Making Trade Shows Interesting

Attending trade shows can be an effort in futility, imagine being a presenter at a trade show. Sometimes you need more than just a trade show display...

One of the hard parts about running a conference is figuring out a reasonable strategy for the trade show. Some conferences don’t have a trade show at all; if you can get the attendees to pay all the costs associated with an event, then that’s a worthwhile strategy.

From 2001 until late last year there was such a downturn in the high tech industry that vendors were having a hard time justifying the costs for booths and booth staff. The XML conference certainly noticed the downturn. It wasn’t all about the money, of course. As Tim said, a web site can function as a booth and doesn’t pack up and go home after a couple of days.

Except for, everyone now has a web site, many complete with blogs and RSS feeds and Flash demos of happy customers using the product to do marvellous things. If you know the names of the companies whose products you’re interested in, or the standard name of the type of product you’re looking for (so you can at least google for it), then you’re probably well served by the web. Always assuming that what you’re looking for is the slick, polished, demo information that most web sites specialise in. If you don’t know what types of products you might need, or you don’t know the names of relevant companies, then you have a harder time trying to find it. Or maybe you’re just suspicious of whether the products shown in the slick demos really can solve the issues you have.

I’m reminded of the scientific research community. When I was doing my PhD, you either had time to keep up with the related literature, or you had time to do your own research. You didn’t have time to do both. The way you found out about stuff that actually was relevant to what you were working on was to go to a conference or two a year, listen to the papers, and talk to people. Merely publishing your research in a recognised journal was not enough; you had to take the research to where they were going to be. I think we’re getting close to this with web sites, where one of the only ways for vendors who aren’t household names to be found is to go to a trade show and make it worthwhile for attendees to stop by their booths.

So what makes it worthwhile for attendees to stop by a booth? Part of the answer is for what they can’t get off the web. Eric Sink points out, amongst a lot of other interesting comments, that the big difference is face time. Time to put companies and products into perspective, compare them to the competition, maybe talk to some real developers. Time to see whether they can trust the vendor to fulfill the promises that vendors always make about ship dates, feature sets, and standards-compliance. And time to find out about that new style of product that they hadn’t known even existed before this week.

At the XML conference we’re doing our bit to help attendees get an experience they can’t get on the web. We’re emphasizing interoperability demos, and comparative product demos. We’re getting new vendors on to the show floor, and a lot of vendors this year are planning product launches at the conference. It looks like it’s going to be a good complement to the technical program, showing attendees another side to the innovations going on in XML-land.

Lauren Wood

Trade Show Display Rentals: A Good Idea!

Trade shows can be a great way to win new business, make new contacts and unveil new products to the marketplace. Exhibiting at a trade show means you are going to need to a trade show display to attract attention and showcase your company and products. The benefits of renting a trade show display, instead of purchasing one, can be numerous for small businesses or start-ups attending their first trade show and large businesses looking to increase interest at their next show. Below are some of the reasons why renting a trade show display is a good idea.

Convenience
The convenience that provides, as opposed to buying one, can be one of the most important factors in one’s decision to rent. Renting a booth for your first few trade shows will allow you to get a feel for these shows and how much money you may be able to make by attending them. You don’t want to make a big investment in a trade show display only to find out that the trade show scene is not for you. Using a rental gives you the impact of having a customized trade show display and the convenience of not having to commit to a specific format.

Flexibility
Renting a trade show display also offers flexibility. Renting allows you to customize your display for every trade show that you attend. If you used a format that you did not care for, then for the next trade show choose a different format – the only thing you need to do is purchase the graphic panels for the new trade show display configuration.

Display rental also gives you the opportunity to experiment with the size of your trade show booth without worrying about making a big investment in a booth that may not suit your needs from one trade show to the next. You can also try out the different types of displays available, such as a pop-up displays, to see which one is easiest for you to set up and break down.

Basically, renting allows you to experiment with many different aspects of your trade show display, so that you can get a feel of what is right for you. Maybe, once you know what you want, you will then want to buy a trade show display of your own or maybe you will enjoy the flexibility of renting so much that you will continue with that option. Either way, renting, instead of making a big initial investment, will allow you to know for sure where your preferences lie.

Additional Options
Renting a trade show display may be the way to go if you are looking to augment your current trade show format. With add-ons such as literature racks and banner stands, a trade show booth can offer more visuals than just what is on the display itself. If you have a large booth space and you want to manage traffic or provide additional information, renting a display is a good choice. This can help you expand your trade show booth to create a larger, more dynamic selling environment. Plus, if you are rolling-out a new product and you don’t want to redo your main display you can feature the product on a rental display.

