Trade fairs-The wheels of modern economy

The modern day economy is very unpredictable. The great economic meltdown of the recent past is one of the biggest examples of the fragile nature of the economy. Not only it is difficult to predict the outcome of a certain global events on the financial wherewithal of a country, it is even harder to guess the market response of a general trader to some change in the economic climate. But amidst all this unpredictability and guessing games, lies the ultimate solution to these problem - trade fairs.

A trade fair is a place where global suppliers meet international buyers. This gives all the participants a chance to not only access the wide variety of products on display but also gauge the current industry trends. A trade fair provides a direct insight into the outlook of the industry and the people who are involved in it. By visiting a fair, one can give his/her business a major boost. In the light of all these advantages that the trade fair offers, it won’t be wrong to infer that they are like the wheels of the modern economy.

Some direct advantages of trade fair on which the economy depends upon are listed below -

Great meeting place between economist, decision makers and major industry players - The fact that a trade fair is the ultimate gathering place of all the significant players in the industry is very important for the economic needs of a country. Without such meetings, there will be a certain void between the supply chain resulting in lack of promotional campaigns and industrial revolutions. Hence, trade fairs help in bringing the pillars of economy closer to each other.

Seminars and conferences that decide future of industry and economy - The future of the industries and economy are decided at the conferences that take place at the trade fairs. Plans for future and their implementation are chalked out in advance at these trade events. Such events result in fool proofing the future which gives the economy a major boost.

A place to understand international trends and tastes - A trade fair brings the local players closer to international buyers and sellers. This gives them a chance to cater to the needs of these international companies and generate vital foreign revenue. The fact that foreign investments are indispensable to the growth of national economy makes the organization of international trade fairs extremely crucial.

The sheer impact of trade fairs hasn’t gone unnoticed by the government. The government officials and economists along with trade associations work in close quarters to extend economic reach of their country. In the light of present trading scenario, it won’t be an exaggeration if we say that the trade fairs are the wheels on which the modern economy rides.

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Trade Fair & Fair Trade

Trade fair is a specialized event dedicated to a particular industry and acts as a platform for bringing together buyers and sellers in different regions, under one roof. The product manufacturers, dealers, resellers, importers and exporters are the main participants in a trade fair. The first consideration for organizing a trade fair is its feasibility. A market analysis needs to be done to get an idea of the response that a trade fair will get, once it starts. The interest shown by the potential visitors and exhibitors decides the success or failure of a trade fair. Just like a well-organized trade fair can benefit the entire industry, similarly fair trading can prove vital for the reputation of companies.

Fair trade is not something that can be organized but it’s a relationship between producers, sellers, and consumers based on the principle of equity within the exchange of goods. The correct treatment of all the producers through a transparent system is needed to achieve equity. The whole concept of fair trade is created to provide justice to all sections of the trading fraternity.

The words trade fair and fair trade may sound very similar to each other but there is a considerable difference in what they imply. On one hand we have trade fair, which is a visual representation of the platform intended to sell all the tangible commodities and on the other, we have fair trade which is an invisible but moral obligation. A product may gain immediate attention through a well-organized trade fair but its success over a long period of time can only be guaranteed if the creators of the goods are fair in their trade i.e. if they demand reasonable amount of money for the items sold. In the modern times, trade fairs are very important for creating a niche in the market. If a company is well represented at a global trade fair, it can open up doors for seamless overseas trading opportunities.

Launching of new products in front of potential buyers is much more convenient if it is done through a trade fair. But in search of immediate success, one must not forget the basic principles of trading. If dubious methods are used in promoting the product, it will definitely result in the depreciation of the brand value. The repercussions of such ill doings can go against the entire organization affecting the overall image of the company.

The only way a company can sustain its good image is by adopting fair trade as its motto. This will give it a large base of buyers who will have complete faith in the brand, even in the testing times. Well, through this discussion on trade fair and fair trade, we can actually devise the true definition of a successful trader.

