Becoming a driving force in the e-commerce industry requires a strategic plan and a commitment to improving your business. The path to improvement begins with ongoing industry learning, which is made easy through participation in industry events. Below are the top ten networking benefits of trade shows and conferences.
1) Bolster awareness of your brand. Raising brand awareness is vital to the success of an e-commerce business – especially a business that is in its formative stages. Trade shows provide you with an organized stage to advertise your brand to hundreds or thousands of vendors, prospective customers, and industry leaders.
2) Keep an eye on your competitors. e-commerce sales are projected to exceed 4 trillion dollars by 2020, setting the stage for continued growth and the exponential emergence of e-commerce startups. Prospering in this increasingly competitive environment requires you to know your competitors’ business practices and sales tactics so that you can stay one step ahead of them
3) Display your latest products. Exhibiting your products at a trade show is a great way to attract the attention of a captive audience. By showcasing your best selling items, you can grow your base of purchasers and give prospective customers the chance to touch and feel your best sellers.
4) Meet new and existing clients face to face. The nature of the e-commerce industry makes it difficult for business owners to personally communicate with key customers. Trade shows and conferences provide a welcome forum for e-commerce store owners to put faces with the names of the customers who have been supporting their businesses online.
5) Generate high quality leads. Trade shows and conference can produce hundreds of qualified leads for your business. And because many attendees participate in trade shows for the purpose of purchasing products or services, you can enjoy a robust collection of high quality leads.
6) Evaluate new products. Expanding the scope of products and services that you offer is more challenging than it seems. Choosing the wrong products to add to your e-cmmerce store can be distracting and annoying to customers. Trade shows are full of companies exhibiting their latest and most innovative products. Many companies offer free product trials to potential distributors at trade shows, giving you no excuse to avoid getting your hands on some great new products for your site.
7) Close sales. Trade shows present an ideal forum to sell your products. Key decision makers comprise a sizable portion of trade show attendees. With nearly half of these decision makers placing orders during a trade show, you should come prepared to close sales and process payments.
8) Try the latest e-commerce software. Newcomers to the trade show industry often do not realize the extent to which trade show participation can help their business. Exhibitor lists typically include more than just e-commerce companies; they include businesses that play a key role in the industry. Examples include the following:
- Software providers
- Marketing companies
- Shippers and carriers
- Packaging companies
- IT support providers
9) Discover the latest industry trends. In the increasingly competitive e-commerce world, it is critical to stay abreast of the latest business trends. Trade shows provide the perfect forum for mingling with e-cmmerce leaders, pioneers and business owners who are experimenting with new ways to make e-commerce better.
10) Learn about changes in industry regulations. Failure to comply with industry laws and regulations can result in harsh penalties, including fines and even time in jail. Many trade shows and conferences include seminars and training opportunities that are designed to educate participants about key changes in e-commerce-related laws and regulations.
Clearly, trade shows and conferences are excellent forums for learning, networking, and promoting your business. If you are in search of an effective means of expanding your business, ramp up your trade show participation!