Cost-Effectiveness
If you are promoting a small business or start-up, then renting may be the best option for you since you may only attend a few shows a year. If you were to buy, the investment you would make would largely eat into whatever profits you earn for the year from the few shows that you do attend. Until you attend trade shows on a more regular basis, renting a trade show booth may be the most cost-effective way to go.

Considering all of these great benefits, it is easy to see why one would want to rent a trade show display, rather than purchasing one themselves. Whether you are an individual, small business, or a large company, renting a trade show display can offer you advantages that you would not otherwise have with your own display.

Trade Show Displays and Budgets

Start planning well ahead. You already know this, right? Keep yourself as organized as possible right from the beginning -- even before you book your space. You know how carefully today's brides plan their weddings. Months, even years ahead, they start thinking about the church, the reception, the dresses, the flowers, the cake. And of course, the cost. Well, you're the bride. Grab your planning book and start writing down everything you must do to get yourself ready for a successful trade show season -- next year's.

Even before you decide to go into a show or two, you should have a hard look at the costs and expected returns. This is why you create a trade show budget. Whether you admit it or not, everything has a cost, and trade shows are no exception. Remember that your objective is to make sales, or at least generate opportunities to make sales. So you have to view your costs in that light. Everything should be done with an eye on its potential return.

How to Start your Trade Show Budget Planning

The normal starting point for your campaign is the trade show budget. If you work from a budget, you have an outside chance of keeping your costs under control. Of course there is a certain amount of hocus pocus involved in budgeting for things like trade show marketing -- especially if you've never seriously done it before and have no track record to go on. Still, you should give it your best shot. This is not rocket science, and any research or analysis you do will be better than just "winging it". Try using a "brainstorming" process similar to the following.

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First, ask yourself some BIG questions:

Question 1. Do I really believe I can recover my costs within a short enough period of time to make it "profitable" (make more than it costs)?

Answer 1. Like most promotion and advertising, until you've done it, you have little idea how successful it will be. First you will have to summarize all the costs, and then try to figure out how many sales you're likely to get from this sort of exposure.

Question 2. Do I have any idea which trade shows are more likely to be "profitable".

Answer 2. There are trade show directories and reports that can tell you about industry-specific shows. Usually they will tell you the number of attendees, and hopefully something about their buying habits. Find the relevant directories, and figure out some method of choosing between shows.

Question 3. Are there obvious ways to enhance my "Conversion Rate" -- the number of attendees who buy from me?

Answer 3. Yes, of course. Having an attractive, eye-catching trade show display is a good start. Getting a good location on the floor will help. Setting up your booth properly will help you "process" the attendees more efficiently. Having a lead-gathering system will help you do more profitable follow up. Giving out memorable hand-outs will enhance your chances of being recognized later on. Training your booth staff could make an important difference.

Ask yourself a few more questions like this to get yourself in the right frame of mind. Then you'll be ready to start preparing your trade show budget.

Let the Planning Begin - Selecting Appropriate Shows

Begin by assembling the following information (and anything else that seems relevant as you go along):

Find a trade show directory for your industry (online is the best source), or check out the major trade show venues or exhibition companies. They will put you on the right track very quickly.

Select the 10 most promising looking shows based on your "gut feeling" about their potential for your campaign.

Make a chart and list the five or six most relevant bits of information for each of your most promising venues:

- Location
- Date
- Number of attendees
- Geographic area served
- Target market (who will be attending)

Calculate Your Costs for Each Show

Now add some columns to your chart where you can list the costs that are specific to each show:

- Booth space cost
- Other space-related costs
- Travel costs to and from the show
- Things to rent or buy at the show (tables, power, etc.)
- Accommodation costs for booth staff
- Shipping costs for booth display(s) and materials
- Vehicle rentals required

Campaign Costs when Entering a Number of Shows

Now think about the actual "sales process" and make a list of what you will need in order to have a successful trade show experience. These will usually be things that will be used for several shows, so think of them as "campaign costs" that will be amortized over a number shows:

- Display booth design and production
- Product literature
- Hand outs
- Staff training
- Show promotion (free passes to clients, etc.)

If you estimate that your campaign costs will service 4 shows, then take these costs and add 25% of the total campaign costs to the cost of each show. That should give you a realistic estimate of the total cost of each show:

Cost to to Attend Show = Specific Show Costs + pro-rated Campaign Costs

Calculating Your Break Even Point

Now that you have a fairly clear idea of your costs, it should be possible to arrive at an accurate estimate of your Break Even Point for each show -- the number of sales you have to make to cover your costs.

For instance, let's say you calculate that your costs for Show A are $3,000 (including a pro-rated amount for the one-time costs such as the booth). And let's say you can relatively easily calculate your "gross profit" on each sale (gross sale amount minus out-of-pocket). For example, in the case of the wedding photographer let's say his gross profit margin is 50%, and the average sale is $1,000. That would give him a Gross Profit of $500 per sale.

In order to recover his $3,000 he will have to get 6 sales (6 x $500 Gross Profit on each sale)

Factors Affecting Conversion Rate

What are his chances of getting 6 sales from a specific show?

Well that depends. If our photographer goes to a wedding show with 1000 warm and willing blushing-brides-to-be battering down the doors of the show, then perhaps 6 is a conservative estimate. However, if the show has only 200 attendees, it might be much more difficult to get 6 sales.

But that also depends. A smaller show may have fewer exhibitors (less competition), will have a more intimate feel about it, will give you more time with each prospective client. And, of course it will cost considerably less than a bigger show -- so his break even sales point may be considerably less.

The same goes for much larger shows: more attendees (prospective sales), but higher costs, and much more (and more intense) competition. So the "conversion rate" (number of sales per 1000 attendees) will be lower. There will be more people, but they may be harder to sell.

Once you have a feeling for the idea of "conversion rate" you can start to see how other factors have an important bearing on it: the price of your service, the attractiveness of your presentation, the quality of your samples and handouts, and so on.

Every show and every product will have its "conversion rates", and the only way you can establish the numbers for your own business is to research, experiment, and constantly "tweak" your presentation.

It certainly wouldn't hurt to talk to friends and acquaintances who have trade show experience. Ask them about their own success rates. Ask them how many actual sales they get from a good show. Ask them which shows have been most successful for them, and how often they have broken even.

Putting it together...

The only way you can arrive at hard conclusions is by trying. That will allow you to establish a track record. If you think the numbers for a particular show almost add up, then take a stab. Go to a show or two, and when it is over do a careful analysis of your costs and returns. Then you can establish a reliable "Target Conversion Rate" -- a number you can seriously shoot for and expect to reach -- and then you're in business. Preparing a trade show budget for next year will be a piece of cake.

And of course, once you do commit to a show or two, your focus has to immediately shift to hitting (and smashing through) that Target Conversion Rate. Design a better display, have more impressive samples and portfolio books, fine tune your product, get some memorable handouts, memorize your sales pitch, take voice lessons, get a hair cut...

Author-Bio: Rick Hendershot is a marketing consultant, writer, and internet publisher. For quality trade show displays see http://www.tradeshow-display-experts.com

Trade Show Etiquette (Display your best foot forward)

Wonderful article by Cynthia Lett on how to treat your future customers and partners when attending a trade show event. While some of these are ideas are simple (the best ones ususally are) we think you'll find something even an experienced trade show attender can find useful.

Exhibit Hall Etiquette

Attending and exhibiting at trade shows is all about building relationships, learning about new products and services and maybe negotiating a deal.

But everything starts with the relationship.

It is a fact that we like to do business with people we like. We are less willing to make a deal and write a check to a company represented by disrespectful, ignorant people.

You may say, "Well, of course! That is obvious." But if it were so obvious, why do so many people treat potential buyers and vendors so poorly?

The first impression we have of a company or product is the person who represents it. As a buyer, when you explore a booth on a trade show floor, you should notice how you are greeted? Is it with a smile? Did someone shake your hand? Were you even acknowledged?

How many times have you walked into a booth on a trade room floor and were ignored completely?

It's happened to me. When that happens, it is my cue to walk out quickly. If the booth attendant cannot be bothered to greet me appropriately, this is a company I cannot trust to meet my needs.

This is where knowing the proper etiquette and using it makes a huge difference between you and your competition.

A first impression is made within five seconds of meeting someone. We make a judgment about them and how we will interact based on their clothes, facial expressions, energy, confidence, personal power, perceived authority, posture, personal grooming, and most of all, by the way they treat us.

For five seconds, that's a lot of information being formulated. So you have to ask yourself, do you make that first impression a positive one? Or, do you leave the impression that the person is an imposition, a waste of your time and not worth making the effort.

To make first impressions powerful and positive, keep these tips in mind:

* Acknowledge the other person.

* Smile.

* Look the person in the eye.

* Extend your hand first to shake hands.

* Pump from the wrist, not the shoulder or the elbow.

* Make the handshake firm, not bone crushing. Don't give a "limp fish shake."

* Lean forward from the shoulder to put energy into your greeting.

* Introduce yourself by stating your first and last name and position.

* Whether you are the buyer or seller, always extend or accept a greeting--don't wander into a booth, grab a brochure or sample and run out without making a connection.

