Trade Shows - Are They Worth the Investment?
(Part Two)
By John Gumas
Trade shows are a great way to gain a comprehensive understanding of your industry in a weekend. But do they make sense in terms of the staff and budget needed for a larger presence?
Last month, we looked at preparation for trade shows, a crucial aspect of making the most of your commitment. Here are more ways to maximize your experience:
1. Get your staff on the same page
Before the show begins, train each person who will staff your booth. Be sure that everyone knows your objectives, policies and sales procedures. And make sure that they all understand your product line and how best to sell those products in a fast-paced trade show environment.
Remember, selling at a trade show is very different than selling in a retail or direct environment. At a trade show, you typically have just a few seconds to attract the interest of a busy attendee. Time is limited. Don't be so anxious to close a sale at the show that you cause the prospect to sense your anxiety and back away. It's okay to set up the sale for the future as long as you conclude the trade show contact with an appropriate action plan in place. And let the prospect be an active participant in the development of that action plan.
2. Draw potential customers into your booth
You typically have about three seconds to grab prospects' attention as they walk past your trade show booth. So, how do you get them to stop and listen?
Be strategically creative. We don't recommend giving away promotional items unless the prospects do something to earn them. Invite prospects into your booth for a presentation or product demo. As an incentive, offer them something as a reward. T-shirts with your logo and/or sales message are popular, and offer good promotional exposure as well. Then, collect each prospect's name, address, e-mail address and other vital information for subsequent follow-up.
3. Organize your notes
You can't possibly remember every conversation with every prospective customer, so take notes on the prospect's business card or whatever other contact form you've developed. Rank each contact as to the likelihood and readiness to buy. A letter or number code works well for this purpose. For example, A = "very hot prospect," B = "a good prospect," etc. Include any additional follow-up information. Make sure that everyone who staffs your booth uses the same code.
4. Post-show follow-up
Once the trade show is over, the real marketing activity should begin. Have a plan in place to follow up with all contacts immediately. Organize your notes, which should indicate each person's apparent level of interest at the time you spoke with them, from hot to cool. Concentrate your follow-up efforts on the hottest prospects first, but be sure to follow up with every prospect, no matter how routine it may seem. Branding impressions are formed incrementally over time, through every contact a prospect or customer has with your company. Trade show contacts are no exception. Therefore, failure to follow up as promised can create a devastating impression.
Some statistics on the average trade show attendee:
- 95% asked for literature to be sent- 95% saw and spoke to a current supplier
- 94% compared similar products
- 77% found at least one supplier
- 76% asked for a price/quote
- 51% requested a sales rep call
- 26% signed a purchase order
Trade shows are a great way to build awareness and generate sales. But as with all marketing activity, the better you plan and integrate your trade show strategy into your overall marketing plan, the better results you can expect.
Consider your trade show efforts as a complete marketing package with before, during and after strategies, and watch your return on investment dramatically increase.
May 2007 Builder Architect Edition Issue