Trade Show Tips

New Study Confirms the Value of Trade Shows

In the May, 2004 edition of Sales & Marketing Management, a new study has proven the enduring value of trade shows. Of the 249 executives surveyed, 22% state that "trade shows are the marketing method that yields the highest number of sales leads," more than any other source.

Why are trade shows valuable?

• Trade shows are face-to-face, which gives us a better idea of what the other person/business is about - that data will not transfer in other media or at a distance.
  
  
• Trade shows are the most effective way to market a small business. This is one place where small businesses can compete on a level playing field with larger firms.
  
  
• Lead generation - as confirmed by the S&MM study mentioned above.
  
  
• You have the opportunity to discover and share new products/services.
  
  
• Network. The larger your network, the greater the benefits you can gain.
  

So, go to a show. Exhibit. Experience. Network.

Source: "Competing Ideas", Modern Machine Shop, Wayne Chaneski.

Target Your Customer Group Before, During and after Trade Shows

The average attendee walks into the show having already picked 75% of the exhibits they plan to visit. This means you have to contact your target audience prior to the show, during and after. The idea behind exhibiting your company at a trade show is to gain exposure, build credibility and find new prospects. To reach this goal, pre-show promotions, in-exhibit promotions and post-show follow-up are key elements to a plan that will positively affect your target customer group.

The pre-show promotion should contain three fundamentals: the show's registration list, either from last year or current; a plan of the content within your exhibit to attract your target customer group; and a proclamation of the benefits your target customer group will receive by placing your exhibit on their must-see agenda. The pre-show promotion could be a personal invitation to visit your exhibit or a simple email.

In-exhibit promotions should reach out to the target customer group. Make them feel that you are there specifically to meet their needs by applying a personal and open approach. Some ideas to keep in mind when considering a promotional giveaway follow:

1. Be original to increase your company's memorability.
   
   
2. Keep the giveaways out of sight. This will reduce expenses on these items.
   
   
3. Reward a potential lead with a unique and memorable giveaway
   

Post-show follow-up is extremely important. A personal touch goes a long way. An example would be to send a handwritten postcard along with a phone call or perhaps something more creative. Following-up with a personal touch can give your company a bigger presence than your exhibit space may have allowed.

Why 8 out of 10 Leads are Not Followed Up and What to do About It

Have trouble qualifying and following up on leads? You’re not alone. Almost 80% of leads generated are never followed, according to the Center For Exhibition Industry Research (CEIR). Rather than sending your hard-fought trade show leads into the abyss, strive to be part of the elite 20% that actually follow up on their leads! We’ve heard horror stories of exhibits pulled out of storage to prepare for a show – only to find the leads from the previous show still packed with the exhibit. What a tragedy!

So what’s the problem?
Most leads are not qualified. The information captured lacks sufficient detail to provide a bridge between the show and the sale. So follow-up is no different than cold calling. Because few exhibitors have systems in place to capture, fulfill and follow up on leads, so we don't get as much out of them as we should.

What can we do?

1. Create a lead form to capture specific information and get your sales organization to review and sign off on it.
   
   
2. Train your booth staff to capture that information and get them to prioritize leads as they are generated and review them each night for completeness.
   
   
3. Create a system to manage leads. When the show ends how do they get fulfilled, who is responsible for the transmittal letter and lead management reporting, when and to whom does the sales force report results?
   
   
4. Prepare your lead follow/fulfillment before leaving for the show. If you are sending a letter along with literature, prepare and store it so all you have to do is text merge your leads into your word processor. Most exhibitors go to shows to accelerate the sales cycle. In order to accomplish this goal, a well thought out lead management system needs to be in place.

Remember, trade shows are very effective tools to create qualified leads. They could also be an effective media to create sales – but only if the leads are followed up appropriately and in a timely manner.

Used by permission of Skyline Exhibits

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