Trade shows are a whirlwind of exciting new products, networking opportunities, and a chance to see what's trending in the party rental industry. You've walked the aisles, collected brochures, and maybe even snagged some free swag.
But the real work begins after the show. Don't let those valuable connections and insights gather dust. Here are five crucial steps to take after attending a rental trade show that will help your business thrive:
1. Prioritize and Follow Up on Leads:
You've likely gathered a stack of business cards and sales materials. Don't let them languish on your desk! Within a week of the show, dedicate time to sorting and prioritizing your leads.
Which vendors offer products or services that directly align with your business needs and target market? Which conversations sparked the most potential?
Create a spreadsheet to track your contacts, including their name, company, contact information, and a brief summary of your conversation. Personalize your follow-up emails.
Reference something specific you discussed at the show to jog their memory and demonstrate your genuine interest. Don't just send a generic "nice to meet you" message. Instead, mention a particular product that caught your eye or a solution they offered that could address a challenge your business faces.
The quicker you follow up, the fresher you are in their mind, and the better your chances of converting a lead into a valuable business relationship.
2. Evaluate New Products and Trends:
Trade shows are a fantastic opportunity to see the latest and greatest in party rental equipment, decor, and services.
Take some time to reflect on the products that impressed you. Did you see any innovative items that could give your business a competitive edge? Are there any emerging trends that you should be aware of, like sustainable party supplies or interactive entertainment options?
Consider how these new products or trends could fit into your existing inventory and service offerings. Would they attract new clients? Could they enhance your current packages? Calculate the potential ROI of investing in new equipment.
Don't rush into purchases, but carefully analyze the market and determine if these trends are here to stay or just a fleeting fad.
3. Analyze Your Competitors:
Trade shows aren't just about connecting with vendors; they're also a valuable opportunity to observe your competitors. What are they showcasing? What kind of clients are they attracting? Are they offering any unique services or packages that you should be aware of?
Use this information to assess your own business. Are you keeping up with the competition? Are there areas where you can improve or differentiate yourself? Maybe you need to revamp your website, update your marketing materials, or invest in new equipment to stay competitive.
Seeing what your rivals are doing can provide valuable insights and help you refine your business strategy.
4. Share Your Insights with Your Team:
Don't keep all the knowledge and insights you gained at the trade show to yourself. Share them with your team! Hold a debriefing session to discuss the new products, trends, and competitive landscape. Encourage your team to share their own observations and ask questions.
This collaborative approach can generate new ideas and help your entire team stay informed and engaged. It also demonstrates that you value their input and consider them an integral part of the business.
By sharing your trade show experience, you can empower your team to better serve your clients and contribute to the growth of your business.
5. Implement a Plan of Action:
Attending a trade show is an investment of both time and money. To maximize that investment, you need to turn your insights into action. Develop a concrete plan outlining the steps you will take to follow up on leads, evaluate new products, address competitive challenges, and implement any necessary changes to your business.
Set realistic goals and deadlines. Assign responsibilities to specific team members. Track your progress and make adjustments as needed.
By creating a clear action plan, you can ensure that your trade show experience translates into tangible results for your party rental business. Don't let the momentum fade – capitalize on the energy and inspiration you gained at the show to propel your business forward.