International Trade Events: An area untapped.

Globalization has made the world smaller and smaller for business to sell their products. Organizations around the world are seriously considering new ways to reach their target customers. One of the best ways for U.S companies to double their sale is by participating in International trade Events or Exhibitions. Participating in international trade fairs offers great opportunities to meet large number of people, in fact to put it in better way I would say International Trade Shows give organizations an opportunity to meet potential buyers who are “willing” and able to buy. I say willing, because customers around the world already are very much interested in U.S products, mainly because of its high quality. And to make a sale to them, atleast one face-to-face meeting is required. Participating in International Trade Events helps to fulfill this need.

Participating in International Trade show provides benefits like:

• Increased business’ reach

• Companies can expand their business especially medium sized organizations.

• Companies get a chance to learn about foreign markets.

• They also get to meet distributors and thus help them to develop their network around the world.

• Participating in international trade shows can be an extremely beneficial to help increase a firms export.

• Know your competitors and meet the competition effectively.

• International Trade Shows are cheaper and more efficient to make sales contact. Consider this: A Trade association data shows that in 1991 the average cost for a salesperson working for a U.S. industrial goods firm to travel to Western Europe to meet with prospective customers was about $850 per call. This compares with under $350 for each quality lead resulting from a firm’s participation in a European trade show. Additional data show that 54% of all qualified leads developed by surveyed U.S. exporters selling industrial products at such trade shows in 1991 were closed with a fax, letter, or phone call. This compared with the 4.8 in-person visits that were needed to complete the sale.

• One of the major advantages is the support companies can get from us and state governments. Obama Administration’s National Export Initiative, has led even small companies to start considering to participate in International Trade Shows. With offices in more than 100 U.S. cities and 80 countries across the globe, offering U.S. companies exporting information, advice and cost-effective end-to-end international business solutions, it has become never been easier for the U.S. companies to participate.

• The U.S. Commercial Service not only provides end to end solutions at cheaper cost but also helps in various ways like, distributing companies’ marketing materials on behalf of participating companies during the trade event, providing detailed information about various trade events taking place around the world, once in the exhibition U.S. embassies are always around to guide and help the U.S. companies, they even steer the crowd visiting the exhibition hall to U.S. booths, the list is endless…

To conclude, I would say it has become necessary for even small and medium sized U.S companies to come out of cocoon and seriously start considering this platform to exhibit their products not just to increase their selling potential in foreign market but also to create a strong international brand image for the company.

Summary: 

Speaking majorly on benefits that international trade event participation brings this article instigates U.S. based companies to increase their international trade shows and exhibitions participation. With the boost of U.S. enterprises participation in international trade shows these companies can multiply there ROIs. This article gives 9 points advantages which any small, mid cap or large U.S. based organizations can reap by participating in international trade events.