Trade Show Leads Strategy: Catch and Don’t Release!

I read somewhere last year a piece called “Where Good Leads Go To Die” or something along those lines (sorry I can’t attribute it but it left an impression on me).

I will say it once and I’ll say it every time – you must ensure you manage the contacts and leads you generate from your trade show activity; more business is lost as a consequence of sloppy follow up after the show than is generated during the event itself.

It goes beyond making simple follow up calls and visits too; you must put in place a good system to collect the prospect information and also impose a scoring or ranking system so you grade the quality of the prospect information you have gathered.

Customer A has met you at the show and but wants nothing from you though they tell you they have a project commencing within 6 months.

Customer B meets you at the show, has a project commencing in 18 months time and has downloaded your web based marketing collateral and asked for a meeting a week after the show.

What do you do?

A needs to be engaged as a priority because they have business taking place within 6 months – so they haven’t asked for any information – who cares! This is what your sales and pre-sales people are for and they need to be brought to bear on the account urgently.

B has business but not for 18 months though they are receptive to contact and being engaged. They will have a lower priority than A but you will need to keep that prospect alive until they are ready to commit to doing business with you. A lower priority should be assigned but they still must be contacted and engaged when you say you will or they are going to acquire a poor perception of you from the start.

You will come across Customer Do Nothing Wants Nothing – again, you must engage these prospects if you are to stand any chance of uncovering a need you can sell into, but it is practical and realistic to assign a low or general scoring to such prospects who will earn a sales call as part of your cycle of contacting prospects and trying to make a connection with them which will lead into something productive.

Fundamentally the strategy is to catch information but not to release the prospect unless they really are a waste of time – to find that out you will need to invest some of your own.

Web Based Interactivity: The Chicago Auto Show

The Chicago Auto Show was launched on February 13th and runs to the 22nd but aside from the usual array of glittering automobiles complete with supermodel babes and more glitter than you can shake a stick at there is also something far more fundamental going on – the internet really is making its’ presence felt at this show.

The Chicago Auto Show is offering entry to the show for a mere $10 for a grown-up kid and $5 for a real one but they are also delivering the ability to gain access to the show via the internet. Video webcasting has been introduced along with a range of show webcams so you can get the show experience without having to freeze yourself in the Windy City.

Webcams and web based video technology gives exhibitors the ability to bring a TV studio and crew to cover their activities at the show and extend their reach to a worldwide audience who can enjoy the performance whenever they feel like it; in real-time as it happens or stored for future viewing when more convenient.

Using trade shows has always been about making business and customer connections using your physical presence and the power of face-to-face communication; now the internet is empowering exhibitors with the ability to really extend that reach beyond the trade show venue.

So far we have not tried our own webcasting technology at a live show but we already do provide product training and demonstrations through our web site and as part of our training and marketing strategies. The logistics do not seem difficult just how to manage the webcast so it is meaningful and receives the attention you want it to get.

It’s good to see the Chicago Auto Show taking a lead in this because it gives smaller operators a chance to learn from their experience and this is definitely the way the future of trade shows is going to go : virtual trade show displays.

Wall Street Gloom

Frankly I am sick and tired of hearing all of the doom and gloom that is being parroted all over the media and all over the place; the economy is in a bad state at the moment BUT we all seem to be forgetting a few things.

Our economy is the strongest in the world – not one of the strongest but THE strongest; as a British friend of mine says, “When America sneezes the rest of the world catches a cold!”

There is plenty of business still going on and in large part, the reason why the US economy is so strong is simply because of the very large and industrious small business base we have here in America.  America is the land of free enterprise and opportunity and unlike elsewhere, a man (or woman) can make their own luck!

It’s a constant wonder to me that some come up to me and tell me how “lucky” I am; it is a wonder because I discovered a long time ago that the harder I work the luckier I get!

This is what I’m doing; and I did this in the last recession and the one before that; I’m sticking to what I know works – I know trade shows work and I always make good money and create new business opportunities but I have to play it right.

I do not go overboard and fall for trade show and exhibition management hype – I talk to businesses who have attended at shows before if it is a new one to me.

I do not look at attending a brand new event – if it is a new event it is untried, untested and uninteresting to me.

I improve my marketing and sales efforts; if anything I will increase my dollar spend on these activities in order to extract as much business as I am able to do – now is a time when my competition is struggling and they are cutting back on customer contact and service precisely because they have cut their spend; this leaves their market share vulnerable and I aim to take it from them.  Big company clients are especially vulnerable and I am more likely to get business out of them now than at any other time.

I’m planning for recovery – that other “R” word which people keep forgetting about.  Recessions are bad news but not for everybody – Carnegie built an entire steel empire and conglomerate on the basis of steel he bought during recession and then sold on to railroad builders at massive profits when the recovery followed; I’m not Carnegie but I apply his principles, buy low and sell high and now is a time when I will be able to buy new business cheaply.

Weathering the Harsh Economic Climate

We are in recession and there can be no denying it but what do you do when you are confronted with the cost of maintaining your exhibition schedule?

