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By Jeff Kear
January through March is prime time for trade shows nationwide, which means decision time for companies considering how much to budget for trade shows. In our opinion, using revenue potential as the basis of whether or not to attend trade shows is the right place to start. (I know this sounds like a no-brainer, but we're often surprised at how many companies attend or exhibit at the same trade shows every year without once assessing whether these shows actually provide a return on investment.)
As for basic statistics on trade shows, the Center for Exhibition Industry Research has released a study revealing the benefits of trade show marketing. The findings show:
* The average cost to close a sale from a trade show is $705 vs. $1,140 for closing leads from other sources.
* The average cost of reaching a visitor at a trade show is $212 vs. $308 for a field visit
* 71% of trade show attendees have authorization or purchasing power, and 70% hold professional/managerial positions
In my opinion, the trade show holds a unique place in marketing in that it involves a combination of marketing and sales tactics as well as event planning. With that said, here is a list of basic questions you should ask yourself when considering trade show marketing:
What shows would be beneficial to attend?
To know this, you need to find out who attends and exhibits at the trade shows where you suspect your target customer(s) are. First, look at which associations in your industry are affiliated with or sponsor shows, then look beyond your industry and see if there are other shows where your target customer(s) may be in attendance. Then contact the organizers of those shows and ask for:
* The demographic profiles of their attendees (including if attendees are decision makers)
* The number of attendees and exhibitors
* Which companies have already booked booths
* Costs for attending and exhibiting as well as exhibitor information
* Any statistics compiled on past shows
Also, ask if they provide the list of attendees to all exhibitors before the show opens (so you can mail to this list two weeks before the show opens).
To search a list of national shows, visit these sites:
* http://www.tradeshowweek.com/
* http://www.tsnn.com/
Should I have a booth or just be an attendee?
This starts with setting your revenue goals for the show. Exhibiting certainly gives you a greater presence, but it also comes with a bigger price tag. First, determine how many leads you need to acquire to bring in enough revenues to offset the cost of exhibiting at the show. If this number of leads is impractically high based on the show attendance, the length of the show, your product class/category and your close rate, then being an attendee might provide a better return. However, if the number of leads is within reach, then exhibiting can be a wise choice.
What should be the focus of my trade show marketing?
A better way to phrase this question is "What message or product/service thrust will enable you to gain the most traction in the marketplace or will enable you to generate the most revenue?" Such messages or thrusts may be:
* Announcing a new product/service or new line
* Announcing recent awards or recognitions (best in class, best selling, etc.)
* Reinforcing the differentiating factors of your products
* Delivering new or useful information that your target audience will value
Once you have decided on a direction or theme, make sure it is reinforced in the booth design as well as in all collateral and promotional items distributed at the show. In addition, if you are making a big announcement, remember to contact the local media to gain more exposure.
How do I get people to stop by my booth?
There are quite a few things here to keep in mind, including:
* Send a mailer to the attendee list about two weeks before the show opens. The creative should be consistent with the message/theme of the booth and should promise them a reward if they stop by the booth. And don't forget to provide a directional map of where your booth will be located at the show.
* Make sure you have a booth near the front of the exhibit hall and to the right (Americans tend to look to their right upon entering a room). To do this, make sure you register early to get a premium space (it may also cost a little bit more, but the cost will most likely be offset by the increased traffic). Another alternative is to position your booth near the restrooms or food vendors (both of which attract traffic).
* Create a theme for your booth that distinguishes it from all the other booths. For example, an exhibit I once saw for Stanley tools was constructed like a hardware store with featured tools hanging on brightly branded Stanley racks. The booth directly related to the product and was definitely different from the standard modular booths surrounding it.
* Create promotional items and collateral that relate to your message/theme and will stick out among all the other schwag at the show (and only give them away to people who come into your booth and speak with you; don't just have them at a table where people can pass by and pick one up).
* Offer a giveaway that relates to your product. Unless you manufacture golf clubs, don't give away a golf club. Instead, tie your giveaway to your product so that the recipient has a chance to experience your product/service and become attached to it.
* Provide mini-seminars or conduct product demonstrations in the booth and post times when these events will be held. Attendees are attracted to useful information as well as gatherings and will be curious as to what is being discussed in your booth.
* Advertise or provide editorial content in the show program.
* Encroach into the aisle with standing displays. I know that any show organizer will cry "FOUL" at this suggestion, but anything that sticks out in the aisle will help you pull people into your booth. My theory here is that, unless there are monetary penalties involved, act now and apologize later.
How should I prepare my booth?
The booth design itself should be clean, easy-to-read and relate to the overall message/theme. On average you have under 5 seconds to catch a passerby's attention, so the creative should function like a billboard, with a dominant image and very little text.
As for booth layout and staff, here are a few things to keep in mind:
* Remove any physical barriers from the booth entrance; this can increase traffic by as much as 25%.
* Prepare a script for your booth staff that relates to the audience at the show and their potential needs.
* When it comes to attire, treat the situation as you would a sales call and have your booth staff dress one level better than the attendees.
* Don't provide food in the booth, and don't chew gum.
How should I keep track of leads?
Certainly ask for a business card from everyone you meet, but also pre-print contact forms that your booth staff can quickly complete. These forms should contain blanks for contact info as well as for customer challenges/pain and should allow you to rank each customer in terms of need. I typically like to create five categories of prospects:
* Immediate need (next 3 months)
* Near future need (4-12 months)
* Distant need (beyond 12 months)
* Referral partner (no current need but can refer me business)
* No need
Your categories may be different based on your sales process and sales cycle, but such a system can help you identify how you should follow up after the show.
Finally, how should I follow up with leads?
Again, this can depend on your sales process and sales cycle, but I would definitely start by calling anyone with a need - people with immediate needs being the first ones contacted and distant leads coming last. I would also send out a letter to all people who were greeted in the booth thanking them for their time, and I would include all people on the general marketing list to which you periodically send mailers and promotional e-mails or e-newsletters.
Follow these tips and you're off to a good start in planning your trade show marketing.About the Author
Jeff Kear is a principal at Kear|Stevens, an integrated marketing communications firm in Denver, CO. During his career in marketing and advertising, Jeff has created revenue-generating marketing communications for nationally recognized brands such as Budget, MetLife, Moosehead Beer, Qwest and Toyota. Before his work at Kear|Stevens, Jeff served as a senior-level creative at a few well-respected Denver ad agencies as well as a marketing and communications specialist for a Fortune 500 company.
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