I know, right? Here we are, a full twelve years into the new millennium, and we still go to tradeshows? Is this a cruel joke, perpetrated by foot doctors and the manufacturers of cheap pens? Haven’t we evolved to the point where the internet replaces this outdated, expensive, time-consuming and therefore inefficient mode of marketing?
The truth is tradeshow activity levels have not declined significantly in the digital era. Industries, including the commercial vehicle OEM’s and suppliers, continue to support national events, bringing along their newest products and supporting them with key members of their staff. Press conferences are scheduled, executives roll into town, and deals are struck. Apparently tradeshows continue to deliver value – but why?
The answer is obvious: Relationships.
The business world is relentless in its drive to increase efficiency, but technology has yet to supplant the relational element in business transactions. The internet is great for research. Phone calls and e-mails keep us in touch with each other. Social networks like LinkedIn even create an illusion of community, allowing us to believe that we are connected to our colleagues and aware of our competitors. None of these actions create or sustain personal relationships, and relationships make things happen in the business world.
I have personally attended three tradeshows or industry events already this year, and will attend two more in the next four weeks. Here are some observations I’ve made about the value of these events:
Finding The Pulse. Industry events provide direct feedback on commercial and technical trends. Is attendance up or down? How many people attending are industry leaders and decision makers? What are their top priorities? Tradeshows convey this information explicitly and implicitly, and if you make consistent attendance a priority you will be able to spot the trends and develop valuable insights.
Connecting. We succeed in business based on the information we have and how we use it. And while the internet is powerful, the information we often need the most resides in the minds (and hearts) of those we know and trust. Tradeshows and conferences create opportunities for databases (brains) to synchronize with each other. Just remember that the help and guidance you receive is almost always predicated on your willingness to reciprocate … or even initiate.
Re-Connecting. One of this year’s personal highlights was attending the Mobile Air Conditioning Society meeting for the very first time. The event allowed me the joy of meeting with industry professionals I had not seen, in some cases, for fifteen years! Was that the point of attending? No!! The point was these are people with established careers and networks that can help me in my business. And yes, I have signed a contract as a direct result of attending the meeting, so it was more than just “how are the kids?” and “you haven’t changed at ALL!” (wink, wink, nudge, nudge). We got work done, and we created value for our companies!
Trust But Verify. Speaking of contracts, are you really going to enter into a business venture of significance with someone you’ve only talked to on the phone or profiled on LinkedIn? I would suggest that for most of us, a face-to-face meeting is essential to creating a bond of trust. I was taught some twenty years ago that deals usually have their genesis in the third meeting, not the second, and never the first. Since that lesson pre-dated Twitter and WebEx, you can maybe challenge the premise; I happen to think the rule is still valid. Think of tradeshows and conferences as a means of affordably accelerating the trust-building process, since the cost per meeting is dramatically reduced compared to traveling to meet contacts individually.
Validation. You can stay home and read articles, or you can go to the source. I’m not enough of a student of psychology to understand how this works, but there is something fundamentally different about getting out and talking to people, seeing activity first-hand, or hearing a presentation in person. The information obtained in this manner is better retained, becomes more tangible and actionable, and is even more powerful when it comes from a trusted personal source.
I don’t know if I’ve persuaded anybody on the value of tradeshows. I think most people are pre-disposed to like or dislike tradeshows, based in part on their own personality. That’s why marketing budgets are analyzed so carefully – they have to hit a wide range of targets in order to be effective. Just don’t expect the line item for “Tradeshows” to disappear from that marketing budget anytime soon. Those cheap logo pens (along with pads of sticky notes, key chains, and other trinkets) are here to stay. Hope to see you in a crowded aisle one of these days!
