Have you ever heard of the Inhorgenta trade fair? The event may not a big thing for consumers, however, brands from specific industries such as jewellery, watch, and lifestyle consider it a not-to-be-missed exhibition.
What is Inhorgenta?
Inhorgenta Munich is an international trade fair annually held in Germany. It took place first in February 1973 and has eventually bagged the role as one of the leading trade fairs in sectors like jewellery, timepieces, and gemstones. This year marks Inhorgenta’s 49-year history of successful jewelry and timepiece exhibition. The event has provided unique combinations of individuality, inspiration, and innovation that focus on shaping the future for success.
At the Inhorgenta, attendees get to discover new trends, innovations, and solutions for the future and strengthen the brand presence in the market.
What makes Inhorgenta special? Being one of the most powerful industry partners, brands secure success in the changing market with strong and balanced partnerships through a communication platform provided for the sectors. Brands experience the entire value-added chain for the market at the trade fair.
Let’s discover the benefits that brands, like August Berg, reap when taking part in an international fair like the Inhorgenta Munich.
Reasons why brands must join trade exhibits
1. Raise Brand Awareness
Considering that trade events are specifically targeted at people who are truly interested in the industry, taking part in the fair enables the brands to reach out to high-quality leads. It is a rather straightforward process and a great way to create brand awareness while directly reaching out to more target audiences to achieve better business goals. Exhibitions are a perfect place to establish a brand and strengthen the business’s position in the industry. In conclusion, it shows the brand's presence to the public which is critical for young brands like August Berg.
2. Forge Business Relationships
Forging relationships with some industry-related companies can help enter vertical markets. At a trade fair, there will be opportunities to meet potential partners to create connections for business growth. A key factor in upscaling the business is building a strong supply chain. For instance, suppliers are a critical factor in terms of the quality and availability of products for a product-based business. Not everyone taking part in the fair will be a direct rival to your business. There is a high chance to meet other business owners in the same industry who can make vital connections or even partners that will help both businesses progress. In fact, more than 71% of SMEs have acquired businesses through face-to-face networking at a trade event. Creating professional relationships with suppliers, vendors, or other outsourced services can improve operation which leads to further success.
August Berg is looking forward to expanding the business to more countries via partnerships.
3. Meet Potential Buyers
Other than having online or physical stores, fair shows allow businesses to meet and connect with prospective customers in person. Aside from the opportunity of building bonds with other businesses, joining a trade fair lets businesses have a face-to-face meeting with potential customers which is a great way to introduce the brand and answer some burning questions about the product. Making good first impressions towards the customers with a genuine passion for the business will allow them to have confidence in the brand’s integrity.
4. Get Instant Feedback on Business
Attendees and customers who visit the booth at the trade fair get the chance to ask questions and encourage honest answers right there and then. Being able to discuss face-to-face is a good way of promoting new and existing products and understanding what the public thinks – an opportunity to find out first-hand what the target audience thinks about the products or services in real-time. Collecting feedback from the attendees can create a positive effect as these comments help improve the business.
Basically, a trade show is an ideal environment to test how the audience feels about the business. At the end of the day, the brand will gain some valuable market research that may offer some solutions to certain business issues.
5. Know Business Competitors
Many brands will participate in the trade fair, especially if it’s an international event like the Inhorgenta Munich, including direct competitors. Brands can take the opportunity to observe what effective approaches the competitors are doing or how they execute things differently, then learn from all these and apply similar tactics to the business. Being aware of what the competitors are doing, especially the big players is a good way to keep up with the industry trends in the market.
For young brands like August Berg, it may be a huge riddle on how the competitors’ businesses have grown so well. At a trade exhibit, business owners can take a moment to visit other booths to discern their sales strategies, pricing, services, marketing tactics, and reasons for their success. Learning all of these can educate on ways to boost own business to compete against direct competitors. A trade show gives every brand a chance to scope out the competition.
6. Strengthen Existing Customers Bond
Trade shows not only allow brands to connect with potential customers, but it also provides an opportunity to meet the existing customers face-to-face at the same time. Based on reports, face-to-face meetings are the most effective way to strengthen relationships with existing customers. Being able to meet in person can result in strengthening brand loyalty. Hence, there will be more loyal customers supporting the business.
7. Showcase or Launch New Products
Showcasing new products at a trade show is a good way to maximize exposure and make connections with customers present at the event. Launching a new series or collection during a trade fair makes a clever tactic to get more attention from potential clients and partners. Customers will have first-hand experience with the new products which will potentially drive more sales. It creates a significant impact because it directly presents a company’s new products to the public.
8. Generate Sales
Perhaps one of the primary reasons for joining a trade fair is to generate sales for the business. Attending the event gives the brand an opportunity to expand its customer base. The brand will acquire a higher exposure level to the attendees who are interested in the products or services offered - which means potential customers According to survey statistics, over 82% of the trade show attendees have buying power. It means fair shows provide a great chance to sell products directly to the people in buying mode which will result in higher sales.
For August Berg, joining Inhorgenta Munich for the first time in 2020 was a big opportunity to improve sales considering that the brand is still young.
9. Gain New Knowledge
It may not be that obvious, but trade fairs are an excellent place for business owners to extend and deepen their knowledge. There is a myriad of education sessions available at the event that can act as a learning platform for businesses to explore and learn more about the industry. Keeping up to date with the latest marketing strategies, developments, and technologies allows one to secure a position in the competitive market. The main goal of the fair show is to improve brand presence and generate more sales overall. Attending these educational sessions not only offers new insights and knowledge but provides valuable techniques to aid business growth in the long run.
There are many reasons why being part of a trade show or exhibition is important. For young brands like August Berg, it is to gain exposure to a large and diverse range of audiences including current customers and potential customers. It has been an honour for the brand to be able to take part in the prestigious trade fair, Inhorgenta Munich, for two years. Back in 2020, August Berg was given a chance to showcase its range of beautiful timepieces from its core collections such as Serenity and Reflexion, and its exclusive collaboration with Morris & Co. This year, August Berg is back at the Inhorgenta Munich, from 8-11 April 2022, to exhibit its bestselling watches and to introduce new collections. Stay tuned for these new drops!
Have you had your August Berg watch? Do tag us on our Instagram @augustbergofficial to share how you wear our watch!