Trade Shows For Tough Times
 By Lee S. Shaffer

During tough economic times, small-business owners can be tempted to zero out their trade show budgets, pack up their display booths and give up on exhibiting. Not so fast.

Trade shows can be good for business even when potential buyers seem to be tightfisted with their money.

Here are six reasons the show should go on for your small business.

1. Accelerate Buying
Trade shows can shorten the buying cycle.

If it usually takes five or six sales calls to close a sale, a successful trade show can be the equivalent of making the first two or three calls.

You get an immediate introduction to potential buyers. You get to demonstrate your products or services. And you get to develop a rapport with potential customers.

In some industries, you might even be able to seal deals on the trade show floor.

2. Prove Your Credentials
Regardless of your industry, everyone knows that the economy is shaky. And trade show attendees arrive at exhibitions with that knowledge.

By simply being present at a trade show, you prove that your small business is still open and ready to move forward no matter what the economy throws at you.

That’s a powerful message – even if your trade show booth is smaller than usual, even if you’re showcasing fewer products than usual.

In the business world, out of sight is out of mind. Trade shows are a tangible way to stay in your customers’ sights.
 
3. Be A Big Fish
As the economy shrinks, so do most trade shows. Fewer businesses choose to spend money on exhibiting.

That means there’s less chance of your small business getting lost in the crowd.

With fewer exhibitors, attendees can spend more time with and give more attention to those exhibitors who do show up – namely you.

You may also be able to claim prime real estate in a booth space vacated by a no-show exhibitor, increasing your visibility even more.

So, while the show may be smaller than in years past, your place in it could become more prominent and more profitable.

4. Deliver Excitement
Even in a subdued economy, attendees still enter trade shows with the anticipation of seeing new products and exciting services. Make sure you deliver.

An economic downturn can be a perfect time to introduce a new product or promote new uses for old products or tout an improved product with new features. Roll out a new service line. Show your optimism.

Your enthusiasm will be contagious with potential buyers. While competitors may be hunkering down and retrenching, you’ll be showing potential buyers that your small business is able to meet the challenges here and now as well as in the future.

5. Seek New Suppliers
During boom times, some suppliers may have ignored your business, thinking your account would be too small to bother with. But, times have changed.

As your competitors pull back production or scale back operations, industry suppliers might now be looking for new clients – regardless of account size.

Visit suppliers on the trade show floor. Let them know you’re looking for new supplier relationships as you position your business for a strong future.

6. Sell Value
Buyers are always interested in value, even more so when the economy is stalling. They want to get as much as they can for every dollar they spend.

Tell potential buyers you understand that challenge because you’re facing it yourself. Then emphasize the value of your products, your services and your company.

Don’t try to sell on rock-bottom prices. Instead, show potential buyers how much they can get for their money by purchasing your offerings. That might include personal service from you – the business owner. It might include a superior product guarantee. It might include services and products delivered on time and on budget every time.

Whatever your value proposition, sell it on the trade show floor.

(Posted April 2008)

>>Back to Focus Workshop