Trade Show Strategy - Don't Leave Town Without It! Part I - Pre-Trade Show Strategy
Tags: Tradeshow
Don't look now, but SEMA and APPEX 2010 are almost upon us. To make the most of the shows, you need to start preparing NOW. A successful trade show experience requires much more than a strong exhibit with good visual elements and current product literature. Developing your strategy early in the year is an excellent way to ensure the right prospects visit your booth, effectively launch a new product, and quantify results after the show.
Any way you look at it, trade shows are a significant investment. Many companies have tightened their marketing budget in response either to the recession, or to changes in their focus. If you do decide to exhibit in a show, the only way to get the full potential return on your investment is to begin with a solid trade show strategy, including buy-in from your sales, marketing and product teams. This will let you take full advantage of opportunities at the event.
Trade Show Strategy RoadMap
Trade shows can positively impact a significant percentage of your annual sales - or they can squander your time and money. Which way they go depends on your strategic planning. Ensure that your company makes intelligent use of the remaining time to develop a strategy that meets your short- and long-term objectives.
An effective trade show strategy begins to take shape as you determine what you want to accomplish and in what order of importance. Follow our simple guidelines, and you could make this year's trade shows your most successful yet, whatever your budget. Here's how:
1. Begin with a brainstorming session to uncover:
2. Develop your plan and be sure to include:
Goals and objectives
Pre-event tactics (advertising, direct marketing, telesales, PR, website)
At-event tactics (promotions, giveaways, product demos)
Post-event tactics (literature mailing, PR, website updates)
3. Decide how you will evaluate the results of your efforts:
Part 1: Pre-Trade Show Strategy
The Front End
A pre-trade show strategy is not complete without forethought on how the show can provide a solid return on investment (ROI). Especially in a down economy, many companies say they cannot afford to exhibit without a realistic idea of the return they will receive in immediate revenue. But it is important to look beyond immediate gains and realize that trade shows are a long-term investment. And while closing deals is part of the overall expectation for ROI, major trade shows should be evaluated on a broader spectrum of potential gain such as:
- Exposure to and acquisition of new prospects
- The opportunity to show appreciation to your most valued customers
- The chance to launch or "soft launch" a new product and receive immediate feedback
- The potential to reach favorable terms and/or reduce costs with new vendors
- Finding new distribution opportunities or new channels to market
- Securing new trade and consumer media coverage from major influencers
- Increase exposure and branding for your product or company
- Get useful feedback regarding customer service, products, distribution, or employees
- Recruit new employees
- Investigate new advertising or sponsorship deals
- Become an influencer on issues that are of importance to your business through presentations, seminars, councils and committees
- Get your staff together in one place for annual training
- Investigate the potential to grow your business through acquisition or a merger
There are many ways that a trade show provides value. As you determine your trade show strategy for 2010, take time to look beyond the immediate need for revenue based on sales, and consider how all trade show activities serve a purpose to make your company more profitable.
This is the first of a three blogs related to trade show preparation. Stay tuned.
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