Why Are Trade Shows Important for Business
We’re living in the digital age where businesses can instantly spread the word about their product or service. Surprisingly they continue to invest thousands of dollars in trade shows and exhibitions. Why do industry-related trade shows continue to draw thousands of participants and millions of attendees?
With more than two decades of experience in retailing trade show displays, here are some of the reasons that we could think of…
- The Human Element:
Even with photos and videos of a product, we still prefer to see products in person: we want to hold it in our hands and make sure it’s worth the money. It’s also easier to speak to real people when asking questions about a product, rather than rely on online FAQs or live chats. It’s human nature to trust and feel comfortable with human interaction. Trade shows provide the human interaction that’s missing when you buy something online. Another problem with online interaction is that it’s easy to misunderstand someone’s tone in an email or social media post. With face to face interaction, people don’t have to rely only on words: body language, facial expressions, and eye contact are nonverbal cues that they can pick to understand you. Trade show booths encourage face-to-face interaction where participants get to explain their product, discuss their competitive advantage, and even allow users to try the product.
- An Attentive Audience:
An average person spends less than 15 seconds on a website before deciding to move on to another site. Even when people are on a page for a longer time, they’re often unable to focus because of information overload. It’s different at a trade show because you have a captive audience: people who have similar interests who have chosen to give you the opportunity to help them. If you have a compelling booth with interesting trade show displays, you can attract people’s undivided attention. This gives you the opportunity to explain everything about your product and answer any questions they may have. This is important information that may help you close a deal.
- Get to Understand the Latest Development:
There’s a reason why businesses choose to announce their latest product or tech innovation at trade shows. People attend these shows to learn about the latest cutting-edge technology that has been introduced in the industry. Showcasing your innovation positions your company as a forward-looking company that focuses on research and development, and it also offers a great opportunity for brand building.
- Return on Investment:
At the end of the day, you have to justify the marketing budget to prove a return on investment. A trade show reassures businesses that their money is well spent thanks to statistics showing excellent trade show participation. For example, a survey by Statista found 74 percent of participants were more likely to buy products they interacted with at a trade show.
Are trade shows important to your business? Do you use high-quality trade show displays to make your booth stand apart from the crowd? Let us know!