NEED JUSTIFICATION FOR YOUR TRADE SHOW PROGRAM?
Over the years, many studies have shown that when advertisers maintain or
increase their advertising efforts – including trade show promotion – during a
slow economic period they gain a correspondingly significant "jump start" on their
competitors. This occurs for several reasons.
First, while purchasing is on hold, demand is still there. Buyers are continuing to
look for information about the products and services they are expecting to buy
once things pick up again. So, while buyers may not be buying, they are preparing to. This is where a continuing advertising program reinforces name
recognition, builds product awareness and appreciation, and strengthens your
value.
Second, advertising makes sure that you are in front of your customer when they
are ready to buy. Industries, companies, and consumers bounce back at different
times. You want to be the salesperson standing at their door when it's opened
rather than the one just walking up the street!
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Based on an article by Elaine Lyerly, President, Lyerly Agency
4819 Park Road, Charlotte, North Carolina.
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Skyline Trade Show Tips A To
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Tip
B
Now You REALLY Need To Promote Your Show Attendance!
In early October, registration was off by 20 percent for a major November show.
The show manager told their top exhibitors that many former attendees had
called concerned that favorite exhibitors would not show. The top exhibitors
quickly put together a press release assuring their attendance and explaining
why participation was important. The release was placed on exhibitor web sites,
the sites of two sponsoring magazines and the sponsoring organization. In a few
weeks registration was back up to only three percent less than last year.
So, announcing your participation in trade shows and conferences through direct
mail, e-mail or telephone contact has never been more important!
One other thing: The low occupancy rates in hotels and load factors on airplanes
have made travel costs less expensive short term. It might be beneficial for you
to find out about such values and pass them along to your clients. Perhaps at the
same time you confirm that you’re exhibiting!
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From the November 11 issue of “Trade Show Week”, an industry
publication
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Skyline Trade Show Tips A To
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Tip C
Budgeting Rules of Thumb
When it comes to trade show expenses, how does your company compare with
industry averages? The largest expense for the average exhibitor is floor space.
That is followed by expenses for traveling and living, installation and dismantle
services and exhibit property. To find out how your trade show budget allocations
compare to the norm, see “Budgeting Rules Of Thumb” here.
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Budgeting Rules of Thumb (an Adobe Acrobat file.)
Information furnished by Exhibitor Magazine. Matt Luke, Skyline
Massachusetts, created the chart.
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Skyline Trade Show Tips A To
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Tip D
What Can Exhibitors Do To Make Booths And Shows More
Successful?
What Trade Show Managers Say--
“Tradeshow Week” recently published results of its Annual Survey of Exposition
Managers. The managers offered advice on strategies that exhibitors could pursue to
make their booths and shows more successful.
On Promotion and Marketing
- Don’t cut back on marketing expenditures
- Use pre-show marketing
- Know your target market, send personal invitations, communicate, product and
services clearly
- Spend more time in follow-up
- Train booth personnel thoroughly
On Preparation and Planning
- Create a plan and work it
- Educate staff in pre-, at- and post-show tactics
- Sign up early and promote participation
- Take advantage of advance discounts
On On-Site Performance
- Bring your best and newest products and services
- Create active and exciting displays
- Be more aggressive and proactive
- Have more knowledgeable staff
- Take full advantage of the exhibit’s design
On Visibility
- Increase visibility through sponsorships
- Don’t take yourself out of the game – downsize if necessary but don’t cancel
- Maintain a presence at long-standing major events
On Communications
- Communicate with customers frequently throughout the year
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Skyline Trade Show Tips A To
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Tip E
Need to justify trade show expenditures?
The Strategic Planning Institute
(SPI) has a theory called “Critical Paths to Profitability” that shows the correlation between sales success and specific
marketing efforts employed. Simmons Market Research Bureau proves that trade shows are one of the best all-around marketing activities at every stage in
the Critical Path process. Noted business experts like Tom Peters tell us that “each day, new competitors
emerge, new technologies arrive, product life cycles shrink anew” and that
companies who continue to market themselves in down times are the ones who
capture the largest share of mind when the market turns around. Buyers best
remember those companies names and products who continue to stay visible
and in touch, and are most likely to remain loyal purchasers for the future.
Skyline asked two industry experts to explore the hidden value that trade shows
play in driving sales. They collaborated on a white paper that can help you show
justification for your trade show expenses. Click here to view this white paper.
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Skyline Trade Show Tips A To
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Tip F
New England’s win over St. Louis in the Super Bowl may be
another reason to consider renting a trade show exhibit According to a little known forecasting tool called the Super Bowl Indicator – a
win by an original American Football League team means a bad year for the
stock market. Hopefully that won’t be the case, but since the first Super Bowl in
1967 the index has been right 90 percent of the time. Renting makes sense during tough economic times when departments face
budget cuts. You can save up to 75 percent renting an exhibit versus buying one.
Seven other reasons to consider renting:
7 – As companies attend more shows, it’s almost inevitable that two will run
back-to-back or at the same time. It makes sense to rent when there’s a conflict.
6 – A company attends countless shows using an owned exhibit. But once a year
needs more oomph at the industry’s premier event.
5 – A company may have a one-time new product launch that demands a giant
presence.
4 – Renting gives first time buyers a chance to test the waters.
3 – Renting does not set your exhibit future in stone.
