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Introduction to Trade Show Marketing

Introduction to Trade Show Marketing. Where the Marketing Dollars Go. Public Relations: 6.4%. Direct Mail: 9.0%. Telemarketing: 5.2%. Trade Publication/Journal Advertising: 11.5%. Exhibitions: 13.9%. Direct Sales/Field Sales: 47.2%.

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Introduction to Trade Show Marketing

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  1. Introduction to Trade Show Marketing

  2. Where the Marketing Dollars Go Public Relations: 6.4% Direct Mail: 9.0% Telemarketing: 5.2% Trade Publication/Journal Advertising: 11.5% Exhibitions: 13.9% Direct Sales/Field Sales: 47.2% Source: Center for Exhibition Industry Research “The Role of Exhibitions in the Marketing Mix”

  3. Why Companies Exhibit • Generate qualified sales leads • Generate sales • Intensify awareness of company or products • Introduce a new product or service • Create a preference for products and company • Find new distributors for their goods • Provide dealer support • Test prototypes and judge reactions to new products • Find new applications for existing goods • Recruit sales representatives

  4. Types of Shows Regional vs.National vs.Global Regional: California Dental Association National: National Autobody Congress Global: Hanover

  5. Types of Shows Tradevs.Consumer: Wholesale (or to industrial users) vs. retail. Industrial: Food Marketing Institute Consumer: Boat Shows

  6. Categories of Trade Shows 48% Trade Shows 36% Combination Shows 11% Consumer Shows

  7. Comparison of Average Size Consumer Shows 103,841 Net Sq. Feet 238 Exhibitors 47,522 Attendees Trade Shows 119,849 Net Sq. Feet 401 Exhibitors 10,385 Attendees

  8. Types of Shows Association vs.Independent Association Shows sponsored by a professional association, and often accompanied by a professional development conference. For example, California Dental Association. Independent Shows sponsored by a for-profit company, may or may not have a professional development conference. For example, American Contract Manufacturers’ Show

  9. Types of Shows Verticalvs.Horizontal: One industry or profession versus many. Vertical: Central Texas Farm and Ranch Show Horizontal: Heart of Texas Business Expo

  10. Leading Trade Shows in the U.S. by Industry Classification Medical & Health Care Home Furnishings & Interior Design Computer & Computer Applications Education Sporting Goods & Recreation Building & Construction Agriculture & Farming Apparel Industrial Boats Number of Shows 468 277 275 263 253 233 177 153 150 149

  11. Top 10 Show Sites 1. Atlanta 2. Chicago 3. Orlando (tie) 4. Toronto (tie) 5. New York City 6. Dallas 7. Las Vegas 8. Washington, D.C. 9. San Francisco 10. New Orleans Number of Shows City 141 140 128 128 124 113 109 89 83 79

  12. Who Goes To Shows? Previous First Time Show Job Function Attendees, % Attendees, % Top Management 15 25 Middle Management 11 9 Engineer, R & D 21 20 Production 4 2 Sales & Marketing 11 11 Purchasing 3 2 Data Processing 7 7 Professional 9 10 Consultant 1 3 Educator 1 1 All Others 12 8 Undefined 5 2 Source: Center for Exhibition Industry Research “Power of Trade Shows”

  13. Role in Buying 100 90 80 70 60 50 40 30 20 10 0 85 78 Percentage 55 55 40 35 29 29 22 15 Net Buying Final Specify Recommend No Influence Say Supplier Role 1st Time Attendees Previous Attendees Source: Center for Exhibition Industry Research “Power of Trade Shows”

  14. “Extremely Useful” Sources of Purchasing Information(Total Respondents) TRADE SHOWS 91% Articles in Trade Publications Friends or Business Associates Directories & Catalogs Manufacturer Reps Ads in Trade Publications On-Site Visits Conference & Seminars User Groups In-House Purchase Dept. Outside Consultants Retail Sales Staff Newspapers Other Source: Center for Exhibition Industry Research “Power of Trade Shows”

  15. Decision Makers’ Perceptions of Trade Shows Save my company time and money by bringing many vendors under one roof at the same time. Bring me up-to-date on the latest trends and developments in my industry. Allow me to be very productive in a concentrated amount of time. Provide an invaluable opportunity to discuss problems/ideas with professionals in my industry. Help me to decide what products/services to buy. Are relied on by my company to keep up on important trends and new developments in the industry. 85% 83% 82% 80% 79% 70% Source: Center for Exhibition Industry Research “Power of Trade Shows”

  16. Questions to Ask Yourself • What do you want to achieve by exhibiting? • Who is your target audience? • Which industries cater to your target audience? • At which shows do your major competitors exhibit? • Which shows do your customers attend? • Which shows do your suppliers attend? • Which are your major industry shows? • What is your budget?

