away.
With the proper outlook and strategy, even the bleakest crowd can equal conversions from your exhibition display stands. When you’re evaluating which show to attend, pay attention to whether any of your competitors have elected not to go this year – that may signal an opportunity to meet with their clients!
Take Advantage of Every Opportunity
How much valuable time is wasted at exhibition displays that could otherwise be used to attract visitors and obtain leads? Every precious minute can be used to greet each attendee as they pass your roll up banner and exhibition display stand, and time should be taken to interact with anyone who takes interest in your products or services. Creating the best possible image and representation of your company along with attention-getting trade show banners and trade show graphics will maximize your result during a slower show season.
Regardless of whether your expo display create a sale or result in a good lead, there is always a benefit to be gained at the shows. Although an event may not result in obtaining buyers, the chance to learn valuable information about the competition is always worthwhile. Networking with potential teammates is good. And it never hurts to gain a little more exposure for your products or services; the more visible a company is, the more successful it can become – so get to as many shows as you can, and maximize every opportunity for success at each show!