subject: How to Use a Trade Fair for Your Wholesale Business [print this page] How to Use a Trade Fair for Your Wholesale Business
A trade fair can be a great forum to build, showcase and even expand your wholesale business. By definition, a trade fair or expo is an exhibition that is organized for companies within a specific industry to showcase and demonstrate their own as well as examine rival products. It is an excellent opportunity to study trends as well as find new customers / retailers. If you are willing to network, there is an opportunity to get great new ideas, meet new people and create more value for your business. This article examines some of the `must- dos' at any trade fair to give a boost to your wholesale business.
A trade fair is an excellent opportunity to market your products, services, size and other competitive advantages to the attending public. It could be other wholesalers, retailers or even end customers depending on the kind of trade fair it is. Make sure to create and stock the relevant kind of collateral for targeted audiences. End customers will not want to hear what you want to say to a retailer and vice versa. Most people make the mistake of handing out old, outdated or worse irrelevant brochures to the attending public.
A trade fair often requires some staff manning the booth for the duration of the show. After investing in the stall display, collateral as well as participation fee, many companies go on to send the most junior staff to stand at their stalls. This is not a good idea. The person in charge is the face of the company and sending somebody new or junior does not speak well of your commitment. If you cannot spare somebody senior for the entire day, try rotating staff so that you have knowledgeable people for the busiest portions of the day.
While all the participants do their best to collect cards and exchange contact information, few take the time to follow through in time. As time passes, people forget and all the information/ leads collected so carefully lie in some corner of the office, forgotten. Create a task team that reaches out to all the people contacted and ascertains possibility of a sale or partnership as the case may be. Even a simple thank you note can go a long way in creating a good impression.
Do some planning ahead of time before a trade fair. What do we need to find out about the competition? Is there a specific trade analyst or press person that is expected to attend and on what date? Could we somehow leverage this show by sending out invites to our customer database? These are just some of the questions that if asked can help create an actionable plan which will yield real results.
