Five Reasons Why Trade Shows Are Good for Business – And Also Good for the Offshore Market
Following four years in the dark depths of the worst downturn since the 1980s, the turbulent tides facing the offshore market have been nothing short of tempestuous. A drop in demand for oil; low prices and the subsequent decrease in offshore activity have taken their toll. Budgets have been slashed. And achieving crucial business objectives has been far from plain sailing for many.
It hasn’t been easy. Yet throughout it all, the businesses; service providers and suppliers who keep this market afloat have shown a remarkable resilience. And now, the tides are finally starting to turn. Oil price is starting to increase and recovery is on the horizon.
As the market shows signs of repairing itself, now is the time to start building bridges with potential buyers – meaning that the need to intelligently invest in the right Marketing channels has never been more important.
Email marketing, social media, PPC… it all has a place. However, there is one channel that stands head and shoulders above the rest – yet is so frequently overlooked and undervalued. And that channel is trade show marketing.
Admittedly, trade shows are a big investment and measuring return is becoming increasingly imperative – particularly when market conditions aren’t quite perfect. But even if market conditions aren’t perfect, there is still so much value in positioning your business at the centre of a trade show and exploiting the benefits of crucial face-to-face time.
The people who attend trade shows have both budget to spend and time to invest. They’re highly engaged, active individuals; passionate about finding solutions to help the offshore market on its course to recovery. And as oil prices show signs of rising and more vessel owners are awarded work, there’s more opportunities awaiting the wider supply chain.
And if a community is coming together, that can only be good for that industry.
Here are five reasons why trade shows, like Seatrade Offshore Marine and Workboats Middle East are important for your business – and why they’re even better for the recovery of the offshore market.
- Build Lasting Relationships With Your Industry…
Every buyer who attends a trade show relies on having a powerful supply chain – and trade shows provide an opportunity for those buyers to find suppliers and service providers under one roof. If you take the opportunity to meet other industry professionals, then you will likely discover ways that your companies can benefit each other.
2. …And Equally-Important Relationships Within the Region
Tradeshows that are based in specific regions provide a fantastic gateway for international businesses to get a stronger foothold in a regional market – particularly when that event is in one of the industry’s most buoyant regions.
Take Seatrade Offshore Marine and Workboats as an example, which takes place in Dubai. According to the International Shipping Centre Development Index, Dubai comes in as the fifth most-important maritime centre – and if you ask Menon Economics and DNV GL’s Leading Maritime Capitals Report 2019, the Emirate is the ninth best maritime metropolis. And with a GDP of around US$7.3bn; 7,000+ active maritime companies providing employment to roughly 76,200 individuals and exceptional export links with the rest of the UAE, it’s not hard to see why.
If you’re looking to form profitable relationships with a region – like UAE – then exhibiting at a trade show in that region is a guaranteed way of meeting the right stakeholders in abundance.
3. Take Advantage of Face-to-Face Networking
Emails and conference calls have their place but engaging with the person behind the numbers, the proposals and the contracts is incredibly reassuring for prospects – particularly when a market is in recovery.
When you speak directly to a potential client and spend the time to build a relationship with them, your creating a wall of trust that helps your message last longer. You can’t really recreate that emotion or experience across a screen – because no amount of PPC can measure up to human interaction.
And a community connected by human interaction will always be stronger than an industry based on a digital connection.
4. Research Your Industry – And Your Competition
If you exhibit at a trade show, you’ll be standing shoulder-to-shoulder with other big names within the industry. Grasp the opportunity to learn from your competition and network with other professionals - all while ensuring you stay immersed in what the market is offering.
Tradeshows that offer a conference stream (like Seatrade Offshore Marine and Workboats Middle East) also offer the perfect stage to stay on the cutting edge of industry news, research and product development.
Seatrade Offshore Marine and Workboats Middle East offers the region’s most comprehensive conference agenda and covers the most critical issues facing the offshore market. From exploration to diversification and oversupply, you’ll be able to learn from the brightest minds in Offshore and absorb actionable industry insight that not only benefits your business – but also your community.
5. Monopolise Genuine Sales and Lead-Gaining Opportunities
Trade show are often a hive of excitement, with thousands of attendees searching for solutions that meet their business needs. And if you’re part of a niche, specific exhibition then you’ll have access to a concentrated volume of high quality (and highly relevant) individuals to target.
Seatrade Offshore Marine and Workboats Middle East absorbs general offshore marine, but has a special focus on its specialist vessels, and equally every type of business who services those vessels. Due to the highly targeted nature of the event, you’ll meet buyers who are not only influential, but also pertinent to your business.
Industry professionals are often motivated to attend trade shows because they want to expand their existing network; discover new products and connect with suppliers. In fact, the Center for Exhibition Industry Research suggests that a whopping 92% of tradeshow attendees come to see and learn about what’s new in products and services.
Taking part in a trade show is a big investment – but it could be your best yet. For more information about joining Seatrade Offshore Marine and Workboats, get in touch with our dedicated sales team today.