Underpinned by your objectives for the next 12 months, all your activities should collectively focus on helping your business achieve the same clear goals, be that growth, higher sales volumes, to increase membership or improve your employer brand.
When it comes to industry exhibitions, these can be a bit of a minefield. Not only are they expensive, it’s also very difficult to understand which one(s) will deliver the best return on investment and connect you with a genuine pool of fresh new target customers, whilst helping to elevate your profile and bring some worthwhile networking opportunities.
All-in-all it’s quite a big ask, so below we’ve pulled together a short guide to help you decide the best approach for your unique business.
Firstly, do your research
As specialists within your own industry, you may have a pretty good handle on the main exhibition for your industry, the stand out ‘big one’ that has a credible list of exhibitors, where the most sought after key note speakers, journalists and industry pioneers choose to make an appearance.
Logically, if you have this information and your budget meets the criteria this is the one to attend.
However, this decision comes with some clear variables to really maximise your investment…
So, you can afford a big flashy stand, what next?
Big exhibition stands with all the bells and whistles instantly make you stand out, can help establish your position as a market leader/contender and set you aside from the competition. But to really maximise your investment you need to consider the activation that happens within your stand.
This is the ‘reason’ or ‘draw’ for your target customers, existing customers and exhibition organisers to visit your stand and keep talking about you long after the exhibition has ended.
Creating a buzz
Key note speakers and brand experiences can make a difference here. This may be something you can achieve with an in-house resource or it might be a collaborative partnership with an industry pioneer that attracts lots of attention and interest.
Having the right draw will not only make yours a destination stand, it will provide content for newsletters, social media platforms and by association elevate your brand reputation.
At the opposite end of the scale
What if your budget does meet the cost for a stand, but only for one of the small stands tucked away in a corner. Is it a worthwhile investment or should you attend in a visitor capacity only?
Our recommendation here is to invest in a stand if you have a product or service that can only be explained or experienced in person.
For example, if yours is a new chocolate bar, invest in a stand and sample your product to a targeted audience of foodies. It will showcase your product, help drive sales, encouraging word-of-mouth and noise around your brand, also providing content for newsletters and social media platforms.
It is often the case for an emerging brand that you need to ‘be seen’ in the right arena to demonstrate your long-term intentions to become an established player in that market, act from the outset as the brand that you want to become.
Just visiting
However, if yours is a product or service that can be presented without the need for a stand, you may be better to attend as a visitor without the big overheads.
If this is the case, pre-arrange a series of meetings with suppliers, target collaborators and influencers in advance to help drive awareness for your business.
This investment of your time will enable you to network with and sell your products/services to industry champions that can help you meet your long term goals.
One additional or alternative area to explore when you’re not investing in a stand is sponsorship.
Is there an exhibition guide you can be part of? Will you get a better ROI from sponsorship of the key note speaker stage, aligning your brand to innovation and thought leadership? What sponsorship opportunities exist in and around the exhibition space?
Again, this is where you need to refer to your over-arching objectives for the year… if sales are key then showcase and sample your product/services, if innovation and brand awareness is your primary objective instead consider aligning your brand to key note speakers and industry pioneers.
Attend with another key player
With a little bit of thought and creativity, you can develop a cost-effective route to help achieve your goals. Be bold and take risks with partnerships, by suggesting collaborations with brands to elevate your status and champion your business, helping to unlock a route to your vision of success.
If you have any questions about what we have covered in this article, or would like to know how we can help your business, please get in touch. We’d be more than happy to help.