Participating in the Canton Fair is an extremely important opportunity for foreign trade enterprises. The Canton Fair is known as the vane of China’s foreign trade industry, attracting buyers and suppliers from all over the world. Let’s take a look at the benefits of foreign trade enterprises participating in the Canton Fair.
Participating in the Canton Fair can bring the following potential benefits to foreign trade enterprises:
Increase exposure: The Canton Fair attracts suppliers from all over the country, and the exhibition can increase the international exposure of enterprises and products.
Establish connections: Enterprises can directly contact potential users, develop new business connections or strengthen existing cooperation.
Market insight: Actively communicate with international buyers, and enterprises can obtain first-hand information on market trends and consumer preferences.
Competitive analysis: Enterprises can observe the product market strategies of their peers and then adjust their own competitive strategies.
Orders and sales: Orders can be signed directly to increase sales.
Therefore, when deciding whether to participate in the Canton Fair, foreign trade enterprises can choose the following factors to measure:
Cost-benefit analysis: Exhibition costs include booth costs, building decoration, transportation, accommodation, personnel travel, etc. Companies need to assess whether the hidden revenues outweigh these costs.
Market positioning and customer base: Companies need to determine whether the Canton Fair attracts their market positioning and customer base, that is, whether there are enough potential users participating.
Product preparation: Are the exhibited products innovative and competitive enough to attract buyers’ enthusiasm?
Marketing and marketing strategy: Whether the exhibition fits the company’s overall marketing and marketing strategy, and whether there are clear goals and plans to achieve these goals.
Alternatives: Consider other marketing methods and trade shows, and evaluate whether there are more suitable or low-cost alternatives.
Before participating in the Canton Fair or other exhibitions, it is recommended to determine specific goals, and the following three main indicators can be used as a reference:
1. Promotion cost (CPL): The promotion cost of the Canton Fair should be lower than that of other channels;
2. High willingness of potential users (SQL): These users need sales staff to track the number of associations established with customers at the exhibition;
3. Final conversion effect (ROI): The final order amount is within 3-6 months. ROI is equal to the final order amount minus the cost. If the value is greater than 1, it also means better results. The higher the better.
Participating in the Canton Fair is an important opportunity for foreign trade companies to increase exposure, build connections, gain market insights, conduct competition analysis, and increase orders and sales.
However, companies need to conduct a cost-benefit analysis before participating in the exhibition, determine market positioning and customer base, and evaluate product preparation, marketing strategies, and whether there are other alternatives. By setting specific goals and tracking promotion costs, potential user intentions, and final conversion effects, companies can better grasp the opportunities brought by the Canton Fair and promote the development of foreign trade.