Trade shows provide opportunities for companies to increase their brand success unlike any other form of event marketing. For the automotive and auto industry, trade shows are often overlooked as worthwhile investments, with less than 3,000 auto shows previously or currently taking place across the globe.
Whilst trade shows are costly and time-consuming, their ability to open new doors for the auto industry to gain knowledge, introduce products, engage with target audiences and generate sales, make them a valuable investment to your business. To highlight the opportunities that trade shows bring, here are five reasons why these events can benefit your business.
Gain knowledge of new trends
Trade shows showcase a world of new ideas and trends in the market, with companies from across the globe attending to exhibit their products or services. Attending a trade show can help you identify the designs, quality and materials that distributers and investors are interested in purchasing.
Organisations will often use trade shows as an opportunity to introduce new concepts into the market. Exhibiting allows you to be the first to know about any changes in the industry, rather than hearing about it from someone else or reading about it online. Trade shows also provide an opportunity to view competitors and identify any gaps in the market that you can possibly leverage off.
Engage with your target audience
There’s no point introducing your product or service into the wide world if you’re not reaching an audience that have a genuine desire for what you offer. Trade shows are events that are targeted towards a specific industry and the people interested in that industry. If you choose the right trade show to attend, you can assure that you present your brand to a receptive audience who can relate to and value your products or services.
Automotive trade shows attract local and international visitors to connect over their similar interests in the industry, which means you can engage with potential customers who you may not have had the opportunity to communicate with previously.
Grow a strong distribution network
As manufactures or suppliers within the automotive industry, your products and services need distribution channels to thrive. Trade shows open doors to building strong networks of buyers and investors that will increase your business success. The face-to-face communication a trade show offers will help you build and strengthen your industry relationships. This level of communication is difficult to achieve through cold-calls or emails, especially if your brand is ready to branch out internationally.
Trade shows are one of the most effective methods of presenting your brand to decision makers, as distributors will attend these events on the hunt for the next product to stock their shelves. When selecting a suitable trade show to attend, contact the organisers about the demographic of attendees to ensure you can interact with distributors and the media.
Generate sales or leads
The real benefit of attending a trade show lies in the opportunity to gather quality leads and close sales within the days of the expo or in week following. Your trade show stand can help you attract visitors and initiate sales by having an eye-catching design and a space to communicate with prospects, such as a table with chairs or a lounge area. Discussing sales at a trade show allows you to invite visitors to experience your product and brand before they commit to purchase. This is an element that isn’t always possible in regular business situations, and those phone calls or emails simply can’t do your products or service justice.
Recent consumer trends reveal that people prefer engaging with a brand to experience what they have on offer before purchasing; trade shows cater to these preferences and help your business encourage sales for effectively.
Promote your product
Trade shows provide you with a large platform to promote your product or service to an audience that may have little or no knowledge on your brand. Introducing a new product at a trade show is a great way to increase your stand’s visitor rate and provides opportunities for communication with prospects. Your trade show stand supplier can develop a display that showcases your products in a creative way.
In August 2018, automotive lighting and electrical component manufacturer, Narva, received the Best Stand Award at the National 4x4 Show with their virtual reality installation and stand-out product demonstrations. This trade show stand helped them stand out at an event. Product demonstrations can be used to attract visitors to your stand where you can follow up with your sales expertise and knowledge to increase buyer interest. Attendees will be naturally drawn to the new and exciting, so be sure to give them what they want and showcase your product.
There’s no denying that trade shows can be a strenuous process involving knowledge, time-management and money. But with the right goals in mind and a well-organised plan, trade shows can provide many benefits to companies in the automotive industry.