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By Mike Kelly, CFE
Before you hit the floor of
trade and road shows, it’s a good idea to review the categories of
business in the convention and exhibition venues inventory: repeat,
responsive and new.
Repeat business. The first type is
the best and certainly the most telling. Repeat business is repeated
because the product factors mix is just too attractive to ignore. Place,
product and price align like stars in a preferred mix for the client.
Don’t take repeat business for granted. Sometimes when we’re the only
game in town, clients have no choice but to come back to us. There’s no
comfort in monopoly positioning; venues must be vigilant and clued in to
the changing reasons for client patronage. The loss of what has been
repeat business for whatever reason is a sign that you’re out of touch
or circumstances have left you behind. If nothing else, competition
keeps us honest and humble.
Responsive business. This is when a
client walks in off the street or phones in an order. This is sometimes
earned, where our reputation precedes us, but again, it’s often a factor
of limited available options to a client. This doesn’t mean we don’t
have to present our unique selling proposition, but the odds really are
more in our favor, since the client came to us. No reason for
overconfidence here since responsive clients can be converted to repeat
clients in some situations.
New business. The third category is
what trade shows are all about. We don’t exhibit at trade shows to
service repeat or responsive clients. New business clients are all about
generating qualified leads. Unless a client walks in or phones up, where
do you go to get new clients? You can wait for references from the
convention bureau, get intermittent market intelligence, or make some
cold sales calls. Usually, we’re amongst competitors and, as with all
competitions, only the best win.
Success at Trade Shows
After all that context, we can finally define what measures or courses
of action guarantee success at a trade show. Let’s start at the
beginning.
 Pick
the right trade show. Get this wrong and the rest doesn’t
matter. Not all trade shows are created equal. Do your research and know
which shows bona fide buyers frequent. Be careful with the promise of
“hosted buyers.” Know who’s coming beforehand, and do your homework to
prequalify buyers. Attend shows that provide B2B opportunities, usually
prescheduled, 15-minute sessions with preferred buyers.
Location and visual impact. Booth
location and booth design are both critical. Don’t fall prey to the
accountant’s dream and the salesman’s nightmare: getting your display
booth buried behind a competitor or the refreshment stand. Buying the
cheapest spot on the floor isn’t the best use of your money, and it’s
definitely a waste of your time.
Be wary of group buys for booths where a representative, usually a
central buyer like a convention bureau, settles for a poor site
selection. Know what you want and settle for nothing less. If there’s
ever a time to be demanding, this is it. This is where the savvy
exhibitioners shine. Location, location, location.
PSP (preparation, stamina and presence).
Like all good Boy Scouts and girl guides, be prepared. Have your USP
(unique selling proposition) well rehearsed, and bring your best game
with you. Know your product inside out; know who’s coming to the show;
know who and where your competitors are; and be prepared to do the
research needed to be an effective salesperson.
The challenges are made all the more difficult when you consider you may
be spending the best part of several days on your feet. That’s in
addition to the rush and stress of set up and tear down, freight
forwarding, and dealing with the myriad of things that go wrong on the
trade show floor. It takes stamina to be effective.
On top of all that, you have to have presence — more presence than the
competition. Yes, it’s a competition, so be sure you’re fighting fit and
that you bring your best game every day to the trade show floor. You’re
carrying your venue’s brand on your shoulders. Be alert, interested and
knowledgeable. Be ready to cut good prospects out of the crowd and
capture their attention.
Sometimes you also have to be cold blooded. Don’t let the time wasters
waste your time. The better prospects could be passing you by, heading
to the competitor as others occupy your valuable time. It takes a
seasoned exhibitor to spot the difference and the courage to exercise
the move-along techniques. In the pressure to perform and the excitement
to have a chance to do your stuff, things can get rather confusing.
However, a dash of subtle cynicism is always a healthy trait in an
effective trade show salesperson.
Return on investment. Set measurable
expectations for yourself. It’s all about qualified leads at the end of
the day. While there are networking and relationship cultivation
opportunities, the measurable result is written, qualified and
prospective new business. That’s why you’re there: return on investment.
Once you’ve collected and qualified the leads from the trade show,
follow up. Even if the prospects aren’t able to come to your venue this
time, get them onto your preferred and targeted database, and begin
cultivating the relationship on a regular review basis for possible
future returns. Follow up with correspondence in a timely fashion so the
client can be exposed to and begin to appreciate the efficiencies of the
business practices of you and the company.
Consistency wins the day. Having
said all of that, trade show attendance isn’t productive on a sporadic
basis. It’s a longer-term commitment. Once you find a good trade show to
attend for your particular product and USP, stick to it. Sometimes it
takes two or three years for business to come to fruition. Do be
consistent. If you want results, don’t be a puddle jumper, switching
from show to show.
Mike Kelly, CFE, is senior
vice president for NCC Management and Development Co Ltd and IAAM
Ambassador for Asia. |
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