  17. Companies Involved in Trade Shows Facility/ Trade Association or Convention & Show Organizer Visitor’s Bureau Show Decorator Co. Member/Attendee Exhibitor Drayage Co. Shipping Co. Exhibit Builder Audio-Visual Supplier Specialty Advertising Co. Advertising Agency

  18. Where the Exhibit Dollars Go Space Rental: 25% Specialty Advertising: 3% Specialty Personnel: 4% Pre-Show Promotion: 4% Miscellaneous: 6% Refurbishing: 10% Transportation: 11% Show Services: 22% Construction: 15% Source: Exhibit Surveys, Inc.

  19. How Your Customers Hear About the Show Other Radio Newspaper TV Word of Mouth Exhibitor Invitation Article or Editorial Trade Publication Ad Direct Mail Percentage Previous Attendees 1st Time Attendees Source: Center for Exhibition Industry Research “Power of Trade Shows”

  20. Trade Shows & the Marketing Mix

  21. TRADE SHOWS ARE A COMPLETE MARKETING TOOL! MARKETING MIX ELEMENT SHOWS PROVIDE: PRODUCT New product ideas Buyer feedback on new products Access to competitive product intros PRICE Access to competitive pricing info. Buyer reaction to pricing programs PLACE A place to sell PROMOTION Awareness of company and/or product Communication of marketing message Access to media

  22. WHAT HAPPENS AT THE SHOW? • Seminars - on trends in the industry, new technologies, legal issues, and professional development • Exhibits - of companies’ new products • Press Conferences - called by companies to introduce new products, new marketing programs, or new personnel • Hospitality Functions - from breakfast to a night on the town, companies entertain clients; trade associations sponsor hospitality functions for their members, too

  23. WHAT HAPPENS AT THE BOOTH? • Salespeople meet potential prospects • Current customers can see what’s new as well as resolve any current issues • Executives can meet with potential distributors, suppliers, or partners • Members of the press see new products, interview staff • Competitors gather information from each other

  24. SALES VERSUS PROMOTION GOALS SALES GOALSPROMOTION GOALS Generate sales Intensify awareness of company or products Generate qualified leads Create awareness of a new product, service, or new marketing program Find new distributors Create a preference for products or company Demonstrate product Change attitudes toward company/products (make sales presentation) Provide dealer support

  25. WHEN ARE SALES GOALS IMPORTANT? • the company is small • technological change is rapid • the company’s strategy is to be a product leader/innovator • product development times are short • buying or ownership cycles are short • companies compete against many competitors

  26. WHEN ARE PROMOTION GOALS IMPORTANT? • Trying to change corporate image held by market • Don’t have a corporate image • Compete in a market composed of a few large competitors and many small competitors • Serve a market composed of a few large customers • Ownership cycle is long • Products are customized • Follow a premium price strategy

  27. Implementing a Trade Show Program

  28. ELEMENTS OF TRADE SHOW STRATEGY • MARKETING OBJECTIVES • SHOW OBJECTIVES • SHOW SELECTION • THEME • BOOTH DESIGN • STAFFING • PRE-SHOW PROMOTION • POST-SHOW FOLLOW-UP • EVALUATION SYSTEM

  29. Setting Show Goals • What is our marketing message? • How are we communicating that message in other media? • Where are visitors to our booth in their buying process? • What do they want to achieve at the show? • What actions do we want potential buyers to take as a result of visiting our booth? • What image of our company and products do we want buyers to have after visiting with us?

