Tradeshow Marketing

Trade Shows are what I like to term a high investment marketing strategy. By this I mean they require a significant amount of money and time to execute. While pricing of the actual space may seem reasonable, once costs for display booths, signage, promotional material and manpower are tallied up – it is a pricier lead generation option to undertake. That being said, I still find it to be one a fantastic way to generate a large number of qualified leads. The question is, have you put enough forethought into your tradeshow strategy to effectively do the following:

1. Find the right trade shows to participate in
2. Attract a large number of your ideal clients to your booth
3. Capture their contact information
4. Follow up with them efficiently and effectively after the show.

Finding the right trade show

In order to determine whether a trade show is worth your investment, you need to ensure that there is enough of your ideal clients to warrant the cost of attending the show. To figure this out consider:

How many sales do you need to come out of the show?

How many leads do you need to drive this number of sales?

How many people need to walk by your booth in order for you to capture these leads?

To find out the answers to these questions, measure the effectiveness of your last show. Ask the trade show organizers, trade show experts, and/or people in similar industries, what their success rate has been?

I like to work on the 2.5% rule. In other words if I require 5 sales from a show and that means 50 qualified leads, there better be at least 2000 people attending the show. Also, if the average value of a new client is $5000 and I expect 5 new clients and I am willing to pay only 10% of gross revenue to attract that client then I don’t want to pay more than $2500 in total for the show ($5000 x 5 sales x 10%).

Attract a large number of your ideal clients to your booth.

Most people are hesitant to stop at booths, if they feel they are going to be pounced on by a sales rep. But worse than pouncing is being completely passive and only smiling a passers by! Your signage, display and messaging is key to attract people in. But also consider, what creative strategies you can execute to get people to enter your booth. Here are some examples:

1. Food or Drinks – I used to use the slogan that I could help companies get a “bigger slice of the pie” and gave away apple tarts (mini pies) at my booth. Once people have actually stopped you can now focus on conversation and introducing them to your products and services.
2. Trendy Gadgets – I have seen companies use water based tattoos, stickers, slippers and other interactive props to encourage people to stop. These might include your logo, though provoking quotes and simply something that everyone in that industry enjoys! They become trendy when participants run around wearing them, playing with them, etc at the show.
3. Interactive Games – People like to play. What can you give them to try out at your booth. This is a great way to demo your product or again hit on a common interest of your groups. I know a tech company that is looking at doing a golf simulator at their next trade show and will be sending out the pictures and videos after the show. While this may have little to do with their product, they know their ideal clients to a large degree enjoy the game of golf and will no doubt stop to see how their swing compares to Tiger Woods.

Source: Hubspot