How to Get the Most Results from Your Trade Show Experience Tom Marx President & CEO The Marx Group Thursday Oct. 11, 2012 How to Get the Most Results from Your Trade Show Experience 1
The SEMA Show 2
Unique Blend of Audience 1. 2. 3. 4. 5. Distributors Large and Small Shops Competitors Foreign Delegates Service Providers: Consultants, Ad/PR Agencies, Insurance Carriers 6. Media 7. Trade Associations 8. Enthusiasts 9. Consumers/End Users 10. Others 3
7 out of 10 attendees plan to buy one or more products during a trade show 72% of show visitors say the show influenced their buying decision It costs 22% less to contact a potential buyer at a show than it does through traditional field sales calls Center for Exhibition Industry Research (CEIR) 4
The BIG Questions is How do you convert the traffic into a lead AT and AFTER the show 5
THE SUCCESS OF YOUR TRADE SHOW RESTS HEAVILY ON THE QUALITY OF YOUR LEADS 6
The most important trade show tip QUALIFY AT THE BOOTH! You will achieve greater results 7
Qualifying Criteria List Current client Prospects that you already have an appointment to meet Walk-in that has a need and you see as the right fit (size matters!) 8
Qualifying Criteria List Walk-in who might have a need but is shopping not sure if you are the right fit 9
Qualifying Criteria List Visitor with no need to purchase product/service but can benefit your company/brand media, writer, endorsers or??? 10
Qualifying Criteria List Passerby who visits booth with no need or interest of product or service - possibly there for free promotional items No interaction with visitor entered name into fish bowl or registered for a prize not sure why they stopped by the booth 11
Define YOUR goals Why are you at SEMA? Service current customers? Seek new customers? Launch new products? Meet with the media? Do you know your ROI goal? 12
Important Goals Build community Create buzz Increase reach with awareness Get media, bloggers and forums engaged Excite suppliers Build partnerships Convert prospects into leads into customers 13
Calculating ROI Total tradeshow costs vs. revenue Old school but still important Scenario 1 Scenario 2 Scenario 3 Scenario 4 Tradeshow Cost $ 20,000 $ 20,000 $ 20,000 $ 20,000 Desired ROI 200% 400% 800% 1200% Projected Sales from Event $ 40,000 $ 80,000 $ 160,000 $ 240,000 14
KNOW YOUR TARGET AUDIENCE 15
Who do you want to attract? Media, Writers Current Customers New Prospects Others? 16
THE DIFFERENCE BETWEEN PROSPECTS & LEADS 17
PROSPECT A visitor that has the potential to be a customer 18
LEAD a qualified prospect 19
THE VALUE OF PRE-QUALIFYING Sets follow-up priorities Determines generic vs. personalized follow-up Creates efficiencies after the event WHAT DOES QUALIFIED MEAN? Prospect meets your established criteria Interested in your products/services You know what they want, how much they can buy and supplier attributes that are important to the them 20
Pre-Show Plan 21
Pre-Show Plan Develop pre-qualifying questions what you need to know to qualify visitors Create your Qualifying Criteria List form/app Team meeting make sure your team understands the qualifying criteria Design a way for you to capture necessary lead information lead retrieval machines, forms, ipad app with photo or video, etc. 22
Pre-Show Marketing Initiatives MAKE APPOINTMENTS NOW! Promotion News Release E-blast Mailers Social Media Invitation to visit booth to see something specific Pre-show updates create excitement 23
At-Show Plan 24
At-Show Marketing Ideas Promotion What are you trying to accomplish? Handouts/Flyers Are they necessary? Social Media Post promotions, make announcements when celebrity is present, offer specials give them a reason to come to your booth Post booth updates, booth pictures, product images, testimonials, endorsements at least once per day, more frequently if there is value! 25
At-Show Tips Be organized separate folders/envelopes for each criteria sort while at the show Fish Bowl determine your goal and strategy how will you filter qualified leads from booth wanderers? At-show etiquette Take advantage of media at event 26
