Alexis Exhibits

Is Your Trade Show Exhibit a Good Investment?

Many marketing executives can’t completely answer this question. They essentially repeat what was done in previous years with slight variations in execution. Taking a moment to analyze your trade show goals and results can help you find new ways to acquire more customers and make your trade show investment really pay off.

Trade shows are expensive, but they can also be one of the best sales and marketing investments your company makes. Trade show exhibits provide unparalleled opportunities to forge stronger customer relationships, win-back old customers and acquire new, high-value customers. But you should expect this effort to deliver more.

Maximizing your Trade Show Exhibit investment

  1. Incremental sales and profits
    Track your results and determine your Trade Show ROI. More information about how to calculate your Trade Show ROI.If your trade show ROI is not acceptable, then look for ways to make improvements. First, look for gaps in sales and customer tracking to ensure that the data is accurate and complete. Next, make sure that the shows selected were good choices and had significant attendance from your target customers.

    Then look for marketing gaps: ineffective or no lead follow-up, insufficient planning, staffing issues or other reasons that the shows were not productive. Once you identify an issue, you can adjust your strategy and improve results.

  2. Improved competitive position
    Did your company strengthen relationships with current customers, increase brand awareness, launch a new product that differentiated your company, expose your company and products to a new market? Generally, did your trade show investment help position your company for future sales gains and market share increase?If your trade show exhibit doesn’t improve your market position, then carefully evaluate your strategy. How can you adjust your trade show marketing plan to outdo your competition?
  3. PR and Investor Relations
    Did you generate meaningful press coverage? Did your company’s trade show presence result in improved perception of your company in the investor community? Do you get any significant consumer education opportunities from the show?If your trade show attendance has not been a PR opportunity, it is a promotional gap that should be evaluated for potential for your company.
  4. Market intelligence
    Trade shows are an excellent way to gain competitive intelligence. They also can be used for market research and provide an excellent opportunity to gain customer insight.If your trade show isn’t providing your company with market intelligence, develop a plan to maximize this unique opportunity to gather both the latest competitive info and to learn more about your customers.

Have you analyzed your trade show investment? Are you satisfied with your results?

Trade Show Planning: Creating a Timeline

Organizing your company’s participation in upcoming trade shows can be stressful and requires precision and strong organizational skills. To make it a tad less stressful, prepare a timeline of things that must get done and when they must be accomplished. This alone can help you stay on track, reduce some of the nail-biting and prevent missed deadlines that can cost you down the road in lost discounts, rush fees and missed opportunities.

There are deadlines for choosing an exhibit space, for ordering show services, and for creating your exhibit. There is no one right way to create a timeline, as they can be organized in a myriad of ways (deadlines, tasks, etc.). However, once you come up with one that works for you, use it as a master template for creating timelines for all future shows.

Here are some general guidelines to help you in your planning:

12+ months out: Determine your objectives

Identify the role that trade shows will play in your overall marketing and sales plan. Will trade shows be primarily used to generate sales leads and prospective customers?

Conduct research on what shows will best achieve these objectives.

Determine a budget and project your return on investment (ROI).

9-12 months out: Initial planning mode

Compile a list of specific objectives for each show, such as number of leads, number of products sold, amount of publicity sought, etc.

Identify the booth size needed and type of display, along with marketing collateral and promotional items.

Register for the show and reserve your space with show management and request full details of exhibit requirements (deadlines, shipping information, etc.).

Create a trade show marketing plan that uses a mix of promotional methods to reach sales prospects.

6-9 months out: Fine-tuning your message

Develop your sales message that will communicate a compelling story and deliver the key points you want to make in as short a time as possible (preferably less than 30 seconds).

Choose an exhibit company to help create and deliver an exhibit that will fit your needs and budget. Research their capabilities, experience, and design talent, and be sure and check references of past clients.

Determine what promotional strategies, such as giveaways and attractions, you’ll use to draw attendees out of crowded aisles and into your booth.

4-6 months out: Tying up loose ends

Order promotional items (giveaways, takeaways, prizes, etc.)

Confirm delivery dates with your exhibit company to assure your display will be ready on time.

Determine who will be staffing your booth at the show, develop schedules, and plan training sessions.

Make travel and hotel reservations, if you haven’t already.

