Growing your product business from SME requires a strategy that covers marketing, product development and positioning. Part of the overall strategy should definitely include attending and exhibiting at events including fairs, trade expos and conferences. Here is why…
Networking is one of the most powerful things you can do for your business. Networking is all about building relationships and it is these relationships that your business can be built upon. Networking can lead directly to building customers, gaining investment or creating partnerships. Events are a great place to network with both your ideal clients, investors and other people in your industry. Always remember when you make a connection with someone it isn’t just them as individuals you meet but all the people they are connected to as well.
Know your industry
Fairs, trade expos and conferences usually have a theme and attract businesses from the same industry. They often showcase the latest innovations and have open forums to discuss the most relevant challenges facing the industry and the businesses within it. By either attending or showing at these events you are positioning yourself in the forefront of this knowledge. You will also know what sort of products are currently getting funding what is creating a buzz, this will keep your business on the cutting edge.
Raise your visibility
The more relevant places you are, the more visible you become. When you want to be known and recognised as an expert in your field you have to position yourself alongside the other experts, investors and influencers. Events are where these people gather and so it’s where you should be too.
Get direct feedback
Understanding how your product is received by your industry and your ideal clients is very valuable and the direct feedback that comes naturally from the interactions at an event is a perfect way for you to gain valuable information that you can use as your business grows or if you want to explore investment.
Listen, learn and be inspired
You might know a lot about your product but there is always more to learn. These events often have high-quality speakers and presentations that will help you to stay informed but more than that, they are often intended to inspire you by giving you motivation and innovative ideas to move your business forward.
Where to go?
There are fantastic events held in all corners of the country and we definitely recommend doing the research into your industry and your locality to find the right events for your business. We would, however, like to recommend VentureFest, a nationwide organisation that aims to bring together ideas, investment and expertise.
Also be aware that Nexus IE’s very own, Adrian St Clair Brown will be speaking at the next Great British Business Show in London this May, sharing his insights on the importance of product development strategy to help SME’s attract funding and take their products all the way to market. We would love to see you there.
Don’t just take our word for it though. One of our clients Ojee Golf project has gained exponentially from the connections made at events, in particular, one connection he made at VentureFest Tees Valley with Nexus IE. This relationship led to a collaboration that has been instrumental in Ojee Golf’s business growth. Matt from Ojee Golf shares his experiences here.