SCORE Minnesota

Tips on Increasing Your Trade Show ROI

February 18, 2010

Are you planning on exhibiting in a trade show this year?  Whether it is a large show such as the IMT or a smaller venue like the Great Manufacturing Get Together, you will probably make sure you get the “right” space, factor everything into the budget, spit-polish your exhibit , prepare your handouts, and handle all the other logistics. Now, all you have to do is wait until it is time to go, right?

Wrong! In many companies, the activities listed above represent the extent of their preparation for a successful trade show.  Well, this is probably good enough for other companies. You, on the other hand, want your company to be out in front of the competition so you can get a good return on your investment in these valuable marketing dollars.

For a maximum return on your investment in trade shows you must begin thinking about the trade show in terms of three integrated activities. These activities can be divided into “pre-show,” “at-show,” and “post-show.”  Let’s start with the “pre-show.” If you haven’t done so already, identify a compelling reason for being there – new product, new technology, recent industry award, etc. Determine your expectations for this show and what metrics you will use to measure your return on your investment. For example, how many new leads do you expect to generate leading to how much more in new business?  Or, how many current customers do you expect to purchase how much in current or new products?

Be sure and communicate with customers prior to the show to find out who is attending.  For example, have your salespeople, account managers, customer service, and even accounting personnel ask, “Are you attending the Great Manufacturing Get Together?”  If you haven’t done so already, rank your customers based on relevant criterion such as annual revenue, product (s) purchased, loyalty, profitability, etc.

Your customer ranking should be a critical field in your CRM system as their ranking can change over time due to ever-changing business cycles. Next, from the trade show attendee list, identify which prospects are attending that match your pipeline and rank them as well.

You will want all your customers and prospects that are attending this trade show to receive an invitation to stop by and visit your booth.  From a strategic viewpoint, concentrate your resources on your top ranking customers and prospects.  Remember, these people represent your target audience for retention, increased wallet share, new business, and recapturing of lost business. Do something special for this category such as an invitation to a luncheon, dinner, or one-on-one time with an executive or other company Subject Matter Expert (SME).  One example I have seen work is to invite both top ranking customers and prospects to a mini-event, maybe a breakfast meeting, with a presentation by your executive team or a SME.  Staged well, your customers will act as living testimonials for your products or services.

For your “at-show” strategies, you should focus some attention on lower ranking customers and prospects.  If you have an opportunity to be a speaker or panel expert, make sure these people are aware of the event and are invited.  Encourage them to stop by the booth.  And, if they fill out an evaluation form, reward them with a unique give-away.  One great example of this tactic that a company used, involved bright yellow t-shirts with the company’s logo and advertisement. Those yellow t-shirts were visible everywhere at the show!  Another promo that a company used was to have their brand imprinted on all the hotel key-cards. Of course, show attendees carried those hotel key-cards everywhere.

Make sure your booth staff are well prepared.  Develop an elevator pitch which will provide a consistent message from your whole team. Tweets can be sent throughout the show. Provide your staff with lead generation cards with a few short targeted questions, i.e. Do you currently use this product/service? Will you be upgrading your product/service in the near future?  Who handles the decision for buying this product/service?

Ok, now the show is over. As soon as you pack up you are ready to relax. Not so fast! Now, you need to take action on your “post-show” strategies.  There are three key steps in this strategy:  follow-up, follow-up, and follow-up.  Make sure all booth visitors, through lead cards or otherwise, have granted you permission for future contact. These people should all receive a “thank you” for stopping by.  Once again, you should focus your efforts on your top ranking customers and prospects.

Your follow up communications should be tailored for each of your objectives:  retention, increased wallet-share, new business, or recaptured business. Your lower ranking customers and prospects should receive the appropriate amount of attention based upon the lead generation activities you gathered.

Finally, make sure you have a way to track the show results in your CRM system. This way, you can generate reports, measurable over time, against your goals, and expected ROI.  Then, when you receive next year’s trade show invitation, you will have access to the data you need to determine whether or not it makes sense to attend and if so, what changes can be made to improve your ROI.

To learn more about how to increase your trade show ROI contact SCORE by clicking the link on the right to the office nearest you or click here to request free face to face counseling.

Have you ever considered volunteering for SCORE? SCORE volunteers help millions of new or existing small businesses succeed each year by sharing their knowledge and experience. Click here or the link on the right to the office nearest you to learn more.

Ken Pirkl, St. Paul SCORE
View more posts by Ken Pirkl

Filed under: Management,Marketing

Tags: at-show, post-show, pre-show, rank your customers / prospects, trade shows