The importance of international trade fairs
Attending international trade fairs is a crucial part of your business internationalization project.
In the era of Internet and new technologies, international trade fairs are still an important opportunity for all those SMEs planning to access new markets.
These companies’ size or budget does not often allow them to create an international sales network, so they can benefit from the potential that international events can offer:
Promote their products or services
Promote their brand or corporate image
Interact directly with all the market participants they are targeting (potential customers, competitors, new business partners for future collaboration)
Maintain and cultivate relationships with potential local customers
Conduct market research. Meeting face-to-face with customers helps shape a better idea of what their needs and issues might be.
The benefits are, therefore, several.
However, it is important to plan thoroughly and well ahead of time your company’s participation in this type of events and consider all of the following aspects:
Once you know what trade show you wish to attend, initially become familiar with it as a visitor: this allows you to understand if the event is actually appropriate to your industry sector, your company’s products or services and the market you are planning to reach. It is also recommended to read over the catalog of previous exhibitions to find out which exhibitors might participate next time.
Set the goals you want to achieve (strengthen corporate image, promoting new products, close sales).
Select the products to showcase.
Prepare all the promotional and informational material (brochures, catalogs, technical documentation, gadgets, etc.).
Handle the logistics for all the people, products and promotional material that will have to be at the event (airline tickets, hotels, transport of the goods).
Prepare the CIF price lists for all main destinations.
Gather the necessary information regarding the bureaucratic and customs formalities required to import the products into the country that will host the event.
Launch a pre-event promotional campaign to announce as many contacts as possible you will be attending the event. Also, send out invitations to inform them about any special offers they will be able to benefit from (free tickets, press releases, appear on industry periodicals ads).
Follow-up actions. Actively stay in touch with your visitors and evaluate any possible improvements for your products’ marketing.
To recap, international fairs are an excellent channel for your business internationalization and an important opportunity many SMEs can benefit from, but they need to be part of a wider strategy addressing your entire company and its long-term business goals.
Our firm is available to further discuss your internationalization projects. Please, feel free to contact us.