State-of-the-Art Lead Management Exhibitor Webcast

Transcription

1 Present State-of-the-Art Lead Management Exhibitor Webcast How to Improve IFT Food Expo Lead Quality & Sales Conversion Participant Learning Objectives This briefing will... Custom 1. Provide key insights on lead management and formulas to calculate the cost of leads. 2. Discuss the four phases of closed-loop lead management. 3. Present a brief overview of Experient s lead retrieval systems available at IFT Food Expo. 4. Present strategies for improving lead routing, lead follow-up and building accountability from sales and distribution channels to follow-up and report on lead progress and conversion. 1

2 Key Insights on Lead Management 1. For most exhibitors, the REAL product of a tradeshow is leads. 2. % of leads are never followed-up. 3. % of sales people view show leads as cold calls. 4. % of buyers receive information after they have made a buying decision. 5. The problem starts with the CAPTURE process. 6. Most exhibitors don t know what becomes of their show leads. Why is This Happening? Perceived of tradeshow leads. Marketing and Sales disconnect. Lack of exhibit staff. % of booth staff have never received one single hour of professional training on how to work an exhibit. Lack of clarity on what a lead really is. Lack of a Closed-Loop lead management system. Define What Is and What Isn t a Lead What Is a Lead? 1. Personal 2. Qualifying Questions Asked 3. Answers 4. Next Step and Agreed To by Visitor What Isn t a Lead? Badge swipe Business card in somebody s pocket 2

3 Calculate the Real Cost of Poor Lead Management 1. Cost Per Lead: Example Participant Total Show Spend $75,000 $ Divided by # Leads 150 = Cost Per Lead $500 per lead $ 2. Lost Revenue Opportunity: # Leads 150 x Lead Conversion % x 25% x % Estimated Lost Sales 38 x Average Sale Amount x $25,000 x $ Lost Revenue Opportunity $950,000 $ 3. Impact on Brand: How does not following up impact your company s brand perceptions in the market? Four Phases of Closed-Loop Lead Management 1. Capture high quality leads. 2. Efficiently Route leads to the right people for fast follow-up. 3. Effectively Follow-Up to convert leads to purchasing action. 4. Provide an easy method for lead recipients to Report progress and sales conversion. 3

4 Set Realistic Lead Goals 1. Exhibit Interaction Capacity formula calculates the number of face-to-face interactions you can execute in your exhibit. 2. Use Exhibit Interaction Capacity formula to Set Lead Goals: Example Participant # of exhibiting hours 18 # of booth staff x 3 x total staff hours 54 interactions/hr/staffer x 4 x total target interactions 216 % of visitors to lead x.25 x Lead goal 54 Determine the Best Information to Capture to Qualify Leads Typical information areas might include: Address Specific Project/Application/Need Requirements or Specifications Product Interest & Level of Interest Buying Role and/or Influence Evaluation and/or Decision Team Competitors Budget Timeframe Specific Next Action Step Other? 4

5 Five Generations of Lead Capture Devices 1. Rent the show lead capture system Rent and customize 2. Universal lead capture system 3. Smartphone technology 4. Use a paper lead form 5. Collect business cards Official Show Lead Retrieval Vendor 1888 North Market St. Frederick, MD P: Access Code: XUIFNHe: XUIFNH Order Form Available Online at IFT s Exhibitor Only website 5

6 Lead Retrieval Devices Available Optium RT1000 The RT1000 is a handheld wireless unit for exhibitors who require a mobile method for capturing information and instant access to that data. Captures and immediately sends leads to a secure, password protected website for follow-up Booth activity can be monitored, in real time, from remote locations Color screen with full QWERTY keyboard allows for custom notes and easy qualification through a standard or customized survey Reads badges with bar codes Available with a compact printer for immediate lead printing Battery Powered no electricity required. Optium S400 The new standard in lead retrieval. This compact, lightweight unit is designed to fit easily on any exhibit booth counter. The Optium S400 is packed with features such as: On-board USB drive allows for quick and easy follow-up Easy-to-read customizable printout makes lead qualification a snap Internal memory for back-up of leads and demographics Bright LCD screen for instant lead database review Small footprint (8"l x 3-1/2"h x 4-1/2"w) Requires electricity Optium TS600 The TS600 is a compact, lightweight unit designed to fit easily on an exhibit booth counter, yet is packed with features such as: Full-color touch screen for easy-to-use on-screen qualification and instant lead database review On-board USB drive allows for instant access to electronic lead file. Easy-to-read customizable printout makes lead qualification a snap Internal memory for back-up of leads and demographics Requires electricity 6

