Power Of Tradeshows.Standalone.Show


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Power Of Tradeshows.Standalone.Show

  1. 1. The Power of Tradeshows Tradeshows Work
  2. 2. Tradeshows feed a basic human need Tradeshows can be traced back to European market fairs and Bedouin bazaars
  3. 3. Evolution has brought us to modern tradeshows • Fulfill the basic need to see other people & touch things • Establish closer bond with customers and vendors than over the phone • The medium is all about experiential & visual learning opportunities
  4. 4. Tradeshows = Unique Opportunity The Center for Exhibition Industry Research (CEIR) revealed the following about exhibitions: • 88% of attendees have not been seen by a sales person in the preceding 12 months • Seven out of ten attendees plan to buy one or more products • 76% asked for quotes and 26% signed purchase orders (average all shows) • 72% of show visitors say the show influenced their buying decision • 87% of attendees will share some of the information obtained at an exhibition • 64% of attendees tell at least 6 other people about the event
  5. 5. How much does it cost to make initial face-to- face contact with a potential customer? With a Tradeshow Lead Without an Tradeshow Lead $215 $1039 This includes: This includes: Exhibit construction, storages, The $596 cost of contacting the prospect in transportation, exhibit space, the field and the $443 to identify the salesperson salary, travel, and prospect prior to the first sales call entertainment According to CEIR Survey SM37 – The Cost Effectiveness of Exhibition Participation: Part 1
  6. 6. Not exactly peanuts •1.2 million conferences, seminars, corporate meetings, trade shows and conventions •US meetings industry is a $96 billion annual business •100 million people attend more than 1.2 million conferences, seminars, corporate meetings, trade shows and conventions •Out of that $96 billion - the exhibit services component is 14 percent, or $13.44billion
  7. 7. Reasons to Exhibit – Not Just to Sell 1. Accelerate your product to new markets Top 15 Reasons: 2. Get qualified leads for follow-up 3. Attract meetings and editorial coverage with trade editors 4. Introduce your company to financial analysts 5. Augment and strengthen your distribution chain 6. Coordinate post-show off-site visits with your prospects 7. Hands-on demonstration of new products and features of old products 8. Perform competitive analysis and market research 9. Identify new product applications 10.Introduce your product into foreign markets 11.Meet potential customers for new applications 12.Network with customers not normally called upon 13.Qualify buyers and prospects 14.Reflect an image of growth and stability 15.Reposition your company in a market
  8. 8. Integrated Marketing • In a world of media proliferation, integrated marketing communications is the key to success. • Business buying is based on relationships as much as it is on specifications and product requirements. Even when we are buying on behalf of our companies, we are social animals, and we are compelled to look the seller in the eye before signing a big contract. • To stay competitive, we must get clearer, focus more tightly on our business objectives, and eliminate any wasted effort. Ruth P. Stevens, author of Trade Show and Event Marketing, and professor at Columbia Business School
  9. 9. - Continued • Plan your calendar with great care. View the event as the tip of a much larger iceberg. The event itself is only a small part of a longer, end-to-end marketing campaign. • Develop pre-show marketing campaigns and meetings with your target audiences in advance. • Staff your booth and hospitality events with the right team, and give them objectives, briefings, and training in advance. • Ensure that each conversation results in effective follow-up, whether it’s further qualification, or collateral material, or a sales call. This is where the revenue finally begins to happen
  10. 10. How to select tradeshows - Depending upon budget: • Attend for a year before committing to exhibit • Prior company history • Talk to peers • Trade publications
  11. 11. Internet Searches Organizers’ websites
  12. 12. Conference & Tradeshow Prospectus - Demographics
  13. 13. Space Pricing & Promotional Opportunities from Organizers
  14. 14. Keynotes & Presentations Increase the credibility of your company by having CEO, Senior Managers, and Industry Experts address the conference with a Keynote or as a Session Leader
  15. 15. Booth Space & Exhibit Design Studies which are contradictory and inconclusive by their conclusions indicate you can still be successful no matter your location in the hall IAEM Guidelines - Allow you to use an exhibit in various shows and venues General rules: •Inline Booths – 8’ high along back – dropping down to 4’ high; ½ the distance to the aisle •Peninsula – usually 12’ with sides of back wall dropping down to inline heights •Island – cubic content up to around 24’ •Hanging signs – some shows don’t allow •Double Decks – engineering certification •Earthquake certification in SFO for any structure over 12’ •Las Vegas and Chicago – more stringent rules on sprinkler systems and halogen lights
  16. 16. Table Top Exhibits •Still possible to stand out from the crowd •Consider using a table skirt with logo
  17. 17. Inline Exhibits
  18. 18. Island Exhibits Island exhibits provide greater opportunities to expand your brand with additional multimedia as in the large LED screen and individual division plasma screens.
  19. 19. You can also incorporate live theater and live talent and draw attention with theatrical lighting
  20. 20. Semi-private and private hospitality areas increase time spent in the booth by customers
  21. 21. Large scale graphics
  22. 22. Design Trends • Fabric • Aluminum • Modular Driven by desire for lower weight - producing savings in freight, labor, and drayage and advances in dye-sub fabrics
  23. 23. Green • Frame Components: 100% recyclable extruded aluminum • Panels: Recycled and recyclable PVC foam board • Lighting: Low voltage LED lighting • Graphics: Eco Solvent printing for maximum durability and reduced environmental impact • Lightweight exhibit components reduce shipping and drayage costs
  24. 24. Pre – show Marketing • Average attendee will visit 31 exhibitors • 76% of attendees arrive with an agenda of exhibitors they plan to visit • 3 out of 4 visits are preplanned – grab them before they reach the show floor • Less than 20% of exhibitors utilized pre-show marketing campaigns • Invest 15% or more of your total show budget toward pre-show marketing. • Identify who you want to visit your exhibit and build target visitor lists. • Give attendees a compelling reason to visit your exhibit . • Use a combination of media to execute an integrated pre-show marketing campaign.
  25. 25. • Email Blasts – may drive prospects to: • Dedicated website pages • Direct Mail • Surveys • Telemarketing Email blast • Promotions to be redeemed at the exhibit • Free registration • Display advertising All the electronic methods allow for surveying – to pre-qualify & develop current contact info for CRM & post show follow-up Dedicated tradeshow website page
  26. 26. Costly expense Or Sound Investment ? How would you know?
  27. 27. Post Show – Follow-up & Measurement Nearly ½ of all exhibitors do not have a method to establish a value to their tradeshow/event participation Measure the Success of your Business Objectives: • Communicate a leadership image of the organization • Increase awareness • Attract __?__ qualified attendees to the booth • Attract _?_ customers and a ?%-?% response to the pre mailer • Attract _?_ meetings with trade editors and _?_ post-show editorial comments • Meet with __?__ financial analysts during the event
  28. 28. Objectives Drive the Metrics By Ruth Stevens, Author of Trade Show and Event Marketing
  29. 29. Metrics Costs and Results Metrics from a Hypothetical Manufacturer’s Tradeshow Program Metrics Costs and Results Tradeshow costs, fully loaded $500,000 Qualified leads generated 200 Costs per lead ($500k / 200) $2,500 Leads to sales conversion rate 40% Leads converting to sales (200 x .40) 80 Average order size (or average incremental revenue) $100,000 Cost per sale ($2,500 x .40 or $500k / 80) $6,250 Sales revenue (80 x $100k) $8 million Gross margin rate 45% Gross margin on the tradeshow revenue ($8 million x .45) $3.6 million E:R ($ 500k / $ 8 million) 6.25% ROI (($3.6 million - $500k) / $ 500k) 620% By Ruth Stevens, Author of Trade Show and Event Marketing
  30. 30. Follow - up • It is estimated that fewer than 46% of all trade show leads are actually followed up by sales and marketing efforts • Stand out from the pack – FOLLOW – UP
  31. 31. ROI + ROO = Success !! By following a few key rules regarding show selection, pre-show marketing, exhibit design, and post-show follow-up , your measurement on both return and objectives are sure to be successful.