  30. Three Stage Process Model of Trade Show Performance Exhibition Attendees Target Attendees Target Attendees Visiting Booth Target Visitors Contacted Target Contacts Converted to Leads Stage 1: EFF1 = Attraction Efficiency Stage 2: EFF2 = Contact Efficiency Stage 3: EFF3 = Conversion Efficiency

  31. Success Factors Attraction Efficiency: Proportion of target audience that visits the booth. • Larger booths attract higher percentage. • Pre-show & at-show promo leads to higher percentage hospitality suites more effective across industry types effectiveness of various methods varies by industry size of booth staff important

  32. Success Factors Conversion Efficiency: Visitors turned in to qualified leads. function of staff training pre-show promo quality of give-aways

  33. Factors Separating Successful from Unsuccessful Exhibitors • Successful exhibitors set quantifiable, written objectives. • Successful exhibitors depend more on trade shows. • Successful exhibitors more likely to integrate shows with trade advertising, direct mail and PR efforts. • No difference in integration of field sales force into show.

  34. Factors Used in Choosing Shows 1. Attendance/Lead Performance 2. Marketing Synergy 3. Participation Costs 4. Staffing Capability 5. Show Environment

  35. WHY USE A THEME? • UNIVERSAL COMMUNICATION • DIFFERENT • FUN • GIVE A COMPANY “HEART” • PROVIDE A FOLLOW-UP HOOK • FIT ALL BUDGETS

  36. CRITICAL ELEMENTS OF BOOTH DESIGN LOGISTICS ISSUES • FLEXIBILITY • WEIGHT • EASE OF INSTALLATION AND DISMANTLE • OWN OR RENT? FUNCTIONALITY ISSUES • FIT WITH OBJECTIVES • ATTENTION-GETTING ABILITY • TRAFFIC FLOW • PRIVATE PLACES

  37. Calculating Optimal Booth Size Minimum Booth Space = Attendance X Product Interest % X AIF X 50 Show Hours X Salesperson Rate Attendance Total attendance less exhibitor personnel, students, and spouses Product Interest Projected % of attendees interested in seeing your product categories AIF (Audience Interest Factor) % of audience that tend to visit many exhibits. Show hours Total number of hours the show is open Salesperson Rate # of visitors a salesperson can talk to in an hour Add space required for products, storage & conference rooms to minimum space calculated using the formula.

  38. GRAPHICS ISSUES • Eye level usually blocked • Industrial show – feature company name • Consumer show – feature product name • MUST grab attention

  39. Booth Staffing Visitor ProfileStaff Requirement Create a New Direction Technical & Upper Management Know Problem - Don’t Know Solution Technical Know Solution – Shopping Vendors Salespeople & Technical Existing Customers Upper Management & Technical Press Upper Management & PR Staff

  40. POST-SHOW FOLLOW-UP GRADE THE QUALITY OF THE LEAD HOT TO BUY NOW - SALESPERSON CALL MAY BUY SOON – TELEMARKETER CALL MAY BUY IN THE NEXT YEAR – DIRECT MAIL WILL NEVER BUY – NO FOLLOW-UP

  41. EVALUATION OF SUCCESS • ANECDOTES • NUMBER OF LEADS • TRAFFIC • RETURN ON INVESTMENT • AUDIENCE MEMORABILITY • NUMBER OF PRESS PRESENT • POST-SHOW PRESS PLACEMENTS

  42. Average Cost of Closing a Sale without Developing Leads at Trade Shows Average Cost of Sales Calls $ 357 Avg. # of calls to close sale x 3.7 Cost of closing as in field $ 1321

  43. Avg. Cost of Closing a Sale with Leads Developed at Trade Shows Average Cost of Sales Calls $ 357 Avg. # of calls to close sale with trade show leads 0.8 Avg. cost per visitor reached $ 300 Additional cost of field sales calls ($ 357 * 0.8) $ 286 Cost of closing with Trade Show leads $ 586 Cost of closing without Trade Show leads $1321 Average Amount Saved per Closed Sale $ 735

  44. Why Customers Don’t Buy From Exhibitors 42% 28% 20% 16% No one available to assist Didn’t trust salesperson No follow up Salesperson didn’t understand needs

  45. Amount of Time a Visitor Will Wait for a Rep in a Booth 1 minute 41% 5 minutes 14% 3 minutes 28% Will not wait 6% 30 seconds 11%

  46. What Should A Booth Staffer Do? • Greet Quickly • Determine Interest • Pass Along to Appropriate Party or Qualify as Prospect • Demonstrate Product if Appropriate • Close for appropriate follow-up

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