Marketing has many facets. There are advertising, branding, and direct marketing. There is also trade marketing, a field that many often overlook. However, this is a necessary discipline, as it allows you to build your network by finding suppliers, new business partners, and even clients.
Many businesspeople have the impression that trade marketing is just about exhibits. But there are some techniques that you need to employ to make sure that you get the best out of it. Whether you are a business offering food or selling building equipment or materials such as screws, nuts, bolts and fixings, here are some things that you may want to keep in mind to maximize your trade marketing methods.
Applying Creativity
Many have the impression that creativity is only vital for advertising and branding purposes. However, it is also an important part of trade marketing. Creativity in this discipline can be mainly used for trade shows, but you can always apply it to other purposes. In this sense, your booth should be a standout. It would be best if you also came up with some creative promotions, from gift bags, freebies to discounts to draw in potential customers. With this, it only makes sense that you work with reliable graphic designers and booth builders.
Picking the Right Trade Show
Do not just join a trade show just because the entry fee is cheap. Similarly, do not join a trade show that is 100% irrelevant to your business or industry. When you join an appropriate trade show, you are actually getting that chance to talk to speak to the right target audience who may even need your products or services. Trade shows also make a good venue for launching a new product.
Attractive Promotions
Promotions always attract suppliers and possible partners. These also encourage clientele to be loyal and allow them to try your products at a discount. But when you are doing promotions on prices and product or service bundles, you should follow a good schedule. A promotion during holidays or special events is proven to be a good move. It always makes sense to release promotions if there is a surplus in your inventory. However, be wary of this move. You have to make sure that the products you will release are still in top condition.
Partnerships
One of the objectives of trade marketing is to find a partner who also shares the same objectives. This is where you can collaborate to innovate a product or merge certain services. It should always be a win-win situation. In this regard, you must find a possible partner who will use your products for their own improvement. Likewise, you should also use their products for the improvement of your offerings. Exchanging customer insights may also help both parties.
Master Your Trade
Trade marketing is something that you should master if you want to expand your network of suppliers and partners. It can be quite tricky in the beginning, but you always have the choice to work with an organizer or supplier who can provide solutions based on your objectives.