A successful trader is the one who believes in his product and showcases it without any deception at trade fairs, trades while sticking to fair trade principle and then reaps the rewards for his endeavors by selling his product to a consumer base that has complete trust in him.

Hiring Hosts for Trade Fair Stalls

A company exhibiting at a trade fair needs to be very proactive and precise in deciding on the kind of image that they want to project at a trade fair. An image that defines the company appropriately can go a long way in the good performance of a company at an event.

In a trade fair, the visitors are on the lookout for newer technologies and are keen on finding out all the information regarding its utilization. Besides, a well explained product or technology, the visitors are also attracted by the way the company is represented. Hence, the look of the stall and the personnel hired for the representation play a crucial role in determining the impact of a company stall at a trade fair. A stall can be easily designed with the help of professional architects. But the selection of a host can be tricky, especially if the company is presenting its product outside its native country.

A non-professional approach shown by a stall host can negate the first impression created by the impressive design of stall and high quality of product. This fact should be kept in mind and high emphasis should be laid on the selection of a host. Some parameters which should be kept in mind while selecting a host are-

Command of Language-
A host should be well-versed with the language of the natives. A strange accent and lack of familiarity with the local dialects can hinder the performance of a host at a stall. Lack of knowledge can be corrected with small time training and instructions but the familiarity with the language cannot be instilled over a short duration of time. For an international company, hiring a host from the native land is a must.

Personality of the Host-
A nice personality is always an extra advantage for a host. An instantaneous impression can be created if the host is well liked by the visitors. Though it is not mandatory that a host should be good looking yet a good personality is a desirable attribute for a host.

Familiarity with the Product-
Small time training is required for enhancing the knowledge of a host regarding a product. But sometimes, especially in highly technical areas, it might be impossible to train a complete novice. In such cases, familiarity with the product is mandatory and host should be chosen depending on their technical abilities.

A host plays a major role at a trade fair and companies should never take the process of hiring a host lightly. Above mentioned parameters should be checked before hiring a host.

Meetings and Conferences at Trade Fairs

Trade fairs serve the purpose of bringing together a group of industrialists from a specific sector under one roof. These gatherings can be utilized effectively to address burning issues and trade problems. This is the reason why more and more trade associations are using trade fairs for meetings and conferences.

Nowadays, the trade fairs are looked upon not only as financial and business platforms but they are also perceived as the ideal meeting ground for the different companies from different regions. Special timings and halls are reserved by the organizers for holding these meetings and conventions. The plans are chalked out before the start of a fair, and topics for discussions are selected by consulting the major players in the industry. These meetings help in formulating the course of action to be taken to solve the problems faced by the industry. Moreover, the new entrants in the industry get a chance to interact with other established industrialists. All these benefits of the trade fairs are the reason why they are looked upon as the ideal meeting place for the industry.

Meetings and conferences at trade fairs should be organized with great care and a long thought process is needed to make them beneficial for the entire industry. Some of the important considerations before organizing a trade fair with meetings and conferences are:

Identifying the topics for a meeting-
Representatives from different companies visit a trade fair and it is possible that each one of them has a different issue that they want to ponder upon. That is why, it is imperative to choose a topic which engulfs all of their concerns. This will enhance the impact of meetings as more representatives will take part in the discussions and the decision will be treated with respect by all the players in the industry.

Treatment of the attendees at meetings-
The participants attending such meetings at a trade fair are generally white collar employees with esteemed positions in their organizations. Hence, special care needs to be taken in the arrangement of facilities and services.

Infrastructure and facilities-
The meetings and conferences require high quality presentation equipment like projectors and computers which should be arranged well in advance. Moreover, the hall chosen for such meetings should be acoustically perfect. This will make sure that the discussions at these meetings are not hassled by noise from other halls reserved for exhibition.

Meetings and conference at trade fair demand high maintenance and focus because of the wide variety of companies represented. Small mistakes can dent the overall impact of such gatherings; hence organizers need to plan everything in advance, so that the industries are able to use these meetings in the best possible way.