Determine how your exhibit and accessories will be shipped to the show.

Launch pre-show marketing initiatives.

1-3 months out: Check and double check details

Assemble packets of information for post-show marketing follow-up.

Contact show management for any last-minute details, changes, etc.

Finalize production of display, promotional items, and marketing materials and confirm shipping date.

Schedule dinners, briefings, or other meetings with customers, media, or sales staff.

Re-confirm hotel and travel arrangements. Last minute snafus are costly and can be eliminated by doing one last review of all your staff’s travel plans.

One week out: Crunch time.

Wrap up staff training of booth personnel.

Confirm shipping arrival dates for your display, marketing materials and promotional items.

There’s always going to be that one thing that completely slips your mind, however, having a timeline can help you stay focused, and more importantly, stay on schedule.

Goal Setting – How to Evaluate a Successful Tradeshow

As corporate tradeshow marketing professionals, justifying participation in trade shows is one of the most daunting tasks that we face. The competition for every penny of your marketing budget is fierce and very few executives are in love with tradeshows.

How can you convince others in your organization that shows are a good investment? How can you say that you had a successful show when there was never any measurement technique established? Like any other investment, it must start with goals. When the decision is made to exhibit in a show, you and your team need to produce a written set of measurable goals that everyone buys into.

These may include a number of completed lead sheets, meetings with certain key prospects, the number of individual demonstrations, etc. This list, created well before the show provides a very effective guide for exhibit design, graphics, booth staffing and show activities. Everything planned for the tradeshow must be done with your goals list in mind.

During the show, you can assemble the data to report which goals were achieved and which were not.

A team meeting 2 weeks after the show will allow you to share your results and will clearly demonstrate the value of the show. This then becomes a procedure that is done for every event.

A lack of goals leaves the future of your tradeshow program totally to chance. Need help establishing your goals? Our exhibit management is based entirely on strategic planning. Let’s Talk.

How Tradeshows and Social Media Co-exist

There is Still a Place for Trade Shows in Your Marketing Mix

Talk to anyone who sends more than 2 texts a day and they will tell you that the only way to market products and services is to use Twitter, Facebook, Linkedin or search engine optimization. They consider face-to-face marketing to be an antiquated form of communication and that the days of tradeshows are numbered.

Those of us who make our living producing trade shows get the opportunity to see things in a different light. Walk the aisles at the consumer electronics show and watch buyers from all over the world making deals with major manufacturers. Go to the HIMSS show and see hospital administrators finalizing plans for purchase of their new IT infrastructure. Attend the American College of Cardiology meeting and listen to heart specialists discussing the advantages of various new instruments with the inventor. This type of important business communication can only be done face-to-face and the most cost- and time-effective way to do this is at a tradeshow.

Social Media Should be an Important Part of Your Tradeshow Promotion

The fact is, social media can and should be an important part of tradeshow promotion and communication. The ability to reach out to potential customers before, during, and after a show using this technology can greatly increase tradeshow ROI. Just like any other marketing project, exhibitors should enlist the assistance of a person or group that has experience with the most popular networks, explain their goals and put together a plan for your tradeshow.

Keep an open mind. Don’t expect overnight success. Continue to review and improve your approach to both media and the results will come. Let’s talk.

Best Practices for Establishing a Tradeshow Budget

Preparing a corporate marketing budget these days is a daunting task. All companies need to increase sales leads and amp up revenues, but shrinking marketing budgets have forced companies to carefully consider what must stay and what must go as far as budget items. An important component of the overall marketing budget is the portion allotted to tradeshows, which can be a valuable tool to help increase the visibility of your company and boost sales.

tradeshow_budgetThe reality, however, is that no matter how you look at it, tradeshows are expensive endeavors. You have to rent the space, create a display, promote it, stock it, and staff it. So before you decide to undertake a tradeshow, take a comprehensive look at all the costs associated with exhibiting as well as the expected returns.

Establishing an accurate tradeshow budget early is essential to developing an overall strategy that will achieve success and assure upper management buy-in. The amount you allocate to tradeshows will depend upon the scope of your efforts and the number, size and location of the shows you are planning on exhibiting at throughout the year. Though strategies will vary from company to company, the methods of establishing a tradeshow budget remain relatively the same.

