4 Challenges Faced by Young Entrepreneurs in Trade Shows
Trade shows remain one of startups' best branding, selling, and marketing opportunities. How popular are they? Trade show statistics show that the average organization in the United States attends no fewer than eight regional showcases and five national ones. Yet it can be difficult for younger founders to figure out how to navigate the unique challenges they face. Stepping into the trade show world as a “newbie” can be intimidating and confusing.
Try the following tips if you’re getting ready for your first convention, conference, or similar multi-vendor event. They’ll help you overcome the biggest obstacles you will likely face as an emerging industry leader.
1. Spend wisely.
Trade show budgets can get out of hand if you’re not careful. You need to spend your money judiciously and plan well. In general, you want to put the bulk of your funds into sales and name-recognition items such as customized trade show displays, sales takeaway items, and any digital marketing tools you’ll use with your trade show attendance. Try to minimize the money you put into travel, housing, and other necessities prospective clients, and investors won’t see.
2. Be brand-consistent.
Before creating anything, you’ll showcase or give away at a trade show and identify your company’s brand. This includes everything from logos and color schemes to taglines and mottos. You won’t have instant brand recognition like other vendors and participants. Consequently, you need to make sure your branding is consistent. A good tip is to ensure all your employees — you included — wear branded t-shirts or other types of apparel. People will be more likely to start recognizing your business, which will help you get the word out about your startup.
3. Divide tasks.
Unless you’re the only one going to a trade show from your company, you should always divide the responsibilities between your team members. Brainstorm this well ahead of time and try to anticipate all the roles that will be necessary. The last thing you want is everyone doing the same thing and missing key duties. For example, you may name one person to drive traffic to your booth and another person to be at the booth to talk to people who visit. This way, you optimize your time instead of wasting it.
4. Follow up.
What you do after trade shows is even more important than when onsite. Ideally, you’ll have met people and gathered leads during the event. Immediately afterward, you should be ready to follow up appropriately. This could mean calling an investor to set up a Zoom meeting or sending emails or texts to attendees who showed an interest in your product or service. The sooner you start following up, the better. Some trade show exhibitors set up their after-trade show communications to begin while the trade show is still happening. In other words, building engagement and connections is never too early.
Going to your first trade show can be a huge step toward validating your company as a solid competitor in your marketplace. Just ensure you anticipate the challenges you’ll face as a first-time participant at your chosen event. You can overcome those challenges through a more thoughtful planning approach.