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Cost-Effective Presence or "Organized Crime"?
The lament has probably been the same since chariot manufacture and distribution were the drivers of commerce. If we're going to be at a trade show, don't we have to look stronger than the competition? We want to be able to go to new markets but can't even afford the old ones. If these questions and issues resonate with you - Read on. You can have your cake and it eat too. What we propose may seem radical but consider 2 things: Are there any other cures for the problem? If you pick and choose from the offering of tips below, you can customize your own solution. What follows is a before and after sample budget that is quite realistic: |
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Save 24% (in the above case) by Using Inexpensive Literature for Unqualified prospects Do you produce or print product brochures, spec sheets, white papers, owner's manuals, etc., specifically for tradeshows? Do you ship large quantities of printed materials to the show, few of which are read, many of which are discarded? Save your in-depth, expensive literature for qualified leads only. Highlight new and featured products in less expensive newsletter format. This piece becomes your "one size fits all" handout (for both dead leads "a fact of life" and to whet the appetite of potential customers). And, because it's news, you can re-use it to send to people who do not attend the show (produced for both print, email, and the web). Follow-up with detailed, "expensive" lit only after the prospect reaches some level of qualification. Do a Better Job of Qualifying Prospects Most badge-scanning equipment doesn't capture the RIGHT information. Manual data acquisition is more personal, more valid, and has a much higher ROI. But, there are now Palm handhelds available with badge scanners that allow for construction of your own set of questions. Contact BrandInc Associates for further information.
And remember, the "do you plan on buying in 90 days" is the answer, not the question. Use profiling and your sales network to determine the answer AND don't ask the question. |
Print is the biggest savings opportunity while lead capture and qualification are the biggest gains Save $33,000 (in the case above) by Using Inexpensive Literature for Unqualified Prospects
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$10,704 for booth space & 5,676 for people/T&E savings |
Save an Additional 12% by Reducing Booth Space and Ripple Savings Here are some ideas on how to compensate for reduced booth space and gain presence: Display your knowledge (literally) and condense your product exhibit Your knowledge base is a valuable asset, and should be prominently presented in your booth. Condense the products and display demonstrations, FAQs, videos, and other product presentations on plasma screens and other interactive displays. Leverage your website and other interactive tools you have previously created. Bring more support people - less administrative staff We believe that you can get by with less people if they're the right people - specifically customer service people. Generally speaking, service and support people do a better job of explaining your product and qualifying leads. Their direct exposure to customers has collateral benefits as well. They already know how to interact with your customers. Thus the training required for their presence is minimal. You can also reduce overall number of people at the tradeshow. The strain will be holding down the fort at home but the gain is well worth it. Utilize Co-marketing and "Co-opetition" to expand your reach More than ever, no company or corporate division can afford or do everything necessary for product launch and sell through. Also being as pervasive as possible immensely helps in the chain of necessary elements for a positive buying decision. As such, use partner or even a competitors (in another area) booth space for co-showing. Identify those allied industry trade shows where there are common buyers. Typically these arrangements take focus, dedication and resources for the first showing but require much less over time while the value of the association and exposure grows. Solicit the use of your gear by other companies at the show. If you have to - reduce your rental rates, have no charge use (send a discounted invoice), help with freight -- whatever it takes to provide a exposure. Rather than handle this like an afterthought. Solicit the right people, at the show for the next show. |
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Expand your "unpaid sales force" Increase usage of known influencers as demonstrators or another active role in your booth. Having people at the top of their profession demonstrating to peers as well as wannabes. These types actually have the most credibility in representing your product as well as the most applications know-how to share with prospective customers. Supported properly, it can be one of your best wins. Promote this through PR. Have those "influencers" be local, to save on T&E Peer-to-peer networks sprung up long before Napster-in human terms. Having people at the top of their profession demonstrating to peers as well as wannabes. These types actually have the most credibility in representing your product as well as the most applications know-how to share with prospective customers. Supported properly, it can be one of your best wins. Register your users - most of us have a large number of unregistered users. Offer something. If hardware is too expensive, offer knowledge: tips and tricks. Or a warranty extension. Or, offer to make a small donation to an acceptable charity for your market on behalf of all users (you can send their names with your check, now that you have them). It's minimal $, maximum impact. Use pre-show mailers to get the right people to your booth Postcards are cheap, but email is practically free. Pre-show, you can use email to direct people to an appointment calendar on your Web site, or to a show preview section. Make people who are on list feel special: perhaps password/membership entry for that area of the site. Everyone likes a "sneak preview," but no one's particularly interested in another sales pitch. Another benefit /incentive for your "unpaid sales force". Be sure to assign someone to specifically collect feedback. If left to chance, it will fall through the cracks. Have a plan. Start now, it was last year's list - list building link Don't bring the demo stock back home Too many exhibitors ship brand new product to the show,
then pack it up (badly) and ship it back to the factory, where it is eventually
sold off as "B" stock. Why not save yourself the trouble and expense of multiple
transactions and shipping costs? No matter how far from home you may be, you
have a dealer or end user in the area who is looking for a "show special."
Make it part of the local reps responsibility for shows. |
Additional Tips |
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For Further Information on these and other related topics, please call BrandInc Associates 617 566-0303 |
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© 2003 BrandInc Associates. All rights reserved.
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