june 6-10, 2009 anaheim, ca how to strategically plan for successful trade shows t trade s show b...
TRANSCRIPT
June 6-10, 2009 Anaheim, CA
How to Strategically Plan for Successful Trade Shows
TTradeSShowBBob
What will I learn here?
The basic forces at work in every trade show What can we get out of our trade shows How to plan for and control successful outcomes The 3 Critical Success Factors The main reason why trade shows fail
SomePerspective
Trade shows are THE oldest form of marketing in existence, dating back thousands of years.
Yet – it’s the most misunderstood and under-studied marketing discipline around.
As a result, trade shows have the reputation of a necessary evil.
However, when done properly, trade shows can be your most effective marketing tool.
Trade shows are the only place where …
The customer/prospect comes willingly to you face to face
With an open mind On turf you control
All three of these things occur:All three of these things occur:
Basic Show Drivers
1. Organizers2. Exhibitors3. Attendees
There are 3 basic groups that There are 3 basic groups that participate in each trade show.participate in each trade show.
Understanding each group and Understanding each group and their needs is key to having their needs is key to having
successful trade show plans.successful trade show plans.
Basic Show DriversOrganizersOrganizers
AttendeesAttendeesExhibitorsExhibitors
$$$$$$ $$$$$$
QualifiedQualifiedAudienceAudience
OpptyOpptyfor ROIfor ROI
Face-to-FaceFace-to-FaceNetworkingNetworking
SolutionsSolutions
ValueValue
Why don’t my shows work?
Most exhibitors do not know how to plan for success at their trade shows
Virtually all exhibitors take their trade shows for granted
Business schools do not offer courses in Trade Show Marketing
Most trade shows (in general) display this lack of knowledge and attention
Exhibit with a Purpose
75% of all exhibitors have no idea why they’re there
If you’re investing $$$ - - shouldn’t you expect a return?
What do you want to buy with your investment?
Exhibit with a Purpose Four basic kinds of outcomes are feasible
through exhibiting at trade shows ….
Sales objectivesSales objectives Marketing objectivesMarketing objectives Research objectivesResearch objectives Recruiting/Partnering objectivesRecruiting/Partnering objectives
Exhibit with a Purpose Typical sales objectives include ….
Generating leadsGenerating leads Closing salesClosing sales Finding new prospectsFinding new prospects Discussing existing projectsDiscussing existing projects Cross sellingCross selling Relationship buildingRelationship building Smoothing ruffled feathersSmoothing ruffled feathers Introducing new players/structuresIntroducing new players/structures
Exhibit with a Purpose Typical marketing objectives include ….
Brand positioningBrand positioning Broadcast messagesBroadcast messages Press releases and announcementsPress releases and announcements Instructing existing usersInstructing existing users Public relationsPublic relations Media relations & coverageMedia relations & coverage Social events – large partiesSocial events – large parties
Exhibit with a Purpose Typical research objectives include ….
Competitive auditsCompetitive audits Attending sessions & keynotesAttending sessions & keynotes Networking with industry leadersNetworking with industry leaders Interviewing/surveying customersInterviewing/surveying customers Interviewing/surveying non-usersInterviewing/surveying non-users Using the audience to gather dataUsing the audience to gather data
Exhibit with a Purpose Typical recruiting/partnering objectives include ….
Recruiting helpRecruiting help Identifying acquisition candidatesIdentifying acquisition candidates Finding potential strategic partnersFinding potential strategic partners Finding potential suppliersFinding potential suppliers NetworkingNetworking
Exhibit with a Purpose Which of these outcomes are feasible at your
trade shows ….
Sales objectivesSales objectives Marketing objectivesMarketing objectives Research objectivesResearch objectives Recruiting/Partnering objectivesRecruiting/Partnering objectives
Focus on sales objectives
Sales potential at a given show is limited by the number of qualified buyers/users/influencers who attend
Not everyone who attends will be interested in your stuff
The key is to sort out the serious buyers from the trick-or-treaters
Potential Audience
Term to describe the number of your interested potential buyers attending
Potential Buyers =• Total attendees –• Exhibitors –• Media/press –• Students –• Spouses/Friends –• Pets & dead people
Potential Audience Potential Audience =
(Potential Buyers)
MINUS
(buyers w/ no common interest in what you sell).
Potential Audience
1000
400
40
0
100
200
300
400
500
600
700
800
900
1000
Total Audience Net Buyers Common interest
40%
10%
Now … decide
Are there enough of your buyers going? What is your average sale to this group? Can you find a way to attract them into a quality
interaction with you? If successful, might you achieve a payout that
could exceed expenses?
