Using Trade Shows to Maximize Success in International Markets
Trade Show Benefits
Trade shows serve as a very powerful marketing tool to reach a large number of potential customers in a short time and at a single location. According to the Center for Exhibit Industry Research, it costs 62% less to close a lead generated from a trade show than one originated in the field.
Exhibiting at trade shows, expos, conventions, fairs and other exhibitions gives you a unique sales opportunity to generate new leads, find suppliers, check out the competition, network, and get publicity. Trade shows allow you to personally meet most of your important clients and suppliers, which helps to establish and reinforce relationships. According to a Simmons Market Research Bureau study, 91% of respondents ranked trade shows as "extremely useful" as a source for product purchasing information. This was higher than any other source, including on-site visits from representatives. Also, nearly half of the respondents had purchased products or services at the trade show. Additionally, overseas industry trade shows offer one of the most effective and efficient ways of exploring and entering overseas markets.
Common reasons for exhibiting include:
- Generating sales leads and identifying prospective customers
- Generating actual sales at the show
- Enhancing your image and visibility, establishing a presence in the marketplace
- Reaching and educating a specific target audience
- Improving the effectiveness and efficiency of your marketing efforts
- Personally meeting your customers, competitors and suppliers
- Introducing new products and services
- Demonstrating your product in ways not possible using other marketing channels
- Recruiting distributors or dealers
To accomplish any of the above, you must plan carefully, which means setting clear objectives, choosing the right show, creating an effective exhibition, and promoting your presence. Advance planning is critical. It gives you better control, saves you time and money, and provides you the opportunity to achieve significantly better results.
Effective trade show planning can be easily separated into three components: before the show, during the show, and after the show. Click on the following links to learn more about getting the most out of your trade show experience.
- Before the Show
- During the Show
- After the Show
BEFORE THE SHOW
Setting Clear Objectives
To get the most out of the time, money, and energy
you invest in exhibiting at a trade show, it is critical that you decide
what your purpose is for being there and set measurable goals in terms
of sales, customers reached, or new leads, for example. Everything you
do before, during, and after the show should be evaluated in terms of
whether it contributes toward reaching these goals.
Focus your
message
Pick two or three key ideas that you want to get
across at the show and train yourself and your staff to disseminate this
message to your audience. Design your graphics, pre-show
promotion, literature, and show directory advertising around your
message.
Create a
budget
Once you know which show you are going to be involved in and what
your goals are, create a budget. Without a budget, costs can quickly add
up and get out of control. It is best
to determine how much the company is willing to spend, prepare a written
budget, allocate the money properly, and record your expenses for future
review. Determine why the budget amount was exceeded for any reason
after the show or if you held to the pre-determined
budget.
To help you begin planning a budget for your trade shows, the pie chart below offers a breakdown of how most companies spend their trade show dollars. Your company's needs may vary. (Source: The Trade Show Bureau).
Selecting the Right Show
With so many exhibitions to choose from, exhibitors need to determine which trade show will help them to achieve their objectives best. Companies that are consistently evaluating their place in the market, their target customers, their operating budgets, and how to stand out from the noise are those that are most successful. Your company's involvement in trade shows should follow these same guidelines. As you will see from creating your budget, trade shows are expensive, and as such, companies must carefully assess a number of factors to select the right trade show. In Europe for example, many trade shows, particularly in Germany, are very large in scale and have a pan-European scope. Such shows provide exposure to a broad market. Country-by-country, there are also smaller shows, which cater more to the local industry. Depending on your company’s objectives, one or both of these approaches might be beneficial.
Before deciding on the trade show that best suits your marketing
goals, first establish that the exhibition is supported by your trade
association/s. If it is a new exhibition, check with your
competitors and clients to see if they are supporting it, ask the
organizers how many visitors they are expecting (specifically those in
your field), and what promotions they will be undertaking. Check to see
who has already booked stands and what are the costs of stand/s and what
is included in the rental.
Also look into how long the organizers have been in business and what
other shows they organize. Keep in mind that the job of the
exhibition organizer is to create a unique marketing opportunity for
exhibitors, not just to sell them stands. Other factors in
selecting a show include attendee and exhibitor demographics; the
quality and quantity of industry professionals; the show's success rate
and growth; and cost-effectiveness. Once these factors have been
carefully assessed, it should be clear whether the show is likely to
help you achieve your goals.
