Following 2020, B2B tradeshows took on a new process in 2020/21 to bend to the pandemic climate. This article by Forbes, https://www.forbes.com/sites/billconerly/2021/03/01/trade-shows-will-regain-importance-after-the-covid-pandemic/?sh=76cca4b2792e provides a helpful insight into why the presence and participation of companies in trade shows will regain its pre-pandemic momentum and why they are important for businesses to thrive past their pandemic survival. So it may not be the time to pivot to virtual shows in their entirety just yet.
Link to Forbes article
Mark your calendars with these 2022 trade shows specifically geared to B2B wholesale: [list of dates to be entered here]
Points to note:
- It’s fine to miss the tradeshows so long as your competitors are doing likewise. If your competitors re-start their attendance and you do not, then your business may fall behind.
- Tradeshows drive sales in 3 ways: 1) continued sales to existing customers, 2)sales to new buyers dissatisfied with their current providers and 3) new buyers looking for new offerings.
- A focal point of tradeshows are the one-on-one meetings with existing customers.
- The cost of the attending the tradeshow as a whole (e.g. travel, hotel, entertainment) can be offset by holding a large number of meetings in a short time span to solidify and continue those existing business relationships.
- Focus on the tradeshows where you have the most number of clients and potential clients attending.
- Wholesalers may miss out on potential new opportunities because some attendees are present because they are dissatisfied with their current suppliers.
- The wholesalers themselves may be the ones losing clients, therefore picking up new business via tradeshows is vital.
- Tradeshows are a great way for businesses to show off their new products and / or new variants of old products.
- It is reasonable to want to wait until travel returns fully back to normal, however businesses should weigh the cost savings against the benefit from being one of only a few businesses selling your particular products at the show.