Let’s take a look at some of the larger components you’ll need to be cognizant of when preparing your overall tradeshow budget.

Space rental. Exhibit halls will charge your company based on the size of your display so determine early what size booth you will be using so you can more accurately estimate how many dollars to allocate to booth space rental.

Utilities and related booth expenses. There will be a charge for installing and dismantling your booth. Other expenses include electricity, gas, water, and any other items you may require at your booth during a show.

Exhibit display, signage and accessories. This would include everything from display production, graphics, and banners to booth furniture, literature racks and any equipment needed to demonstrate your products. Crating and storage costs should also be added to this category.

Shipping and drayage. This would include all expenses associated with transporting your exhibit and materials to each location. Freight would include charges for shipping your exhibit, literature, and any other materials to the event location and back to your office or warehouse. Drayage costs account for items delivered to and from your booth space from the loading dock of the exhibit hall or conference center.

Travel and entertainment. Try to put together a realistic estimate on what it will cost you and your staff to attend each tradeshow. This estimate must include travel expenses (airfare, taxi fares, rental cars, etc.), meals, and hotel expenses. This category would also include any expenses associated with entertaining prospects and customers during the show.

Show marketing. This would include all the marketing and sales collateral required to support the exhibit. These materials could be used at multiple shows, so keep in mind that these costs will be spread over a number of shows. These might include product literature, handouts, staff training, and show promotional items.

Want to know how to leverage our experience and make your trade show budget go further? Let’s talk.

Calculating a Trade Show’s ROI

Exhibiting at trade shows is a costly and time-consuming marketing activity. Though that is indisputable, the costs are often more than recouped when the show is a success and your company leaves with many promising sales leads that can— with proper sales follow-up —be converted into future customers.

roiSo how do you determine whether a trade show was a success and worth the expenditure? In order to determine if the cost of attending a show was justifiable, you’ll need to calculate the show’s return on investment (ROI). In this case, ROI is the gain or loss from the money spent on various marketing activities (tradeshows, sales promotions, advertisements, etc.) that are intended to drive sales.

Calculating ROI is pretty straightforward. You simply divide the gross sales dollars resulting from the effort, in this case a tradeshow, by the cost spent to execute it. For example, if your company generated $600,000 in gross sales as a result of sales leads generated at a trade show event and it cost $150,000 to attend.

ROI: $600,000 ÷ $150,000 = 4

ROI is expressed as a ratio so it would be 1:4, which means for every dollar invested, your company got back four dollars. The tricky part is that it’s very difficult to determine exactly which sales leads from tradeshows resulted in actual sales. So in this case, you’re estimating ROI, not calculating an actual ROI.

In order to estimate ROI from tradeshows, companies use a variety of methods. Some companies have determined through past experience the average number of qualified leads it takes to get a specific number of opportunities to pitch to potential buyers, and how many of these will ultimately result in a sale.

The number of presentations that close in a sale are known as the “close ratio.” Over time, a company will be able to compute an average close ratio. Once a company has determined a close ratio, it can use leads generated at a show to estimate potential ROI from that event.

Another way to estimate ROI is to perform a sales conversion study. This is a controlled interview technique that is conducted via email or phone within a few weeks of an event. The intent is to uncover buying intentions and purchasing time from a pool of qualified leads collected at an event.

ROI: Gross dollar buying intentions ÷ cost of the event and the cost of the survey = Potential ROI

Don’t overlook the soft benefits

While you are calculating the dollars and cents, don’t forget to consider the benefits of exhibiting that can’t be expressed in numerical terms, like:

  • Strengthening relationships with current clients.
  • Increasing brand awareness.
  • Consumer education efforts.
  • New product introductions.
  • Investor relations and improving perception of your company in the financial community.
  • New market introductions.
  • Public relations including editorial coverage.
  • Competitive intelligence.
  • Customer insight and research.

Though measuring exact ROI is difficult, these techniques can help you estimate your possible return using information that is more easily accessed from your internal sales groups. Using a projected ROI is a great way to strengthen reported results from tradeshows as well as to increase your credibility with upper management.

How to Choose the Right Trade Show

Some trade shows are great investments and deliver lots of high-quality leads; others are just a waste of your marketing budget. choicesThe trick is to find the productive shows without making a lot of mistakes.

