Trade fair - pricey but promising

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Bikky Khosla | 16 Oct, 2012
Where to get customers?? This is a big question for every small business and start-up. Whenever I face this question that entrepreneurs ask me, I usually give a quick answer: try a B2B portal, that's the cheapest way to hunt for buyers; but I never forget to add another suggestion: take part in trade fairs. Yes, this can be pricey, but if you can afford it, do it. For SMEs, taking part in one or two B2B trade fairs in a year can prove very useful to get exposure to potential buyers.

Personally I believe that exhibiting at trade fairs is one of the smartest things that an SME entrepreneur can do to attract customers. People from other businesses, who have money to spend and buying authority to exercise gather in a trade fair, which is a reason enough why SMEs should consider participating. But a word of caution here: there may be many hidden costs of attending a trade fair, so try to find an estimate and make sure that your small business has sufficient funds to cover all these costs.

In which fair should you participate? Theses days, there are too many of them to choose from. This demands more caution. Here, I think, a small firm, before leaping into an exhibition, should search the internet for upcoming trade shows, select a few from them that relate to its industry, and then visit these shows. This way, you can have a first hand experience -- if you are confident that a suitable number of contacts attend in a fair, you may consider taking part in next edition of it.

How to attract prospects -- this is indeed another very crucial question. People spend only a limited time on the show floor, and among them only a few are your ideal prospects. So, you have to capture the attention of this select few within a short span of time. To achieve this, I think focussing on solutions is a must. Instead of telling prospects about your "best-quality" product, tell them how the product can improve their return or performance. Make sure to make your trade booth attractive and keep trained people who can convince your prospects.

And never forget to follow-up -- if a prospect asks for more detailed information, make sure that the information requested is delivered fast, preferably within 5 working days of the show. If you don't do that, it is more likely that the prospect will approach your competitors. Ignoring follow-up also creates a negative first impression in the mind of your prospects about your business.

I often hear small entrepreneurs say they can't afford to go to trade shows. I do believe this -- most of our SMEs have to work with a low budget. But it is equally true that exhibiting at a trade show can be a great way not only to generate leads, but also to promote corporate image, network with other companies and business owners, and boost casual contact with current customers. So, if you can afford participating, never miss the opportunity.