For a start, if you decide to cut back on your event schedule and cut dates from your calendar you are going to find you are being asked all kinds of questions from customers and potential customers who have become used to seeing you at an event.  Certainly if I was expecting to see a company and they weren’t there, I’d start asking myself if business was suffering from them and the inevitable question is going to arise; are they going to be in business next year?

Customers are not the only people you have to worry about; event managers will not be so quick to reinstate your seniority if you cut them from your schedule and the spot you and others have come to accept as yours may no longer be available if you later decide to put the event back into your trade show calendar.

Before you look at cutting shows or reducing your presence at an event think about the alternatives that will allow you to maintain your marketing effort.

Taking on an event partner to shoulder some of the cost of exhibiting is an obvious idea and this produces many synergies when it comes to attracting new prospects and customers if you play this right.

Think about renting your exhibition assets and trade show display instead of buying them; you can rent or lease customized displays which will not require such a huge capital investment and this makes great economic sense and will relieve both your cash flow and bank manager.

Just as you are supplying goods and services, you in turn will be relying on your own suppliers to allow you to deliver what your customers are looking for.  I always give my suppliers a call to see what they will put into the budget when I am on the road and this is a win-win situation for everyone as if you create sales you are going to be placing your own orders with your suppliers, so everyone is making money down the line and it pays suppliers to support your sales efforts.

Really think things through before you cut your trade show calendar or exposure; there are alternatives and what you cut back on now may not be recoverabledown the road when the good times roll again.

Trade Show Demographics

Newcomers to trade show exhibiting are frequently overwhelmed with getting their trade show display arranged, finding an event and getting the logistcs and pre-event preparation complete so they can stand on the booth and grab some orders.

Like anything else in life; if only it was that simple 😉

When you come to choose an event to exhibit at one of the issues you should be asking about are the trade show demographics for past events.  these will give you information on more than simple numbers of attendees but also the breakdown in terms of who the attendees represent, whether they are considering buying and how much and what as well as a host of other information which will help you assess the value of exhibiting at the event for your business.

Using trade show demographics is not an exact science and a different base may be used to calculate the data plus you may need to treat the information with a pinch of salt depending on who has produced the information.  Remember event management are trying to sell you space so they can make themselves a bonus and meet sales targets just as you are trying to do.

Using the trade show demographics to see how closely an event matches your own target customer audience is going to help you become more effective but don’t think in a linear fashion; think outside the box and use demographics to back up your thinking.

Nordic Track achieved brilliant tradeshow success with their cross training Scandinavian ski machine not at fitness tradeshows but at dental tradeshows.  The demographics were on the money for them but they exhibited at events which were completely unrelated to their line of business; it made them stand out in a bunch of people who had the cash and desire for their product and the only competition for them at the tradeshows were a pack of orthdontists!

Tradeshow demographics are something you should always request before you commit to an event and you should take the time to learn what they are trying to tell you.

Minimizing Exhibition Space Costs

There are obvious ways in which you can reduce the cost of renting trade show display space at a trade show; share a booth with a partner or reduce the actual size of the space you are taking.

Thinking of the obvious is OK but there are other ways in which you can cut down on the cost of space but still make an impact.

Ask the tradeshow management if they have any unusual shaped spaces; by the time they have carved up the arena they will have space which they will be finding difficult to sell to exhibitors because they have a traditional, fixed display system or simply it does not fall into their corporate image to have a rhomboid display area instead of regular rectangle.

You can negotiate a deal on such space which the management will be open to deal on.

Another tip is to consider breaking your display presence into smaller satellite booths around the arena; why not consider several smaller displays dotted around the arena as opposed to one larger display.  Again, smaller sizes are sometimes difficult for the organizers to shift and you can clean up with a deal on several.

Pay close attention to the layout of the arena; you are paying for space but just as with a physical street location, some spots are going to be prime and others not.  Look for space close to refreshment stands, a major corporate who is not a competitor (and piggy back on their marketing and attendee attraction) and close to the entrances and exits are also good spots to grab if you can.

When you come to select your display design and layout, consider the flexibility of the design so you can adapt and change the display to suit different venue space and this will help you to take advantage of whatever tradeshow arena space is available.

Choosing a Trade Show to Exhibit At

Here are three off-the-wall tips for selecting a trade show to attend and exhibit at:

Tip #1

Ignore Trade Show Hype

Do you honestly think trade show management are going to say anything other than “Exhibit at our show and you will make a stack of sales, a ton of money and earn a big bonus!”; come on guys wake up!

Trade show management are going to market their event to the hilt because they have their own business targets to meet and guess what, they’re looking to get your autograph on one of your checks!

Talk to exhibitors who have attended the event previously to see what they have to say about the trade show; you’ll get a better view of the quality by this route.

Tip #2

Choose to attend an offbeat trade show event

First of all, learn what the demographics are for a show or event; the demographics are more important than the headlining theme of the event.  A good example is Nordic Track, the multi-function personal Scandinavian exercise machine but guess where they enjoyed tremendous success?

