In this post I am providing some example techniques I use to attract high-quality audiences to the trade missions I work for in foreign markets.
Have you ever wondered why some sectoral trade missions seem to effortlessly attract high-quality participants and generate buzz, while others barely make a ripple? The difference often lies not in the mission's inherent value but in how it's promoted and incentivized. Sectoral trade missions present a golden opportunity for exporters to delve into new markets, forge vital connections, and leverage the credibility of organizing agencies. Yet, despite their potential, many missions fail to achieve their objectives due to inadequate promotion and lack of compelling incentives. This article draws on my experiences as a B2B matchmaker to unveil proven strategies that can turn any trade mission into a must-attend event for target market companies.
The Pitfall of Poor Promotion
All too often, the promotion of sectoral trade missions is confined to lackluster email blasts from organizing chambers of commerce to their members. Such communications usually do little more than announce the event and list participating companies, without providing any compelling reasons to attend. This minimal effort fails to unlock the full potential of these missions, relegating them to being little more than glorified tourism trips for a delegation of business people, minus the targeted business matchmaking opportunities that define their core purpose.
Crafting a Compelling Value Proposition
Your value proposition is the answer of a very simple question that every single business owner you invite will be asking to himself: “What’s in it for me?” For buying missions, the benefit is straightforward: connecting buyers with sellers at the target markets without the need for extensive travel. However, the majority of trade missions aim at export promotion, necessitating a more nuanced approach to attract potential buyers and partners to the meeting table.
Making Trade Missions Irresistible to Target Companies
As a B2B matchmaker with extensive experience in orchestrating trade missions across diverse markets, I've recognized the critical role of effective incentives in making trade missions irresistibly appealing to companies in the target country. The recommendations I offer in this article are distilled from my firsthand experiences — they are the strategies and techniques I employ to draw an audience to the trade mission projects I am involved with. Drawing on this wealth of practical knowledge, I believe these insights can serve as valuable tools for any trade mission organizer looking to attract a high-quality audience to their meeting programs. By tailoring our approach to promotion with these proven incentives, we can significantly enhance the attractiveness and, consequently, the success of trade missions, ensuring they fulfill their potential as platforms for fruitful business matchmaking and international collaboration.
Start with Your Participants
My initial advice for those embarking on the promotion of trade missions is to acknowledge that your participants are your most valuable asset. These businesses and entrepreneurs are the mission; their offerings, achievements, and aspirations are what you will present to the world. Hence, a detailed study of each participant is not just beneficial but essential.
You must be ready and willing to make a comprehensive research on your participants.
This involves delving into:
Products and Services: Understanding the unique value propositions of what’s being offered.
Company History: Gaining insights into the journey, growth, and evolution of the participating firms.
Past Successes: Highlighting achievements that underscore credibility and expertise.
Noteworthy Activities: Any remarkable ventures, collaborations, or innovations that could pique interest.
While much of this information can be gleaned from the participants' websites, expanding the search to include news articles and Google searches can unearth valuable insights that enrich the promotional narrative. As a B2B matchmaker, my analysis extends to sectoral activity codes (NACE, etc.), HS codes of their products, and their clientele for matchmaking purposes. However, for the promotion of the trade mission, the aforementioned information serves as the cornerstone.
Incentivizing Trade Missions
Below I provide you with some of the foundational incentives that have proven effective in elevating the appeal of trade missions I worked previously:
Sample Distribution: Allowing participants to bring product samples for potential buyers can create tangible interest. An instance from a South Korean delegation I facilitated involved the exchange of a high-value test device with a Turkish firm, opening doors to significant project bids. Highlighting participants willing to share valuable samples can pre-engage potential visitors.
Spotlighting Innovations: Showcasing participants who offer novel technologies or products for the target market can serve as a strong draw. These innovations can be prominently featured in promotional materials.
Emphasizing Experience: Experience and know-how of your participants might be influential in attracting audience to your trade mission. For example; “How Turkey’s Most Innovative Security Systems Manufacturer Gurantees Zero Theft in Retail Stores”
Highlighting Success Stories: Using participants' past achievements and references may attract visitors. Whether it's involvement in a prestigious project or unique expertise, these stories resonate with potential attendees looking for proven expertise. For example; if you have a participant who had been involved in a globally recognized project you can ask him or her to make a small presentation such as: “Style Tips from the Costume Designer of James Bond Movies”
Engaging Through Side Events: Side events like workshops and seminars offer additional networking opportunities and can significantly enhance the attractiveness of trade missions. For food sector missions, "Tasting Days" can generate interest among targeted buyer groups, while fashion or textile missions might benefit from a mini fashion show to draw in relevant attendees. Similar innovative side event concepts can be imagined for almost any trade mission.
VIP Participants: The potential involvement of VIPs from the target market can further elevate the event's profile, making it a not-to-miss opportunity for local businesses. Not every mission can ensure the participation of Ministers, Governors or Ambassadors but top executives of prominent companies or sectoral celebrities are also VIP participants. You must spend some time and effort into ensuring your trade mission is greeted by the right kind of VIPs.
Speaker Invitations: Inviting key buyers or VIPs to a half day seminar or a workshop organized concurrently with your trade mission can be helpful in attracting critical individuals and opinion leaders to your event and may create important avenues for promoting your trade mission. There are many opinion leaders who might not be persuaded with neither money nor networking opportunities but would be just glad to receive recognition from a foreign trade body (such as the organizer of a foreign trade delegation). Potential targets include: Chamber of Commerce Presidents, Association Leaders, Heads of Trade Development Agencies and top executives of important buyers in the target market. I remember hosting the top procurement executive of a major utility in one of our trade mission workshops in Middle East which caused incredible fuss in the target market and gave way to substantial satisfaction amongst participants.
Freebies: The strategic use of gifts, from free trade fair entries to product giveaways, can encourage participation, provided they align with the mission's budget and objectives. Anything of value can be used as a freebie. A very simple example: I was a part of the team conducting the B2B matchmaking of the Malaysian Pavilion during EXPO 2020 in Dubai. We scheduled hundreds of B2B meetings for 26 trade missions for 6 months. I was offering a free one-day entrance to the EXPO for any company I was inviting to the B2B meetings. Even though most of the executives I contacted had season-passes for the event, they were still happy to hear someone offering them something of value for their time. I got very few rejections.
Important Warning: Announcing promotional materials such as agendas, pens, lighters and keychains that your participants distribute to the companies they meet with, in press releases will make you look cheap. Don't do it.
These are just a few of the techniques you can employ to make your trade mission more appealing and effective. However, the realm of possibilities is vast, with many more tactics available that can further enhance the attractiveness of your trade mission. With a bit of creativity and imagination, I am confident you can discover numerous additional methods to incentivize participation. The key is to think outside the box and consider what truly motivates your target audience, leveraging unique and innovative approaches to engage and attract high-quality attendees to your trade mission.
Looking Ahead: The Role of Public Relations
These recommendations offer a glimpse into the multifaceted approach required to enhance the appeal of sectoral trade missions. While the suggestions herein are universally applicable, the execution of such strategies is as much about what we offer as it is about how we communicate our offerings.
The next article will delve deeper into "Public Relations Techniques for Trade Missions," exploring how strategic communication can further amplify our efforts, ensuring that our trade missions not only attract but also engage and resonate with the targeted companies.