450 likes | 461 Views
How to Double Your Qualified Leads: Best practices in trade show lead acquisition so management knows you are creating wealth. Matt Hill President, The Hill Group Seriously Fun Training. Presented by:. James Obermayer Founder: Sales Lead Management Association Sales Leakage Consulting.
E N D
How to Double Your Qualified Leads:Best practices in trade show lead acquisition so management knows you are creating wealth Matt Hill President, The Hill Group Seriously Fun Training Presented by: James Obermayer Founder: Sales Lead Management Association Sales Leakage Consulting
About this program: • Nine ELC (key modules) • Matt & Jim don’t always agree. • Complete slide deck is available right after (flash drive) or via email
What’s unique abouttrade shows? • A bottle of water is $7. • Here at the Mandalay Bay Convention Center, Valium and Martinis are available in vending machines. • Even the most sophisticated visitor will act like an idiot to get a free T-shirt. • They are one of the few remaining face-to-face marketing and sales opportunities.
Things you’d like to say to annoying visitors • If I scan your badge, will you leave? • I’m sorry but we only send literature to people who can read. • I’m sorry, all of our brochures are in Latin. • Sorry, no more T-shirts. But you can go to our website and download a T-shirt there.
What we will cover today • Trade show ROI formula • Five tips for doubling qualified leads • Pre-show marketing activities • Generate high-quality qualified leads • Lead systems • Train your exhibit staff • Show analytics • Fulfillment after the show • Three ways to prove a ROI
What are you responsible for? • Marketing? • Trade shows? • Events? Revenue generation
For all qualifiedtrade show leads … • 10-15% will convert to a sale within 30 days (these are hot leads) • 22-26% will convert to a sale within 6 months • 45% will convert to a sale within 12 months *James Obermayer, Managing Sales Leads: Turning Cold Prospects Into Hot Customers, (Mason, Ohio, Textere an imprint of Thomson/South-Western, 2007), and Racom Books, Page 10
ELC #1: There is a trade show ROI formula • Elements needed to figure ROI. • How to use your ROI to your advantage. • Formula: inquiries, x 45% x market share % x average sales price = sales results.
You will need to knowthe following • Your average sales cycle time • Your market share or closing ratio • Your average sales revenue • Total costs associated with each trade show • Sales revenue information
ELC #2: Five tips for doubling qualified leads at trade shows • Do some pre-show marketing activities. • Generate high-quality qualified leads. • Use an effective lead capture system. • Train your staff. • Ranking leads.
Capture complete info • A lead is the only record of the in-booth conversation. • Follow-up is rarely done by the lead-taker. • Capture and verify contact information. • Take notes. • Give feedback to your staff during the show.
ELC #5: Lead acquisition systems:Not the Time to go Cheap! Purchase or rent your own app/devices. Rent app/devices from the show. No equipment; you fill out paper lead forms or grab business cards (fishbowl?). Devices networked together.
Be 100% Present Greet and Engage Quickly
Question and Qualify Visitors Cross-Sell
Deliver visitor-focused demos Work With Groups
During the show • Correct unprofessional behavior. • Give feedback to your exhibit staff. • Update the staff on lead quantity and quality.
ELC #7: Show Analytics: If you can’t report on it, it didn't’t happen • Why should I? • What should be in it? • What should it look like? • Who should get it?
Why should I? • Proves the worth of your events • Proves you are a generator of wealth • Results can be used to determine future participation • Gives you a seat at the decision-making table
What should it contain? • Total leads • Most and lead product interest • General buying time frames • Budgets – up, down, none, some • Attendee types • Follow-up description • Competitive info • Changes for next time
What should it look like? • Start with a summary • Booth results – leads, appointments, sales, etc. • Attendance, buzz, trends • Competitive info • Conference sessions, hospitality events, etc. • Include pictures/video of your booth • Comment on your exhibit staff • Recommendations for improvements
Who should get it? • Anyone with a stake in the show • Everyone who helped produce the show • Your exhibit staff
During-the-show updates • Number of leads so far. • % that are qualified leads. • % that are hot leads. • Top lead producer • Product area with the most leads • Booth appeal and operation • Show attendance • Buzz at the show
ELC #8: Fulfillment: Being slowest won’t get it anymore • Plan fulfillment process before the show. • What should be sent? • Communicate with your fulfillment resources. • How important is timely fulfillment?
ELC #9: Three ways to prove a ROI • Sales/Invoices • CRM/MA System: Tracking sales back to the show leads. • Post show survey: Feedback from sales and/or sales channel. • “Did you buy?” surveys: Survey Monkey or Telemarketing.
Five tips for doublingqualified leads at trade shows Do some pre-show marketing activities Generate high-quality qualified leads Use an effective lead acquisition system Train your exhibit staff Rank and post leads throughout the show
That’s all folks! • Join the Sales Lead Management Association www.salesleadmgmtassn.com • For the complete slide deck, we can save to your thumb drive right now or email us. • Contact info: • Matt Hill, The Hill Group 408-257-7828, mhill@hillgroup.com • Jim Obermayer, 360-933-1259, jobermayer@salesleadmgmtassn.com