I always start by defining my marketing goals and target customer. This immediately points me in the right direction. Armed with that information, I put together a list of all the shows that reach my target customers and then evaluate them.

What kind of show should you attend? Often it is a mix of consumer shows, industry shows, buyers’ expositions and educational conferences. Each kind of show has its place.

Then look at these key factors to decide which trade show is best suited for your business:

1. Does the show help you meet your marketing goals?

If you are interested in a regional market or are new to trade shows, consider participating in a smaller, local trade show. If your goal is to acquire the largest number of qualified leads, to support a major new product launch, and/or to significantly build awareness, participate in the major industry tradeshows that capture the largest number of target customers. If your objective is to build your network and to position your company as a thought leader, then investigate shows where your company can be a show’s sponsor and a company representative can be a featured speaker.

2. Is it the right market space?

A show that matches your exact market space is often the best show to attend. You can learn a lot by looking at who exhibits at a show you are considering. A list of past exhibitors is usually available from the trade show management or on their website. Call a few of the past exhibitors and ask about the quality and number of attendees at previous years’ shows. Identify the shows that have an exhibitor mix that will attract your target customers and that are complementary to your business.

3. Determine which shows your top prospects attend.

See if the attendee list from past shows is available. Review the list to determine which shows have a large number of your target customers on the attendee list.

4. Identify which shows your best customers attend.

Call your customers and ask which shows they plan to attend and which shows they would like to attend. If there is a show that some of your customers would like to attend but are not planning to attend, ask if they would attend if they received a free pass to the exhibits. Most major trade shows offer exhibitors a limited number of free passes, so if your customers would attend the show with free passes, this could be a good reason to attend this show.

5. Figure out where your competition will be.

How many of your competitors will be exhibiting at the show? If you are not there, will you be at a competitive disadvantage? Trade shows usually bring together many competitors under one roof. Look for shows where your company will stand out as a leader in your market.

6. Consider timing – does the show’s timing make sense?

Will your company have news? Do you have a new product to announce or roll out? Does it conflict with another more important show?

7. Are there any special PR opportunities?

Exhibitors have a distinct advantage capturing Trade Show PR because they have higher profiles than attendees. They can also more easily and effectively demonstrate their products. This is particularly important for new product introductions. Ask the Trade Show management for last year’s press list and if they have any information on who is planning to cover this year’s event. Are there any media outlets attending that provide opportunities for you to reach your target audience in an impactful way?

8. Finally, take a look at the cost to attend each show.

Will it have a positive return on your marketing investment? Which shows have the best returns?

Put it all together and you should be able to pick the best trade shows for your company.

The Tradeshow Survival Kit

When planning to exhibit at tradeshows, it’s impossible to forget the big items, such as your display, accessories, banner stands, banners, signs, and your booth staff. Unfortunately there are many other small items that need to be brought along with you that often fall between the proverbial cracks when packing for a tradeshow. Often, these small items can cost a ridiculous amount of money when you have to resort to buying them on-site or extremely inconvenient when you have to go off-site in search of them.

So to make it easier, we’ve compiled a list of items that you shouldn’t leave the office without when en route to a tradeshow. Most are small enough to either be brought in luggage by a staff member or shipped in one box to the event or to your hotel.

Tradeshow survival kit items include:

An extension cord. Will come in handy when you realize how far equipment or lighting is from the nearest outlet.

Scotch, Gaffers and masking tape. Can be used from everything from holding down a tablecloth to sealing boxes for shipment.

Stapler. What good is a stapler without staples? Pack extra!

Paper clips. What can a paperclip not do?

Velcro dots or strips. Use to adhere signage to you’re the walls of your display, hold up banners or keep tablecloths in place.

Sewing kit. Prevent wardrobe disasters with this handy kit.

Safety pins. MacGyver once saved the world with a safety pin and a rubber band. Enough said.

Push pins. Use to hold signage in place, posts messages or notes, or awaken sleepy staff.

Black permanent markers. Use for labeling boxes or marking items that you don’t want walking away.

Blue, red, and black pens. Yes, attendees steal pens so pack plenty.

rubberbandNotebooks or pads of paper. Keep notes, reminders for staff, etc.

Rubber bands. See safety pins.

Small hammer and screwdriver. You don’t want to have to rely on on-site employees to loan you these handy essentials.

