Are Trade Shows Necessary for Your Small Business?

A successful business can’t form in a vacuum.

In other words, for a business to thrive and survive it has to get out into the world and “strut its stuff.” Nowhere is this more important than with startups and small businesses.

However, tough economic times have many businesses reviewing how their marketing dollars are being spent. As business owners seek more ways to increase ROI, activities that generate a higher return are kept whereas ones that don’t provide any traction are on the chopping block.

A trade show is considered to be an expensive necessity for many industries, but for a small business like yours, is it worth it?

Regardless of the industry you’re in, it’s a pretty safe bet there will be some kind of trade show occurring within the next several months. Whether you’re going as an observer or as an active participant with a booth, your trade show experience can become a major boost for your business.

Here are some of the focused benefits you’ll get from participating in a trade show.

Finding leads

You’ve got a product to sell. You know who your end customer should be. However, there are some very important middle men you’ll need to find before your product ends up with all those valuable customers. These would be the distributors and other partners that could benefit from having your product as part of their catalog.

Suppose you’ve come up with the greatest flavour of popcorn. Wouldn’t you want to go to the trade show where all the movie theatre executives will be hanging out?

A trade show is the most efficient method where you’ll find your leads all in one place.

The freebies

It’s one thing to describe your product or service on your website and quite another to be able to provide an actual demonstration or sample. Participating in a trade show lets you put your product into the hands of decision makers who can be placing orders the next day.

Yes, it’s a major investment to give away samples but it’s an investment that can pay back in very positive ways.

Build your brand

A business is built on its brand.

Just like the adage – if a tree falls in the forest, but, if no one is there to hear it, does it make a sound?

If no one is aware of your company then it can’t gain a foothold. A trade show will be plastered with banners, bags, T-shirts and other give-aways that have all kinds of company brands imprinted on them. Get into that game and you’ll be able to spread your name in front of the people that matter.  

Scope out your competitors

You’ve got competition. Yes, you like to think that your product is truly unique and the only one needed by the consumer.

The harsh truth is you will always have competitors. Guess where they’ll be?

At a trade show.

This is a perfect opportunity for you to check out the competition. You’re not spying as much as seeing what they’re offering and how your product is different. Who knows? Seeing what the competition is up to might inspire you to make some beneficial changes to your business.

The press

Trade shows are covered by the media. Depending on the show and industry, that media could truly be global. This is a wonderful chance for you to get some very positive exposure. Seek out the media reps and offer them a demonstration/sample.

Don’t wait for them to come to you!

Tips For Optimizing An Email Marketing Campaign

While it is true that traditional mail advertising circulars are still an effective way to reach a customer base, email marketing can truly take your business global. An affective email marketing campaign can improve your company’s chances of increasing its customer base and bottom line. Most of the email addresses you’ll be using in your marketing campaign could be willing recipients. In other words, these folks have signed up for the information you’ll be sending them. The goal is to optimize that email marketing campaign and insure you’ll be creating a positive experience for those customers. Here’s how you can accomplish that goal:

Reconnect With Existing Leads

While it is important to constantly be on the prowl for new lead generation, it is equally important to stay in positive contact with existing leads. You might have been sending them newsletters or special offers without much feedback. We are quickly developing into a society where everyone gets to share their opinion. Why not invite your leads to share what’s on their mind about your business? Ask them about their own needs in the form of a quick survey. Invite them to check out a new “exclusive” offer and provide their comments. This could also be a way of sorting out who is really a “hot” lead versus a “cold” lead.

Use the Power of the Referral

Positive word of mouth is extremely valuable for any business. You can boost that along by asking your existing customers to refer new business you way. You can entice them with a special offer for every referral they send your way. On some level, this is doubling your email marketing when you can get existing customers to do the work for you!

Share Your Business Story

Everyone has a story. The history of a small business is what gives that company its personality and charm. Sharing the origins of your company’s start-up is an effective way to build up trust and familiarity with your customers. You’re no longer just a “shop around the corner” but instead you’re part of the neighborhood. You’re family. That kind of sharing can generate positive feelings for years to come.

Create a Strong Landing Page Lead Magnet

Just as the title implies, a lead magnet is going to pull new customers to your website with a specific offer or benefit. A lead magnet can be a piece of fresh video content or insightful report used to support your business. It’s all about keeping the content on your landing page fresh. Give your lead something new to view, read or participate in.

Provide a “Sample”

Who doesn’t like to get something for free? Grocery stores recognize this by offering free samples of tasty treats. You can provide the same enticement in the form of a free trial registration or demonstration of your product or service. This is a perfect opportunity to education a new customer base about what your company is offering. Once a new customer has been given a “free sample” they often buy the product for themselves!

Win Bigger Lead Generation and Stronger Branding With Contests

Getting the word out. That’s what every business, big or small, needs to accomplish if they are going to achieve success in a competitive marketplace. Having access to social networking sites and email lists have changed the very nature of business. No longer are companies depending on print ads or traditional media outlets to get the word out about their products. However, just because a business has access to those networking and email tools doesn’t mean they are always being utilized properly.

A typical web surfer has a very limited attention span. That’s why they need to be hooked through added incentives to stay longer on a website and come back again. A fun contest can earn your business bigger lead generation and stronger branding possibilities. A contest also affords the opportunity to optimize your marketing dollars for the maximum return on investment. Consider these benefits for creating contests:

Contests Generate Buzz

Even a local business who offers a special prize package of goods or services can benefit from a contest. The very word “contest” invites customers to take a second look. “What can I win?” and “How do I play?” are the two primary concerns. If a business can provide engaging and simple answers to those questions the chances increase for a wide participation among potential customers. Bottom line: everybody loves to win. Why not tap into that fun for your own business?

Stronger Branding Potential

If you embrace the “getting the word out” philosophy of attracting new customers then a contest can serve that purpose on many levels. You don’t even have to offer a prize that is associated with your business. For instance, a dry cleaner could offer a free iPod in a customer raffle. If that brings in new customers and generates new business then the prize is secondary. You could also offer an essay contest asking why your product makes a difference in someone’s life. This is a perfect way to build up traffic to your site and create a valuable log of positive testimonials and reviews. All of that is going to improve the brand.

Building Big Lead Generation

Sharing an email address is as commonplace as handing out business cards. With a contest you have the potential to gather a huge influx of email and other data that will be in your control. Think of it this way: every person who enters your contest with an email address is a potential new customer that you can later target with advertising. A growing lead list is gold!

Before diving into a contest for your business you should check out all social media rules and regulations as well as any federal or provincial laws regarding these types of activities. As long as you’re working within those guidelines there is no reason why your contest can’t be an ongoing event. Consider the millions of lottery players who happily fill out their tickets every week for a chance at the big prize. Yes, everybody loves to win. Now your business can cash in on that attitude with its own lead generating and brand building marketing tool.