I’m writing this a week after MWC’s cancellation due to Coronavirus fears and just one day after the National Association of Broadcasters confirmed that the NAB show will go on despite similar concerns (update : so much for those plans.) While we all hope that the current outbreak is a rare occurrence (and that it will be short-lived,) it has made us think about how industry exhibitions could be affected by other global events – like extreme weather conditions or political unrest. Event cancellation aside, your company may simply decide that trade shows are too costly given the current financial climate (hello, Brexit.) Whatever the reason, if you suddenly find that you’re not exhibiting at a trade show this year, there are other ways to get similar results.
The benefits of exhibiting at a trade show
There’s no doubt that trade shows offer some fantastic marketing and sales opportunities – particularly for international organisations. In daily operations it’s difficult to organise face-to-face meetings as teams and clients may be spread across different countries and even continents. But a show like IBC brings the whole industry together, so your top team members can demonstrate your product to the ultimate decision makers, in person, on your stand. Exhibitions also provide opportunities to get your brand noticed beyond your booth – through advertising and sponsorship campaigns, awards, speaking opportunities, social media posts, exhibition videos and trade publication coverage. And, because most of the attendees are from out of town, you’re not limited to business hours and can make personal connections at the many social events arranged around the show.
The drawbacks of exhibition marketing
But there are also significant drawbacks to trade show marketing. Trade shows don’t only attract the top buyers, they also attract the top suppliers and that means lots of competition. With thousands of vendors vying for attention, most visitors have a fully booked diary before they even get to the show and will suffer from information overload well before the show ends, so it’s difficult to make an impact. Exhibiting is also extremely expensive, and you have to recoup these costs before any income from the show can be added to your profit margin. Taking your team out of the office for extended periods can also have a negative impact on your operations and ability to support existing clients.
The alternatives
As we mentioned previously, there are other ways to get your products in front of the right people. We’ve limited the following alternatives to exhibition marketing to activities that support full product demonstrations and, just like trade shows, these options have pros and cons that you’ll need to take into consideration when putting your marketing plan together.
1.Produce video content to demonstrate how your product works
We’re not talking about slick marketing videos full of high-end graphics and top-line benefits here. Videos that can be used as an alternative to on-stand demonstrations need to show your product or software in action, and in detail, so that potential clients can get a real understanding of how they work. The benefits of producing how-to and similar videos are that they can be used both to train current clients and to attract new customers, and they’re available at your viewers’ convenience - but they don’t offer any live interaction with your audience.
2. Host a virtual event that includes live product demonstrations
Webinars and streamed presentations provide a lot of the benefits of a live event without the hassle and expense of travel. They require some infrastructure to set up and you’ll need a good marketing campaign to attract signups, but they do provide the live interaction that recorded videos lack.
3. Put on your own showcase.
Hosting your own event is the most effective way to replicate the exhibition experience, but only if you’re confident that you can attract the right attendees. Live events provide the invaluable opportunity to make a personal connection that none of the other approaches offer, but they can also be expensive and risky. Consider co-hosting an event with non-competing vendors to increase your reach and reduce costs or doing a travelling roadshow to make it convenient for your customers to attend.
While the technology that enables video sharing and virtual events has changed dramatically over the last ten years, trade shows have largely stayed the same. Whether your trade show attendance is under threat or not, maybe it’s time to consider whether one or a combination of these alternatives might be just as effective as exhibition marketing for your company.
Get in touch now to find out how Little Cricket can help you reach your prospects outside of exhibition halls.