“Should we go to every trade show every year? Some of these shows cost us well over $7000. The one show that we want to skip this year is part of an association. They have about 300 members. We know just about all of them and know what they are using. Of course, a bunch of them use our product.“
Anyone who has attended a trade show knows why this question is being asked.
Avoid the knee jerk
Our thoughts first jump to the time, trouble and expense of trade show travel, time away from “real work”, conference center shipping and logistics, being on your feet all day for three to five days, skipping meals and sleep as you work 6:00 am to midnight while your friends, family and co-workers think you are “vacationing” in Orlando or Las Vegas, much less the general aggravation of things like paying $300 to rent a 10′ x 10′ piece of cheaply-made, unpadded carpet.
Trade shows can be a hassle. They require a sizable investment in time, money and people to participate, so the natural response might be “Let’s think of reasons not to go.“
Don’t do that.
Why go when you own the market?
If you don’t go to a show or association meeting because you feel you own the market, what message does it send?
Here are a few possibilities:
“This vendor doesn’t care enough to show up and talk to us.“
“This vendor only shows up when they think they can close a bunch of deals.“
“This vendor takes us for granted.“
If your competitors are there – these are some of the ways they might position your decision not to attend, or they might simply say “Think about why Company A wouldn’t show up.“
Think about the show from the point of view of the attendees who invested in your products and services. Will your absence tell them you’re taking them for granted? Remember, these people helped you gain your dominant market position by investing in what you sell. By attending these events, they’re identifying themselves as the ones who care enough about their business and their industry to step away from the office, learn what’s new, learn what is (and isn’t) working in their industry and brainstorm with peers and vendors about solutions.
Do you prefer to listen to the ones never involve themselves in such things?
Seth calls these people your tribe. Dan calls them your herd. The concepts are different, but their needs are similar. Herds require attention and care. Your clientele does too.
I don’t refer to “herd” with the mindset that your clientele is a mindless bunch of cattle. Instead, consider “herd” from the viewpoint of a rancher. How do they attend to their care, oversight and feeding?
Do they let the herd eat what they want? Deal with the weather without concern? If a predator appears, do they simply let that predator kill off a few of the herd? If someone shows up to rustle part of the herd, do they sit back and let it happen?
Ranchers provide the right forage and plenty of fresh, unfrozen water, while protecting the herd from predators, rustlers and other threats.
They care for the members of the herd because they know each member of the herd is returning a ROI. They know what it costs to lose a head. Do you?
While members of a cattle herd don’t choose to be there, clients can choose to leave, as can tribe members. The care and attention you provide has a great influence on their choices.
What opportunities will exhibiting at a trade show present?
Find out what concerns your market today – from the current perspective of the leaders in your market, rather than from insights and perceptions that may have been formed years ago.
It’s an opportunity to talk with someone who uses another vendor’s product. If they won’t switch to yours – isn’t it important to know why? A face-to-face, eye-to-eye discussion may yield critical insight, or it’ll confirm that those people aren’t your ideal clients. Either way, it’s valuable info.
What will you gain from a stronger relationships with your clients and other vendors in your market?
Trade shows are unique gatherings of the best clients, prospects and vendors. They’re a big opportunity – if you work shows strategically and execute them with a plan.