There are a number of resources for identifying suitable domestic and overseas trade shows. Government export offices and the U.S. Department of Commerce have databases and directories containing information on overseas shows. Other resources include business libraries (which often house trade show directories); trade show organizers; chambers of commerce (American Chambers of Commerce abroad and foreign chambers in the U.S.); and industry trade associations in the U.S. and overseas. There are many trade show resources on the Internet. Some of the many trade show search sites are listed below for informational purposes only:
Check it out ahead
of time
The best way to evaluate a show is to take a first-hand look.
Before you sign up, go to the show as an attendee if
possible. See whether the show is
active and exciting. Are the people walking the show floor potential
customers? Who are the other exhibitors and where would your
product/service fit in the mix? Talk to people and keep your eyes
open.
Evaluate it
carefully
Once you have a list of show possibilities, ask these questions
to determine if the show is the right one for your goals and
objectives:
- Is it big enough to draw a cross-section of prospects and vendors -- but not so large that you'll be competing against the giants in your industry?
- Is it in the right place, geographically, to attract your customers -- whether they are local, regional, national, or global?
- Is it scheduled at a time when you can service the new business you’ll attract and follow up on leads?
Pre-show promotions
Research reveals that exhibitors who undertake pre-show promotions in order to attract quality visitors to their stand, improve results by 300%. Study your trade show objectives and determine whom you would like to attract to your exhibit. Then, target all pre-show promotions at them. Choose your promotional tools based on your objectives and budget. Some examples of pre-show promotion are the following:
Invitations- the organizers will supply you with complimentary
invitations to the exhibition. These can accompany your pre-show
promotions.
Features/Show Supplement - many
organizers arrange a show supplement in the trade press and this is a
good place to advertise or place an editorial, as it reaches the widest
audience.
Internet - most organizers have
a Web site for their exhibitions and if it includes an exhibitor
listing, is a great way to bring visitors to your company home page.
Direct Mail - Include a show
special offer, a buy-one-get-one-free offer, a give-away, or hospitality
that they can collect from your stand. The quality of the database is
the most important factor in gaining the best response from direct
mail.
Remember that all pre-show promotions should create a benefit for the
prospect and can determine whether or not they visit the exhibition. If
appropriate, include a complimentary invitation to the
exhibition.
Effective Trade Show Display Units
Studies repeatedly find that a tradeshow display booth typically has only 3 seconds to catch the attention and communicate to a potential customer passing by it at a show. Your display will probably be one of tens if not hundreds of displays that your potential customers pass at the show. The key to stopping these potential customers is to have effective graphics. With the above in mind, the following are suggestions for creating an effective trade show display unit:
Your booth should draw the attention of potential customers
There is so much sensory competition at any exhibit event that you need to have a plan to stand out and be different from the rest. Work towards developing a booth that evokes a reaction to those attending, catching their attention. Don't create a standard trade show display unit that is ordinary when you can be unique.
Your overall exhibit should speak to your targeted customers while weeding out curiosity seekers.
You do not want to waste your time and resources entertaining passerbys who have no intention of ever becoming your customers. So, once you have captured attention with your trade show display unit, have it deliver a message that cuts out everyone who is not likely to be a customer. In order to do this, make it clear what you offer and make your offer appeal to your most desired audience. This means expressing your most outstanding benefit clearly and compellingly so that your target visitors come to explore your offer and speak to your booth staff. Every element of your trade show display unit should exude your primary benefit, leaving no doubt in your target customer's mind what you can do for them.
Shoot for a high-traffic
location
Be sure to look at a floor plan before you choose your site. Foot
traffic is heaviest in certain areas of a typical trade show floor. Look
for locations near entrances, food concessions, rest rooms, seminar
rooms, or close to major exhibitors. Try to avoid dead-end aisles,
loading docks, obstructing columns, or other low-traffic regions.
Consider sharing a booth
New exhibitors often get the least desirable
locations. One way around that is to share a well-located booth with a
colleague in a related business. Talk to your sales rep, or try to
connect with an established exhibitor whose products or services
complement yours. This cost-cutting solution works especially well for
sole proprietors. Besides saving money, additional benefits to a
booth-sharing arrangement include access to each other's customers in
the same market niche, and the convenience of having a knowledgeable
person staffing the booth when you need to take a break. However, the
danger of this approach is that one exhibitor may garner more exposure
and publicity, which may cause some conflict. There is also the issue of
the signage and the "overall feel" of the booth that has to be agreed
upon by both parties.
The Massachusetts Office of International Trade
and Investment (MOITI) promotes Massachusetts exports through five to
six industry-specific European trade shows per year focusing on the
state’s leading industries such as life sciences, medical
instruments, IT, marine technology, plastics, environmental,
etc. View 2004-2006
trade show schedule.
