It’s a slow year, but Kevin Robinson of Great Lakes Communication Corp. in Spencer, Iowa, didn’t let the economy stop him from launching a newly designed telephone system in a new market sector. The best way to get face time with buyers in a new industry? Attend a trade show, Robinson says.
“We had never done a trade show before, but we wanted to make a splash, and we wanted access to the right buyers,” he says.
Attending the show took a $20,000 investment, but Robinson says it was worth the cash to see if the new product, a newly designed phone system, would work for its intended audience. He and other staffers let potential customers test-drive the new product in their booth, and they hosted an invitation-only party for top buyers on the show’s final night.
Based on buyer feedback, Robinson went home and tweaked the product, then started following up on leads from the show. Orders are coming in, and within two months of the show, Robinson expects to ink deals with at least 25 of the 60 or so qualified leads he got there.
“Exhibiting is an incredibly powerful marketing tool,” says tradeshow expert Susan Friedmann, author of several books including Riches in Niches: How to Make It Big in a Small Market. “But it’s also expensive. You have to go in with specific goals and objectives to help you determine whether it’s the right option for you.” Start by following these tips:
Size up the audience. Speak to show organizers, other exhibitors and attendees to find out if the people you want to reach will actually be there. While shows may be a little smaller this year, “I’m hearing from exhibitors that the quality of buyers is going up even while the quantity is going down,” Friedmann says. “Be careful about judging a show just by numbers.”
Set a measurable goal. Most exhibitors attend trade shows to increase sales, but other goals include increasing brand awareness and conducting market research. For Robinson, a trade show made sense for reaching the goal of tapping a new market–but he’s not sure that he’ll exhibit again unless he has another new product to launch.
Don’t just show up. “Small business owners often show up and hope for something to happen,” Friedmann says. “That’s like playing Russian roulette, and it’s not worth the risk in this economy.” Instead, take strategic steps to increase success, including pre-show marketing, on-site networking and post-show follow-up.
Incoming search terms for the article:
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