7 Products & Services Available Integrates w/ registration database. Covers all data-aware smartphones. Capture leads per salesperson and aggregate. Take notes within each lead. Standard survey capability. Off-line mode: NOT dependent upon continuous cellular connectivity. Can export list of leads. Each salesperson can view their leads in a customize portal. Develop an Easy to Apply Lead Grading System 7

8 Train Your Staff 1. why you are developing the system and what is in it for them. 2. Create accountability by setting lead goals. 3. Provide hands-on role playing with the device before the show. 4. Kick-off your program with. Assign a Lead Captain Responsibilities of the Lead Captain: 1. Sets and lead goal. 2. Ensures availability and functionality of capture devices. 3. lead goals versus actual. 4. Acknowledges performances& corrects non-performance. 5. Ensures data entry into CRM system and routing. 6. Possibly, the point of contact for reporting. Only Route Qualified Leads 1. Sending leads to the field is a key reason for poor lead follow-up. 2. Consider a post-show (re)qualification process. 3. Route leads! 4. Include All Relevant Data. 5. Assign or route leads through your CRM system, a web-based application or a lead tracking spreadsheet. 8

9 Build a Culture of Lead Reporting 1. Create Culture of Reporting Communicate Cost Per Lead. Inform or cc the reps manager. Use to kick-off the program. 2. Hold End of Shift or Day Lead Review Meeting Check individual SWAP lead capture portal 3. Close of Show Report Number of leads captured versus goal Cost Per Lead Number of Leads and % by Priority Code Prepare Lead Follow-Up Plan BEFORE the Show 1. Sort leads by. 2. Determine media. 3. Determine messaging. 4. Determine timeframes. 5. Assign responsibility. 6. Use wherever possible. 9

10 Tips for Using a CRM System to Track Led Progress and Sales Conversion 1. Source new leads to the show. 2. Add contact history to existing records. 3. Schedule at least pre-set reporting dates. 4. Pre-design templates. 5. Pre-design follow-up letters. 6. Use automated processes to schedule follow-up by priority tracks. 7. Add user-definable fields. 8. Set-up custom lead tracking tied to the show. Three most important ideas I learned from this session were: IFT Commitment to Exhibitor Education & Success Exhibitor Only Website: Exhibitor Resources & Education Live and re-playable webcasts How-to exhibiting articles Resources for new exhibitors Exhibitor news blasts Best practices Bookmark, Share and Access at: First-Time Exhibitor Website: Tools & Resources Bookmark, Share and Access at: Freeman s First-Time Exhibitor Tips The information contained in this web site was developed to make your exhibiting experience at McCormick Place smooth, easy and cost efficient! Free Customized Trade Show Strategy Session with Trade Show Bob - tradeshowbob@ift.org 10

11 Want to Make it BIG in Show Business? The Tradeshow Turnaround Artist Can Help! "In today's changing and competitive marketing arena, exhibitions are one of your most effective media IF done properly. However, few exhibitors truly understand how to make exhibitions payoff," says Jefferson Davis, America's premier exhibiting expert and author of Results-Focused Exhibiting. IFT 2013 Described as "a burst of focused and positive, can do energy", Davis's innovative, practical and process based approach to exhibiting has helped his clients produce over 500 million dollars in exhibition sales since Over 90,000 exhibitors have attended his exhibiting success seminars and workshops. Hundreds of companies have hired Davis as a consultant and trainer and have experienced immediate, dramatic and measurable improvement in their exhibiting results in just one show cycle. Is your company ready for a tradeshow turnaround? Visit and take our Complimentary Exhibiting Needs Assessment to find out. Or call Jefferson Davis at to learn more about: Exhibiting by Objectives Consulting Services High-Impact Pre-show Marketing System Development Consulting Custom Exhibit Staff Training Workshops and Coaching Solution Focused Sales Training and Development Programs Closed Loop Lead Management System Development Consulting Exhibiting Cost Control and Return on Investment Measurement Consulting 2211 Houston Branch Road Charlotte, NC Phone: Fax: