Tradeshow Myths

While doing some research on lead retrieval systems recently for an upcoming tradeshow, I stumbled upon an article on the “Top Five Tradeshow Myths” and wanted to pass these on to everyone.

I found these to be extremely helpful and informative, especially since I was investigating whether or not a good cost saving idea would be to purchase a barcode scanner (or lead retrieval unit) instead of renting one at each conference at a cost of $400 a pop. I determined that it really depends upon a number of factors, most of them listed in this article under number three.

Top Five Tradeshow Myths

1.) Raffles/"Fish Bowls"

Myth: Having a raffle will gather lots of great leads for the sales team.

Reality: The myth of using raffles and fish bowls to collect business cards as an effective way to collect leads is the top tradeshow myth of all. The only time a raffle is a strategy to consider at a tradeshow is if you are building a mailing list. If you are looking for qualified leads for your sales team to follow up with, this is not the way to go. You will end up with way too many unqualified contacts, making your sales force inefficient by wasting their time on follow-up while missing out on reaching the real prospects quickly.

2.) Promotional Items

Myth: You always need to have promotional items readily available where attendees can pick them up to get them to stop at the booth.

Reality: Once again, if you are looking for qualified leads, this is not the way to go. Having a general promotional item that you hand out to all attendees will drive a lot of traffic to the booth, but will not produce qualified leads nor create specific memories of what your company does and why an attendee should do business with you.

A better approach is to either have the promotional items stored away, or at the back of the booth and only handed out after an attendee has had a conversation with your booth staffer. It can also work to have a higher priced promotional item that only gets handed out after a booth staffer has determined that an attendee is a qualified one.

3.) Lead Retrieval

Myth: Show offered lead retrieval is always the best way to capture leads.

Reality: While there are many good lead retrieval systems offered by many shows, they are not always the best approach for your business to collect the information your sales team needs for follow-up. An important part of the lead capture process is gathering information for your sales team to be used during follow up.

This includes answers to things such as purchasing timeframe, product interest, notes about the conversation the booth staffer had with the attendee, etc.

Next time you are offered a lead retrieval system from the show, ask if you have the ability to customize the information collected. You need to ask attendees questions and have the ability to take notes. If the device does not have this ability, consider other lead retrieval options that you can rent or purchase, such as LeadWizard, NewLeads, CardScan Lead Qualifier or simply print up your own lead form.

4.) Booth Staff

Myth: Our booth staffers don't need training.

Reality: All booth staffers need training, even veteran booth staffers. It is common for companies to learn booth staff skills on the fly at the show and continue with this method year after year. This is far from producing the optimal results your company can achieve at a tradeshow.

Exhibitors who continuously want to get exceptional results from tradeshows provide booth staff training for each show, covering items such as key prospects for that particular event, key VIPs who will come to the booth, new marketing approaches, public relations goals, handling competitors, booth etiquette, engaging, qualifying and closing techniques, as well as role playing. When done right, booth staff training can improve ROI at each show you exhibit.

5.) Networking Events

Myth: Networking events are a waste of time.

Reality: Networking events provide the opportunity to speak with other exhibitors and attendees in a more casual environment than the show floor allows.

This gives you the ability to make deeper and more meaningful connections with them. Now, I'm not saying it is necessary to attend each and every networking event, but it's important to attend the events where you can meet the targeted people you are looking for at the show. A good approach is to look at an event's description and determine which booth staffers would be a good fit for the various events; then split up the networking.

Hopefully this information helps give you a fresh look at the most common tradeshow myths and even gives you ideas on how you can improve the approaches you currently take when exhibiting. And since we could only cover five myths here, keep your eye out for others. Question anything you take for granted and you will find them.

Homework

• Review the myths and re-consider the approaches you take at your show.

• Think of other areas of your exhibit planning that may be myths and consider other ways of carrying out those activities. You may find other myths when you think about the following habits:

- Always renting the same booth space; instead of trying different areas of the exhibit hall that may produce better results.

- Always exhibiting at the same shows; instead of considering changes in the market and evaluating new shows on the market.

- Always renting everything from the show; instead of purchasing items in the show city or shipping them.

- Always shipping to the advance warehouse; instead of shipping directly to show-site and saving money.

- Just showing up at the exhibit; instead of spending time on pre-show marketing planning that can drive even more attendees to the booth

- Thinking that anyone from the company can be a booth staffer; instead of carefully selecting and training the booth staffers you send to the show that will deliver the best results.


Hope you find this information as useful as I did and your follow & comments are appreciated!

Today's Quote: "Creativity is intelligence having fun." - Albert Einstein

Are Your Sales Executives Looking for a Marketing Stimulus in these Challenging Times?

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Objective: Develop new strategies to assist sales in converting marketing leads from “prospects” to “customers”.

Solution: Help uncover “gold” in potential and existing customer data to gain new revenue by adding “customer knowledge” strategies to your marketing plans.

Sales departments are always looking to their internal marketing counterparts to help in getting new leads so that they can work to turn them into successful opportunities. It is not enough to just provide names and contact information of someone who dropped their business card into a bowl at an exhibit booth to get a pen. Successful marketing strategies must also focus on providing contacts that would be viable customers and would include all of these targeted elements: industry, location, company size/revenue, department, title, job function, current technology utilized (if appropriate), and specific future growth plans (if available). This information not only empowers sales with the ability to speak to specific issues, but also arms them with knowledge that gives the potential customer that your sales organization has really done their homework and knows what challenges they are experiencing.

An example of how marketing could add more value to sales, is by providing more research data on the contact information received from participation in tradeshows, executive events, online ads, print ads, direct mail campaigns, email responses, webcasts, and all facets of executed marketing plans. Researching a target company or industry through reading their press releases,

Several years ago, when I was on the sales side of my organization, I was having a difficult time securing a meeting with a top level executive at a company I was targeting for a solution sale. I found out that he was going to be at an industry conference that I was also planning on attending. So, a few weeks before the conference, I decided to read as much material as I could find on his company, department, and his background. Because he was a high-level executive, I was able to find the online press release that announced his appointment to that position. That led to a summary of his background and information on the role and company he had worked for prior to his current position. Through that information, I researched the company he had moved from, in order to learn more about what his focus was there and the challenges and successes he experienced. After finding out as much about this executive and organization as I could, I felt confident that my company could help him achieve his departmental goals, and was hoping I would get a chance to speak with him at the conference we were both attending.

As it turned out, the first night of the conference was a networking cocktail party. Even though we had never met or spoken, I knew what the executive looked like since there had been a photo of him online with the announcement of his promotion. I was able to spot him in the crowd and introduced myself. We talked about the company he was at previously, his new role and responsibilities and how my company could partner with his to help him meet his goals and address some of the data challenges he was trying to streamline. He was so surprised and happy that I knew so much about what he had been dealing with in the past and the challenges that he was currently facing and that he could actually talk with someone that had an idea of what his department was going through. That conversation led to a formal meeting with a team of professionals from both of our companies and ultimately a strategic value assessment. Yes, a successful solution sale was made and that company is very happy, but none of that could have happened had I not done my research and could talk intelligently about his company's situation.

This demonstrates that by actually taking the time to delve into what’s going on in a specific industry, company, department, etc., you can provide invaluable insight into what that organization is facing and what they are trying to achieve. Now that I am on my company's marketing side I know that by doing some research and providing background information to your sales team, you will give them the advantage they need in order to help secure a conversation with a prospect or current customer. Knowing details of what an organization is focusing on or the challenges they are currently dealing with, can be the catalyst to a discussion on how your company’s solutions can assist in adding value to their bottom line. In the end, everyone wins!


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“There can be no happiness if the things we believe in are different from the things we do.”
Freya Stark

Getting the most leads for your Marketing Dollars

Are sponsorships of virtual events providing the same quality leads as onsite conferences?

A few weeks ago I was in Orlando for the SAP Manufacturing Conference and was expecting about the same crowd of about 800 that had been there the year before. I figured that there may be a decrease, considering the tough economic times we are experiencing and the fact that many companies are scrutinizing their travel budgets more these days. However, I was a bit surprised to see only about half or so at this year’s event.

For the past few years there has always been a line of people at our exhibit area, wanting to speak to representatives from my company, but this year, because of the smaller number of attendees, there were times when no one was there. This is totally unusual, since we provide the best analytical capabilities available and for more than 30 years, there hasn’t been another business intelligence organization in existence that can show the proven return on investment that we have been able to demonstrate.

So, it is no wonder that I asked myself “how are we going to be able to reach out to our customers and prospects if they are going to these external events?” The answer was provided to me when one of the conference organizers told me that they had decided to go “virtual” next year. She said that because more and more executives are unable to justify the cost of attending these types of events, they had decided to do everything online and was wondering if we would still want to sponsor this event again next year. Of course, she said, all of the presentations and sessions would be available “on demand” to the registrants and there would be a virtual exhibit hall where my company could have a booth. The online attendees would just click on my booth and all of our company information and sales material would be available for them to download. If they wanted more information, all they would have to do is complete an online form and it would be passed to us for follow up. They were even thinking of offering all sponsors and exhibitors specific times to have a company representative available to the attendees so they could have a live online chat and answer any questions or provide more information.

The capability to virtualize events has been around for several years, but the concept on conferences being run solely on the internet is just beginning to take off. By eliminating the attendees’ travel costs and the organizers’ logistics expenses, virtual conferences are gaining more buy in as a practical way to get the latest insights on specific topics that are at the forefront for today’s business executives.

Exhibitors use specially designed software to build their virtual booths to showcase products and services, present live presentations and product demos, and distribute literature. By browsing the booths, attendees can view demos, pick up literature to deposit in their virtual briefcases and chat with sales reps in real time.

What could be more appealing? The costs are minimal to the attendees, as long as they have a computer and a fast internet connection, they can log on whenever they want to and choose the information they want to read about. Online chats with the speakers and/or exhibiting companies can provide real time answers to their questions. No lost productive time due to travel. No limit on the number of employees you can use to staff your booth or "send to the show." No need to limit the duration of the show to just a few days. No geographical boundaries (assuming you have a way to staff the odd hours). No environmental concerns. No panic because your staff flew to Chicago — but your booth materials ended up in San Diego.

However, some savvy marketing executives are asking themselves right now “what about the downsides”? The most obvious one is that the technology has never quite delivered a user experience that's a viable substitute for physical presence. You lose that face-to-face spontaneous networking experience. Also, much of the value attendees derive from a live event is the unplanned moments. Like those times when you run into someone you know but haven’t seen in a long time or someone that you knew was going to be there and wanted to run into. Or, decide to hear a speaker or visit a booth at the last minute because someone you just met recommended it. You can only have experiences like these at live events. It would be a little difficult to accidently meet someone you haven’t seen in a long time while you’re sitting in your office watching your computer monitor.

The bottom line is that the virtual conference isn’t just an hour-long panel discussion, but can be an all-encompassing event which is able to cover a multitude of facets on a specific topic.

So, virtual conferences may be a very good option to consider in these times when travel budgets are being examined more closely than ever before. Let’s face it, executives still have to keep up with developing new ways to streamline their organizations, stay abreast of industry’s thought leadership and be a part of knowledge sharing sessions. Progress and profits shouldn’t be sacrificed during tough times, and the drive to learn more about how to achieve both must be made available to everyone.


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Today's Thought:“Success is not the result of spontaneous combustion. You must set yourself on fire.”
– Reggie Leach

Blasting Away! Email Blasts that Hit Their Targets

One of the more popular marketing techniques in recent years is the email blast. The “blast” enables you to send out mass emails to potential customers and can be an effective tool and benefit both the company and the customer. If you develop the right program to target the right audience, email blasts can be extremely successful and economical. For example, a successful email blast allows you the opportunity to reach hundreds of contacts at a single time. Of course, not all email blasts are as effective as others.

First, you must develop professional copy – keep in mind that you are able to contact a good number of prospective clients with a targeted blast, but you can lose them all if your content isn't written well and does not touch on what’s at the top of their agenda. The trick is to hook the reader in the first line of the email. Hooking them with the subject line is even better because it ensures that your email will be opened rather than clicked into their deleted files bin. Carefully selected words and a carefully crafted email can make or break your blast. As long as you are spending the time and the money to send out an email blast, it is important that you ensure the quality of the content. And, don’t forget to include your contact information.

Make sure you provide links and contact information - you don't just want people to read your email and move on. You want them to act on it and want more. One of the great advantages of emails is that once you have a person's attention you can direct them right onto your web page and into your virtual space. By providing a link to your website in the email, as well as the opportunity to learn more, you are giving them something for their time. In turn, you have the benefit of gauging their interest, then the ability to follow up and reach out to them to provide even more assistance. Resulting in not only reaching your prospective customer, but actually having the ability to contact them and set up a face-to-face meeting.

If you’re a marketer, you know how important first impressions are. Work on making a great first impression by providing potential clients with information that focuses on areas that they would find of strategic value. If you’ve done your research, you’ll know by your targeted titles within the focused industry, what they are facing and how you can help. So, make them know you have what they need.

Target your demographic - by considering the options available through the various email blast programs, you will be able to find a program that will enable you to reach your target audience. You should find a program that offers demographic options that are as specific as possible. Check to see how often the email lists are updated and try to find lists that are updated as often as once a month. Also, consider what audiences you will be able to target. Email blast lists that are obtained through clicks on special interest websites will be most valuable to you if you are offering a special interest commodity. Make sure you are able to match your email blast to your target audience.

Well written, targeted emails will not reach the intended audience if they end up zapped out of cyberspace by spam filters. Getting the email into your potential customer's inboxes is the first step in an effective email blast. But, what happens when the fine line between requested marketing emails and unsolicited messages (SPAM) is crossed? The consequences can lead to upset customers and in extreme cases, lawsuits. So, make sure you adhere to the spam laws and provide an “opt out” option at the bottom of your copy.

Make sure you also consider the day of the week you do your blast. One final thing to consider when sending out an email blast is the day of the week that the email will reach your customer's inboxes. There are good statistics that show more emails get opened on Sunday than any other day of the week. Surprisingly, Saturday is one of the days of the week that emails are rarely opened. If possible, aim for a Sunday or a Monday delivery of your blast.

Good Blasting!
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This Weeks' Thought: "“Every great mistake has a halfway moment, a split second when it can be recalled and perhaps remedied.” - Pearl S Buck

Social Media Protocol: Utilizing Social Media Properly to Gain the Most Value from it.

Today I participated in a 90-minute online presentation sponsored by MarketingProfs.com titled Social Graces: Strategies to Take Your Social Media Marketing Beyond One-Off Tactics.

The program featured social media maven Greg Verdino who has seen first-hand how companies succeed and fail in this space. Greg thinks everyone should “take your social media activities from me-too tactics to key components of your marketing advantage.”

Here’s a brief summary I put together for you as a result of my participation -

Only the facts, please . . .

• It was stated that by 2012, online advertising would take up to 18% of an organizations marketing budget and Social Media would be allocated approximately 10% of that money.
• With regards to traditional advertising: “71% of consumers can’t remember the product or brand name after watching an ad.”
• Basically, we all know that ads are the guests at a cocktail party we try to avoid. (Who wants to be sold something that doesn’t interest them?)

We should look at Social Media consisting of three principles, which all involve more than one person to accomplish -

1. Community
2. Conversation
3. Partnership

There are new rules for communication that involve the key ‘buzz words’ we hear every day, but that are accurate. Things like responsiveness, authenticity, support community, humanization and partnership are just a few of the core effects that we must take into consideration when engaging in social media.

Five New Ways of Thinking

Harness the Power of Small Ideas (or Planting seeds for your brands future)

• No magic beans – Try a variety of things even though you may not succeed. They say “if you’re not failing, you’re not working”.
  

Connect the Dots

• 1, 2, 3, or more campaigns may be good, but if not integrated, they aren’t accomplishing the best results.
• Integrated Social Media means demonstrating, empowering, and involving the audience.

Every Touch is a Conversation Starter . . . so try not to screw it up!

• The world has changed, or “the square peg meets the round hole”
• Meaning: 0.2 marketing for a 2.0 world – or Doing the same old stuff and not realizing your target audience expect different things.

Amplify, Extend, & Enhance

• Using conversation – think about how to evolve conversation as a pathway to community.
• Social Media can be a megaphone in action, so be sure and recognize the power of course correction; you CAN turn haters into lovers.
• There is power buzzing around. Example: Dell lies. Dell sucks. – When Jeff Jarvis started blogging about his experience with Dell, it evolved into a reveloution against the electronics giant. Dell had no choice but to address the firestorm so they began an open online forum about consumer’s experiences and provided them a site to provide opinions and rate their products. Result: Dell now uses these sources to help build and improve product development, turning a negative into a positive.

Your ends should match your socks

• The public looks to us to provide value not just constantly distribute our messages to their blackberries or RSS feeds.
• You can learn a lot from others, but don’t make the mistake of duplicating the online efforts of another simply because they proved successful. Be innovative, create and test your own social media campaign.
• Remember: an online social media strategy that worked for one organization may not work for you.

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This Weeks' Thought: “Faith is taking the first step even when you don’t see the whole staircase.” Martin Luther King, Jr.

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Social Media or Social Nuisance?

When I was asked what I thought about utilizing blogs, YouTube, Facebook, Linkedin, and other forms of social media that now exist, my first response was that it was an unnecessary waste of time. I really didn't see the business or personal value they could bring. I viewed them rather as vehicles that encouraged vague dialogues or touchpoints with strangers who may or may not have any knowledge that I really wanted or needed. Yes, I use to think that any form of social media was more of a nuisance to the public, another form of spamming, and more a hindrance to garnering intelligence than beneficial to any individual or organization.

That is, until I decided to dedicate some time to researching this topic. Since then, I have come to the conclusion that social media can be a very valuable form of information sharing. For example, did you know that, according to "Ten Ways to Use Linkedin" by Guy Kawaski "All 500 of the Fortune 500 are represented in LinkedIn. In fact, 499 of them are represented by director-level and above employees." I believe being actively involved in social media sites can be advantegeous, but it is up to the reader and organization involved in social media to filter out the value. It's also a responsibility of the writer or contributor of the information to streamline the message that they are trying to promote so that it is presented in a balanced and explicable manner. I believe that much can be learned from social media if it is used as a tool for knowledge sharing and as an open forum for the continuous development of both new ideas and the refinement of old concepts. It should be pointed out, however, that the information that is out here in cyberspace should not be taken as truth or fact just because someone who says they are an expert put it on the web.

If I have learned anything from studying this topic, it is that if you think you have found some good information or have discovered something new through social media, that you didn’t know before, do your homework. Once researched thoroughly, it may be that what you have read or learned is in fact, good information. Or it may be that someone is just expressing their opinion on a topic and presenting it as fact based when in reality it is unsubstantiated information.

A great deal can be gained from getting involved in social media and new information and ideas can be acquired each time you take the time to read and open yourself up to sharing your experiences. Value is a distinct possibility, if you use this type of interaction to your advantage and as a result, the collaboration and added intelligence can be the reward. You can also do research to gauge the health of a specific company or industry, enhance a business relationship or create a new partnership.

There are many different social media software applications, ones that focus on communication, collaboration, or entertainment and I will be delving into different examples on my blog in the future. I will examine such sites as Facebook, Linkedin, Twitter, and more, to provide an overview of each and to help you scrutinize their differences and learn how to gain the most out of each application. After all, why bother taking the time to visit and utilize these sites, if you’re not getting the most value out of them?

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This Weeks' Thought: "Treat people as if they were what they ought to be and you will help them become what they are capable of becoming." Johann Wolfgang Von Goethe

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