At-Show Tips Take photos of your booth, products, products on show vehicles anything that can be used as follow-up Video testimonials and give thank you gift Use your SEMA lead retrieval devices Promise follow-up by when 27
Post-Show Follow-up 28
Almost 80% of leads generated are never followed up with Center For Exhibition Industry Research (CEIR) 29
Not Following Up? Big Loss! Scenario 1 Scenario 2 Scenario 3 Scenario 4 Qualified Leads 40 40 40 40 Average Customer Spends $5,000 $10,000 $20,000 $40,000 Potential Sales $200,000 $400,000 $800,000 $1,600,000 Closing Rate 25% 25% 25% 25% Sales Goal $50,000 $100,000 $200,000 $400,000 Only Follow-Up with 20%? 8 8 8 8 Revised Sales $ 10,000 $ 20,000 $ 40,000 $ 80,000 Lost Opportunity $ (40,000) $ (80,000) $ (160,000) $ (320,000) 30
Follow-Up Tips Qualify at event (sorry to be repetitive!) Follow your plan Meet with team the day after the event Execute your follow-up plan 31
Follow-Up Ideas Email or snail mail thank you E-blast product and company information, promotion winners, testimonials, new product showcase awards, industry acknowledgement, etc. Website custom url to track visits and downloads Mailers send samples of product, catalog, promotions, etc. Better mailed than lost in the goody bag! Calls within a week Social Media Connect with your qualified leads Build friends, networks Media get them engaged 32
Follow-Up Plan for Your Description Criteria Categories Current client Prospects that you already have an appointment to meet Walk-in that has a need and you see as the right fit (size matters!) Follow-up Phone call NOW Email brochure/product sheets Send promotion information Post-show E-blast Connect via social media Walk-in who might have a need but is shopping not sure if you are the right fit Visitor with no need to purchase product/service but can benefit your company/brand media, writer, endorsers or??? Passerby who visits booth with no need or interest in product or service - possibly there for free promotional items No interaction with visitor entered name into fish bowl or registered for a prize not sure why they stopped by the booth Email brochure/product sheets Send promotion information Post-show E-blast Connect via social media Call ONLY if qualified Post-show E-blast Add to database Add to database - if appropriate 33
Sample Follow-Up Schedule Week1 Thank you email or snail mail Follow-up meeting with team Add to CRM system or database; add to regular marketing schedule Connect on social media sites Week 2 1 st phone call Follow-up email send appropriate marketing materials Upload images to Social Media sites share with your new connections Week 3 E-blast on product information Send samples after qualifying Week 4 Follow-up Call Survey 34
CONSIDER NEW TOOLS 35
Place Prospects in CRM System or Database Customer Relationship Management (CRM) Software Salesforce.com Microsoft Dynamics SAP ZOHO CRM Sage CRM SUGAR CRM ACT! http://crm-software-review.toptenreviews.com/index.html http://www.zdnet.com/the-best-crm-suite-1339324237/ 36
Surveys and e-blasts 37
ipad Options ipad App capture the data you need and want from your visitors during the show www.icapture.com 38
ipad Options ipad App Capture leads and view company literature www.mktpoint.com/tradeshow 39
Business Card Readers Business Card Reader SHAPE GmbH http://itunes.apple.com/us/app/business-cardreader/id328175747?mt=8 40
Business Card Readers WorldCard Mobile - Business card reader and scanner Penpower Technology Ltd. http://itunes.apple.com/us/app/worldcard-mobilebusiness/id333211045?mt=8 41
Recap 1. Think Qualification and Quality 2. Develop Criteria 3. Set your Goals 4. Know your Target Audience 5. Understand Prospects vs. Leads 6. Execute your Pre-show plan 7. Outline an At-show plan 8. Have a Follow-up plan 9. JUST DO IT! 42
Download ROI calculator and Criteria Sheet Visit www.themarxgrp.com/semashowplanning2012.html THANK YOU! 43
TOM MARX tmarx@themarxgrp.com 415.453.0844 x106 Subscribe to our monthly newsletter Catalyst for marketing insights. www.themarxgrp.com CREATIVE AND ACCOUNT TEAMS Northern California New York Chicago Los Angeles Detroit Nashville Denver 44