International trade is the most important activity of the world economy and a dominant subject of international economic cooperation between the domestic economies of the world.
International trade fairs represent an effective forum for the main players of a given sector to meet in a single space, at a given time. A crucial networking platform that leads to the identification of potential clients and also to keeping in touch with the client.
Successful and rapid growth can result from involvement in international Networks, as key partners provide a mechanism for access to foreign markets, especially for start-ups or SMEs, whose international experience and resources are limited.
The importance of the Networks and their role in the performance of the internationalisation process of companies is widely recognised, where their training, quality and maintenance are essential for the penetration and conquest of a new market, amplifying the buyer-seller relationship dyad and maximising the impact of the Network’s relations in the internationalisation of small companies.
The Network, resulting from systems organised to enhance the relationship between entrepreneurs and the outside world, are particularly valuable to SMEs. The negotiating fragility that comes with the size and scope of the SME can be compensated by the supportive environment provided by the event.
In addition to the impact and motivation from a commercial perspective and the scope of companies participating in an international trade fair, exhibitors’ motives should include acquiring information on products, competitors, latest technologies and as a vehicle for target-oriented product presentation. The environment of these events is conducive to a scenario of initiation, recognition and positive notoriety for accessing a foreign market.
To achieve this goal, it is essential to establish an internationalisation strategy, where the goals to be achieved, the international actions to be undertaken, the message, the interlocutors and the budget must be clearly explained. This is fundamental for an internationalisation process to be viable, successful and to respect the defined premises.
From this perspective, participation in an International Fair should combine the following actions, which may be the company’s internal responsibility or with recourse to a specialised external entity.
- Definition of objectives, according to the phase of the internationalisation process in which the company finds itself;
- Choosing the appropriate event in relation to these objectives;
- Selection of the participation format: face-to-face, digital or hybrid;
- Definition of the client’s profile and creation/adaptation of the communication material;
- Planning and timing of the action, highlighting the budget setting and engagement actions prior to the event;
- Conceptualising, creating and building/developing the stand;
- Training the team participating in the action: cultural approach, negotiation, roles and responsibilities in the implementation of the action in relation to the objectives;
- Logistic and operational management of the event;
- Conclusion and assessment of the event from the various perspectives in the light of the set objectives;
- Monitoring, enhancing and feeding the Network established in the event.
For SMEs, International Trade Fairs should not be a one-off investment with a centralised and quantified sales objective, but rather an entry point into long-term Networks where sales will eventually materialise.
In summary, International Trade Fairs go far beyond a marketing, sales and information platform, embodying a crucial tool for the establishment and improvement of a Network infrastructure, with a special impact on SMEs, allowing companies to grow and expand internationally, leveraging their positioning in the global market.
International Trade Fairs provide a neutral territory and a Network space for companies to interact and exchange resources vital for the advancement of their internationalisation process. These events appear as an important accelerator driver of internationalisation, regardless of the stage the company is at in the internationalisation cycle.
