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Reasons and Strategies for Launching a Product/Service at an Exhibition or Tradeshow

In today's digital age, where most marketing is conducted online, it might seem that exhibitions and tradeshows are no longer relevant. However, as per the reports by Research And Markets, the events and exhibitions market in the US has grown rapidly, reaching a value of $7.09 billion in 2022. It is expected to continue rising at an increased rate, with a compound annual growth rate (CAGR) of 3.10 percent. 

So, if you are planning to launch a product at a trade show, it can be a good decision as you will have the perfect mix of target audience and press to ensure maximum publicity potential. But even with a solid product and idea, you still need an effective strategy on how you launch a product at the exhibition. In this blog, we will cover all the strategies for launching a product or service at an exhibition or trade show. But first, let us discuss why it is a good idea.

Reason to Launch a Product at a Tradeshow  

Let us learn about why you should launch a product at an exhibition:

Maximum Exposure and Brand Awareness

With numerous people attending, tradeshows are an excellent way to introduce your product or services to a wide audience of journalists, business leaders, prospective clients, and industry-specific visitors. Participating in these effective B2B tradeshows provides an opportunity to enhance brand visibility and connect with fellow exhibitors. This is especially beneficial for small businesses as it allows them to build relationships with industry leaders, potential clients, and colleagues. These connections could lead to valuable partnerships and collaborations that support business growth.

A study by Statista found that 92% of trade show attendees are looking for new products, and 76% asked for quotes or contacted vendors after attending a trade show.

Communicate Directly With Customers

Having the chance to talk to potential customers in person is one of the best things about exhibitions. Face-to-face meetings are better for building trust and friendship than emails and texts. This kind of personal interaction can help people connect more deeply with your brand and give you higher conversion rates, as 82% of trade visitors have buying power and purchasing authority.

Cost Effective Marketing

Trade shows may require some initial investment, but they are a great marketing tool for businesses. In contrast to other marketing methods, they provide a better chance to reach a specific demographic audience.

Research by Exhibitor Magazine indicates that face-to-face interactions at trade shows can reduce the cost per lead by 56% compared to other marketing methods.

Create High-Value Prospects

There is no better place to get high-quality leads and close deals than at an exhibition with potential buyers. 90% of attendees come to tradeshows to buy new products that have been recently launched. They are in the mood to purchase and search for new products and solutions, which makes them more receptive to discussions. Your efforts to generate leads and increase sales can be increased by tapping this interested audience.

Get Direct Feedback

Tradeshows offers a platform for real-time feedback from your target audience. This immediate response enables you to assess the market's response to your product and make the requisite modifications. With this feedback, you can conduct market research, enabling you to test new concepts and gain valuable insights to improve your offerings.

How You Launch A Product At The Exhibition

Since now you know why the exhibition is important for business, let us learn about some effective strategies and ideas to launch a product at the exhibition and tradeshow:

Pre-Show Preparations

  1. Choose an industry-related event and set goals like lead generation or brand awareness. 

  2. Allocate funds for booth design, space, promotional materials, and staffing. 

  3. Create a booth with amazing ideas, such as interactive displays and engaging visuals, with the help of professional designers. 

  4. Promote yourself on social media, email, and press releases before the event.

Pro Tip: Reserve a corner stand! A trade show corner stand maximizes visibility and foot traffic by allowing your booth to be seen from multiple angles, attracting more attendees, and boosting your presence.

At the Exhibition

  1. Keep attendees engaged with live demonstrations and prepare your team for questions.

  2. Use AR, VR or touch screens to give hands-on experience of your product or service.

  3. Exclusive deals increase purchases! Use lead capture tools, hold informative sessions, and distribute branded giveaways. 

Pro Tip:  70% of trade visitors are subconsciously drawn to custom exhibition stands, so use eye-catching visuals and interactive displays to draw them in.

Post-Show Follow-Up

  1. Consider metrics like lead generation and sales to measure the efficacy of your participation.

  2. In order to find ways to improve, get feedback from your team and the people who attended and use the information you gathered to improve your approach to future events.

  3. To keep people interested, post about your exhibition's success on social media and your business blog. 

Pro Tip: To maintain a connection with leads after the exhibition, send them personalized follow-up emails within a week of the event.

Finishing Thoughts:

Launching your product or service at an exhibition or tradeshow provides exceptional opportunities for growth, engagement, and visibility within your industry. Through the strategic utilization of these events and the implementation of effective strategies, businesses have the ability to boost their brand presence, connect with specific audiences, and build the way for sustained success in the market.

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