Technology Tradeshows: What to Know About Your Competitors
Tradeshows are a great way to forge relationships with new clients and gain access to new distribution channels for your technology. However, keep in mind that your competition will also have a presence at the event. Below are things you should know about your competitors at a technology tradeshow and how to take advantage of the situation.
Tradeshows Are Used to Gain Intelligence on Competitors
One thing you should certainly know is that tradeshows are not only used to forge business relationships; they are also used by companies to gain intelligence on the products of their competitors. Other businesses will certainly be checking out what you have to offer, and it would be foolish for you not to do the same. Check when the latest tradeshow will be and what they will explore, like the big Governor’s Conference on Energy in Richmond, Virginia.
Strong Competition at a Tradeshow Is Not All Bad
Despite the prospect of corporate espionage, having your competition at a tradeshow can actually be a good thing. Tradeshows with a lot of exciting booths mean more foot traffic. This is especially the case if you’re competing against the major technology companies. You may be able to lure in some of the people interested in their booths that walk by or get bored waiting in line.
Fighting the Competition Means Wooing the Attendees
To sell your new technological products to clients and vendors, you need to do something to gain both their attention and their favor. This should include a splashy booth display, knowledgeable staff and exciting demonstrations of the new technology. Don’t be afraid to go all out to win over future clients. Consider purchasing branded promotional products to distribute. These branded giveaways can be imprinted with your company name and website URL for repeated advertising exposure among attendees. You can find such items at http://www.halo.com/promotional-products-richmond-virginia.aspx.
Learn About the Competition’s Supply Chain
While learning about your competitors’ new products can be very informative, using a tradeshow to take a bite out of their market share should also be on your agenda. Perform more intelligence and use conversations with their booth staff and the attendees to gauge just who their vendors are and whether they are satisfied with their products. If you can lure away some of those vendors, you’ll be able to gain new distribution channels while shrinking your competition’s market share at the same time.
Overall, the key to dealing with your competition at tradeshows is using them to your advantage. Feed off of the energy of their booths to sell your own products. Also, send out your employees to gain valuable knowledge on both their products and their distributors.