How Trade Shows Give A Boost To Your Business

Trade shows offer an opportunity for industry professionals to convene to showcase, demonstrate, and engage in discussions about their newest offerings and developments.

Have you ever wondered what sets apart a successful liquor business from the rest? What uncorks the potential for growth and success in an industry as rich and diverse as the world of libations? The answer may lie in participating in the RIGHT trade shows.

Trade shows offer an opportunity for industry professionals to convene to showcase, demonstrate, and engage in discussions about their newest offerings and developments.

Brands often fail to recognize the significance of trade shows. The value of international trade expos is underestimated by companies that see exhibiting at trade shows as a costly hassle, favorable only to medium-sized to large market stakeholders. The “RIGHT” trade shows create an environment for business-to-business (B2B) companies to come together under one roof, connect with like-minded industry peers, meet leads, audit market trends, challenges, and competitors, get feedback, educate, and have a great time. In fact, done right, trade shows are paradise on the top of the funnel and have been an essential sales and marketing tool for centuries.

Get ready to acquire amazing insights into the nuanced world of trade show success. By the end of this blog, you'll be armed with the expertise and resources needed to establish your wine and spirits business as the epitome of distinction within a competitive marketplace.?

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Key benefits of trade shows

Increased Brand Visibility:?

If you’re an emerging brand, trade shows are a must!? Trade shows can generate 3-5 times more leads than other marketing channels. (Exhibit Surveys, Inc.)

Trade shows are known to attract niche audiences who are notably interested in the industry or market that the show focuses on. Thus, your brand is exposed to a highly targeted audience, increasing the chances of reaching potential customers. Many trade shows attract media attention, which will significantly expand your brand's reach and visibility beyond the trade show itself.

Networking Opportunities:

Networking is fundamental for the wine and spirits industry. Trade shows are great places for fostering new connections and nurturing existing ones. Whether meeting with fellow brewers, distillers or winemakers, interacting with sommeliers and mixologists, or closing deals with distributors and importers, trade shows have got you covered!? Face-to-face interactions at trade shows might increase your chances of striking deals and partnerships. Additionally, networking with experienced professionals can offer invaluable guidance. Building relationships with industry experts offers insights and guidance to help you expand your business.

72% of attendees say they are more likely to do business with a company after meeting them at a trade show, according to a CEIR? report.

Trade shows offer tons of opportunities to expand Brand’s professional network and unlock new possibilities for collaboration and growth.

Market expansion:?

Trade shows provide an ideal platform for exploration and expansion. Brands can gain important insights into local preferences, consumer trends, and regulatory environments by targeting niche markets or participating in regional trade shows. This data can then be used to build effective strategies for market entry and expansion.?

How to choose the RIGHT trade show??

Always consider the following points while selecting the trade show that suits your requirements the best.

Set goals:?

Decide if your objectives are to generate leads, close distribution agreements, boost awareness of your brand, or connect with business leaders. Every trade show has a different vibe and demographic of attendees, so it's important to choose ones that align with your goals.

Make a Budget:

Take into account the cost of attending trade shows. These gatherings can be very expensive, even if they offer priceless chances for networking and exposure. Consider costs for travel, lodging, staffing, and producing visually appealing marketing materials in addition to the cost of booth space.

Target Market Alignment:?

Whether it's through geography, industry, or consumer demographics, pick trade shows that draw visitors from your target market.

Customized Approach:?

Choose events that support the goals of your brand; for example, choose distribution-focused shows to close deals or enthusiast-driven expos to increase brand awareness. In addition, investigate the demographics of your intended audience to determine which trade shows will be best for your company. Whether your alcoholic beverages are marketed to a global cocktail enthusiast population or a specialized group of whiskey enthusiasts in a given area, choosing channels that correspond with your target market guarantees that your efforts are directed toward the people who are most likely to find value in and interact with your products.?

Creative strategies, like hosting tastings or organizing themed events, may attract visitors and raise enthusiasm about wine and spirits brands, boosting the return on investment.?

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How to prepare for trade shows?

Here's the list of things to keep in mind, to get the most out of your trade show participation.

Develop a vendor plan:

Depending on whether you are coming as a speaker, vendor, participant, or all three, your strategy will change. According to Suzanne Webb, a freelance marketer who is currently providing consultancy services for the Spirited International Spirits Trade Tasting & Show (February 27, 2018) in Santa Rosa, California, "The good thing about trade shows is they offer facetime—a chance to get up close and personal." They initiate both the conversation and the sale. They outperform other passive forms of outreach like phone calls, emails, and the like.

Know your purpose:

Suzanne Webb states that Participants benefit from a convenient one-stop shopping experience, making product discovery and education easier. She suggests that group members keep to a brief to-do list and focus on specific activities for huge gatherings. Webb notes that speakers frequently have a strong desire to impart knowledge and acquire new perspectives. For optimum impact, George?Christie suggests that participants make introductions, interact with others, carefully arrange their sessions, and take notes.

Sid Patel, the CEO of Beverage Trade Network advises, If someone is knowledgeable about their industry but does not have a booth, leading or supervising a session or participating in a panel discussion could be helpful. Patel believes that this method provides worthwhile experience. He draws attention to the fact that content is becoming increasingly important to organizers and emphasizes the chance to provide insightful knowledge on an interesting topic. Patel says that engaging in meaningful interaction with other attendees during sessions can provide benefits as well, since the person sitting next to you may be able to offer unanticipated chances.

Maximize ROI:?

After the trade show, follow-up strategies that work, including customized emails and phone calls, can help nurture leads and turn prospects into loyal clientele. Additionally, companies can evaluate the value of their trade show participation by using indicators like sales growth and brand awareness to measure performance.

CONCLUSION

Trade shows have an impact that goes beyond short-term outcomes; by promoting relationships, stimulating innovation, and broadening market reach, they help wine and spirits companies grow and succeed over the long term. Businesses may strengthen their brand and prosper in an increasingly competitive environment by taking advantage of the opportunities provided by trade shows.

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