TradeShowROI

The Ages Old 80/20 Rule Still Applies

2011-08-16T07:43:00.000-07:00

A new client recently asked to be taken to a "niche" market computer show in Portland, OR where there were some 3,000 attendees and 100 exhibiting companies. We put together a back wall message for their 10x10 corner booth that effectively told their story in "Overview" form and topped it with a header that announced WHAT THEY DO before it told Who They Were. After preparing a few audience/show specific collateral pieces we settled on our single "Open Ended Question" (to be asked of all passing delegates) and were ready to exhibit.

With an opening evening reception and two full days of ongoing exhibits we used a purchased Leads Capturing Device (LCD) to get follow up information on 180 separate delegates/prospects with whom we visited. While these "extra cost" LCD's are often obscenely priced (several hundreds of dollars per show) their ROI is incalculable when you think about that "Perfect Prospect" who was in a hurry, had run out of business cards and assured you he'd call you, that you then “let get away”. And, when offered the option, use the unit that gives you a paper print out (rather than the option of putting a verbal message against a leard), as this allows you to make immediate notes on the more significant visitors.

My client was ecstatic that we personally visited with a full 6% of the entire audience (180 of 3,000) and further excited over the 22% (40 of the 180) whose visits warranted written follow up notes on their print out. Upon further inspection we found that 9 of those 40 (23%) had rated VIP or Special Handling status. Extrapolating these numbers into the follow up phase, were just two of these (again, 22%) converted to clients, given the average size of my client’s contracts, the show is going to generate a significant profit to the company.

So, in short, even (and especially) in the competitive B2B trade show environment, the age old 80/20 rule applies and when worked to its conclusion, can assure you of a most profitable trade show experience. And to keep the best track of ALL your booth visitors, by all means budget in and use Show Management provided Leads Capturing Devices.

Booth Babe or not to Booth Babe

2011-06-04T12:36:00.000-07:00

There's an ongoing LinkedIn discussion on whether to use or not to use "Booth Babes." Needless to say, the answers have been all over the board, including women defending the practice and men decrying it.

I choose to go to the next level and ask "If not them, then what?" The obvious answer is "Open Ended Questions" being asked of EVERY delegate passing your booth. The right question asked of the right delegate (regardless of whether he/she planned to "interact" with you) requires them to SELF IDENTIFY themselves (or their operation) as a prospect. While this puts the burden on the sales force relative to follow up, which would YOU want to "work" - a "fish bowl" business card or a self identified potential client?

This is how you GUARANTEE yourself qualified leads and measurable results from your trade show participation and you can learn more by contacting -HiettIves@ShowDynamics.com or by calling - 832-372-6900.

Everything Old Is New Again

2011-03-16T10:28:00.000-07:00

A recent LinkedIn question asked "What's new in Trade Show Marketing" and my response is "Everything old is new again." It's back to basics time and that means taking the obvious and often difficult step of interacting directly with the delegates at the show.

Regardless of where the show is or what discipline or 'industry vertical it is in, the best way to do this is to ask audience specific, event specific Open Ended Questions of EVERY delegate passing your booth.

"How do YOU use this in YOUR operation?"
"What application do YOU have for this product/service?"
Who's responsible for this product/service in YOUR operation?"

Asked of the right delegates at any display, trade show or expo requires them to SELF QUALIFY themselves (and conversely DISqualify themselves), thereby making YOUR job one of further qualification and/or addressing the specific features and benefits that deal with their particular needs and requirements.

Using Open Ended Questions (must be answered with something other than Yes/No) effectively and consistently at EVERY B2B display event literally guaranteed your identification of qualified delegates. This is true regardless of product or service and/or vertical discipline. The ultimate key to realizing quantifiable ROI is in the follow up. All the best prospects in the world are but that until you close them on their interest or need.

For more information on guaranteed results from your B2B trade show participation, contact Hiett Ives at 832-372-6900 or HiettIves@ShowDynamics.com

What They See Is What They Get

2011-01-12T07:25:00.000-08:00

You're walking down the isle of an Association's Annual Trade Show and see these header over two of the booths "Ani-Mate" and "Orange Research of Texas". Who are they? What do they do? How can they help you? These are questions needing to be answered BEFORE you create your booth header.

At any given trade show, somewhere in the neighborhood of 90%+ of the booth headers prominently (and often solely) feature the exhibitor's NAME - re. The two examples above. "But they have to know my name!!" you say. Really? What's more important, what you HAVE or CAN DO for a prospect or WHO YOU ARE? The answer is obvious, and so too is the solution.

On any header - tell them WHAT YOU DO before you tell them WHO YOU ARE.

In our two examples above, the first became: Automatic Pet Feeders by Ani-Mate. The company name is short for Animal Mate and their product is a round feeder with four lidded and timed compartments that open at pre-set times - thereby allowing you to leave pooch or kitty at home for the weekend. At the Independent Hardware Store Owners show they were a huge success. They had bombed as ANI-MATE elsewhere.

When you see the header Differential Pressure Control Equipment as a delegate at the Instrument Society of America's Expo and you're looking for that, you STOP - as did many - right in the middle of the isle. Would you have stopped for Orange Research of Texas?!?!

So, in a nutshell, tell them What You Do before you tell them Who You Are - it pays off bigger than you'd think. A second header approach coming next time.

B2B Trade Shows - Where Do You Start

2011-01-07T17:03:00.000-08:00

You want to maximize the Return On Investment (ROI) from the Business to Business (B2B) trade show in which you've just confirmed your participation. You know your investment is going to be, on average, around three times the cost of the booth space. So your $1,500 booth is going to cost you around $4,500 when all is said and done. So what do you do NOW to assure yourself an ROI that's going to cover your investment and return a reasonable profit? You next need to look at your version of the 80/20 principal. Specifically, what 20% of your product or service offering yields 80% of your income and profit. Once you've determined this, you build your booth story and your approach to the show's delegates around this/these product(s)/service(s). You want a booth header that says "What We Do" before it says Who You Are, then you come up with an Open Ended Question (OEQ) that's asked of EVERY delegate who passes your booth (and which causes him/her to SELF QUALIFY themselves) and then you develop an effective follow up procedure to close those who have self qualified themselves. That's it in a nutshell, more detail on each element to follow. TradeShowHiett