A client of mine recently finished her second trade event. It’s such a huge journey of planning, preparing, presenting, pitching and patiently following up. Though the rewards could be great.
Trade exhibitions are an important part of marketing and committing to your business, expanding and taking it to another level. Not sure if you’re ready?
Here’s 8 Questions to help you decide if you’re ready to exhibit with a Trade Show:
1. Are you ready to wholesale?
Wholesaling are a wide step so you need to be retail ready before you consider it. I talk much more about that here. If you answer yes to the question and you’re comfortable dealing with buyers and retailers then you’re willing to move on to the subsequent questions.
2. Are you able to produce bulk of your product in a specific time frame?
This is about production timelines and deadlines. Orders might be a lot larger than one off customer purchases. Managing your inventory and getting delivery close to the first order is key.
3. Does your pricing fit for wholesale and allow you to generate income?
Wholesale is about scaling your company, so think higher number of product minimizing pricing. A difficult guide to your wholesale costs are half of the shop price you charge customers in your website or on etsy. Getting the pricing starting from the beginning is vital to allow your company expand into wholesale afterwards if you wish to.
4. Excuses have you employed your research?
It’s important the teach you exhibit at reflects your brand and is the right fit to your customer. Could be the show attracting unique top end finds or cheap and cheerful offering unbeatable value? Also consider your allowance, the size and scale of the event as well as your available resources for manning the stand. You can go to events you’re considering as a potential exhibitor first and often organisers are happy to give an excursion free of charge.
5. What’s your goals for exhibiting with the tradeshow?
Although there are numerous benefits to exhibiting at a show it’s necessary to identify your main aim. Planning for the show then becomes less difficult and also your post show evaluation is measured against some specifics. Do you want to get a minimum of 10 orders, network and meet retail leaders, get comments from customers or produce a certain amount of prospects?
6. Perhaps you have worked out your allowance?
Exhibiting at the show isn’t cheap, and apart from the actual stand hire you have to include other extras. Be sure you plan in advance your costs and will include travel, product samples, printing -brochures, business cards, display material etc .
7. Where does your product fit in the buying cycle?
Most industry events open for registration at least 6 months prior to launch date so be mindful of the date with the show and exactly how far out ahead of time you’ll be working. As an example the In Style exhibitors display their Christmas stock in August.
8. Maybe you have a platform offered to promote your show participation?
Even though event hosts can have their own marketing campaign it’s important it is possible to promote and attract focus on your presence too. This may include mentions inside your newsletter, blog posts, facebook mentions, your stand location, personal invites to existing customers/retailers.
So these are generally some things to take into account before checking out exhibiting at a show. Next on this Trade Show series we’ll glance at the during and after show guidelines.