How to Market Your Business and Maximize ROI at Trade Shows
Tradeshows have gained immense popularity throughout the years. Tradeshows are known to offer an excellent place for businesses to connect with their audience and expand their market presence. Becoming part of a particular tradeshow requires substantial investment from the side of the business which is why it is imperative to maximize the return on investment from the marketing efforts at the trade show.
This is essential because there are a number of costs that are associated with the marketing done at trade shows. A trade show booth can cost up to $10,000 and is hence a big investment decision for small businesses. In this article, we discuss some of the steps you can take in order to ensure the effectiveness of your marketing efforts at the trade show and maximize the return earned from your trade show presence.
Decide If Trade Show Presence Is the Best Option for You
The first step is to take into account the different costs that will be incurred by making a trade show presence and whether you believe you will be able to achieve the right return on investment by the success of your trade show presence. This is extremely important because sometimes a trade show might not be able to help you get the success you are looking for.
This is because in order to be successful at a trade show and generate the appropriate return on investment, it is essential for your product to have a certain mystery to it. That is it should be able to attract and intrigue the customers. For relatively simpler products it becomes difficult to generate the appropriate return on investment. So it is a good idea to first do an analysis of the different costs (hotel stay, flight cost, booth costs, marketing tools’ cost) and then decide whether it would be a profitable decision to take part in the trade show or not.
Research and Decide On the Best Trade Show Option Available
Before you book a trade show booth at the next trade show, make sure you do a complete research on the kind of trade shows taking place in different areas. This is because the kind of trade show you register for will have a great impact on the response you will receive. Make sure that the trade show that you select for the registration of your trade show exhibit is relevant to the business you have and has an active presence on the social media and other platforms used to create awareness about the upcoming events.
Competitor’s Analysis & Location of Your Trade Show Booth
After choosing the right trade show platform, it is a good idea to decide on your trade show idea. However, before moving on to your strategy you should find out what competitors will be registering their trade show booths. The location of your trade show booth should be chosen wisely and should be able to attract as many customers as possible.
Use Giveaways, Contests and Virtual Reality in Your Trade Show
On the day of the tradeshow there are a number of trade show ideas that you can incorporate to maximize the return on investment. In order to attract attention, make sure your trade show booth follows a particular theme that attracts the customers. You can also choose to have a lucky draw or a contest that will draw the attention of customers. You should also pre-plan and organize giveaways that can be distributed and can also make use of virtual reality to communicate key product attributes.
Gather Information & Make Connections
Also, make sure you gather information regarding all the customers and make key contacts during your tradeshow presence. This will help you contact the customers once the tradeshow is over for follow up. In addition to this, trade shows serve to be an excellent platform to connect with key stakeholders. Make sure you make use of your presence by making at least 5 to 10 key connections.
Strong Social Media Presence
It is absolutely imperative to create hype about your upcoming trade show ideas and presence on different social media platforms both before and after the show. This will help you gain social media attention and attract more customers to your trade show booth.
By using all of these techniques, you can ensure the success of your trade show presence. Make sure you follow all these steps and incorporate them before, during and after the trade show in order to make the most out of your investment and make your trade show ideas successful.