How do you use trade show research to identify and evaluate new opportunities and threats in your industry?

1 Before the show

The first step is to plan your trade show research goals and strategies. What are the key questions you want to answer, the problems you want to solve, and the opportunities you want to explore? Who are the main players in your industry, and what are their strengths and weaknesses? How can you differentiate yourself from them? What are the current and emerging trends, technologies, and customer needs in your market? How can you use trade shows to validate or invalidate your assumptions and hypotheses? To answer these questions, you need to do some homework before the show. Research the exhibitors, speakers, attendees, and media outlets that will be present, and create a list of the most relevant and interesting ones. Prioritize your targets based on your goals, and schedule appointments or meetings with them if possible. Prepare your questions, elevator pitch, and marketing materials, and practice your communication skills.

2 During the show

The second step is to execute your trade show research plan and collect data. This means visiting the booths, attending the sessions, networking with the people, and observing the behaviors that interest you. Use a variety of methods to gather information, such as surveys, interviews, demos, feedback forms, business cards, brochures, photos, videos, and notes. Be curious, open-minded, and respectful, and ask open-ended questions that elicit insights and opinions. Listen actively, observe carefully, and record accurately. Don't forget to follow up with your contacts and thank them for their time and information.

3 After the show

The third step is to analyze your trade show research data and draw conclusions. This means sorting, organizing, and reviewing the information you collected, and looking for patterns, gaps, opportunities, and threats. Compare your findings with your pre-show assumptions and hypotheses, and see if they confirm or contradict them. Identify the key takeaways and implications for your business, such as new customer segments, product features, competitive advantages, market trends, or partnership opportunities. Evaluate the potential value and feasibility of each opportunity or threat, and prioritize them based on your goals and resources. Create an action plan to pursue or address them, and assign roles and responsibilities to your team.

Trade show research can help you gain a deeper understanding of your industry and your position in it. It can help you discover new opportunities and threats, and evaluate them objectively and strategically. By following these tips, you can make the most of your trade show research and turn it into actionable insights for your business.

4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?