What we feel while doing global marketing in the North American market for over 20 years is that international companies are too dependent on overseas trade shows. Although it is clear that exhibitions are an effective channel for expanding overseas markets, it is only one of countless tactics that can be replaced.
What do companies with a high dependency on exhibitions miss? One of the best advantages of the trade show is that it is possible to communicate with untapped buyers around the world or who cannot participate in the exhibition site. While existing offline exhibitions have provided comparatively easy advantages in developing overseas markets, there have been many companies that cannot connect potential customers to sales just by siloing them to an event once a year. To find success, trade shows must be part of an integrated strategy. Some companies attend trade shows as a routine corporate event rather than focusing on strategically preparing an exhibition and using it to achieve corporate goals, both short term and long term.
Since all potential customers are concentrated online, how to communicate with them more efficiently and how to establish a trust has become more important than the difficulty of geographic limitations or limited marketing resources.
This is a challenge to all companies, big or small. The key to a successful outcome is a strategy that enables active communication and creating an emotional connection to build trust.Online trade shows can help overcome the limitations and challenges of limited resources and geographic distance for international companies through a strategic omnichannel approach. In the new normal era, when online business models are more important, trust and communication are particularly important for new business.
Long before the pandemic, our team at BDMT Global have focused on implementing and replacing inefficient trade shows through strategic High-Touch Digital Business Development (BD) programs. In recent years, rather than directly participating in trade shows, we have taken the lead in expanding the North American market through an innovative approach that strategically utilizes the exhibition period.
For example, rather than paying a high cost to install booths directly at international trade shows, we have supported the introduction of an omnichannel method that includes online and offline channels, which can be used as a sales venue with buyers. For example, companies that manufacture medical devices conduct influencer marketing and online and offline educational seminars simultaneously to build trust with local medical staff during the exhibition, while securing active support from local media and medical experts, and promoting the exhibition site through various channels. It focuses on using it as a sales venue. This is a very effective way to secure sales opportunities based on active communication and trust building without direct use of trade shows.
Innovative business that has greatly improved the omni-channel strategy tactics that have been effectively used in the midst of the pandemic crisis to implement high-performing sales commerce events and market expansion strategies, and succeed in the North American market to support corporate goals during the pandemic time. In recognition of his method, BDMT Global was able to win two Stevie Awards, known as the “Oscars for business”.
Relying on a single platform for any channel is a passive strategy. If the trade show opportunity is leveraged strategically in the marketing mix by communicating in advance with global buyers whether they can or cannot come on-site, it is possible to secure global buyers around the world before the trade show even opens.
Effective tactical strategic investment is critical to maximizing return on investment (ROI) with limited resources. Now is the right time for companies planning to expand overseas markets, especially in North America. Be quick and strategic. We hope many companies try to expand the global market by learning the know-how of expanding the global market based on an effective business model replacing overseas exhibitions and an omnichannel sales creation program.
Suzy Im, Boston BDMT Global Managing Partner & Tribalvision SVP email@example.com