Participation through MOITI enables companies to exhibit at these shows
at a significant cost savings with a number of value-added services not
available to companies exhibiting on their own. For more information on
upcoming trade shows, please visit the Massachusetts Export
Center's calendar of
events or contact us.
Appeal to the senses
Make sure people coming to your booth can
experience your product or service. Let them touch, see, feel, hear or
taste it. Display your product/s in an appropriate setting and have
samples that buyers can touch.
Keep it simple
Don't go overboard with booth graphics. One large
picture that can be seen from afar may have a greater impact than many
small ones. A single catchy slogan that describes your business may say
more than long blocks of text.
Gimmicks work
Gimmicks and give-aways can also drive traffic to
your booth. Hold a contest; have a loud product demo; give away pieces
of candy; offer a special attraction. Just make sure that the gimmick
fits your company's image and the sensibilities of your
clients.
Planning your follow-up strategy
The time to plan your follow-up strategy is before the show begins. That way, you can reach prospects with your follow-up message while the show is still fresh in their minds. Here are some things you should know about follow-up:
Write your follow-up mailer before the
show
Your post-show mailing can be as simple as a
thank-you note or a brochure with a cover note. Write it and have it
printed and ready to send before you leave for the show, so you can mail
it immediately upon your return.
Keep your promises
Be sure that you keep any promises you made at your booth. Have enough brochures and product sheets on hand before the show so you can send out requested information promptly.
DURING THE SHOW
Stand Managers
Be sure to staff your booth adequately and smartly. Successful exhibitors appoint a stand manager who has exhibition experience, management's support, and the necessary authority to liaise with all departments in your organization in regard to the stand. Stand managers should be involved in your exhibition participation from the formulation of written objectives, right through to the processing of leads after the show.
Stand Staff
Stand staff are a vital ingredient in successful trade shows. Careful staff selection is vital for successful stands. Stand staff should understand your goals and know their role in reaching them. It is important for stand staff to share your commitment for maximum results from the stand. Consider initiating a financial motivation scheme that rewards the number of leads gained or orders placed. A good incentive scheme can improve performance by 200-300%.
The sheer volume of visitors at trade shows makes staff rotation important. A good rule of thumb is to have two staffers for every 100 square feet of exhibit space. Your staff should be well groomed, well trained, friendly and knowledgeable.
Stand staff should not work longer than 4 hours
before having at least a one-hour break. Uniforms for stand staff
(matching t-shirts, sashes, hats, etc) are professional and by
identifying staff, the organization displays their willingness to meet
and assist show visitors.
All information for stand staff, such as hours to be worked, uniform to
be worn, financial motivation, and lead management procedures, should be
put in writing in order avoid any misunderstandings.
Checking out competitors’
products
Virtually all exhibitors at trade shows budget
time for surveying their competitor’s latest offerings. Keep in
mind, however, that while you are doing this, you aren’t in your
booth selling to and meeting customers. If you need to go on a
competitor scouting expedition, just make sure your booth will be
adequately and professionally staffed in your absence.
Qualify leads during the show and take
notes
Rank your leads by level of importance and
interest and base your post-show efforts on these priorities.
You will have conversations with dozens of people
during a trade show and many of them will give you their name or a
business card. Make sure you remember what you talked about and why you
saved their card by jotting a note about what you talked about on the
back of their business card or on a note pad while you are at the show.
To collect qualified names and addresses from show attendees, ask them
if they would like to be put into your database to receive future
product offerings, show specials, and company notices by both postal
mail and e-mail.
Listen to Feedback
Don’t lose out on the ad-hoc feedback a tradeshow can provide. If ten visitors to your booth say, “That would be cool if…” you might want to pay attention. Don’t let your dedication to your idea keep you from being open to comments you will receive throughout the show. Be prepared, some will be positive, and some will not. In short, don’t be so involved in putting your idea out there that you forget to do some information gathering and learning.
AFTER THE SHOW
Post-show follow-up and evaluation of your R.O.I. (return-on-investment) of time & money spent for your company is very important. Many companies evaluate each trade show in a variety of ways:
- Actual sales made on the spot during the trade show.
- By the number of attendees who added their name & address to the database signup.
- By actual customer lead cards acquired for company sales representatives to call on after the show with specific information collected as to what product(s) the customer is interested in and what the time frame is they will purchase.
Implement a company policy to ask each customer
during every sale, especially after a show, where they heard about your
company. This contributes to the evaluation of your company’s
marketing plans by knowing where y