Why trade events are still of value to small businesses

trade events

In my role as Marketing Manager for Life Instyle, I get a lot of people asking if trade events are still important – especially for small businesses. My answer is of course a resounding yes! The role of trade events and the benefits they bring have been proven time and time again – and the number one reason our attendees visit the event is to make the connections with the industry that they can’t do from behind a store counter.

At Life Instyle, we regularly see the value retailers get from the tangible aspect of sourcing product direct from the wholesale suppliers. On average, 66 per cent of our visitors purchase at the event, with 89 per cent also intending to purchase after the show. The feedback we consistently receive is that the fair is extremely important to our visitors – and we see 13,000 visitors through our doors every year.

A platform for sales is incredibly important for any small business, so the above is evidence of how vital trade shows are as part of a marketing mix – but they’re so much more than that. Here are three key reasons for any small business to consider taking part in a trade event:

1. They’re targeted

Trade shows are a powerful platform because of how targeted they are. Unlike large-scale consumer shows that will often attract large crowds of disparate demographics, trade shows relate purely to one industry, or even one section of an industry, so the people walking the floor are qualified and curated as legitimate trade buyers relevant to your business. They’re interested, engaged, motivated, and they know the value that comes from the time spent away from their business to see the latest from the industry. That means your business has the potential to dramatically increase your customer database, plus it provides the opportunity to do business on the spot.

2. Trade shows give you industry insight

Bringing together a huge cross section of an entire industry not only opens your business up for incredible branding and sales opportunities, it also allows you to get a really clear picture of where the industry is at. Take advantage of any educational opportunities, utilise lead scan technology to record all your connections (our business provides a free app to all our exhibitors to facilitate this level of networking), and also make room in your schedule to walk the floor and check out your competition. Take note of which stands are consistently buzzing with customers – and work out why. Then, see if the reasons are strategies that you can apply to your own business. Building relationships with your peers can be another benefit of trade events in order to support other small businesses on the same path as you.

3. They offer a great platform to build your brand

Whether you are introducing your business to the market or are an established company, exhibiting at a trade event tells the industry that you are serious about what you do, and that you are a reliable trade partner. Be smart about where you want to be positioned at the event, and think about which brands you’d like to be aligned with. Equally important is the design of your stand – make sure it immediately speaks to your potential customers in case you are not able to.

A final tip – you never know where that next conversation will take you so always remain open, switched on and excited for what you do – buyers will sense that and want to work with your brand.

Alicia Bourke, Marketing Manager, Life Instyle