* Make the encounter worthwhile--even for the few moments you are there. Ask questions. Attempt to learn something about the product, service or buyer's needs.

* If the product is not of use to you or your company, thank the booth attendants and say goodbye without wasting their time. This shows respect for their business and their time. It will also leave a positive impression about you, because you never know when you may encounter them again.

* If you are the seller, qualify the lead by asking specific questions. Too many generalities waste time for both of you. Examples of good specific questions are, "Do you believe that our product would be helpful to you?" or "What prompted you to stop by our booth?" Remember, wasting someone else's time is a huge etiquette faux pas.

* Ask how you can follow up with them if you intend to do that. Don't ask, "May I have your card?" That is a demand for a gift, not a request for information. The reason we want someone's business card is to have information for follow-up. If you make the demand for a card, you may embarrass them if they don't have any to give. What you really are requesting is a way to follow up. Ask instead, "What is the best way to follow up with you?" or "Where may I send additional information?" This leaves a classier impression and respect for the other person.

* Understand the corporate culture. Is it informal? Does everyone use first names immediately? Or does it tend to be more formal? If so, don't forget to use an honorific (Mr., Ms., Dr., etc.).

* If someone else is occupying your attention when new guests come into your booth, at a break in the conversation, make an introduction and tell them that you will be with them momentarily. This gesture demonstrates several positives. You are acknowledging their presence, and you are making it easy for them to meet someone new.

* People who employ good etiquette act as a resource for others. Know who else is exhibiting and where they are located in case your new prospect would like to know.

* You are either a host or a guest in all situations. If you are the exhibitor, the host role is yours. Everyone who comes to your booth is coming to your office-away-from-the-office. Treat them with the respect you would use if they had made an appointment to meet you in the office. If you are a buyer, you are the guest. As a guest, you have certain duties as well. They include, being present in the conversation; being polite with your questions; making requests, not demands; not wasting anyone's time; and introducing yourself.

* Don't be a complainer. Do you like to hear about someone's aching feet or their hunger for lunch?

* Don't sit down. A person sitting is unapproachable at a show. If buyers want to learn about your product, and you are waiting for them in a chair, chances are they will walk on by and feel put off.

* Don't eat in the booth. If you are not in the position to share what you are eating with people who come into your booth, don't eat in front of them. (Also, chewing gum is a huge faux pas!).

* Be careful not to talk about a function you attended or plan to attend unless everyone at the show has been invited. Nothing makes people feel more uneasy than hearing about not being invited to an event. Along these lines, never make an invitation to one person if anyone else not invited could possibly hear.

* If you said "hello," you must say "goodbye." Don't disappear without closure of some sort.

* Shake hands to say "goodbye."

* Turn off your cell phone, unless you are on a break. If you must be in contact at all times, invest in a vibrating pager or cell phone. If either does go off in the company of others, ask if you may put the caller on hold until you can excuse yourself to a quiet, private location to talk. Don't carry on a conversation in front of anyone in your booth. That is a strong form of ignorance. It is the same as broadcasting your business on the front page of The Washington Post.

* If you don't know what to talk about to break the ice, consider what things you have in common. First, you are at a tradeshow, so ask if it meets their expectations. You had to travel, so ask how their trip was. You probably heard the general session opening speech, so ask their opinions about it. Compliment the guests in your booth on a positive aspect of their company. This could be the number of years they have been in business, their recent merger, their standing on the Fortune 500 list or a recent "win" they had in securing a big contract. Nothing makes someone pay attention to you in a positive way than being complimented.

* No gossiping. When it is slow in the booth, many salespeople revert to gossip to pass the time. This will kill your professional image quickly--even with your colleagues who are also participating.

* Brush up on your grammar. Poorly spoken English causes others to regard you as uneducated. Even a college degree doesn't count if you use the language improperly. Also remember, using swear words are taboo for a professional image. They also make others quite uncomfortable.

While this is a short list, the tips are important to cultivate proper behaviors at a trade show, or any business function.

Keep this in mind: Treat others with the respect, kindness and professionalism. If you do, you remain in good standing with your competition. You can really stand out if you master some of the suggestions.

Once you incorporate these behavior tips into your approach at a trade show, you will enjoy your relationship-building efforts and make each trade show a more effective use of your time and efforts and each business encounter more productive.

Cynthia Lett is director and CEO of The Lett Group, an international leader in etiquette and protocol training. The Lett Group teaches a seminar called Trade Show & Meetings Etiquette. To contact her, call +1 888 933 3883, or visit www.lettgroup.com.

Presenting at a trade show soon. Exhibit Deal can help with trade show display rentals or buy a wholesale trade show display.