WHAT KIND OF TRADE FAIR SHOULD I ATTEND TO PROMOTE MY BUSINESS?
We don’t have to ponder this question to get an answer; it is one that will deliver more potential customers. The world of events is so complex though, that taking out the trade fair calendar and picking up one that seems suitable is not enough. We must assess aspects such as massive exposure versus perfectly targeted audience, networking versus purely commercial actions, learning from the surroundings versus exhibiting all our expertise…
Likewise, a final customer closing a sale on the spot is not the same as one that could potentially become an ally or a middleman. What kind of fair should I participate in to meet my business objectives?
TYPES OF TRADE FAIRS
First, we must get to know the environment and this way, be able to design a suitable trade fair marketing strategy. To this end, we can differentiate three main types of fairs:
- Industrial or sectorial fairs: those specifically directed to professionals in the sector and that are usually closed to the main public or have restricted access.
- Fairs for consumers: these are exhibitions for promotion and where visitors are given the opportunity to buy assets and services; their nature is more recreational than professional.
- Fairs for all publics: this type mixes both, so business and sales take place here.
WHAT KIND OF TRADE FAIR TO CHOOSE ACCORDING TO NEED
Considering these three types of exhibitions and congresses, we must choose one according to our interests and commercial objectives.
This way, if what we want is to be part of a fair to increase our short-term sales as part of our offline marketing strategy, the consumers’ fair is our best ally. This type of fair simplifies the way in which we can measure the results of our actions with earnings upon closing.
Do I want to sell more or gain presence in the sector? Immediate economic or promotional benefits? Answers to these questions are found in the kind of fair to be chosen
If what we want is to maximize our participation and expand our benefits beyond income, our best option is to be part of a fair open to all publics. There are other positive aspects that are not as easy to measure and that can come through greater presence in the public or as consolidation in the sector as a potential competitor.
We should also consider that immediate sales are not all that is important, as long term is as important as short term in the business world, together with reputation and the capacity we have to keep ourselves as a reference in the sector, and for this end, there is no more powerful tool than industrial fairs.
“Promotion, market positioning, customer base growth, opening of new expansion channels… many are the benefits delivered by a trade fair that can’t be measured by just revenue”
Finally, there are fairs that due to their importance and scale, such as the pharmaceutical CPhI or the Mobile World Congress and to the extent that they are slightly referential in our sector, represent a great business opportunity. These are fairs that can welcome from 50,000 to 100,000 visitors, so by sharpening the strategy of introduction and promotion, vital when confirming our presence to any fair, the repercussion can be highly valuable and advertised.
OTHER FACTORS TO KEEP IN MIND WHEN SELECTING A TRADE FAIR
The kind of fair and the target public are fundamental, but these are not the only factors to consider:
- Economic factor: the further the reach and repercussion, the greater the costs (not only direct costs). It would amount to a terrible loss to get the unparalleled opportunity to participate in a major fair using the entire budget to rent the space and leave aside other factors, such as the necessity to have a high-class designer stand consistent with the event.
- Time factor: trade fair participation, so it can be maximized, requires early organization and planning and therefore, approximately an 8-month margin.
- Space factor: we can reach a massive audience, but how many people can we actually help? It is very important for us to measure the degree of our actions, that scope we wish to reach, and consequently, design a stand that will comfortably match our needs.
The world of trade fairs is a challenge in itself and one you should face in good company. Like any other journey, the better organized you are, the less room for problems to appear and spoil the experience and the results that await. Will you let us join you?