Trade Show Marketing - Part 1
Trade Show Marketing - Part 1
1. Find the right trade shows to participate in
2. Attract a large number of your ideal clients into your booth
3. Capture lead contact information
4. Follow up with leads efficiently and effectively after the show.
Finding the Right Trade Show
In order to determine whether a trade show is worth your investment, you need to ensure that there are enough of your ideal clients to warrant the cost of attending the show. To figure this out consider:
• How many sales do you need to come out of the show?
• How many leads do you need to drive this number of sales?
• How many people need to walk by your booth in order for you to capture these leads?
To find out the answers to these questions, measure the effectiveness of your last show. Ask the trade show organizers, trade show experts, and/or people in similar industries, what their success rate has been?
I like to work on the 5% rule. In other words if I require 5 sales from a show and that means 50 qualified leads, there better be at least 1000 people attending the show. Also, if the average value of a new client is $5000 and I expect 5 new clients and I am willing to pay only 10% of gross revenue to attract that client then I don't want to pay more than $2500 in total for the show ($5000 x 5 sales x 10%).
Attract a Your Ideal Clients into Your Booth
Most people are hesitant to stop at booths, if they feel they are going to be pounced on by a sales rep. But worse than pouncing is being completely passive, simply smiling at passers by! Your signage, display and messaging is key to attract people in. But also consider, what creative strategies you can execute to get people to enter your booth. Here are some examples:
1. Food or Drinks - I used to use the slogan that I could help companies get a "bigger slice of the pie" and gave away apple tarts (mini pies) at my booth. Once people have actually stopped you can now focus on conversation and introducing them to your products and services.
2. Trendy Gadgets - I have seen companies use water based tattoos, stickers, slippers and other interactive props to encourage people to stop. These might include your logo, thought provoking quotes, or simply something that everyone in that industry enjoys!
They become trendy when participants run around wearing them, playing with them, etc at the show.
3. Interactive Games - People like to play. What can you give them to try out at your booth? This is a great way to demo your product or again hit on a common interest of your prospects. I know a tech company that is looking at doing a golf simulator at their next trade show and will be sending out the pictures and videos after the show. While this may have little to do with their product, they know their ideal clients to a large degree, enjoy the game of golf and will no doubt stop to see how their swing compares to Tiger Woods.
Trade Show Marketing Part 1 - To learn more about this author, visit Cidnee Stephen's Website.
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Trade shows are what I like to term a high investment marketing strategy. By this I mean they require a significant amount of money and time to execute. While pricing of the actual space may seem reasonable, once costs for display booths, signage, promotional material and manpower are tallied up - it is a pricier lead generation option to undertake. That being said, I still find it to be a fantastic way to generate a large number of qualified leads. The question is, have you put enough forethought into your trade show strategy to effectively do the following:
1. Find the right trade shows to participate in
2. Attract a large number of your ideal clients into your booth
3. Capture lead contact information
4. Follow up with leads efficiently and effectively after the show.
Finding the Right Trade Show
In order to determine whether a trade show is worth your investment, you need to ensure that there are enough of your ideal clients to warrant the cost of attending the show. To figure this out consider:
• How many sales do you need to come out of the show?
• How many leads do you need to drive this number of sales?
• How many people need to walk by your booth in order for you to capture these leads?
To find out the answers to these questions, measure the effectiveness of your last show. Ask the trade show organizers, trade show experts, and/or people in similar industries, what their success rate has been?
I like to work on the 5% rule. In other words if I require 5 sales from a show and that means 50 qualified leads, there better be at least 1000 people attending the show. Also, if the average value of a new client is $5000 and I expect 5 new clients and I am willing to pay only 10% of gross revenue to attract that client then I don't want to pay more than $2500 in total for the show ($5000 x 5 sales x 10%).
Attract a Your Ideal Clients into Your Booth
Most people are hesitant to stop at booths, if they feel they are going to be pounced on by a sales rep. But worse than pouncing is being completely passive, simply smiling at passers by! Your signage, display and messaging is key to attract people in. But also consider, what creative strategies you can execute to get people to enter your booth. Here are some examples:
1. Food or Drinks - I used to use the slogan that I could help companies get a "bigger slice of the pie" and gave away apple tarts (mini pies) at my booth. Once people have actually stopped you can now focus on conversation and introducing them to your products and services.
2. Trendy Gadgets - I have seen companies use water based tattoos, stickers, slippers and other interactive props to encourage people to stop. These might include your logo, thought provoking quotes, or simply something that everyone in that industry enjoys!
They become trendy when participants run around wearing them, playing with them, etc at the show.
3. Interactive Games - People like to play. What can you give them to try out at your booth? This is a great way to demo your product or again hit on a common interest of your prospects. I know a tech company that is looking at doing a golf simulator at their next trade show and will be sending out the pictures and videos after the show. While this may have little to do with their product, they know their ideal clients to a large degree, enjoy the game of golf and will no doubt stop to see how their swing compares to Tiger Woods.
Trade Show Marketing Part 1 - To learn more about this author, visit Cidnee Stephen's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
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Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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