Future of Trade Fairs

In the past few years, trade fairs have transformed the face of industries and changed the way business had been done. Many companies have gained exposure through trade fairs which has resulted in their progress over the years. Due to its beneficial effects, these fairs are seen as torchbearer of all the industries in the world. It won’t be an exaggeration if we say that these trade events have become indispensable to the entire trading fraternity.

Clearly, we can see that trade fairs will be a major industry tool to garner maximum exposure to the new products and brands in the future. But we are still wondering, how different the perception and impact of a trade fair will be in a few years from now. Well, if we analyze the industry trends and pay heed to a few statistics, we will see that the future is definitely bright. But as we know every good thing has its bad aspects, trade fairs will have their pros and cons, which are discussed below-

Future Trade Fair (Pros)

In the future, trade fairs will become highly competitive because of higher participation of individual companies. As a trade fair provides equal opportunity to each exhibitor displaying at the event, it will be an ideal platform for smaller players in the industry. Also, the trade venues are evolving rapidly and high class technologies are available easily at many venues. This will further improve over the years which will lead to large scale live demonstrations and conferences. The companies will realize that they can easily channel the consumer response in their favor by impressing them at such mega events. Due to this trade fairs will become a major part of their campaigns and thought process. Moreover, consumers will realize the immense potential of trade fairs and their participation will improve over the years. In the future trade fairs, high end technology will be showcased to the visitors and the fairs will become the ultimate guide of new trends to the general public.

Future Trade Fair (Cons)

Trade fairs are definitely a boon to the industries and frequent fairs dedicated to the same sector of industries will take place in the future. This will result in huge competition not only amongst the participants but also the organizers. In this situation, organizers and exhibitors may use aggressive and unfair business tactics which might not be beneficial to the entire industry. With the advent of high end technologies in the future, the companies may try using robots and interactive computer technology to showcase their product. This can lead to the loss of human touch, which is otherwise vital to the development of a brand.

All these factors discussed above will most likely effect the performance of trade fairs in the future. Whether the overall impact will be positive or negative, it is highly debatable and inconclusive as of now. But there is no denying the fact that the trade fairs will be a marketing force which will definitely play a part in the next few years.

How To Keep Your Trade Show Team Motivated ?

The staff should always be motivated throughout the show.
To run a trade show is hard work and is often a case of survival of the fittest. The trade show team need to be "ON" for 12 to 18 hours a day for, typically, three or more days at a stretch. Staying motivated is a real big challenge, especially at the end of a day, or during the final hours of the show when traffic is slow, time seems to stand still and your feet hurt.

Energy, motivation and stamina can be done by the following ways:
@ self motivation
@ manager inspiration and
@ team spirit

Self Motivation

It is important to remember that everyone representing your company is an ambassador. By being helpful, courteous and having a professional attitude, can help in strengthening the company's image and gain new customers. Because of this, they should be chosen carefully based on their excellent knowledge of the company's products/services and the many customers and prospects that you expect to visit the exhibit.
When the staff have a negative attitude about being at a show, their body language lets everyone around know that they are not interested in doing anything.
In addition to wanting to be at the show, each staff member should have at least one personal goal they want to achieve. This not only increases accountability, changes unproductive habits, increases productivity, it also builds motivation.

Manager Inspiration

Top management should always be supportive as it keeps you lively in performing trade show activities. Managers can help them by providing training to it's team so that they work effectively. It is management's responsibility to create a positive, fun and reinforcing environment and to realize that it takes more than an incentive to succeed.
Rewards and personal recognition provide an effective way of encouraging higher levels of performance. Managers need to know their individual staff members and what motivates them. The power of recognition and appreciation can create a more positive, productive and enjoyable environment while working a show.

Team Spirit

Everyone in the booth should be working together as a team, helping each other out whenever and wherever necessary. Encourage them to establish plans of action for working the show.
There should be a group consciousness of the company's exhibiting goals. The team members need to be able to express themselves and feel as if they are an integral part of the overall success of the program.
After each day, team members should be encouraged to give and receive feedback from their colleagues. The purpose is to look for ways to improve past performance and make each day better than the previous one.

Common Mistakes in a Trade Show

@ Failure in implementing a consistent marketing plan

Exhibiting efforts must be part of an overall marketing scheme that is consistent and engaging. Many exhibitors old and torn trade show displays repeatedly in their booths which in turn ends up looking entirely bad from the rest of their marketing material. So it is important to have a fresh look at every trade show and is also important to implement a consistent marketing plan to build brand recognition.

@ Failure in setting goals and objectives for a trade show

It is important to set measurable and smart goals in advance of your trade show so that it can help in achieving company's targets and increase in sales.

@ Failure to give attendees and other exhibitors a reason to visit your booth

Never assume that visitors will directly visit into your display area without any incentive. There are a number of methods exhibitors use to draw attention to their booths, many of which are put in place before the show even begins such as banners, pre-mailing and making phone calls etc.

@ Failure to follow up with the leads you generate

The biggest and most common mistake exhibitors make is that they fail to evaluate their trade show booth which is the most important thing to do as it helps to correct the mistakes and not repeating for the future trade shows. Unless you have a plan in place, you may as well not even attend the trade show.

How To Do Branding Of Your Trade Show Booth ?

Savvy marketers have long understood the importance of developing a consistent image for their product or service that will stay in the mind of the customer. Brand names such as Sony, Coca-Cola and Microsoft are as familiar to many consumers as the names of their own family members. And the loyalty towards such brands helps in higher purchasing preference. For this trade show is the best floor where your brand can be seen and remembered by hundreds of buyers.

Before attendees reach the show floor,it's better to make them aware of your brand by distributing brochures, catalogs, doing pre-show mailings, advertisements and previous sales calls. But, when they are at the show the only chance to build awareness of your brand is through your trade show booth. According to the Center for Exhibition Industry Research, trade show exhibits have six times the impact on purchasing of any other medium.

Many different booth products can be imprinted with company logo, slogan, or a message to impart about your brand. These products include banners to hang above your booth or on its walls, mats to place on the floor of your booth, product displays, point-of-purchase inflatables to attract attention to the booth, director's chairs for your guests to sit in while discussing business, ceramic mugs or plastic tumblers for them to drink from, napkins and paper plates to serve them food on and much more. All of these products can be imprinted with company or product logo for maximum brand exposure.

To make trade show attendees feel the power of your brand you don't need to spend the huge amount of money that Coca-Cola does. But, you do need to make the money that you spend count. Whether you're using banners or displays, mats or mugs, the message that you're advertising to attendees must be consistent with all of your other marketing efforts. For the most return on investment (ROI), choose booth components and accessories that will build your brand image by making clients aware of what your company stands for, and what products and services it's selling. Make the most of this opportunity to have an impact on your clients' purchasing decisions by presenting your brand in a way that is attractive, meaningful and, most of all, memorable.

Advantages and Disadvantages of a Trade Show

Trade shows are a major portion of the marketing mix in the industrial marketplace.
Trade shows, trade fairs, trade events, expositions, business exhibitions, conferences, conventions. The name may vary but the basic function of the activity represents a major industry marketing event.

They are “events that bring together, under a single roof, a group of people who set up physical exhibits of their products and services from a given industry ”.

There are some advantages and disadvantages of trade show usage.

The advantages of trade show include:

- a message delivered to a large number of qualified interested people who get influenced and generate interest in a specific exhibited product or service

- introduction of new products to a large number of people

- Exposing promising customer

- enhancing goodwill

- gaining company publicity

- improving corporate image

- gathering competitor information


The disadvantages of trade show include:

- confusing environment found in large shows

- excessive frequency of trade shows

- high and rising costs of participation

In a nutshell Trade shows have both pros and cons but I personally look into it's advantages as it offers an opportunity to showcase its products in one location, and also it can create awareness in new prospects, reinforce existing customer relationships, provide product demonstrations for evaluation, and allow sales of products on the spot.

Importance of Setting Objectives For A Trade Show

Here are some great tips for maximizing your return on investment (ROI) from your next trade show:

- Setting SMART Objectives for exhibiting programs is very necessary as it helps to make short and long term strategies.
- Accountability - Everyone should agree to meet the specific objectives that have been set.
- Booth Behavior - Each person must learn the 'art' of presenting themselves to their audience, they should be aware of negative body language and develop a positive 'UP' attitude.
- Sales techniques - Learn the specialized 'show' sales techniques to help complete the objectives.

The tips provided by readers show a common theme - successful shows are the result of a structured approach to exhibiting. Let's get started with this motivating overview:

"If you don't know where you're going, you won't know if you got there. And even if you did, you won't know where you are! Know your objectives for a show, implement tactics to help achieve them, and then follow up after the show to see if they worked. This is TradeShows101 and the most likely area to be overlooked."

- Patti Burge, World Access

Not every show should get the same set of goals. What determines the variations in objectives between shows? It's all about matching attendee interests with your company's purpose in communicating with them. Attendee interests can be understood by doing pre-show research (often done during the show selection process). Your specific communication purpose is where your products or services meet the audience interests - What's In It For Them?

"Before a show, always decide what your goal for that show is, and tailor your booth presence and tactics to that goal. If you are trying to sell a lot of product you will have a much different strategy than if you are hoping to introduce people to your product or just do general marketing for your company! A focused approach is much more effective than a scattershot one."

- Rae Cirricione, WizKids

As always, don't forget all of the great promotional products you can hand out at your show! People love custom tote bags, eco-friendly promos, and custom pens, so call Motivators today and we'll get you all set with the best imprinted promo products out there!

Remember Pre-Show Publicity try and make last minute phone calls to your 10 best prospects, invite them to the booth.

Post-Show evaluation
- Survey booth workers

- Survey attendees to get their opinion of staff, booth, and the products and services offered by the company.

Why Trade Shows ?

Trade shows are exhibits or conventions organized by companies to promote their products and services, to expand their business. It is the best platform to exhibit your product or service to the people and convert them to potential customers. It is therefore important to have a custom trade show booth to attract people to your brand by highlighting your unique brand image and message.

Trade shows gives opportunities to compare their services and products with their competitors, which can lead to new and improved ideas for the business. Since there are a lot of companies and clients who take part in exhibits, the venue should really be wide.
Trade show booths should allow to gain new customers and make individuals aware of company's products and services. I personally believe that creative ideas sometimes consist of spending money, hence the saying, "it costs money to make money."

Effective brand marketing can only be done if trade show booth is very impressive. It should highlight company name, product images, brand message, logo, etc in such a way that people visit our booth.

Producing promotional materials like brochures, flyer's, posters, leaflets, banners or wall graphics can help in attracting customers. Staff representatives in different locations of the venue gives out brochures and flyer's to the trade show attendees. Just choose the banner stand that best presents your booth and  deliver your message and target potential customers in an easy manner.

Scratch cards can also be used as its something people really enjoy. Scratch cards reveals that they have won something free or they get a special deal from your booth or your store. People love mystery, so you can use the scratch card for this very reason.

Best Exhibition Markets Across The World

Trade Fair Markets in South Eastern Europe

Greece is the strongest market in South Eastern Europe when it comes to the economic power of its inhabitants measured in GDP per capita , whereas Romania is the no. 1 country concerning the population. Since trade fairs and exhibitions are mirrors of the markets their future development is closely related to the size, structure and economic development of the respective target markets.

