How do you track your trade show competitors?

1 Choose your competitors

The first step is to identify who your main competitors are at the trade show. You can use online directories, exhibitor lists, social media, or industry publications to find out who is attending and what they are offering. You should also consider your indirect competitors, such as those who target a different market segment, offer a substitute product, or have a different value proposition. You can narrow down your list by focusing on the most relevant, influential, and successful competitors.

3 Collect data

The third step is to gather as much data as possible about your trade show competitors before, during, and after the event. You can use various sources and methods to collect data, such as online research of their websites, blogs, social media accounts, newsletters, press releases, or online reviews. Additionally, you can visit their booths to observe their booth design, product display, staff behavior, sales techniques, or marketing materials. You can also talk to other exhibitors, attendees, speakers, or media representatives to get their opinions and feedback about your competitors' products and reputation. This data collection will help you gain a better understanding of your competitors' performance.

4 Analyze data

The fourth step is to analyze the data you have collected and identify the patterns, trends, gaps, or opportunities. To do this, you can use various tools and techniques such as SWOT analysis, benchmarking, and customer feedback. SWOT analysis can help you evaluate your competitors' strengths, weaknesses, opportunities, and threats in comparison to your own. Benchmarking can be used to compare your competitors' metrics with your own and recognize the best practices in your industry. Lastly, customer feedback can provide insights into your competitors' customer satisfaction, loyalty, or preferences and how they differ from yours.

5 Implement actions

The fifth step is to use the results of your analysis to improve your own trade show performance and gain a competitive edge. You can adjust your product to highlight your unique selling proposition, address customers' pain points, or create a new offer. Additionally, you can use your competitors' booth design, layout, or signage to enhance your visual appeal, attract more visitors, or communicate your message more effectively. Furthermore, you can refine your branding, messaging, or content strategy with your competitors' marketing materials, promotions, or social media. This will help you create a buzz, generate leads, or increase conversions.

6 Monitor and evaluate

The sixth and final step is to monitor and evaluate your trade show performance and the impact of your actions. To do this, you can track your predefined metrics to measure progress, results, or return on investment and compare them with your goals and benchmarks. It's also beneficial to collect feedback from customers, prospects, or partners through surveys, interviews, or testimonials. Additionally, you can review your competitors' websites, social media, or online reviews to see how they have changed, reacted, or adapted after the trade show. By following these steps, you can gain valuable insights to improve your performance and achieve your goals.