
Many companies and more recently niche-oriented start-ups feel intimidated by the big trade show. After all, these events are game-changers when it comes to trends, innovations and business opportunities. It makes sense for the smaller brands and businesses to think they don't have what it takes to showcase their products. Most feel they will be crushed by the competition or outshined by the big brands. However, these fears are unnecessary as one of the goals of trade fairs is to introduce the newcomers into their respective industry. Let's bust some myths and show you why your company should attend the big European trade exhibits.
Myth Number 1 - Our Company Can't Compete with the Big Brands!
All companies started small, nobody created a multimillion-dollar business in one night. The things that matter are your products and services and the innovations you want to introduce to your niche. Around ⅓ of all trade fair participants are little companies and start-ups, as these types of exhibitions are the perfect place to showcase what you offer, make some valuable contacts and find new clients. If you want to grow your brand, it is absolutely necessary to put yourself in the spotlight and make your industry notice you. In addition, some trade fairs even have a segment from their program dedicated to providing exposure for the smaller businesses.
Myth Number 2 - We Can’t Make a Profit from Our Attendance at the Trade Fair!
How much you will gain from your participation in an international trade show depends solely on you and the people running your booth. There are many ways in which you can profit:
- Finding new business partners;
- Gaining exposure and running a successful self-promoting campaign;
- Signing contracts with new suppliers;
- Growing your client base;
- Making valuable contacts and starting new business relationships;
- Direct selling some of your products/services.
Not to mention the fact that you will gain valuable insight into your competitors, the new trends in your niche and the latest innovations. One of the main ideas behind fairs is to increase the profits in a certain branch and help the trade. It is literally in the name “trade fair”.
Myth Number 3 - Anyone Can Sit in the Booth
Your profits depend on the qualities and qualifications of the people you put upfront. You have to be very careful when choosing who is going to represent your business in your booth. A good idea is to train your staff in advance, giving them clear instructions on what is expected of them. Even then, some people don’t have the right attitude for this job. The ideal candidates for a trade representative must:
- Have a previous retail experience;
- Know how to speak to clients and tend to their needs;
- Understand how your products/services work and what is your company goal.
- Have a positive attitude, with excellent people skills.
- Be energetic and ambitious;
Take your time picking the right people. It is one of the most important decisions that can make or break your trade fair campaign.
Myth 4 - There Is No Point in Attending Since Our Company Is Not Based in Europe
The European Union is the largest single market in the world, and even in the state of a global pandemic, it is still generating a significant amount of profit. If you want to grow your business and attract international clients, you need to be noticed here.
To put that in perspective, you can check the stats on the German trade fairs for 2018 according to AUMA:
- Over 100 Billion Euro in initiated business deals, investment and procurement programs and joint-venture initiatives
- 160-180 trade fairs with combined stand space of 7.1 million m²
- 10 million visitors
These are the figures only for Germany. If you add France, The United Kingdom, Spain and the rest of the countries in the European Union, these figures will easily triple . Imagine all the possibilities you might be missing and start planning your next trade fair attendance.
Myth Number 5 - This business trip will be expensive.
It depends solely on how well you plan the whole thing and whether or not you use a travel service provider. These companies can organise your trip from start to finish finding the most suitable accommodation options. Set your budget and contact your travel coordinator to discuss what you need. Even if your trip is last-minute, there are still some discounts from which you can benefit. Working with such companies will ensure you won’t go over budget plus you will gain a level of protection when it comes to rebookings and cancellations. Thanks to its many connections and successful partnerships Fair Point can offer you even more travel and accommodation benefits. Send us a request and our consultants will create a tailored offer specifically for your needs and budget.
Myth 6 - All Trade Fairs Are the Same
This is simply not true at all. Every exhibition has its own diverse audience and participants. Not to mention the different events happening during the fair. Yes, you might encounter some familiar faces, but trade fairs gather everybody who wants to be somebody in their respective industries. That is why your marketing strategy has to be tailored for every exhibition you take part in. Don’t use the same booth decorations and advertising materials. Add something new each time.
Myth 7 - There Is Nothing Special about Trade Fair Marketing
Trade fair marketing is a special type of marketing that allows you to promote your brand, gain clients and build successful partnerships. Having the best booth or pretty advertising materials doesn't guarantee you a profitable outcome. You need to be able to find leads and capture the attention of big investors. The most effective way of learning how to transform your fair participation into profit is by trial and error. Try different strategies and negotiation techniques, don’t be afraid to interact with people and stay positive.
Myth 8 - Trade Shows Are Just a Big Party
It may seem that way if you are simply a spectator. After all, everybody is smiling, the atmosphere is pumped, and conversations are buzzing everywhere. However, behind it, sits a lot of work and sleepless nights. Each participant is there to showcase their products and services, to attract new clients and create strong partnerships. If you are under the impression that the party starts after working hours , we have to disappoint you. Once the busy day is over, the business meetings and negotiations begin.
Myth 9 - Virtual Trade Shows Are a Waste of Time
An important part of trade fairs is indeed the possibility of free in-person interaction, and moving everything online is a bit inconvenient. However, now more than ever, the business relies on virtual trade shows. The bans surrounding the COVID crisis made things harder for everybody. Online exhibitions allow different companies to meet and present their work in a safe and controlled environment. If you want to make your brand shine and show your industry you are still in business and thriving, virtual trade shows provide you with the ideal platform.
Myth 10 - You Must Always Be Located in a Top Spot
Yes, the prominent location of your booth is important, but it’s not everything. Think of it that way, most of the visitors already know where to find the brands they are interested in. So you just need to make sure your potential clients and partners know your location. Issue a press release informing your audience your company is taking part in a trade show. Give them the information beforehand, and you have nothing to worry about.
Another thing you need to consider is the price of a top location. If you are a small business or a start-up, your budget may not be able to afford it. In that case, invest your efforts in making your booth easy to spot - wear memorable uniforms, rely on bold colours, produce an eye-catching display. Use every trick in the book to make yourself easily distinguishable from your competitors.
Myth 11 - European Trade Fairs Are Not a Safe Place Due to COVID
Thanks to the efforts of the EU, the trade fair industry is getting back on track. There are strict rules and regulations regarding which ensure the safety of all participants. Large gatherings and special events have been suspended, and some exhibition organisers have created virtual platforms to minimise the risk of spreading the virus. You have the option to choose how you want to participate and when. Check out a few of the biggest trade fairs in Germany this fall and see some of the upcoming events.
A Myth That Actually Came True (Sort of) - Virtual Trade Shows Will Take Over
As the technologies developed further and further, most companies worry that someday trade fairs will be held only online. That the face-to-face contact will be lost forever, and you will be forced to sit in front of a screen if you want to present your brand. Well, this year this all became a reality, and the results were surprising. The businesses are adamant to get back into the show halls. The online platforms are sort of effective, and a decent compromise during the crisis. However, people yearn to return things as they were. Yes, virtual trade shows represent a possibility, but they will never entirely take over the live events.
If you are ready to attend your next trade show, let us help you with your planning and accommodation. Thanks to its numerous partners, Fair Point GmbH can offer you exclusive deals, safe booking and cost-efficient business accommodation plans. If you schedule your next trip a couple of months in advance, you can save up to 30% from the price of the hotel. This is especially beneficial for smaller companies, startups and non-profit organisations, as it allows them to save a significant portion of their budget.
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