Trade shows are a valuable avenue of exchange between attendees and exhibitors. They give exhibitors a powerful opportunity to discuss and demo their products to new audiences, while attendees gain a chance to explore new technologies and services for their businesses. At PackExpo International 2024, there were over 77,500 participants. These participants were able to expand their networks, generate leads, and increase visibility for their brands. The positive impacts of trade shows are vast, yet many are dissuaded from participating due to a few pesky prevailing myths.
Read on to discover the truth about trade shows and how they may benefit you.
Fiction 1: Trade shows are a waste of time—I’ll never find anything valuable.
Fact:
Many refuse to attend trade shows because they assume they will simply be bombarded with an endless marathon of sales pitches. However, in reality, trade shows allow attendees to discover industry trends, network with peers, and find innovative solutions that may not be widely advertised yet. In fact, attending trade shows is believed to be helpful by 79% of attendees in making purchase decisions. Additionally, as many as 77% of executive attendees discover at least one new supplier at a trade show.
Trade shows are designed with the intent to showcase innovation. Many of the products, technologies, or services that could help improve your operations are cutting-edge. Observing your competitors’ offerings, marketing strategies, and customer engagement can provide critical insights to stay competitive in your market. Finally, even if you aren't exhibiting, attending trade shows can increase your company’s visibility, strengthen your reputation, and help position your brand as active and engaged in the industry.
Fiction 2: I can just learn everything online—I don’t need to go in person.
Fact:
While online research certainly has its merits, trade shows offer a unique advantage that online research alone cannot provide. At trade shows, attendees often have the option to experience hands-on product demos, engage in face-to-face conversations, and hear valuable word-of-mouth insights from industry leaders that are not available via the internet. Videos and online descriptions cannot convey complex technology in the same way firsthand interaction can. In-person events like trade shows boost brand recognition by 76%, and about 52% of businesses believe that in-person events provide the greatest ROI when compared to other marketing channels.
Fiction 3: I should only visit booths of companies I already know.
Fact:
If you only attend the booths of companies you already know, you may be missing out on opportunities for innovation. Companies that you have never heard of may have cutting-edge products or services that could solve your business’s most difficult challenges. Moreover, exploring a greater variety of booths will help you get a more macro-level view of emerging trends and market shifts. Sticking to familiar names limits your insight into the industry as a whole. Additionally, many startup and smaller companies attend trade shows to gain visibility. These companies can be hidden gems for strategic collaborations that established businesses may overlook.
Fiction 4: I don’t need a plan—I’ll just walk around.
Fact:
Trade shows are usually vast in both participant numbers and the space they occupy. Since there are hundreds of booths and events, wandering aimlessly through them could result in wasted time and missed opportunities. Popular exhibits may have long lines, requiring advanced planning to attend. A strategic plan helps you prioritize stops and ensures you don’t miss out on important educational sessions that could be highly relevant to your business. Moreover, without a clear purpose, it’s easy to get distracted by flashy merchandise offerings or unrelated conversations. A plan helps you align your interactions with your business goals. Scheduling meetings with specific vendors or clients ahead of time ensures productive conversations.
Fiction 5: If I don’t buy anything at the show, attending was pointless.
Fact:
Many businesses, especially in industries like warehouse automation and robotics, have long buying cycles. After attending a trade show, companies may need months to budget, evaluate, and get internal approval for purchases. Initial connections made at trade shows often lay the groundwork for future purchases. Staying in touch with vendors and nurturing those relationships can lead to deals months or even years later. Attending trade shows provides a chance to gather data and compare different solutions. Even if a decision isn’t made immediately, that information becomes valuable when the buying need arises.