Tradeshow Optimization Program tm

Transcription

1 Present Tradeshow Optimization Program tm How to Take Full Advantage of the AAOS Exhibiting Opportunity Custom Participant Learning Objectives: By the end of this webinar, you will Discover perspectives and practices that improve exhibiting performance and results fast. 2. Learn four critical exhibiting success factors that point the way to productivity & profitability. 3. Overview 10 major steps to making tradeshows more productive and profitable. 1

2 Perspectives & Practices When you ask the unsuccessful exhibitor What are you buying? Why do you exhibit?, you will hear phrases like. Ask the successful exhibitor and you ll hear 1. Get Clear About What You Are Really Buying Face to Face Contact - Exhibiting results come from how well you put your company identity, staff, products and services face-to-face with the right people to exchange information that leads to a commitment to action from visitors. 2. Recognize and Take Full Advantage of the Unique Dynamics a. The customer to you, with a relatively, on your in an environment hyper-conducive to talking and doing business. 3. Appreciate the Cost-Effectiveness Factor Field Sales Call - $ Per Attraction/Interaction - $ /$ 4. Appreciate the Sales Efficiency Factor Field Sales Call per day Trade Show - per day/per staffer 2

3 5. Appreciate the Sales Compression Factor Field Sales Call F2F calls to close Trade Show F2F calls to close 6. You have a Finite Amount of F2F Interaction Capacity Exhibiting hours 23 Full time exhibit staff Conservative # Interactions/hour/staffer Exhibit Interaction Capacity x x 7. Approach Your Exhibit Program as an Investment A marketing and sales and CRM investment Expect and for return on investment Goal: $ to $ back for every $1 invested o.in value and/or revenue o in a manner o over time 3

4 8. Move From Logistics to Strategy The average exhibitor spends % of their pre-show planning and execution time on logistics. Focusing solely on logistics only ensures one thing: We need to spend more time on issues: Show analysis Audience analysis Getting stakeholder buy in and support Setting clear, compelling objectives and outcomes Planning for execution and results Pre/at-show marketing to drive qualified booth traffic Effective communication with team Measurement 9. Focus on Four Critical Exhibiting Success Factors: 1. OUTCOMES: Use Exhibiting by Objectives to support your company marketing and sales objectives and take advantage of the many opportunities shows present. 2. ATTRACTION: Develop pre and at-show marketing processes to attract enough of the right people to your exhibit and functions. 3. EXPERIENCE: Deliver a high-quality visitor experience that secures a commitment to a next action step with qualified visitors. 4. FOLLOW-THROUGH: Follow-up to convert visitor commitments to action, ideally purchasing, and measure results. 4

5 (EBO) Exhibiting By Objectives to Plan for Results 1. Identify and AND get them thinking about what they can accomplish through the show. 2. Identify your top 3 for exhibiting: Convert reasons to SMART goals: S M A R T 4. Create Written Action Plans: Elements of the written action plan: Statement of the goal: What exactly is the desired outcome? Strategy: In a broad brush strokes, how will we achieve this outcome? Tactics: What specific actions will we need to take? Budget: How many staff hours and dollars will be allocated? Responsibility: Who will do what? Timeline: What is the start and target completion date for each action? 5. Schedule, communicate, execute, monitor activity, and measure results 5

6 Create a Worthy Destination 1. The Primary Question: What do we want our ideal visitor to,, and as a result of visiting our exhibit? 2. Five Keys to a More Effective Exhibit: 1. Location: 2. Size: 3. Identity and Branding: 4. Visual Communication: Quickly answer the 3 questions in the mind of the attendee: Creative Interactivity: Ask: 6

7 Use Targeted Pre/At Show Marketing to Attract Enough of the Right People 1. The attendee s behaviors have changed spending fewer days at the show 76% preplan their visit stops at exhibits on average of these stops are preplanned 2. Less than % of exhibitors do targeted pre-show marketing 3. The 5 step Pre-show Marketing Planning Process 1. Calculate and Set an Exhibit Interaction 2. Assign a budget: at least % 3. Create profile 4. Build target visitor 5. Create a General Awareness and High-Profile Campaign that delivers at least direct hits to your ideal visitors. 7

8 Staff for Success 1. The difference between a tradeshow as an investment or an expense is the staffing the booth. 2. Eight Attributes of an Effective Staffer: Success Tip: If your staff is deficient in 3 or more areas, provide exhibit staff training. 3. Seven keys to Staffing for Success: 1. Put the right of people in the booth. 2. Have a good of staff. 3. Prepare a booth. 4. Always conduct a. 5. Set, and goals. 6. Recognize and reward. 7. Elicit from your staff. 8

9 Train Your Staff to Use an In-Booth Interaction Process 1.,, and is the enemy! 2. Your staff can get done if they have some structure and process. 3. The difference is training on. 4. Tradeshow Interaction Process: 1. Make contact. 2. Gain quick. 3. Briefly present to needs and interests. 4.Capture information and secure a to the next action step. 9

10 Develop a Closed Loop Lead Management Process Seven Keys to Developing a Closed Loop Lead Management System: 1. Define what is and a tradeshow lead. 2. Set lead goals. 3. Make your staff. 4. Identify what you need to capture to qualify a lead. 5. Develop an effective lead process. 6. Assign a lead. 7. Efficiently route leads and make it easy to report on progress and conversion.. 10

11 Measuring & Reporting Exhibiting ROO & ROI Why Measure? - Raise your value to your company - Justification - Gather information to improve results 1. Return on Objectives (ROO): Evidence you made toward relevant objectives. 2. Return on Investment (ROI): Evidence you made. 3. Hard Dollar: received that can be credited toward the show, typically in the form of at-show and post-show sales. 4. Soft Dollar: received that can be expressed in numeric terms, typically in the form of money saved. Examples: - Cost per lead savings (compared to other lead generating media). - Cost per interaction (compared to cost of a field sales call). - Column inch of publicity (compared to advertising costs). - Number of exhibit impressions (compared to advertising costs). - Comparable costs of market, customer or competitor research. - Comparable cost of recruiting. - Goodwill generated with existing customers - Research costs saved. Cost Per Lead (CPL)\ Total Show Investment $25,000 (Divide) by # Leads 150 Cost Per Lead (CPL) $167 Comparative (Print Ad) $500 Less Cost Per Lead - $167 Savings $333 Times # of leads x 150 Soft Dollar (SD/ROI) $49,950/200% 11

12 5. Return on Investment Formula Revenue Credited to Show Less Cost of Sales (Gross Margin) Gross Exhibit Profit (Loss) Less Exhibiting Investment Net Exhibit Profit (Loss) $ $ $ $ $ Net Exhibit Profit (Loss) $ Divided by Exhibiting Investment $ Multiplied by 100 x 100 Return on Investment % 6. The BIG question: Did you generate a 300 to 500% ROI? Here are the 13 sections of the Exhibit Effectiveness Report: 1. Objectives: 2. Leads: 3. Exhibit Traffic: 4. Cost Per Interaction: 5. Pre and At-show Marketing: 6. Public Relations and Press Exposure: 7. Exhibit Design: 8. Exhibit Demonstrations/Presentations 9. Hospitality & Sponsored Events: 10. Key Customers and VIPs met: 11. Competitive Summary: 12. Show Budget/Actual with ROI: 13. Lessons Learned and Recommendations for the Next Show: 12