2 – Rather than buying a new exhibit to meet the needs of a new market, renting
lets customers test it with a minimum investment.
1 – Renting is a good entrée to international trade show marketing.
Exhibits
that work in the U.S. don’t always translate well in other countries.
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Skyline Trade Show Tips A To
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Tip G
Why 8 out of 10 Leads Are Not Followed Up And What To Do
About It
Have trouble qualifying and following up on leads? You’re not alone. 9 out of 10
of us attend trade shows to generate qualified leads, but 8 out of 10 of leads are
never followed up. Those statistics were revealed by the Center of Exhibition
Industry Research. So what’s the problem?
Most leads are not qualified. The information captured lacks sufficient detail to
provide a bridge between the show and the sale. So follow-up is no different than
cold calling. Because few exhibitors have systems in place to capture, fulfill and
follow up on leads, so we don't get as much out of them as we should.
What can we do?
1. Create a lead form to capture specific information and get your sales
organization to review and sign off on it.
2. Train your booth staff to capture that information and get them to prioritize
leads as they are generated and review them each night for
completeness.
3. Create a system to manage leads. When the show ends how do they get fulfilled, who is responsible for the transmittal letter and lead management
reporting, when and to whom does the sales force report results?
4. Prepare your lead follow/fulfillment before leaving for the show. If you are
sending a letter along with literature, prepare and store it so all you have
to do is text merge your leads into your word processor. Most exhibitors
go to shows to accelerate the sales cycle. In order to accomplish this goal,
a well thought out lead management system needs to be in place.
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Attend our free seminars and learn how to manage leads and set objectives and
measurable results. Check the schedule
for one in your area.
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Skyline Trade Show Tips A To
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Tip H
Nine Reasons For Renting:
1. Rental provides the flexibility to bend with the prevailing winds without
abandoning long-term goals.
2. Rentals allow exhibitors to change their look from show to show or to
reinvestment their brands as their product focus shifts.
3. Good rentals help maintain a cutting-edge appearance in the short term
without making huge capital investments that could haunt a company down the road.
4. A rental costs 25-35 percent of a similar built-to-own booth. Graphics cost
about 20 to 40 percent of a typical rental price. Since clients usually buy
and reuse graphics, those renting for multiple shows can often cut those
costs considerably. Given those figures, three or four rental exhibits cost
roughly the same as buying a comparable exhibit.
5. Rentals allow exhibitors to be a little braver. You can take a risk and do
something different.
6. Combination rental and custom options provide flexibility. More and more
people are seeing rental as a cost-effective way to enhance a booth property they already have.
7. As companies attend more shows, it’s almost inevitable that two shows
will run back-to-back or at the same time. It doesn’t make sense to buy a
new exhibit.
8. A company may attend numerous shows with its own booth but once a year wants to do something dramatic at the industry’s premier event.
9. Rentals can open the door to new exhibitors. The prospect of buying a
booth can discourage first time exhibitors. A rental can help make their
first outing both affordable and productive.
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From the September 2001issue of “Exhibitor Magazine”, an industry
publication
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Skyline Trade Show Tips A To
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Tip I
5 Reasons Why The Best Time To Exhibit Is Right Now
With the economy turning around, is this a good time to invest in a trade show
exhibit? The answer is yes. Statistically, there is no bad time to invest in an
exhibit. Trade shows are one of the most cost effective means of reaching
customers and prospects any time:
1. The Center for Exhibition Industry Research
(CEIR) released statistics
earlier this year that put the average cost to close a sale beginning with a
trade show lead at $705. That’s significantly less than the $1,140 it costs
to close leads from sources other than trade shows.
2. Trade shows are also less expensive than field sales calls for reaching
potential customers. $212 is the national average cost of reaching a visitor
at a trade show. It costs $308 to visit a prospect in the field.
3. An average of 1.6 personal follow-up sales visits is needed to close a sale
originating from a trade show contact. Comparatively, 3.7 visits are required to close a non-show lead.
4. Trade shows out-perform catalogs, manufacturer’s reps, trade journals
and many other kinds of sales contacts as the main source for purchasing
information.
5. The quality of trade show attendees is at an all time high. Over 71 percent
can authorize or approve the purchase of products or services; and over 70 percent hold professional and managerial positions.
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Courtesy: Center for Exhibition Industry Research; Successful Trade Show
Strategies
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Skyline Trade Show Tips A To
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Tip J
TRADE SHOWS ARE A UNIQUE OPPORTUNITY
Trade shows provide a unique opportunity that cannot be replicated in any other
type of venue. The Center for Exhibition Industry Research (CEIR) revealed the
following about exhibitions:
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88% of attendees have not been seen by a member of your
company’s sales staff in the preceding 12 months
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Seven out of ten attendees plan to buy one or more products
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76% asked for quotes and 26% signed purchase orders
(average all shows)
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72% of show visitors say the show influenced their buying decision.
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87% of attendees will share some of the information obtained at an exhibition
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64% of attendees tell at least 6 other people about the event.
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58% attend only the show in which you are exhibiting
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40% are first-time attendees
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It costs 22% less to contact a potential buyer at a show than it does through
traditional field sales calls
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54% of exhibitors do not set objectives, and a much larger percentage have
no formal process to either measure objectives or report about what happened at their events.
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