In 2023, the average business attended over 14 national trade shows and a couple of international trade expos. How does your wholesale business compare? According to a survey report around 91% of high-performing businesses place a higher stress on live events, like trade shows and events, than average-performing or low-performing businesses do.
Here are some ways attending an industry trade show can boost your wholesale business’s bottom line.
Make new connections.
From independent sales representatives to importers, distributors and manufacturers’ reps, the people you interact with at a pharmaceutical trade show can open new avenues of opportunity for your business. Check out the attendee directory in advance so you can ascertain who will be attending and set up meetings in advance.
Stay on top of trends.
One of the most significant facets of attending a trade show as a pharmaceutical products wholesaler is seeing what other products are being exhibited. You’ll get a good understanding of what products are popular, which will give your wholesale business an edge over your competitors. Even if your focus is your booth do ensure to invest a little time walking around the venue and observing all the sights.
Learn new things.
International pharmaceutical trade shows aren’t just about booths. You’ll also have opportunities to attend workshops, presentations, and panel discussions on the latest topics in the industry. So, you should not miss the chance, plan ahead and sign up for the sessions you feel will be invaluable for yourself and your team.
Promote your newest products.
The attention you’ll attract by exhibiting at a tradeshow will become the great launch pad for announcing new products you’re carrying. Build eagerness by teasing the launch in good time on your website and social media. Reach out to members of the media who attend the event and invite them to step in your booth.
Build your brand.
It’s vital to register your presence at industry trade shows and expos so that people can see that your business is thriving and active. Create an attention-grabbing booth display that’s in line with your brand image. Have branded tote bags or other promotional products to spread your brand all through the show. Make the most of the opportunities to promote your brand by moderating a panel discussion.
Reconnect with existing customers.
Of course, you keep in touch on social media and by phone, but nothing compares to interacting with your customers face-to-face. Leverage the pharmaceutical trade show as an opportunity to pick your customers’ brains and receive ideas on better ways to serve them. Fix up meetings with customers ahead of time to be sure you get some face time.
Offload overstock.
A lot of trade expo attendees expect to enjoy discount prices when they order something at a show. You can satisfy their expectations by selling your overstock products at discounted rates or handing them out as premiums for booth visitors or gifts for customers.
The Nutshell
Attending a pharmaceutical exhibition as a pharmaceutical products wholesaler is a valuable investment in your wholesale business’s future.
