How Trade Shows Can Help Launch your Business in New Industries
Are you a small business looking to generate more sales leads? It may be time to get vertical.
“If you’re B2B [organization], you may wish to begin by getting into certain verticals and start reaching out to their associations. Find out which memberships will help you get either free advertising in their buyer’s guide or consideration for advertising directly to the decision makers.”
One of the fastest and most cost-effective ways to break into a new industry and connect directly with decision-makers is to exhibit in industry trade shows. Trade shows allow exhibiting companies to:
Gain face-time with prospects and industry professionals: This article from www.MarketingProfs.com illustrates the value of face-to-face communication in the digital age. “According to a Forbes Insights survey of 760 business executives, face-to-face meetings were preferred in cases that have a fluid decision-making process, requiring the give-and-take typically needed for complex decisions and sales. Among the business attributes and outcomes, face-to-face interaction was most critical for persuasion (91%), decision-making (82%), and candor (78%), the study found.”
Build professional relationships that will last the lifetime of your business: An EventView study reports that “of senior executives in sales and marketing, 62% chose event marketing as the discipline that best accelerates and deepens relationships.”
Close sales faster and spend less doing it: In addition to exhibiting being one of the most valuable assets for initiating long-lasting relationships, it’s one the most cost-effective methods of lead generation in business. A study published by the Center for Exhibition Industry Research (CEIR) shows that sales cycles that result from trade show leads close faster and cost less to close than outside sales leads; $550 and 1.4 sales calls compared to $997 and 3.6 sales calls, respectively.
Participation in trade shows provides businesses with a smooth transition into a new vertical, with the potential to achieve big results quickly.