Experience
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Very informative article by Ruth Stevens at Marketing Profs.
Business events are at their most powerful when they are part of an integrated go-to-market strategy. Integration sounds logical, but how do you actually pull it off?
First, you have to have control—or at least influence—over all the elements of the marketing mix. Then, you must develop a sound strategic approach to business event planning. Among the most productive strategies are those based on the following:
Business Event Planning Based on the Customer's Buying Process
Fortunately for marketers, most business buyers follow a fairly well-defined process as they evaluate options and make purchase decisions. In some companies, the process is so well defined that it is codified, and prospects will share with you the exact steps they must go through to buy. The more marketers understand the buying process of their prospects, the more efficient they can become with their selling processes. The secret is to map the selling activity to the prospect's buying process stage.
For a list of the typical steps a business buyer goes through, see table 1. Of course, these steps vary by industry and by company size. In the second column of the table is a list of the seller's objectives at each stage. Notice how those objectives vary as the prospect's needs and activities evolve.
Table 1: Marketing Objectives at Each Stage
of the Buying Process
Customer's Buying Process Stage | Marketer's Objectives |
Identify need | Arouse interest |
Research solutions | Be known to the research team |
Develop short list | Be selected for short list |
Request proposals/quotes | Submit winning proposal |
Review proposals/quotes | Create preference |
Negotiate | Preserve margins |
Select vendor | Win! |
Install and use | Satisfy and support usage |
Upgrade | Up-sell, cross-sell |
The successful marketer will analyze the buying stages for each account, or customer segment, and understand who is involved at each stage. The marketer will then craft strategies to help the prospect move to the next stage—preferably toward a purchase from the seller rather than the competition.
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Got An Attitude? About Trade Shows? How You Think About Them - Shows - 5 Simple Q&A
8 Tips for Trade Show Staff
We hear from many of our clients that the trade shows they attend seem expensive and don't yield results. When we investigate further, we usually find that trade shows are not being planned and managed adequately. Businesses are not researching the show prior to exhibiting, not promoting their exhibit in advance, not strategically planning their booth appearance and location, and not conducting the proper follow up on trade show leads. In fact, studies have shown that 79% of businesses fail to follow up on what leads they do get at a show.
There are times when the home entrepreneur may crave a little one-on-one interaction with her customers. That's when she should consider taking her act on the road... to a trade show.