Trade Fair Market Kazakhstan

The most active foreign organizer in Almaty is the German GiMA from Hamburg and its partner Iteca, both of them belonging to the British ITE Group. Among GiMA’s most important trade fairs staged in Almaty are the crude-oil and gas industry fair KIOGE, the building industry trade fair KazBuild, the trade fair for medical and dental equipment KIHE, as well as the CLEANEXPO Central Asia, which is the trade fair for the cleaning industry. In the capital Astana GiMA trade fairs such as AstanaBuild, Interfood Astana, and Agrihort Astana take place.
There are two main other organizers: TNT Productions with their focus on food machinery and technology (AgriTek) and Central Asia International Exhibitions.

Turkey: Overview on exhibition venues

In year 2008 more than 420 exhibitions were held in Turkey, organised by around 160 exhibition organizers. And in the running year 2009, 13 trade shows, held by German exhibition organizers only, demonstrate that the Turkish market has a growing importance in the international exhibition scene.

Trade Fair Market Ukraine

The leading exhibition organizers in Ukraine include
Kyiv International Contract Fair
(the No. 1 company, a UFI and CENTREX member, with a total of approx. 99,000 sqm net exhibition space sold in 2006)
Euroindex
(the leader in business-to-business fairs, a UFI and CENTREX member, with approx. 35,000 sqm net exhibition space sold in 2006)
The company is certified with ISO 9001:2000 international standard.
ExpoDonbass
(based in Donetsk, the No. 1 company outside Kyiv, a UFI member, with approx. 30,000 sqm net exhibition space sold in 2006)

Besides this there are locally active organisers such as Chamber of Commerce and Industry of Ukraine, International Exhibition Center (IEC) and ACCO International.

Trade Fair Market Poland

The macroeconomic situation of Poland is positively stable with emerging growth industries in the sectors energy, renewable energies, traffic routes construction, environmental projects, engineering, machine building and most recently business process outsourcing such as back office processes and call center services.

Trade Fair Market Middle East

Particularly the Gulf States’ exhibition industry shows a considerable dynamic potential. With respect to this fact, the United Arab Emirates take the leading position regarding Dubai being the exhibition metropolis no. 1, followed by Abu Dhabi.

Trade Fair Market Russia

The modern Russian exhibition market shows a considerable dynamic potential. Its development began in the early nineties with the Russian transition to the market economy. Within about 15 years, the Russian exhibition industry became an independent and fast-growing branch of industry.

In 2007, more than 2,500 exhibitions took place in Russia, about 700 of them in the leading exhibition site Moscow, almost 200 in St. Petersburg and about 1,600 in other Russian regions.

Trade Fair Market Germany

Up to now, Germany was able to keep its worldwide leading position in regard to the performance of international trade fairs. Here, about two thirds of the so-called pilot fairs of each individual branch of industry take place. Three out of five of the world's largest exhibition centres are located in Germany.

Each year, about 140 to 160 international trade fairs and exhibitions with around 160,000 up to 170,000 exhibitors and 9.5 up to 10 million visitors take place here.

Role of Organizers in Trade Shows

Trade Show Organizers utilizes all the marketing strategies to make the show a success. These organizers arrange trade shows to facilitate the process of promoting products and services for business to business organizations. It have now become a powerful tool for B2B companies to give instant exposure to their products.

B2B companies have a platform in the form of trade shows to market their products. The trade show organizer is responsible for planning the actual event, from choosing the venue to ensuring that decorating, security and catering is up to mark. They are also expected to produce floor plans of the finished space for management observation as well as for the use of the participants of the show. Every detail of the event falls into their portfolio. The usually have a staff of assistants directly responsible for the various areas, again this depends on the scale of the job, as the task may well fall to only one person.

Fierce competition among trade show organizers is increasing consistently. Not only they face challenges from their direct competitors, they also compete against other organizations like advertising agencies and consultants who want a share of corporate marketing budgets as well.
Today's trade show organizers are implementing promotional and marketing strategies to add value and increase loyalty among exhibitors.