Episode 011 – 4 Key Things You Need to Research

Episode 011 – 4 Key Things to Research Before Your Next Show

For many of you listening to this right now, you are entering a busy trade show season, or perhaps you are in the middle of a trade show season. The best part is, no matter when your next trade show is, you can use research as your secret weapon to give yourself an edge both at the show and outside of it. Obviously, if your next trade show is still a long way off, then you have more time to research, but even if you only have a week, you can still do the research to give your company an edge!

If you are going to see a brand new exhibition that you have never seen before, research is crucial.

But research also applies to shows you’ve done before, maybe even multiple times.

Here are 4 key things to research before your next gig:

First of all – what industry does this show serve. In order to best prepare your booth, what information you will bring, what your focus and your message will be, you need to know all about this industry – even if you have been in the industry for years! Here is what you need to research:

Industry Trends,

o Who are the industry leaders – what are they focused on? What is their message and brand? Learn how they do things

o Buying habits – It is important to understand their buying habits and how this may change. Do they buy direct or through buying groups or distributors?

o Have government regulations impacted the industry?

· Second – all the information about the show – history of the show, number of attendees, number of exhibitors, speaking opportunities, networking opportunities.

o Whether you have attended a show many times before or not, check the show website to see what is new. Shows are constantly trying to reinvent themselves to stay fresh and appealing to the crowds. They may open up new segments to attract entirely new markets.

o You don’t want to be caught off guard and miss out on new opportunities! Stay up to date with what’s happening at the show. This information should be on the show website, but if you can’t find it, call your show contact and ask!

3rd – Your Competitors – Who are your competitors in this space? You probably know who your current competitors are, but how well do you know them? Do they have new products? How are they changing? What are their strengths and weaknesses? Who are the new competitors? Keep an eye on any new names entering the market! They may be bringing all new products, services, and ideas that could attract customers.

o Watch out for companies that are not direct competitors but sell similar or complementary products or services. Especially if they sell to the same customer base as you.

o Another example is when complementary businesses become direct competitors.

o Don’t ignore anything your competitors offer or say. Even better, use the information you find to answer and respond to people who mention your competitors and their products.

o The key to the game is to never be caught off guard. Stay alert and be prepared.

· Fourth – Where to do your research. There are several cheap or free options that are all excellent resources. Some will provide better results than others depending on your industry and what you are looking for.

o Show website – This is a must-have to find out who is attending the show, how many people are there, who else is exhibiting, who is speaking, etc.

o Internet search engines – Yahoo, Bing, YouTube, Google, etc.

o Industry Associations – The purpose of an association is to serve its members, and one of the ways they do this is by conducting their own research. Most associations have a wealth of statistics, data, and information that can help you better understand the industry they serve, and it’s often free!

o Industry publications – always a great resource for the latest industry trends, case studies and data

o LinkedIn – Search for companies you want to target to find leadership positions and identify similar companies. Find industry groups to join and see discussions on the hottest topics.

o Government websites and resources. If you’re marketing to the government and its many agencies, you can find not only information about the government and its many agencies, but also data about population, global trends, and more. The Library of Congress website is widely considered one of the top research sites. Looking for more localized information? Check out your local Chamber of Commerce.

The research doesn’t stop after you attend a trade show! Research competitors, the industry, attend talks, and gain important information that you may not be able to get anywhere else.

One last thing – do your research quickly and efficiently. It’s easy to get overwhelmed by the amount of information available. Figure out what you want the research to do for you before you start, and stop once you’ve got the information you need.

· So come in, get the information you need, and get out.

· Also make note of resources you’ll want to return to later that may be helpful in other areas of your business.

That’s it! Here are four main things you’ll want to consider to make research your secret weapon at your next trade show!

#1 Understand which industry the show serves. Investigate trends, buying habits, leaders, etc.

#2 – Research the show. Visit the show website and get all the information you need to best prepare for you and your resources.

· #3 — Research your competitors — Try to understand their strengths, weaknesses, and products — and know how you compare to them.

· Number 4 – Where to do your research. Understand your options so you can use your time efficiently and effectively.