At fitness shows?

Wrong – they made the best sales and generated the greatest response at dental shows!

Choose an area which shares the same demographics as your own niche and consider exhibiting there; you’ll stand out from the crowd simply because you’ll have no competition.

Tip #3

Ignore New Trade Show Events

New events are untried and untested so you have no idea what you are likely to achieve as a return; more than this there is no realistic way for you to assess what a realistic return should be to begin with so where do you stand in calculating your ROI?

Smaller companies in particular should not be going down this particular path and especially at a time like this; stick to what works and that means the existing events where there is a track record of attendance by punters and exhibitors alike.

Leave the new shows to the big boys with the money to lose and let them test the water for you.

Trade Show Display Tips

When it comes to putting your trade show display together, try to think of display visibility when you are designing it; you are aiming for neatness and clarity without any clutter to detract from enticing and engaging attendees.

Try using a display board to hang your products off at eye level for booth attendees; when you have something visible at eye level it dramatically attracts your attention but customers will also be switched off if you have a messy display so make sure it is well organized and neatly laid out with pricing and information on the products clearly accessible.

Create the impression that your product is in demand; you can do this easily enough by the judicious application of a “Sold” sticker on some of your items but don’t overdo it. One occasion I saw a booth that had an empty space in a product display with a simple card saying “sold out” – whether it was true or not, it certainly gave the impression that the products were in high demand thus fueling desire in attendees.

Use the display sections to create interest but also use the display areas with some imagination in terms of the spatial layout; creating a nook or using a display section as a divider can help create private areas for business discussions or use the illusion of depth and space to increase attendees curiosity and draw them into the booth itself.  Use this in conjunction with your promotional giveaways and literature displays for maximum effect.

However you set your display up, you are trying to engage and attract the attention of exhibition attendees; you want to engage their interest and curiosity and turn this into a productive business conversation so they can be qualified.  Clean lines, neatness and easy to find information on your products and services are essential components of any display design so pay attention to the overall impact your display has and constantly reassess it in the light of your tradeshow experience.

Staffing the Booth

I was in LA last week for the LA Auto Show; I am not a great fan of cars but this was something else  and a great experience.

Wandering past the extravagant trade show display of a leading car manufacturer (who will remain nameless) I was instantly reminded of why such a hoopla has been created over the proposed bail out for the car industry in Washington.

Picture this scene, a real life scene witnessed by yours truly:

Sleek cars and highly priced machinery, at least $30 million worth of car and concept vehicles adorn a huge display area dedicated to a car maker.

I’m enjoying the ambiance and have my bag of freebies which is getting larger by the second while my friend who invited me along is taking photos of me with every dream car you can imagine.

While I’m browsing a booth area where there are refreshments and catering provided on a scale my budget can only dream of, I happen to overhear two men deep in conversation, one obviously an attendee representing a dealer network and the other representing the manufacturer.

I’m intrigued simply because I want to hear how the pro’s do it; all that megamoney budget on exhibitions and tradeshows getting blown, all of that training and salesmanship with state of the art preparation and prospect collation with customer management databases so come on, what has this guy got to teach me.

I’m quiet and eager but trying not to be noticed until during an obvious lull in the discussion the representative turns his head so I can see and he picks his nose, looks at it and wipes it off before resuming his conversation!

I don’t know what happened after that, but for all of the budget that was expended it struck me that it comes to a big fat zilch if the guy you have at the sharp end still has kindergarten manners!

Trade Show Booths – the Optional Extras

Investing in a trade show presence is a significant investment of your time and money; more than this, trade shows provide a great source of revenue so in truth, the real value of your booth and trade show materials is in fact a great deal more than simple cost.

Here we are going to take a look at some of the practicalities of maintaining your investment and ensuring you continue to reap the investment rewards from your marketing budget.

Storage and Transportation of your Booth

A trade show booth, even a small one of 10 by 10, is going to be a significant piece of kit to transport around the country. You need to be able to get the booth and your peripherals to the trade show exhibition on time, have it erected and laid out with the least amount of effort and stress as is possible. Remember, a trade show is a long day and especially if you are a small business looking to test the water with exhibitions and trade shows, you and your staff are likely to be spending very long and tiring days on the booth networking and closing business opportunities.

It makes a great deal of sense for the booth and ancillary materials to be stored and transported to your scheduled trade shows as and when they are needed rather than adopting a do-it-yourself approach. There are not many booth suppliers who offer such storage and transportation services, but for those that do, they provide a very valuable and practical logistical service so pay close attention to suppliers who can provide this very valuable after sales service.

Typically, you should be looking to pay something in the region of $25 per month for storage costs of your booth and no more than $130 checking in fee ( a fee levied when the booth is sent out or received by the storage facility) and be wary of those suppliers who levy their own invoices and shipping charges when it comes to transportation; most use the recognized shipping agents such as UPS and FedEx while a good supplier will only charge you the face value of the shippers costs rather than pad the bill.

Get Smart with Technology

When you are on the floor and networking, how much