Friday, May 6, 2016

Trade Show Metrics

I like metrics, so when I read this I was delighted:
Meeting with a prospect at a tradeshow costs an average of $142. Meeting that same prospect at a his or her office costs $259. Social media and online channels have overtaken more traditional face-to-face meetings, but tradeshows can still pay off for those willing to work to get the most out of their investment.
These are averages and you can always beat them.  My metric for trade show participation is the show must generate in sales ten times the cost of the event. A $10,000 show cost must gain $100,000 in orders at the show.  If not, you must beef up the more effective (if slower) marketing efforts, before going to shows (or lower costs of the show by JV a booth, etc.)

The assertion rearding social media overtaking "more tradtiional" is unwarranted. Cite the studies.  CErtainly far more people waste time on facebook, etc than sell then ever before, but it is no replacement for results.  People who have Smart Phones have no idea what they are missing.

(If the "costs $259" citation link does not work, here it is...   )

This paragraph is problematic, a false dilemma...
"If I find're not a qualified person for my booth, I don't say, 'All right, Kerry, you're not qualified, you're not going to be interested in our product, see you later,' because you'll have a bad negative experience with me, and you'll talk to someone who's qualified later and say, 'You shouldn't talk to company ABC, they were rude to me.'"
The choice is not keep talking to someone who is wasting both of your time, the choice is either end the conversation or waste time.  You can end the conversation nicely or not, and nicely is to hand the person the LCL MOQ FOB and welcome them to come back when they can place an order.

I have a .pdf with a decision tree on when to attend a trade show to sell, and in what capacity at what level.  Feel free to email me for a copy.

Feel free to forward this by email to three of your friends.