increase exhibit & sponsorship sales with sam lippman and jason stookey, nab (iaee 2014...
TRANSCRIPT
7 Ways to Increase Exhibit and
Sponsorship Sales
7 Ways to IncreaseExhibit and Sponsorship Sales
IAEE DC Chapter Luncheon
May 9, 2014
Agenda
• Self-Introductions• Overview of Exhibit Survey’s Study• Sales Training• Prospecting• Differentiated Pricing• Sponsorships• Proving ROI
Audience Polling: Who Are You?
• Show management• Venue/Hotel• Contractor/Supplier• Other
Audience Polling: Years of Experience
• 0 – 3 years• 4 – 7 years• 8 – 12 years• 13 – 18 years• 19+ years
• 37 years producing exhibitions, conferences, forums, and roundtables
• Produced International CES, GRAPH EXPO, and PRINT
• Consults in strategic planning, management, and marketing
• Facilitates board meetings, user groups, and attendee and exhibitor focus groups
• Produce by-invitation events for the exhibition industry
Sam Lippman Founder and President
Lippman Connects
Connect. Inspire. Succeed.
The platform to increase exhibit and sponsorship sales
The meeting for large show managers
Find. Attract. Retain. Grow
• 18 Years of Tradeshow Industry Sales Executive Experience.
• Worked previously for International CES, Hanley Wood Exhibitions and TNT Productions Inc.
• VP, Sales at NABShow since 2011.
• During this time NSF has increased 21% and Sponsor Ad revenue has increased more than 226%
Jason StookeyVice President, Sales
National Association of Broadcasters, NABShow
Key Findings Exhibit Sales Survey
MeasurementAverage Results
Percent who Do Not Change Exhibit Price Year to Year
55%
If Price Increased, % Change in Exhibit Price Year to Year
+2%
Percent who Do Not Change Sponsorship Price Year to Year
77%
If Price Increased, % Change in Sponsorship Price Year to Year
+2%
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Key Findings Exhibit Sales Survey
MeasurementAverage Results
Average Exhibitor Retention Year to Year 80%
Average Net Profit 42%
Percent of Total Revenue Provided by Exhibit Space Sales
66%
Percent of Total Revenue Provided by Sponsorship Sales
16%
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Sharpen Your Saw
• Training defined• Outsourced service
Sharpen Your Saw
• Internal resources / internal training / self-training• Internal audit – Do you have everything you need to succeed?• Role playing• Free resources: e.g., LinkedIn groups
Two-thirds (68%) Provide Sales Training
No, Training is Not Provided
Other
Training is Provided via an Outsourced Service
Training is Provided In-House
32%
13%
28%
38%
Sales Training
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Prospecting Sources
Competitive Event Directories
Industry Publications (Print)
Industry Publications (Online)
Other industry organizations
Hoovers/Dun & Bradstreet
Other Social Media
Other Online Tools
Data.com (Jigsaw)
Exhibittrac
Other
67%
65%
58%
44%
24%
18%
13%
7%
6%
4%
10%
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Using Social Media for Prospecting
• Do you know your customers?• Do you know their objectives? • What keeps them up at night?• What are their goals?• Where else are they making investments?
Usage of Differentiated Pricing
Not Using or Planning to Use; 64%
Currently Using; 24%
Planning to Use; 11%
Not Aware of Practice; 1%
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Usage of Differentiated Pricing
Sample comments regarding reasons for not using:• Internal disagreement on benefit of this marketing strategy.
• Seems to devalue less desirable locations in the event if specific locations are priced less.
• Want to learn more about this strategy before considering it, especially the disadvantages.
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Sponsorships
• Mobile Apps• Digital Platforms (including listings, video, dedicated emails)• Yearlong social media exposure • Education stage and classes on show floor• Wi-Fi splash screen and charging kiosk logo• Café/Restaurant • Bag inserts with exhibitors’ materials• Bathroom door clings• Hotel sponsorship (elevators, door drops, key cards, etc.)
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Sponsorships-Print-On-site-Digital
Proving ROI
Attendee demographics
Attendee purchase plans/ buying influence for specific products
Analysis of total leads gathered at the event
Attendee traffic patterns
Sales conversion research
Exhibit performance studies for anchor/ bell weather exhibitors
Third-party industry research by analysts
86%
74%
53%
38%
33%
31%
23%
Potential Effectiveness of ROI Measurement Methods (Rated Extremely/Very Effective)
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Techniques to Help Prove ROI
• Testimonials/referrals • Case studies• 3rd party audit • Pre-show exposure data• PR – press mentions, social
media measurement• RFID tracking of attendees’
traffic/show activities
• Exit interviews • New product introductions• Explaining data given to
exhibitors
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Challenges for Proving ROI(Exhibit Sales)
• Exhibitors focus on increased costs • Proving the quality and quantity of attendees• Competing with other non-show marketing/advertising opportunities• Mergers of companies in industry = fewer buyers• Exhibitors downsizing space to save costs• Decreasing marketing budgets for live events• Exhibitors more interested in program content than exhibit floor
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Challenges for Proving ROI(Sponsorship Sales)
• Need data on audience behavior/likeliness to buy• Demonstrate value of previous events, forecasts for future events• Offering new ideas/opportunities• Hard to “paint the picture” of new offerings for potential sponsors• Expand the number of exhibitors buying sponsorships
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Challenges for Proving ROI(Sponsorship Sales)
• Price – budget constraints• Expanded price points of offerings • Healthcare industry legal requirements/The Sunshine Act• Stronger digital content strategy to build online synergies• Possible trade-off with booth sales• Finding the right person to approve sponsorship buy
Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
Questions?
For more information, contact: