Trade Show Sales Training

2,413 views

Published on

1 Comment
5 Likes
Statistics
Notes
No Downloads
Views
Total views
2,413
On SlideShare
0
From Embeds
0
Number of Embeds
10
Actions
Shares
0
Downloads
0
Comments
1
Likes
5
Embeds 0
No embeds

No notes for slide

Trade Show Sales Training

  1. 1. By Cheri Hanstein and Stan Fine PhD
  2. 2. Criteria for Picking Trade Shows <ul><li>With more than 9,000 Trade Shows and public expositions being held each year, choosing the right one can be a daunting task. The difficulty of making those choices is one of the reasons why some companies do not exhibit at all. </li></ul><ul><li>Making the wrong choice can be a costly mistake. Yet there are many sources that can provide the information you need to choose the shows that will be most productive for your company, and yield the greatest return on your exhibit investment. </li></ul>
  3. 3. Trade Show Industry Information <ul><li>The average industrial sales call costs $229.70. </li></ul><ul><li>  </li></ul><ul><li>To close and order, 5.5 sales calls on average are required, bringing the cost to $1,263,35. </li></ul><ul><li>  </li></ul><ul><li>The cost per contact at a Trade Show is approximately $106.70 with an average of 0.8 follow-up calls required to close </li></ul><ul><li>the sale. That results in a savings of $1,053.89 per order. </li></ul><ul><li>  </li></ul><ul><li>Contacting your entire current prospective base for the most part is an impossible task, supported by the following </li></ul><ul><li>statistic: 92% of attendees at regional shows and 84% of attendees at national shows have not been contacted by the </li></ul><ul><li>exhibiting business during the prior year. </li></ul><ul><li>  </li></ul>
  4. 4. Trade Show Industry Information <ul><li>83% of show attendees visiting an exhibit had not seen a salesperson from that company during the </li></ul><ul><li>previous 12 months. </li></ul><ul><li>  </li></ul><ul><li>78% of 1 st time show attendees and 85% of the veterans have buying authority. </li></ul><ul><li>  </li></ul><ul><li>61% plan to buy something exhibited at a show. </li></ul><ul><li>  </li></ul>
  5. 5. Trade Show Industry Information <ul><li>54% of show inquiries do not require a follow up call. </li></ul><ul><li>  </li></ul><ul><li>It costs 70% less to close a trade show lead than a field sales call, </li></ul><ul><li>  </li></ul><ul><li>45% of all sales leads from a show will turn into a sale for someone </li></ul><ul><li>within a year. </li></ul><ul><li>  </li></ul><ul><li>75-90% of the inquiries at a show are never followed up. </li></ul>
  6. 6. To determine if your organization should exhibit in a particular trade show or public show, you have to answer the following two questions: <ul><li>Will the people we want to reach be there? </li></ul><ul><li>Will the show management be an effective </li></ul><ul><li>matchmaker? </li></ul>
  7. 7. The following are the key questions and measurement criteria that are a benchmark for determine trade show participation: <ul><li>1. Who really attend the show in the past? Show brochures generally trumpet the number of attendees at the previous show, but what does the number represent? It is far more important to know who is attending, than how many. </li></ul><ul><li>  </li></ul><ul><li>Ask for the attendee profile. The demographic data a show manager provides can help you to evaluate both the audience and the show manager’s research. We will need to see last year’s registration form. Comprehensive data are gathered by computerized registration systems used at many trade shows today. They record each attendee’s company name, size, and location; the individual’s job title, buying authority, purchase intentions, budget, and timeframe. </li></ul><ul><li>  </li></ul><ul><li>Look for the facts behind the generalities. “If the brochure says, “We bring in buying teams from the largest companies, we need to ask for examples of the types of companies, and ask for titles of the people who will make up those buying teams. </li></ul><ul><li>  </li></ul><ul><li>Scrutinize Public Shows, too. Although public shows don’t use the computerized registration systems that are common at trade shows, demographic data can still be captured. Most trade show management tend to utilize surveys that allow them to learn attendees’ ages, household income, distance traveled to the show, reason for attending, areas of interest, and purchase intentions. </li></ul>
  8. 8. The following are the key questions and measurement criteria that are a benchmark for determine trade show participation: <ul><li>What do previous exhibitors think of the show? The experience of exhibitors from companies that are similar in size to your company, or in the same industry (if weyou can talk to them), can help us to determine what to expect if you exhibited. The following are additional questions within this area to be asked: </li></ul><ul><li>  </li></ul><ul><li>Ask show management for the names and phone numbers of contacts at such companies. </li></ul><ul><li>  </li></ul><ul><li>Ask previous exhibitors if they saw the kinds of buyers they needed to see. Did they make the sales at the show? Or can they trace subsequent sales to the show? Is the show important in its industry? Is it keeping up with industry developments? Did management work with exhibitors to help them have the best show possible? </li></ul><ul><li>  </li></ul><ul><li>Will management target the audience that is right for your company? Will direct mail and ads be aimed at the people you want to reach? Your organization will need to demand of Trade Show management to tell us what they’re planning to do to promote the event. Several trade show management companies prepare a year in advance by listing trade show publications they will use and their circulation, the number of ads that will run in each, the number of news releases they will send and when, and the number of mailings they will do and to whom. </li></ul><ul><li>  </li></ul><ul><li>What is public show plans? Because many people learn about public shows only from advertising, these plans are key. You will need to know how much radio advertising will be done, on which radio stations, how much TV, how much print. Usually the features addressed in the advertising indicate what type of audience is being targeted. </li></ul>
  9. 9. The following are the key questions and measurement criteria that are a benchmark for determine trade show participation: <ul><li>3. What do previous attendees think of the show? Attendees know better than management if a show is growing or declining. Show management should be willing to provide names and phone numbers of previous Attendees. </li></ul><ul><li>  </li></ul><ul><li>We will call at least 10 past attendees. The key questions we will ask attendees will be : </li></ul><ul><ul><li>How much time did you spend at the show? </li></ul></ul><ul><ul><li>Did you go more than one day? </li></ul></ul><ul><ul><li>Did you urge others to go? </li></ul></ul><ul><ul><li>Did they see the new products they wanted to see? </li></ul></ul><ul><ul><li>As a result of visiting the show did they-or will they- purchase anything? </li></ul></ul><ul><ul><li>What would they liked to see at the show-what was missing? </li></ul></ul>
  10. 10. The following are the key questions and measurement criteria that are a benchmark for determine trade show participation: <ul><li>4. How will management promote this show? Show management should have specific plans for reaching a carefully targeted audience, and should be willing to share those plans with prospective exhibitors. Will direct mail ads be aimed at the people we want to reach? </li></ul>
  11. 11. The following are the key questions and measurement criteria that are a benchmark for determine trade show participation: <ul><li>5. How will management help attendees to find your company? For professional, reputable show management, the overriding concern will be to bring buyer and seller together. We will determine before the show opens if the attendees can pre-register and thus enter the show more quickly. </li></ul><ul><li>  </li></ul><ul><li>You will have to determine if the show guide is sent in advance and is the floor plan east to read and color-coded. At the show we will need to determine if there are electronic terminals that help attendees locate specific products and may even print lists of companies with booth numbers. In addition we need to be assured of non conflict between seminars and the exhibit hours </li></ul><ul><li>  </li></ul><ul><li>Before the show opens . Your company will need to attempt to find out if attendees can pre-register and thus enter the show more quickly. Other points are will the show guide be sent in advance? Is the floor plan easy to read? Is it color-coded? </li></ul><ul><li>  </li></ul><ul><li>At the show . You will need to look for electronic terminals that help attendees locate specific products, and may even print out lists of companies with booth numbers. Another consideration is does the schedule give people time to attend the seminars and still see the exhibits? Is parking accessible? </li></ul><ul><li>  </li></ul><ul><li>Is the show close to mass transit? Inside the show, how is the foodservice? Is there something to entertain the kids? The more comfortable people are, the longer they stay </li></ul>
  12. 12. Booth Behavior <ul><li>Dress comfortable with your prospect’s style in mind </li></ul><ul><li>Stand tall with head straight and shoulders back. </li></ul><ul><li>Establish eye contact immediately </li></ul><ul><li>Smile but don’t overdue it or fake it. </li></ul><ul><li>Shake hands firmly. </li></ul>
  13. 13. Tips for Personal Success <ul><li>Wear comfortable shoes </li></ul><ul><li>Get to the booth early and be prepared </li></ul><ul><li>Invite your best customers to visit the booth </li></ul><ul><li>If you wear a jacket leave it open </li></ul><ul><li>Never tear down before the show is over </li></ul><ul><li>Be careful not to offend </li></ul><ul><li>How’s your breath? </li></ul>
  14. 14. Do’s and Don’ts of Trade Show Effectiveness <ul><li>Avoid sitting it makes you look lazy. </li></ul><ul><li>Don’t eat drink, or smoke in the booth or use a cell telephone </li></ul><ul><li>Leaning is a sign of boredom </li></ul><ul><li>Visiting with your fellow staffers discourages attendee interaction. </li></ul><ul><li>Wear your name tag on the right side. </li></ul><ul><li>Don’t handout or give away anything without getting something in return. </li></ul>
  15. 15. Trade Show Practices <ul><li>It’s the only time your customers actually comes to see us </li></ul>
  16. 16. Psychology 101 how to read the show attendee - EGO <ul><li>Your clues:   </li></ul><ul><li>  </li></ul><ul><li>The person will talk about what a great job he or she does for the company </li></ul><ul><li>  </li></ul><ul><li>They stress their value to superiors, subordinates and peers </li></ul><ul><li>  </li></ul><ul><li>They talk about their past, present and anticipated future worth </li></ul><ul><li>  </li></ul><ul><li>They have a lot of pride in their self-worth </li></ul>
  17. 17. Psychology 101 - EGO <ul><li>Selling Points </li></ul><ul><li>  </li></ul><ul><li>Let them talk </li></ul><ul><li>  </li></ul><ul><li>Don’t interrupt </li></ul><ul><li>  </li></ul><ul><li>Compliment them with sincerity on their achievements or value to their company </li></ul><ul><li>  </li></ul><ul><li>NEVER BRAG about your own achievements or how successful you are (lose the battle win the war) this will deflate their ego and they won’t want to listen   </li></ul><ul><li>Always demonstrate how your product or service will support their on-going success </li></ul><ul><li>  </li></ul>
  18. 18. Psychology 101 - POWER <ul><li>Your clues: </li></ul><ul><li>People desiring power need to be in control  </li></ul><ul><li>This person’s desk is usually set higher or apart from visitors’ chairs. </li></ul><ul><li>He or she may tell you what to do and how to do it  </li></ul><ul><li>They become frustrated angry and impatient if things are not done in a certain way </li></ul><ul><li>They have major ego needs and may yell or raise their voice to show you “who’s in charge” </li></ul>
  19. 19. Psychology 101 - POWER <ul><li>Selling Points    </li></ul><ul><li>Don’t be afraid or intimidated  </li></ul><ul><li>Use your power to direct your actions  </li></ul><ul><li>Never invade their space  </li></ul><ul><li>Do not attempt to get behind their desk </li></ul><ul><li>Sit exactly where they request  </li></ul><ul><li>Position yourself as a professional who “serves the needs of decision makers”  </li></ul><ul><li>Use Power phrases: “This product can be used in the areas that you think need it most” or “you set the ground rules for action” I’m here to be sure it happens” </li></ul>
  20. 20. Psychology 101 – PROFIT AND GREED <ul><li>Your clues: </li></ul><ul><li>The person will ask questions such as “How will this help me make money </li></ul><ul><li>  </li></ul><ul><li>They will usually ask that question right up front </li></ul><ul><li>  </li></ul><ul><li>Profit and Greed is a strong emotional need based on: performance for shareholders, reorganizational pressures, demands for increased market share. </li></ul>
  21. 21. Psychology 101 – PROFIT AND GREED <ul><li>Selling Points   </li></ul><ul><li>Immediately demonstrate statistical success by those who use your products </li></ul><ul><li>  </li></ul><ul><li>Use phrases such as: “increased sales by 30%, reduced waste by 43%, saved $1 million by. </li></ul><ul><li>Don’t tell these people how happy your customers are to that you are the “leader in your market. THEY DON’T CARE! And it will turn them off. </li></ul><ul><li>Show them bottom-line results </li></ul><ul><li>Be ready with testimonial letters that highlight financial benefits  </li></ul>
  22. 22. Psychology 101 – SURVIVAL <ul><li>Your clues:    </li></ul><ul><li>These people often talk about the difficult climate within the organization </li></ul><ul><li>  </li></ul><ul><li>They often say “money is tight” </li></ul><ul><li>  </li></ul><ul><li>They are indecisive </li></ul><ul><li>  </li></ul><ul><li>Their body language is tenses – usually leaning forward and talking at a fast pace </li></ul><ul><li>  </li></ul><ul><li>They appear anxious and fidgety </li></ul><ul><li>  </li></ul><ul><li>They are not risk takers and are nervous about making a wrong decision </li></ul><ul><li>  </li></ul><ul><li>They are not in an innovative mind-set </li></ul>
  23. 23. Psychology 101 – SURVIVAL <ul><li>Selling Points </li></ul><ul><li>  </li></ul><ul><li>Offer reinforcement that others in their position have valued, used and been helped by your service </li></ul><ul><li>  </li></ul><ul><li>Don’t tell them your product is new or “leading edge” that will push you out the door </li></ul><ul><li>  </li></ul><ul><li>Show (tell) them how your product has been successful time and time again </li></ul><ul><li>  </li></ul><ul><li>Reassure them that you and your product are proven and reliable </li></ul>
  24. 24. Psychology 101 – NEED TO WIN <ul><li>Your clues   </li></ul><ul><li>This person is competitive and usually aggressive </li></ul><ul><li>  </li></ul><ul><li>Theses high energy people are risk taker and use the “ready, fire, aim” method of making a decision </li></ul><ul><li>  </li></ul><ul><li>As “Leaders of the pack” they want success badly </li></ul><ul><li>  </li></ul><ul><li>They are usually very impatient </li></ul>
  25. 25. Psychology 101 – NEED TO WIN <ul><li>Selling Points </li></ul><ul><li>Make sure that what you are selling has some competitive benefits to offer </li></ul><ul><li>  </li></ul><ul><li>If allowed by management, quickly highlight three or four top organizations that use your product </li></ul><ul><li>Be sure to point out new or innovative features that will give the customer “leading- edge” opportunities </li></ul><ul><li>Tell them how this person can get to the finish line faster and if possible be a start in their industry </li></ul>
  26. 26. Psychology 101 – STATUS <ul><li>Your clues:   </li></ul><ul><li>Titles are important to these people  </li></ul><ul><li>They need to know that their supervisors value their contributions  </li></ul><ul><li>They will work hard to move up the corporate ladder </li></ul><ul><li>  </li></ul><ul><li>You’ll find a lot of workaholics in this area </li></ul><ul><li>  </li></ul><ul><li>They thrive on recognition and accolades for subordinates too </li></ul><ul><li>  </li></ul><ul><li>When you walk into their office you will see diplomas, awards and recognition letters on the wall or they will tell you about their accomplishments </li></ul>
  27. 27. Psychology 101 – STATUS <ul><li>Selling Points </li></ul><ul><li>  </li></ul><ul><li>You need to assure them that what you sell will first help them and then their organization </li></ul><ul><li>  </li></ul><ul><li>Tell them stories about people that used your product and it helped their career to shine </li></ul><ul><li>  </li></ul><ul><li>Describing for them how someone’s boss was impressed with the results will fall on receptive ears </li></ul>
