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Why B2B businesses need to include “TRADE SHOWS” in their marketing strategy?

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Author:
Uzair Hamid

Lead Generation – B2B marketers’ primary focus

Customers nowadays perform extensive online and offline researches before making any purchase decision. It has been found that 57% of the purchase decision has already been made before a company approaches to any sales rep. This requires companies to re-evaluate their marketing mix and try to create more touch points. Having multiple engagement points will allow the company to stay connected with their customers during their research process.



Figure 1: Challenges faced by B2B marketers (Source: Marketing Profs)

B2B marketers’ primary focus is to generate more and more leads for the business. Considering touch points, B2B marketers today rely more on online medium rather than offline mediums. It has been ascertained that usage of email, social media, and mobile marketing has increased by 60%, 48% and 40% respectively. On the other hand, investment in print advertisements and trade shows has been reduced by 33% and 16% respectively.


Figure 2: B2B Marketers priorities (Source: Marketing Charts)

Online B2B platforms, like TradeKey help companies in focusing on their online strategies. Companies can go for premium memberships that offer advertisement services (social media services, pay per clicks), buyer acquisition, extensive research, and more prominence in online world. Companies can benefit by outsourcing tasks that they are not good at. More importantly, online B2B platforms provide content marketing tools through which companies can spread the word about their products.

What is the importance of Trade show? 

Though a decline has been witnessed for investment in Trade shows, this decline remains relatively less than the print advertisement. The reason for this fall can be attributed to the lack of knowledge in organizing and participating in a trade show. Trade shows offer greater visibility and build credibility in the eyes of existing and new customers. Companies are reluctant to participate in a trade show due to the high cost; however, if the right marketing strategy is in place then benefits will far exceed from the cost incurred in the trade show. A company should participate in a trade show because of the following benefits:

1)      A chance to generate highly targeted and lucrative leads for the business, thus helping in expanding business across the globe.
2)      Learn about recent developments in the industry, thus aiding a company to assess its competitive advantage.
3)      Presence in a trade shows make the company reliable, serious and a strong brand in the eyes of industry and customers.
4)      Prospects give their time in trade shows and are ready to listen without any resentment. Make the most of this opportunity!!!
5)      Display all latest products of the company in order to have a lasting impression on the audience.
6)      Trade shows have lost cost barrier to entry. Smaller companies fight with bigger companies under the same roof.

What do you think?

If you think Trade show is costly, yes you are right. The cost to rent a booth at trade show, making travel arrangements, incurring lodging and meals cost at the venue come at a heavy cost. However, the cost can be recovered in no time if the trade show has been properly planned. TradeKey understands the importance of trade show and can help your business in planning a cost effective source of leads and sales opportunities by providing a Tradeshow Kit for Exhibitors.

Visit our website of TradeKey Tradeshows to check latest trade shows occurring across the globe. You can also search trade shows as per the industry, country, date of occurrence, and organizer.


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