The sun is setting on 2022 and it has been a very successful year of international opportunities so far! The Forex Expo in Dubai has recently come to an end and Praxis gained some invaluable information whilst in attendance. With expo fever still in the air, we thought it would be the perfect time to share our journey with you.
“A trade fair, also known as trade show, trade exhibition, or trade exposition, is an exhibition organized so that companies in a specific industry can showcase and demonstrate their latest products and services, meet with industry partners and customers, study activities of rivals, and examine recent market trends and opportunities.”
Attending expos around the world isn’t to simply explore a new area. So why do we attend expos, and what do we have to gain from them?
On the top of our list, is to connect with future customers face-to- face. The digital world is constantly growing, businesses and employees can do just about anything virtually. Research shows face-to-face requests are 34 times more effective than those sent by email, and that a physical handshake promotes cooperation and influences negotiation outcomes for the better. In person meetings also give us a great opportunity to grow our bond with existing clients, putting a face to name that we work so closely with on a day to day basis.
According to an SME survey, over 71% of SMEs have gained business through face-to-face networking at a trade show.
Growing your business’ global presence is a must when expanding to new markets. Having a stand at an exhibition is a great way to make a name for yourself in your industry, or grow your existing brand identity. We pride ourselves in offering our services in even the most hard to reach locations, and we want to make payments possible no matter where you are in the world. By expanding our global presence, we help you expand yours!
More than 92 percent of tradeshow attendees are looking for new products and services in the market.
The logic behind expos is simple. People attend expos as they are already looking for something. It gives you a unique opportunity to sell your product to a hall full of people who are already receptive and interested in what you have to offer! We can all agree that the Fintech industry is constantly evolving, and we need to stay ahead of the game! On average, attendees spend 8.3 hours viewing various trade show booths which provides you plenty of time to connect with your target audience. According to Exhibition Survey Inc, over 82% of exhibition attendees have buying authority. This means exhibiting gives you an invaluable opportunity to close deals with people in buying mode, and gain leads that will transform your business.
As a business, our merchants are at the core of everything we do. We are constantly striving to grow and improve our product based on our clients needs and wants. Attending expos doesn’t only help us to gain prospective clients, but gives us an opportunity to understand what clients actually want and don’t want. It’s almost like creating a customer survey without having to encourage people to take the time to fill it in. This is the perfect environment to test the waters on how merchants feel about new ideas and changes we wish to promote. You also see how your competitor’s new product or service goes down with the crowd, and will help you decide if this is something you want your business to do or avoid – which helps you plan for your future business strategies.
Now that we have established the vast positive effect businesses can have from attending an expo, let’s discuss the expos Praxis have attended this year!
The first expo on our agenda was the iFX Expo Dubai in February, the largest financial B2B expo in the world. This was followed by another Dubai Expo, the Crypto Expo in March. At the end of May we attended the Seamless Middle East Expo, following shortly after was the iFX Expo in our very own city of Limassol in June! In July, Amsterdam was next on our radar with iGB Live, and then iFX Bangkok in September.
Our team have just got back from attending the Forex Expo in Dubai which was an awesome success, and our next stop is SiGMA Europe in November! With a very productive year of international appearances and invaluable opportunities, we are in no rush to slow down! 2023 is just around the corner and we are already planning our next Praxis On Tour adventures, with ICE London in February at the top of our list!
Where will Praxis be next? We are constantly looking for new opportunities on where to take Praxis and share our knowledge on the Payments Industry and how we can help. Don’t miss out on all our Praxis On Tour news, contact us to stay in touch!