  28. 28. Psychology 101 – Self-Improvement <ul><li>Your clues   </li></ul><ul><li>These people want to do whatever they can to increase their knowledge and effectiveness </li></ul><ul><li>  </li></ul><ul><li>You may see lots of seminar completion certificates on their walls </li></ul><ul><li>  </li></ul><ul><li>You may see several self improvement video courses and books on their shelves </li></ul>
  29. 29. Psychology 101 – Self-Improvement <ul><li>Selling Points   </li></ul><ul><li>Find the proper time during your sales call to comment on what you see in their office </li></ul><ul><li>  They are proud of their initiatives and want you to notice it  </li></ul><ul><li>Be sincere. Ask them about a particular book or course that you see, and what appealed to them  </li></ul><ul><li>Describe how your product or service can add to their foundation of knowledge, help increase their productivity   </li></ul>
  30. 30. The 5-step process <ul><li>Engage 30 seconds </li></ul><ul><li>Discover 2 minutes (anything and everything) </li></ul><ul><li>Educate 6 to 10 minutes </li></ul><ul><li>Summarize 1 minute </li></ul><ul><li>Conclude 1 minute </li></ul>
  31. 31. Engage <ul><li>5 words to avoid : “ Hi how are you today? </li></ul><ul><li>Use: “ Hi how can I help you? </li></ul>
  32. 32. Disengage <ul><li>Get them talking </li></ul>
  33. 33. Tips for engaging prospects in conversation at the show <ul><li>Start a conversation </li></ul><ul><li>Based on something they are holding </li></ul><ul><li>By handing them something from a promotion or mailer. </li></ul><ul><li>By using their name </li></ul><ul><li>By referencing an anecdote about the city they are from. </li></ul><ul><li>By being direct (introduce yourself and your offer </li></ul><ul><li>By asking the show attendee a qualifying question </li></ul><ul><li>By inviting them to participate in a “demo” </li></ul><ul><li>By inviting them to view a visual presentation. </li></ul><ul><li>By inviting them to a hospitality event your is sponsoring (pre or post show) </li></ul><ul><li>Based on the attendee’s non verbal communication signals </li></ul><ul><li>(PICK ANY 2 TO GET YOURSELF COMFORTABLE ON TH EFLOOR) </li></ul>
  34. 34. Discover (2 minutes) <ul><li>Often referred to as “qualifying” this is your time to discover specific information about a visitor’s interest, needs and want. The three critical steps here involve: </li></ul><ul><li>Ask questions that activiate the information exchange </li></ul><ul><li>Remember needs , wants, background and current practices. </li></ul><ul><li>Listen clients are experts at knowing if they are being sold. This is your time to listen. </li></ul>
  35. 35. Educate <ul><li>Most exhibitors don’t sell in their exhibit space. Rather, they are looking for an information exchange. There are three key elements to the education step: </li></ul><ul><li>Present one or two benefits and exchange information. </li></ul><ul><li>Prove your products and the benefits of using them. </li></ul><ul><li>Don’t make claims rather furnish evidence of benefits. </li></ul>
  36. 36. Summarize (1 Minute) <ul><li>By this point a lot of information ha sflowed (both verbal and non-verbal). It is important that you return to “leading” the dialogue. Once you have, concentrate on three action items: </li></ul><ul><li>Refocus the conversation on solving the client’s needs. </li></ul><ul><li>Restate the facts, in a clear and organized manner. </li></ul><ul><li>Recommend ways you and your firm can be a resource. </li></ul>
  37. 37. Conclude (1 Minute) <ul><li>It’s time to make a commitment, to take the next step in the process. You can accomplish this by doing three things: </li></ul><ul><li>Ask and obtain permission to take action on their behalf. </li></ul><ul><li>Give a preview, tell them the next two actions you will take them. </li></ul><ul><li>Praise or say (thank them for stopping to share feedback with you and your company. </li></ul>
  38. 38. Lead Management <ul><li>Don’t Follow UP Follow through” </li></ul><ul><li>Average lead fulfillment time = 58 days </li></ul><ul><li>Average cost of a literature pack = $5.53 each </li></ul><ul><li>Average number of “never followed up with anything” lead is = 22% </li></ul><ul><li>Average number of sales reps that make 1 follow up call is 13% </li></ul><ul><li>Average number of sales reps that make 2 follow up calls is 3% </li></ul><ul><li>Average sales follow up time is 89 days </li></ul><ul><li>The number of sales that are initiated by the buyer is 70% </li></ul>

×