Why Startups should start upping their trade show presence
4 MIN READ
When it comes to trade shows, startups often turn a blind eye to them and opt for inexpensive online substitutes, due to budget or logistical restrictions. But regardless of not being the most alluring form of marketing to the startup crowd these days, the trade show industry is thriving, driven primarily by economic and job growth. Moreover, companies are continuing to send employees to trade shows as a way to treat them to an industry event, while getting some work done in the process.
When employees attend trade shows, morale is boosted, new contacts are made, skills are improved through educational seminars, and sales leads are generated. A study by Meeting Professionals International found there’s a 40% close rate for meetings conducted in person. The industry continues to prove that face-to-face marketing isn’t entirely replaceable—and will likely never be.
If we have yet to convince you that startups should really be showing up at trade show events, here are five unequivocal reasons why to stop ignoring the scene and start embracing it:
1. Startups (as small as they may be) can get noticed!
Industry influencers and bloggers pace trade show floors gaining insight into the best, brightest, and most up-and-coming companies and trends. Cold emails to influencers may never be read, but a fascinating booth and a crafty sales hook may spark a genuine conversation with a press rep, giving you an even higher return on your marketing expenditure than you thought possible.
2. Pre-qualified customers are there for the taking
A pre-qualified customer is one who has traveled, spent money, brought a colleague, or made an actionable investment to attend. Trade shows are teeming with people who have opted into the experience, and 84% of them have the power to recommend, specify and/or make real purchasing decisions. The trade show floor is the ideal place to engage with customers who actually care about learning more about the companies that are exhibiting.
3. Get that all-important feedback IMMEDIATELY
Trade shows offer a unique opportunity for you to see how attendees interact with your product and hear the questions they ask, so you can get a deeper understanding of your ideal patron. Use the trade show experience to gain insight into new features to add to your product, to see how your customers use your product, and to get valuable testimonials and feedback.
4. Check out the competition
As trade shows offer an excellent opportunity to introduce new products and services, you also can use the occasion to become more informed about how your competitors are positioning their products. Also, it’s imperative to be at the same shows as your competition in order to be considered a viable alternative for possible customers.
5. Build a super strong network
In person at a trade show, you can use your real-life charisma to build new relationships that exist offline. Trade show floors are inundated with customers, investors, CEO’s and executives. You never know the influence of one great new contact, so keep in mind that you should engage in evocative discussions with everyone you meet.
Yes, trade shows can be expensive, but the value they deliver in terms of leads, network, and feedback over a short period of time can be worth the extra dollars. In the startup world, time is valuable, and using it wisely can make all the difference. And, since Kadmon-Brin has been working with Start-ups for so long, we’ve come up with clever solutions to this challenge. Want to learn more? Leave us a message today!