How To Conduct A Competitive Research At Your Next Trade Show

Published April, 2024
How To Conduct A Competitive Research At Your Next Trade Show

How To Conduct A Competitive Research At Your Next Trade Show

Trade shows are more than great opportunities to network with customers and suppliers. They are the perfect chance to research your biggest competitors. Observing your competitors at a trade show will tell you a lot about their positioning. You’ll be able to see how your competitors engage with potential clients. You’ll learn their sales pitch, how they handle objections, and if they offer special trade show pricing or incentives. All of this information can help you stay competitive, differentiate, and, ultimately, capture more market share.

Here are some tips on how to conduct competitive analysis while at your next trade show:

1. Conduct Pre-Show Research On Your Competitors

Before attending the trade show, identify which of your key competitors will be in attendance. You can usually find this information on the exhibitor list or map or by contacting the trade show organizers directly. Make a plan to visit competitor booths and add any competitor presentations to your trade show schedule.

2. Observe Your Competitor’s Booths

At the show, visit competitors’ booths to see their booth designs, product displays, and visitor engagement. Take note of any new products or services they are showcasing. Make sure to pick up any brochures, product datasheets, and promotional items from competitor booths. These materials can provide insights into their marketing strategies and product features. Further, observe how your competitors are attracting visitors to their booths.

3. Attend Networking Events

Use networking events to talk to industry peers and customers about their perceptions of your competitors. Casual conversations can often reveal opinions and experiences that are not evident from marketing materials. Further, if your competitors are conducting presentations or workshops, make sure to attend. You can gain insights into their sales pitches, product demos, and key selling points. Also, don’t forget digital networking. Check social media channels for mentions of your competitors during the trade show. Attendees and competitors may post updates, opinions, and announcements that can provide additional insights.

After the trade show, compile all the information you gathered during the trade show. Then, analyze your data to identify strengths, weaknesses, opportunities, and threats within your competitive landscape. With this information, you can further differentiate and improve your competitive position in the market.

Our full-service exhibit company can help you outshine the competition. Contact Lighthouse Exhibits to learn about creating an unforgettable experience at your next trade show.