Consumer exhibitions and events risks and benefits

Consumer exhibitions and events risks and benefits

There are always risks and benefits to exhibiting at a consumer exhibition,which will differ per event. Here are some of the risks and benefits:

Beneficial business

We know that repeated sales instil brand loyalty amongst consumers and also assist in networking – consumer expos often bring like-minded attendees together. The potential is there for exhibiting companies to increase their customer base and to promote their services and products.

Consumer shows provide an advantageous ground for exhibiting companies to build profitable alliances, to build their customer databases and to form new relationships.

Furthermore, much is to be gained from promoting the company’s products and services in person, within an environment that differs entirely from that of the usual retail or online scenario.

Consumer exhibitions are therefore a great way to advertise and create brand awareness. The audience may be diverse, providing exposure for exhibitors to promote their products and services to a broader group, some of whom may not have been aware of a particular brand before attending the event.

Risky business

Of course, it is important to research the exhibition before you sign up. Consulting with a business advisor will be beneficial. There are risks involved and it is better to be aware of these risks in the planning phase, some of which involve:

• Time: The exhibition will require the exhibitor’s time (and in many cases, the team’s time).

• Costs: Travelling to the exhibition can be costly.

• Display or stand exhibit and design related costs: These can also be

costly if not budgeted correctly and controlled.

• Competition: It is likely that there will be a fair amount of competition at the show.

• Wrong audience: Choosing the wrong show to exhibit the company’s products or services can result in displaying to the wrong audience.

• Poor promotion – suddenly the costs of attending the exhibition outweigh any revenue gained.

The 5 Ps: proper planning prevents poor performance

Having enough funds to cover the attendance, the design, the display and other associated stand building costs, is critical.

Well in advance, it is important to:

• Work out how many prospects and customers are actually required to be obtained in order to generate a return on the exhibiting investment and have set objectives in achieving the same.

• If a first timer at the show – visit the show first, before exhibiting to establish that a suitable number of contacts will attend that are appropriate and focused.

• Work out a way to capture people’s attention by way of effective stand design and display – to stand out creatively and memorably and over and above the competitors and critically, use an EXSA accredited stand builder to realise the stand.

• Have sufficient product information, artfully and strategically illustrated.

• Know how to convert customer leads into prospects.

• Make sure that the team’s sales, product knowledge and people skills are top notch – exhibitor training is essential.

• Learn more about marketing innovation.

• Follow up quickly post show.