The meaning of trade shows and result KPIs
For a long time, in the business to business marketing process, trade shows have had an important position. By having a booth at a trade show, you can exchange business cards with many prospects, publicize the products of your company, and increase awareness of them. If it is a show where your competition will also have a booth, you definitely check it, and you get information in advance and prepare for it. Also, there are companies that prepare their booths and novelty items as a way to make it easier to get business cards from people stopping to look.
But in an era where marketing budgets are shrinking and results on investment are demanded, even attending these trade shows, this way of finding leads, is being watched to see if clear results are produced. The request to attend a trade show just to check how the competition is doing or to raise awareness of your products no longer gets approved for budgetary reasons.
But what are the measurable results of having a booth at a trade show?
For the business to business marketing process, the final goal of having a booth at a trade show is to increase the number of contracts and orders. However, depending on the industry and the field, the time and processes required until an order is made may be long and complicated, so it is better to set a more detailed KPI for trade shows. For example, the number of business cards gotten at the show, and how many of those business cards were able to be converted into appointments and meetings, may be good KPIs.
Of course, companies that do business to business marketing not only set up booths at trade shows, they do web advertising and make telephone appointments. Because of this, they can make KPIs that compare the number of leads gotten and the number of leads converted into contracts for each of these methods.
Three important points for maximizing results from trade shows
So then, we would like to introduce three important points for maximizing orders that result from attending trade shows. There are ways of doing this that have higher costs, like making a fancy booth, having novelty items, or employing pretty girls near the booth, but this time we would like to focus on ways that do not cost much.
Sending advance notifications to invite clients
If you have a customer database in your company, send advance notice to them that you will be attending the trade show. Among your clients or prospects will be those already planning to attend the trade show, and thus sending this email will increase the chances of them dropping by your booth.
Quickly making lists and grouping by level of interest, and then approaching
For this, it is necessary to change the visitor lists or business cards you receive each day into data quickly. By approaching these prospects before your competition can, it will be easier to get appointments and finally orders. Because of this, it is necessary to divide prospects into those that want a proposal or the product quickly and those whose probability of ordering is fairly low. After grouping them, the approach to them will change depending on their level of interest. For those whose probability of ordering is high, you can quickly dispatch a sales rep, and to those whose probability of ordering is low, you can send periodic mailings to, using your marketing and sales resources efficiently.
Following up with prospects and clients
After sending thank-you emails to your prospects and clients, share this information with your sales reps. So that the marketing department doesn’t send out mailings to someone already in touch with a sales rep or a sales rep does not directly approach someone who has received marketing emails, it is best to share the information had.
Doing this, you can efficiently get results from your efforts in the tradeshow. Do the above using business card management tools, and make your trade shows a success!