Many juvenile product companies have at times questioned the value of the annual trade show. However, as long as retail customers are willing to make the trek, there are some highly beneficial things that can be accomplished at an industry-wide exposition, even beyond what you might expect.

To take full advantage and make the best use of your time there, you need to go in well-prepared and with the right mindset. Here are some things you can do in Louisville to maximize the return on your trade show investment:

·         Make sure you are presenting an ideal corporate image.In this era of virtual companies, on the show floor you can still look like a major force in the industry even if your headquarters is a desk in your living room. Of course, it’s important that you have crystallized in advance your compelling corporate competitive advantage—what I called a “superiority theme” in my previous post. Everything your company shows, does, and says at the show should reinforce this. While it may be too late to change the design of your booth for this year, at least make sure you have reminded your staff of the core message(s) you want to emphasize. 
 

·         Think of the show as part of your ongoing industry market research. While your number one priority at the show is always presenting your product line to customers, a close second should be proactively gathering information about your current and future competition as well as industry trends. In a previous post, The CEO as “Chief Reality Officer”, I talked about the responsibility CEOs have for being aware of what’s really going on inside and outside their company. I’m not suggesting you use a periscope to peer over the walls of competitive booths. There’s a lot to be learned by just walking the show, attending show events, and of course networking. Make sure you allocate enough time for these activities.
  

·         Observe how effective your sales force and reps are with customers. During the course of the show, you will have a golden opportunity to observe just how well your sales people know the key customers and how well they deliver the message. This is something that otherwise would take you hours of sitting in airports and flying around the country to accomplish. And, don’t feel uncomfortable about listening in. Remember, like a coach on the sidelines, your job is to be aware of the quality of your team’s performance and to make sure that appropriate training or remedial action takes place.

·         Take advantage of the opportunity to meet senior level managers at retail accounts. Under normal circumstances, it’s difficult just to get a few moments with the buyer in his or her office. At The ABC Show, you will have the opportunity to get exposure to senior level retail managers as well and in an atmosphere where you can position your company and products in the best possible light.  Making contacts at the show can also pave the way for follow up communication without appearing like you are going over the buyer’s head.

·         Get early trade reactions to products in development. In addition to promoting your existing and new products, don’t miss the opportunity to get early trade input on products you have in development. All you really need is a sketch or a model. There’s a confidentiality tradeoff here so be careful who you show things to. But, you can avoid some serious mistakes and improve the ultimate rate of sale by factoring in retail buyer perspective on design, packaging, and pricing at an early stage. It may also be a way to learn if there’s a competitive product out there you need to know about. You should be able to tell by a buyer’s reaction whether or not your concept is unique and appealing.

Best of luck at this year’s show. Hope to see you there!

Disclaimer: No warranties, express or implied, are contained herein. Purchasers, or users, of this information acknowledge that any errors or omission in the performance of the material contained herein or, any injuries resulting from its use, are the sole responsibility of the purchaser or user, and not JPMA or the author. Opinions expressed are those of the author only.