One of the most popular methods of industrial marketing is the trade show. Unfortunately, recent restrictions placed upon mass gatherings due to COVID-19 have all but decimated the possibility of live trade shows in 2020. How can you adapt to the digital marketplace? Here are a few industrial marketing alternatives:
Virtual Trade Shows
Now that trade shows have been cancelled in an effort to control the spread of COVID-19, many have opted for virtual trade shows. With video conferencing platforms like Zoom, virtual gatherings have been made possible in 2020.
Exhibitors who have made the transition to virtual trade shows have seen an increase in attendance. Furthermore, virtual trade shows are more cost-effective for exhibitors and attendees. With the costs of collateral, booth space, and other fees, exhibitors spend thousands of dollars to attend physical trade shows. With virtual trade shows, attendance fees are a fraction of what they usually are. Additionally, exhibitors cut down on travel expenses.
Mailing Lists and Newsletters
In a report written by Mosaic and the Event Marketing Institute, 74% of attendees say they are more likely to purchase a product or service after engaging directly with marketers. Therefore, face-to-face marketing is an effective method. However, with COVID-19 restrictions, marketers must find new ways to reach their target audiences.
With over 3.9 billion daily email users, email marketing is necessary in 2020. While face-to-face marketing may present a fair return-on-investment, email marketing allows marketers to maintain relationships with their audiences long after the initial interaction. Email marketing supports on-going exposure and continuous growth.
At trade shows, exhibitors are face-to-face with potential customers. These interactions drive sales because marketers are able to build connections with their audiences. So how do marketers reach potential customers without face-to-face interactions?
Like trade shows, digital advertising allows marketers to reach potential customers. However, at trade shows, a marketer’s reach is limited to those in attendance. Digital advertising allows marketers to specifically target demographics they may fail to reach with face-to-face marketing. The more a marketer invests in digital advertising, the further their reach.
At Floro Business Strategies, we understand the importance of adapting to an ever-changing market. If you’re searching for creative industrial marketing alternatives but you’re just not sure how to get started, our professionals are ready to assist!