Part One | How to Select Manufacturing Industry Trade Shows with the Highest Potential ROI
Marketing for manufacturing companies almost always includes manufacturing industry trade shows. And being as there’s always time and money involved in exhibiting at trade shows, it makes sense to try to recoup these costs by investing in building a presence and establishing new relationships with leads, industry contacts and potential referral sources. Your path to a superb ROI from manufacturing industry trade shows begins with the proper pre-trade show planning and ends with follow-up tactics that lead to increased revenue. In part one of this two-part series, we’ll share 5 tips on how to choose the manufacturing industry trade shows with the highest potential ROI. And in part two of this series Preparing a Profitable Trade Show Strategy, we’ll specifically outline 8 key steps to maximizing your ROI once the exhibit hall doors open and thereafter.
The path to a high ROI from manufacturing industry trade shows begins with your selection of the trade shows that are the best match for your company and annual objectives. Failure to carefully evaluate trade shows before placing your deposit could result in lost revenue and wasted time. Here are five tips to help you choose a manufacturing industry trade show that will expand your customer base and bolster your revenue:
#1 Gravitate Towards Well-Established Manufacturing Industry Trade Shows
Determining which trade shows to attend can be an overwhelming process. With thousands of manufacturing industry trade shows taking place across the globe, you need to make sure that you get the most bang for your buck. Resist the urge to exhibit your products at an inaugural trade show, as attendance and traffic will likely be low.
#2 Select Trade Shows That Have a Track Record of Being Well Attended
Many trade shows post the attendance figures from the previous year’s show on their websites. If you are unable to find past attendance information on the trade show’s website, contact the trade show organizer directly to obtain attendee information. Look for manufacturing trade shows that show attendance increases from year to year.
#3 Ask Trusted Colleagues, Customers and Distributors for Their Trade Show Recommendations
If you are relatively new to the manufacturing industry, seek advice from colleagues or members of professional organizations. You can also review websites for prominent manufacturers, as they often have a trade show calendar posted. And don’t neglect to ask your customers and potential distributors if they plan on attending any manufactruing industry trade shows this year and what they’re hoping to get from attending. This information will help you narrow down which shows to attend, and give you valuable insight to use in your trade show strategy, which we’ll outline in part 2 of this series.
#4 Request a List of Exhibitors Who Have Committed to Participate
An exhibitor list will provide valuable information about competitors and industry leaders who invest in a trade show. If your competitors are attending a major expo, you may wish to consider attending as well. And if any existing or potential distributors of your products are attending, it may be in your best interest to establish a presence there too.
#5 Consider the Location and Dates Before you Make your Deposit
In general, trade show traffic is lower around major holidays like Christmas, Thanksgiving, and New Year’s Day. Traffic may also be reduced if a trade show is held in a smaller city that is not close to a major airport. Consider these factors before you commit to any trade show, and make sure your very best sales people and product ambassadors are available to staff your exhibit.
How to Ensure That You Make the Most of Your Manufacturing Industry Trade Show Investment
Once you have finalized your trade show calendar for the year, there are several next steps that you should take to ensure that you maximize the number of high quality leads you receive, and it all starts with creating a solid trade show strategy. Visit part 2 of this series, Preparing a Profitable Trade Show Strategy, where we’ll specifically outline 8 key steps to maximizing your ROI once the exhibit hall doors open and thereafter. Or contact McAllister Marketing now if you’re interested in knowing how our team of experts can help you with everything from signage to strategies that attract, convert and retain more customers.