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How Trade Shows Can Help Launch your Business in New Industries
Elijah Logan Longview Texas
Are you a small business looking to generate more sales leads? It may be time to get vertical.
According to this recommendation of contributor and Business Refinement, LLC founder Michael Kaleikini, the best way to break into a new vertical is to begin connecting with industry partners who can help you reach decision-makers directly.
One of the fastest and most cost-effective ways to do just that is to begin sponsoring or exhibiting in industry trade shows. Trade shows allow exhibiting companies to:
Gain face-time with prospects and industry professionals: This article from www.MarketingProfs.com shows that decision-makers value face-to-face communication more than any other form of communication for fluid decision-making and purchasing processes.
Build professional relationships that will last the lifetime of your business: An EventView study reports that 62% of senior executives chose event marketing as the discipline that best accelerates and deepens relationships.
Close sales faster and spend less doing it: In addition to exhibiting being one of the most valuable assets for initiating long-lasting relationships, it’s one the most cost-effective methods of lead generation in business. A study published by the Center for Exhibition Industry Research (CEIR) shows that sales cycles that result from trade show leads close faster and cost less to close than outside sales leads; $550 and 1.4 sales calls compared to $997 and 3.6 sales calls, respectively.
Participation in trade shows provides businesses with a smooth transition into a new vertical, with the potential to achieve big results quickly.
Mark LaCour of modalpoint, a company that helps organizations sell their products to the oil and gas industry, has seen the power of trade shows first-hand. „After sponsoring a breakfast track at a trade show, I watched one of our clients go from zero dollars of revenue from the oil and gas industry to ten million dollars in twelve months.”
Has your organization expanded into another industry using trade shows? Share your insights. Want more information on B2B trade shows? Visit the blog at ElijahLogan.com and connect with me @EliLoganTx
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