There are numerous small businesses spread around the world that manufacture products which we use in our day to day life. Most of the big corporations too use their products as part of their manufacturing process to assemble their own final product; since they find buying products from smaller businesses cheaper as compared to manufacturing their own. This is because smaller businesses due to their small size, are able to keep their costs low and provide a very competitive price to their customers.
However the business prospects for small businesses has now become very competitive due to the growth of the internet. Companies are now able to search and source products from all over the world, communicate easily with new suppliers and order goods easily at more competitive rates than the existing suppliers. As a result, small businesses need to adopt new business marketing activities to reach out to companies and interact with them for business.
One marketing activity that small business can definitely try out to attract more customers is trade shows. Trade shows are now organised for almost all business sectors and industries. These platforms provide an excellent opportunity for customers and suppliers to meet face to face, check the products and discuss prices.
No doubt, businesses that want to participate in trade shows can also optfor a small stall design, mainly in order to save their participation costs because usually they don’t have big budgets. As compared to other mediums of marketing, such as print, television and outdoor media etc., the trade shows give small businesses an opportunity to directly showcase their products and services to existing and potential customers within a short duration of 3 to 4 days, depending on the exhibition duration.
By participating in an exhibition, small businesses can get a chance to study the latest developments in their field. It also gives them an opportunity to study and understand their competitors’ products and services and see how their own products/services can be improved and presented to their clients. The latest trends and innovations in the particular industry or sector too are showcased at most trade shows, which gives all the trade show participants an idea about the changes they can expect in the future and how to manage them to suit their business better.
Many government organisations and associations visit the exhibitions and share their viewpoints to the exhibition participants through workshops and conferences. These workshops help the small businesses know the latest rules and regulations concerning the industry they are operating in and what benefits they can expect from the government in the future.
While participation fees for exhibitions are normally a bit costly, they are worth every penny you pay if they are organised well. The biggest success factor of an exhibition is the number of participants in the exhibition and the volume of visitors. While you may have a small stall design, how you display your products and the attention you give your visitors is what help create a favourable impression on the targeted audience, and convert them into customers.
Since most of the exhibitions also have participants from international countries, it also gives the small businesses a chance to showcase their products to the international clients. They can use the opportunity to collaborate with international companies for both marketing and sharing the latest technologies, which can be beneficial for both the parties.
Getting client’s feedback directly on their latest products and services is the biggest benefit small businesses can have by participating in the trade shows. It gives them a forum where they can highlight the features of their products to the trade visitors and also see if they meet their requirements.