HOW EFFECTIVE ARE TRADE SHOWS?
In this day and age of online marketing and everything being sold and advertised on the digital platform, if you think taking part in trade shows is a way of yesteryears, you are grossly mistaken.
So, when you hear someone say, ‘all you have to do is invest in online marketing to scale your business,’ turn around and walk away.
Statistics about trade shows reveal something else altogether, for the year 2021 in the U.S. alone, the market size for a trade show is estimated to be $14.9 billion, with a growth of 30 percent. Another study revealed after surveying over 100 sales and marketing professionals that 73.5 percent of them would prefer to attend in-person trade shows rather than online demonstrations. In another pre-pandemic report of 2018, it was stated 81 percent of trade show attendees have the authority to buy products.
With these figures in place, it would not be a far-fetched idea that even if you are into the medical equipment business, it’s time to hit the road and be part of a medical equipment trade show.
While the trade shows might become a bit smaller in size, their impact on the post-Covid landscape will not change.
This becomes more apparent when you see the listing of upcoming medical trade shows and expos.
Top 3 Medical Trade Shows Not To Be Missed
In the medical field, research is a constant feature in the means to stay ahead in the game. The focus of research and developing new facilities aim at providing better support to the doctors, caregivers, patients, and even administrative departments of the clinics and hospitals. So, if you are looking for ways to showcase your innovation and product or find a new one for your clinic, it’s time you plan a visit to at least one of these trade shows.1. FIME
Location: Miami Beach, Florida, USA
Draws in 17,500 international and national attendees, is one of the largest medical equipment expos in the country. The expo has dedicated zones that focus on the laboratory science industry, conferences, digital networking platforms, and others, which helps generate impressive new businesses.2. RSNA
Location: Chicago, Illinois, USA
The expo is dedicated to radiology and redefining technologies with new ideas to offer better service to patients and healthcare givers. The place is filled with radiology professionals, speaks, executives, purchasers, exhibitors, and sponsors. An ideal place to increase one’s business while finding the new and right technology for the clinic.3. ARAB HEALTH
Location: Dubai World Trade Centre, Dubai, UAE
The expo draws about 3,590 exhibiting companies, 60 countries, and 56,028 healthcare and trade professionals. It is one of the leading medical equipment expos in the Middle East that is dedicated to showcasing the latest healthcare equipment developed with innovation. A place where a developer, trader, or architect can meet a potential buyer.
If you are still wondering what the benefit is or how effective trade shows are for your business, let’s continue and hope we can convince you to be part of one in the coming days.
Effectiveness of Trade Shows For Medical Industry
One of the ways to look at the effectiveness of trade shows is for the medical industry to understand that for building a healthier world, developing and taking the latest equipment and healthcare to people is vital. Trade shows are one of the effective and efficient ways to do that.
Under the one roof as a buyer or trader, you can find almost every item required for healthcare. If you are a service provider, a developer, or an architect, you have the opportunity to showcase your products to prospective buyers.
Some of the benefits that trade shows offer the medical industry are:
1. Launching new services and products
Most of the trade expos are the perfect place to launch and showcase any of the latest products. If the expo is catering to the healthcare industry, the products are often categorized into sections so visitors can easily find you.
2. Generating new business
Trade expos are a great way to generate new businesses and forge relationships with existing clients and walk-ins.
3. Stay up-to-date with the latest technology
As a healthcare service provider, you will know about the latest gadgets and equipment that are being developed for the industry to perform better.
4. Increasing brand exposure
Any brand that takes part in the expo, whether as an exhibitor or partner, often gets both printed, media, and digital exposure before and after the event. If marketing is done correctly, then it can lead to year-round activity.
5. Networking with the industry leaders
As mentioned earlier, almost 81 percent of attendees at the expo have the purchasing authority for a company, and the events are flooded with leaders in sectors and businesses. Therefore, trade expos are one of the best places to positively impact them since you can involve them in a one-on-one dialogue showcasing your items.
6. Engage with potential buyers
Buyers and traders of the industry are on the lookout to get the best deals and latest equipment to sell. A trade expo is perfect to showcase the products while giving them the best deals, ensuring you forge a partnership with them.
7. Get an edge over your competitors
Whether you are a trader, exhibitor, or leader of the industry, at a trade expo, you have the opportunity to engage with the potential counterpart to establish a partnership so you can get an edge over your competitors in the market.
8. Increase regional presence
When you attend a trade expo, you can expand your business to other regions of the country and maybe even internationally by finding a partner interested in your product.Final Words
The benefits of attending a trade expo for a medical professional or developer are immense, so if you are still in a dilemma, we suggest you attend one to experience the benefit of it first-hand. With the medical field being one of the competitive industries with improvements, technological developments, and changes being made exponentially, it is vital to know the latest trends. Therefore, the best place to find an under-one-roof is a trade show.