Our work is interesting in the sense that due to our constant interaction with Finnish export companies, we get to hear the latest news from each industry practically in real time. The global economic downturn has its impact on Finland, and this has caused many companies to seek ways to cut costs and make their operation more efficient – while at the same time looking for new market areas and seeking to increase their visibility at the current markets.
What, then, is the function of trade fairs in this equation, and how can you increase potential customers’ awareness of your company by exhibiting at one? The answer to this question is simple: choose the right event, and be prepared to find there everyone that matters.
Today, the importance of personal communication and networking is being touted everywhere. Take the US as an example. With a little luck, all you need is to get to know that one right person, and in the true fashion of American hospitality, he or she will be only too happy to introduce you to the key people who can open the doors for you – and voilà, before you know it, the doors to the US are open!
When a company starts seeking costs savings, the first thing to be cut is quite often the marketing budget. Yet it might be a good idea to think again before cutting on trade fair expenses. If sales are lagging, instead of staying inside the office and increasing sales calls, it is better to go out, network and get new contacts – for which a trade exhibition is an excellent setting. Getting sales deals will be easier if you don’t let the difficult situation weigh you down and keep you from moving forward.
A while ago, I had a chat with a company whose cash flow had recently been weak, order books empty, and the whole future uncertain. Faced with this situation, they had decided to fit in their budget a participation at the most important event of their industry. They resolved to go there with a bold stand design, a good stand location, and the right attitude!
While we at Entre took care of the practical arrangements for them, they themselves were able to concentrate on the substance: inviting visitors to their stand, booking meetings, doing market research etc. At the fair, this company did not shy away from striking conversations with passers-by, and as a result, by the end of the fair they had dozens of new contacts with whom they started negotiating business.
The investment paid off: today, the future of the company seems bright again, and the order book is full.
All in all, before making a rash decision to skip trade fairs, think again – instead of seeking quick savings, in the long run it is often wiser to get out and actively seek more sales.
This post has been originally posted in Finnish 9.2.2015. Translation by Annemari Kettunen.