Making the Most Out of Your Trade Show Investment
While the benefits of participating in trade events are well-documented, trade shows can be an expensive investment. Standing out and delivering a memorable impression on the floor at Expo West, Fancy Foods, or even Outdoor Retailer can seem daunting. And yes, the pressure to deliver on ROI goals – while ever-present – can be elusive at best. As a strategic consulting firm and long-time attendee of these shows, we’ve seen a lot and learned a lot over the years. Through it all, we’ve emerged with a point-of-view on how to get the most out of these investments.
Before we dig in, a little context might be helpful. It’s hard to argue with the efficiency of these events. The ability to meet in person with current and future buyers, suppliers, and team members from around the country makes for a powerful argument to attend. That said, I’ve yet to meet a CMO or brand owner that doesn’t wish they had “just a little deeper pocket,” or more time, or just a few more resources in which to compete. Since many exhibitors are smaller (think 10×20-foot size booths), private meeting space is a premium and often these brands don’t have the budget to update their appearance as frequently as they would like. It goes without saying, show floors are crowded with high competition for attention and attendee quality can be mixed (more samplers than buyers). Okay, so what’s the big reveal?
To Quote Simon Sinek, “Start with Why”
Why does your company exist? What are you solving for and how do you deliver tangible solutions? Once you know your “why,” your team can confidently talk about your brand, what you do, and how you make a difference. After dozens (if not hundreds) of conversations later, we’ve learned that exhibitors’ needs can be distilled down to just a few key things:
Make progress with existing accounts – That means writing business, connecting face-to-face, getting in front of issues and problems, uncovering new/future opportunities, and connecting socially to further solidify relationships. Foster these connections by reaching out before the trade show and having conversations to better understand their mission and vision.
Open new accounts – Nothing is more important to the company and gratifying to salespeople as opening new accounts. Sales leadership needs to set goals, acknowledge progress, and celebrate the wins.
Encourage team building and support – With sales reps distributed around the country, trade shows become an economical way to get everybody in the same room. These events are a chance to align teams on strategy, current product, and service talking points. This knowledge-sharing and dose of camaraderie all make for a well-functioning sales organization.
The other stuff – Trade shows are a great opportunity for assessing competition, identifying trends, and taking advantage professional education and development opportunities. While you’re at it, be sure to schedule time to get out of the booth to engage in panel discussions, lectures, and networking events. Stop by the press office to distribute any press releases, and encourage reporters to stop by your booth. Leverage social media (especially Twitter, Instagram, and LinkedIn) – most conferences have a specific hashtag you can track – to contribute to discussions and hot topics at the conference. Participating in these ways establishes you as a leader in your category.
The Basic Block and Tackle
Determine who you’re targeting and set your goals – Who are your best customers and your most desired prospects? Media, brokers/distributors, and other industry analysts should also make this list. Knowing who you’re for and who you’re not is a critical step in being efficient with your time and message. And if it isn’t obvious, capturing leads is why you’re here. Whether you use a lead retrieval device or the traditional pen and paper method, having a system you know you can rely on is very important.
Plan your engagement strategy pre-event, onsite, and post-event – Start early by defining your selling strategy and key messaging, and researching trends and competitors. It’s important to engage marketing early in the planning process as well. Start with the company website, blog, social channels, and email. Establish campaign cadence pre-event, during the event, and after. Empower your sales reps to be social by equipping them with content they can post online throughout the event.
Get your story baked (not fried) – It’s important to remember the value of a good first impression. Everybody on the floor needs to be on the same page. I’m often surprised of the lack of basic product information and the amount of inconsistency between salespeople at the same booth. Remember your “why,” and be proficient with your product and service talking points.
Invite interaction and make your booth approachable – Duh…Your booth strategy, design, layout, and messaging all need to work in harmony to attract your prospect, engage the uninformed, position your offering, and above all, set the table for a selling conversation. According to CEIR (Center for Exhibit Industry Research), 80% of what visitors remember the most about their visit to a booth is their interaction with the exhibit staff. Keep it simple and make it easy. And lest we forget, a well-designed booth has back-of-house function as well. From storing inventory to creating conversation spaces, smart booth design is worth the investment.
Ask for feedback – An accurate assessment of a prospect’s “intent to act” is everything. Beyond a typical qualifying conversation, if you can get attendees to fill out a quick survey, that data could prove invaluable. You can learn important information about the buyers in your industry, and also get a better understanding of why and how attendees come to these types of events. You’ll walk away with benchmark data, allowing you to make better informed decisions in the future. Also, your new customers will see that you care about their feedback – further improving their experience with your company.
Follow up with leads – It’s shocking: according to CEIR, 87% of leads captured at trade shows are not followed up on properly. Plan ahead to make sure you have a good process in place to follow up with leads. It is important that you follow up as soon as possible after the show so that your prospect feels valued and remains engaged.
Integrate and activate your social platforms at the event – There are only two forms of marketing that take place in real time — events and social media. Take full advantage of your event and combine the two to optimize exposure and extend your reach far beyond the trade show’s doors. There are many ways for you to interact on social media during your event. Here a few ideas:
- Think of a memorable hashtag to create a buzz around your booth and encourage feedback from those that stop by. Include it on display material so that everyone sees it. Attendees will feel more involved in your brand, therefore increasing favorable relationships and loyalty.
- Tweet to guests that have stopped by your booth with a simple thank you or nice to meet you to keep the conversation going after they walk away. This makes them feel special and appreciated – creating organic evangelists for your brand.
- Highlight those that won a game or raffle at your booth to strengthen connections and get other attendees excited about stopping by.
- Search Twitter to find individuals tweeting at the event and encourage them to come stop by your booth (in a human, non-marketer voice).
Other things to remember – Exploit opportunities for pre-show publicity. There are lots of overlooked ways companies can promote themselves before they even get to a show. It’s worth investigating publicity options across pre-show media and marketing material, social networking, sponsorship, speaking opportunities, and show floor activities. This will help drive traffic to your stand and encourage relevant attendees to seek you out.
In addition, the shows I mentioned earlier all have sponsorship packages to maximize your company’s exposure to qualified decision makers. These onsite marketing opportunities may include advertising in the program guide, award submissions and winners presentations, hosting user group meetings, participating in short course presentations, or sponsoring exhibition giveaways.
Start early, employ these strategies and tactics, eat right and get enough sleep. A trade show may seem daunting to some and trivial to others. But if you follow these recommendations, I’m confident you’ll get the most out of your trade show investment and see a ROI you can take pride in.