Spare pair of eyeglasses. Would be a really inconvenient time to not be able to see.

Wrist watch. Very important to keep scheduled meetings with the press or customers running on time.

Aspirin, Ibuprofen or other medications. Headaches are common at tradeshows due to late nights, over-imbibing, and lack of sleep.

Tissues. You never know when you’ll need these.

Paper towels. Prevent food or drink spills from ruining equipment.

Garbage bags. Especially handy when cleaning up after show is over.

Hand sanitizer or wipes. Shaking hands is a great way to make a good first impression, but it can also be a great way to catch a cold or other illness.

Alka-Seltzer. Plop, plop, fizz fizz…relief.

Throat lozenges. Everyone’s voices will be tired and sore from all the talking and dry air at tradeshows.

Lip balm. Indoor dry air and lots of talking equals chapped lips.

Eye drops. Won’t make up for lost sleep, but will help.

Comfortable flat shoes. Sure heels make you look great, but after hours of standing up, you’ll be happy you packed a more comfortable alternative.

Stain removal wipes. That meatball sub seemed like a good idea.

Granola bars. Perfect for a quick nourishment break.

Mouthwash or breath mints. Everyone has been trapped into talking to someone who has “death breath.” Don’t be that someone.

Extra batteries for equipment. This is one of the many items you’ll pay an arm and a leg for at the conference center’s gift shop.

Small digital camera. Take pictures of your booth, empty before the show to best show signage, displays, etc., and again while it’s filled with eager attendees for future promotional uses.

What’s on your must-have list? Share in the comments section.

Determine Trade Show Value with the 2 Minute Challenge

As tradeshow exhibit professionals, we are constantly faced with justifying the value of participating in shows. The cost of exhibiting, the travel, diminishing show attendance, and the economy have turned up the heat.

2minutes_clockOne basic test that helps me answer these challenges is to pose a simple question to any bottom line accountable executive. The question: if you were given 2 minutes to explain the advantages of dealing with your company to a person who regularly buys the same products and services from a competitor, do you think that you could convince them to give your company a try?

If the answer to this question is no, perhaps they should consider working for the competitor or at least reexamining your product or service offering.

Most confident executives would gladly accept this challenge. The best place to set the stage for this scenario is at a tradeshow or convention. Couple this amazing opportunity with the fact that the buyer has paid their own way to the show and that they are receptive to this pitch in the show environment and you can easily see the value proposition that tradeshows create.

The clients that I have worked with over the years that have the most success at shows have enlisted the help of a tradeshow pro to put together an integrated tradeshow marketing plan that will result in producing the maximum number of these opportunities. Our exhibit management program focuses on producing successful shows with minimum stress and maximum value. Our on-site trade show specialists are there the entire time, from set-up to tear-down – Let’s Talk.

The Other Reasons to Exhibit at Trade Shows

Almost everything that is written regarding the justification for exhibiting at tradeshows, talks about marketing, lead generation, and sales. These are important benefits, to be sure, but here are several other very good reasons for companies to participate in shows and to make sure that they compare favorably to their competitors. For example:

green pencil checking off checklistThe Investment Community – Companies of all sizes, public or private, need to consider that many investment analysts attend trade shows. Where better to gauge a company’s market position relative to their industry, than at a show? Financial statements are not the only consideration when deciding on investments. Savvy institutional investors often walk the aisles of shows to better understand current positions and future potential.

The Press – We have all seen shows like 60 minutes touring the Consumer Electronics Show or the Housewares Show, but these are not the only times that the press is present at shows. In every industry, people want to see what’s new. In addition, the information that is published will be posted on the internet, allowing global exposure. Favorable press coverage can really help your marketing efforts.

Recruiting – When a company comes to a show with a new or larger exhibit, prospective salespeople or managers see a financially strong, growing company, and are much more likely to consider becoming part of the team.

Market Research – When a prospect comes to your booth, why not do some market research? The key here is to formalize the information gathered by using a lead card. Asking a question like, “What would you think if we added an automatic feeder to our production system?” could provide valuable information for future product development.

While none of these reasons are going to justify the investment of exhibiting at a trade show on their own, they all add to the overall ROI. As such, be sure to consider ALL of the potential benefits when discussing the merits of exhibiting at a show.