IF NOT … … … … DON’T GO
Focus on sales objectives
Now – decide what will be your key measure of success
Something you can count Something that will give you a reasonable chance
to predict future revenue
Set up your metrics• Who’ll count and report• Where will the count be kept
YourPotentialAudience
Gather
YourAudience
Filter
TotalAudience
Basic strategy driver
Trade Show Success Factors Focus on “The 3 Critical Success Factors”
1. Attract ENOUGH of the RIGHT people to your exhibit
2. Gain COMMITMENTS from these visitors for a desired next action step
3. Make FOLLOW-UP easy, and follow up for AS LONG AS IT TAKES to close the sale
Attract Enough of the Right People Know who the right people are Figure out how to identify them in the show
environment Define your niche where you can compete for
their attention Get on their dance card – become a “must see”
destination Design your messages - KISS
Getting on their dance card
With the recent economic climate ….. things have changed
People attend shows differently You need to get their attention before they arrive You need to be on their agenda You need to reach your potential audience prior
to the show
Getting on their dance card
How do I reach my potential audience?• Know how big it is (talk to organizers)• Find out who they are (get lists)• Send the most effective communication you can
(direct mail, email, phone calls, etc.)• Make them notice you (lumpy mail)• Spend as much as is appropriate for you to afford
Use the tools IFT provides
FREE Virtual Tradeshow FREE Trend Tours FREE News Postings FREE Press Conferences FREE Pro “Matchmaking” System Access DISCOUNTED Post-Show Attendee Lists Sponsorship Opportunities Advertising Opportunities
Design your message
The KISS principle Understand your environment
• Time compressed• Visually cluttered• Your competition is right next to you• You need to maximize your staff’s time on qualified
buyers
Design your message
Design Your Message
Design Your Message
What will you do with them once you got them?
The 2nd Critical Success Factor:
Gain COMMITMENTS from your visitors for a desired next action step
What’s a commitment?
Commitments
Commitments are the result of interactions with qualified visitors
Commitments must represent some type of significant progress made toward the sale
Commitments require action on your part Commitments require action on your visitors part
Examples of Commitments
“I’ll contact you by e-mail in 3 days with the answers to your questions. Then we can discuss things further.”
“I’ll send you a sample in the mail. You try it and I’ll call you in 2 weeks to discuss your thoughts”
“We’ll deliver your order in 6 days to Springfield” “I’ll set up a plant tour for you and your boss next
month”
Commitments can always be ended with the phrase …. “OK?”
Commitments are Objectives
As such, they must be SMART objectives
SPECIFICMEASURABLEACTIONABLEREALISTICTIME BOUND
How do you get your visitors to give you commitments
Teach your staff what commitments look like – don’t settle for names/addresses
Actively sift through the attendees to find your qualified buyers
You need to dismiss un-qualified buyers quickly and respectfully
Why shows fail?
1. The staff doesn’t know what to do
2. The exhibitor failed to identify measurable objectives
3. No follow up was done with the leads taken
Active Qualifying
1. “Work” the show• This isn’t a vacation• Business isn’t likely to drop in your lap• Be on your best game
2. Engage visitors in conversation• Don’t attack them• Smile – be polite – use good manners• Move quickly
Active Qualifying
3. Ask open ended questions• What brings you to the show today?• Why did you stop at our booth?
4. Move quickly through the “qualifying gates”5. Gain a commitment or disengage quickly and
move on – allowing them to do the same
The 3 Qualifying Gates
1. “What does the ACME Company do?”2. “What’s your role at ACME?”3. “What are you working on now?”
Once through the gates
Probe for their needs Only after you understand their needs … deliver
your message
Agree to next action steps
Write down the agreement
Critical Success Factor #3
Make FOLLOW-UP easy, and follow up for AS LONG AS IT TAKES to close the sale
• What makes follow up easy for sales people?• How long should you follow up?
Following a lead
“A lead is only a lead if it leads to something”
Which lead would you follow first?• 80% of all trade show leads are never followed up• Detailed information makes follow up easier• Your visitors will be impressed• Don’t make them cover the same ground again
The 3 Critical Success Factors
1. Attract ENOUGH of the RIGHT people to your exhibit
2. Gain COMMITMENTS from your visitors for a desired next action step
3. Make FOLLOW-UP easy, and follow up for AS LONG AS IT TAKES to close the sale
Summary: what we covered
The basic forces at work in every trade show What can we get out of our trade shows How to plan for and control successful outcomes The 3 Critical Success Factors The main reason why trade shows fail
Paradigm Shift
Different skills are needed – even by Sales You can predict success – and expect it You can plan success – and measure it Use all the tools provided by IFT
