Trade shows that make money

Trade Shows that Make Money

Coach ThomBusiness Counselor, Advisor and Coach

2013

If I gave you $1,000…

• What are three ways you could possibly invest it

• Then select your top one

• Volunteers?

As a Coach….

• I’m charged with paying for myself THEN delivering a whopping return

• Work with the owner and the team to reach GOALS by– Focusing– Motivating– Teaching– Counseling – Advising– Pleading– Begging– Beating– Crying– Threatening– And sometimes extorting…

Who wants more…..

Number of Leadsx

Conversion Rate=

Customersx

# of Transactionsx

Avg. $$$ Sale=

RevenueX

Margin =

$ Profit $

6

With just a 10% increase...Number of Leads

XConversion Rate

=Customers

XNo of Transactions

XAvg. $$$ Sale

=Revenue

XProfit Margins

=$ Profits $

4,000 X25% =1,000 X 2 X $100 =$200,000 X 25% =$50,000

4,400 X27.5% =1,210 X 2.2 X $110 =$292,820 X 27.5% =$80,525

A 10% increase in each of the 5 areas will result in a 61% increase in Profits?

Do it 2 years in a row and your profits will increase by 159% compared to baseline?

Number of Leadsx

Conversion Rate=

Customersx

# of Transactionsx

Avg. $$$ Sale=

Revenuex

Profit Margins =

$ Profits $

Did You Know That...

Number of Leadsx

Conversion Rate=

Customersx

# of Transactionsx

Avg. $$$ Sale=

Revenuex

Profit Margins =

$ Profits $

How We Will Apply the Rule of “10 by 10” to Grow Your Business...

Work on 5 LG Strategies

Work on 5 CR Strategies

Work on 5 #T Strategies

Work on 5 Avg. $$ Sale Strategies

Work on 5 PM Strategies

Steps to a Profitable Trade Show

1. Determine Break Even2. Determine Goals

1. Sales2. Leads3. Units4. Prospects5. Profit6. Surveys

3. MESSAGE AND OFFER…..

New Lead Generationx

Conversion Rate=

Customersx

# of Transactionsx

Avg. $$$ Sale=

Revenuex

Profit Margins =

$ Profits $

In Trade Shows….Goal: Get new leads at show. Not branding, or name out there.

Goal: Convert prospects at show

Goal: Rapport with past customers for more purchases

Goal: Upsell/add on sell

NOT APPLICABLE

Marketing Campaign Break-Even AnalysisIs This Show worth it

Registration $______Labor $______Incidentals $______Total Cost $ ______divided by

Average Profit ($) per Customer $ ______equals

Number of Customers Required ______divided by

Measured Conversion Rate ______equals

Number of Leads Required ______

What is the probability that the campaign will generate the required number of Leads?

Marketing Campaign Break-Even AnalysisIs This Show worth it

Registration $ 500Labor $ 1,000Incidentals $ 300Total Cost $ 1,800divided by

Average Profit ($) per Customer $ 150Average Sale is $500 with 30% PM=$150equals

Number of Customers Required 12divided by

Measured Conversion Rate 20%equals

Number of Leads Required 60

What is the probability that the campaign will generate the required number of Leads?

Profitable Marketing ...

Two sides to marketing ...

• If you invested $300 advertising and got 10 customers ...

• You paid $30 each ...• How can we reduce

that ... ?

• If your customer spent $550 a year for 6 years ...

• That’s $3,300 to you!• How do we increase

that ... ?


1. Determine Break Even2. Determine Goals

1. Sales2. Leads3. Units4. Prospects5. Profit6. Surveys

3. MESSAGE AND OFFER…..

Message and Offer

• Any Message > no Message– New* USP– New* service or product launch– New * change in policy

• Offer At Show– BOGO– Gift with Purchase– Relaxed Rules– If you_______, I will_____________– Discounts as last resort

• * New or NEW TO THEM

Message and Offer

• Think Romance…Small Steps

• Not “Will you Marry Me” at a show…

• What will you say to those folks passing by?

• What will you say to those more interested?

The Booth Display

• Scout your location like a neighborhood block– Traffic flows, neighbors, rush hour, dead times– Pick a location based on those goals- tons of

leads, or better prospects

Modalities of Communication ...

The Booth Display for Visuals Checklist

• Signage– Notice -ability _______– Readability _______– Position _______– Clarity _______– Don’t Assume they know _______– Extra secondary signage to say what you

might not get a chance

The Booth Display for Visuals Checklist

• Merchandising– Big Items-how the product is enjoyed aka

staging, a private chat area– Small items hand level with extension– Traffic flow like a store– Multiple entrances– Use inventory to fill in– Loss Leaders front and center

The Booth Display for Auditories Checklist

• Noises that will create attention

• Sham WOW, Ladder and Knife guys

• Don’t annoy your neighbors

• On going demonstrations

• Speak loudly like a tour guide what you might not get a chance

The Booth Display for Kinesthetics Checklist

• Samples that invite touching, holding interacting

• Displays or self demonstrations “ “

• Mindful of YOU crowding– create an employee area– Not a bank guard– Step out and away

• Smells-candles, sprays

Giveaways

• ROI

• Branding or call to action

• Everyone or just qualified

• Trick or Treat for Adults

Booth Staffing

• Create SMART supply/demand schedule

• Save on labor costs, increases profit and won’t overpower would be visitors

• Spread out and don’t huddle

• Frequent hand offs and breaks to stay fresh with enthusiasm and body language

• IF YOU MUST SIT….

• Never read.

Cure for Show Boredom

• BEST opportunity for market research. Hundreds of a decent target in an intense environment.

• STUDY THEM. – What other bags/brochures do they have– What logos on their T shirts– Kids/no kids– Age

Cure for Show Boredom

• How do they interact with your booth/other booths? Eye movements, enter, leave, how long do they stay, traffic patterns

• How do they “view” you? Avoid eye contact, nod, run away

• L I S T E N for the questions they ask

Conversation Starters

• Open Ended not closed

• Nothing that elicits “No Thanks”

• S E C O N D S

• The Rules of 3

• My favorite….What do you think?

• Empty Handed or with a hand out?

I Want Leads….

• High Quantity with questionable quality

• Low Quantity with better quality

• How to best collect the type of leads you want

• Register to win/Free Giveways/Tons of handouts

• Treasure Hunts, Trick or Treat and Tire Kickers

I Want Leads….

• Low Quantity with better quality• Separating the wheat from the chaff/qualified vs.

un qualified• Develop a qualifying question• Good in all sales scenarios• “Do you have a place for it?”• “Do you own land?”• “Do you currently own a ______”• Not so much the answer but the clues you get in

an longer answer

I Want Leads….

• Low Quantity with better quality

• Can I follow up with you (then shut up) or should I follow up with you? When?

• Take advantage of the personal truthful nature of face to face sales situations

• Your forcefulness is only in your head.

Creating Your Own Lead Form

• Most common question at show from visitors: How_____________?

• Price Transparency as a by product of net

• Not troublesome, an opportunity:– BALL PARK Prices– 3 ranges….small is around $ 5– Medium is between $7-9– Large can be anywhere from $10-12


• Show attendees empty out their bag the day after the show and go through all those expensive beautiful brochures

• They probably trash some of it, and keep the rest for the future….

• But what if YOU piece of information was different…

• What if you gave them a ball park quote form


• A ball park quote form giving them some basic ranges

• Pre printed with you information on it

• Some other useful advice including what their next steps should be

• Maybe a 2 part form-one for you, one for them

Logo- your name- company- name contactCell Phone Office Phone

Ball Park Quote for a _________________You’re Using your new ________ for:

The things that are important for you are:We can do this a few different ways. Here are a few options:

Option A Option B and Option CBall Park Price: Ball Park Price: Ball Park Price:

Want to learn more? Our next step is come out and visit you in person so we could get a first hand feel of your projectHow about___________________________ at

____________________What’s your address?_______________________________________

Or, we can speak by phone after the showWhat’s Your Name____________________________

Phone Number________________________________

Take 5 minutesand create your own first

version of a Ball Park Quote Form you can use at a show


1. Determine Break Even

2. Determine Goals

3. Determine Offer and Message

4. Set up your Booth wisely

5. Gathering new leads

6. Following up and analysis

Post Show: Follow ups and Analysis

• Prioritize the leads

• FAST follow up on the warm.

• If too soon, ask “Ok…when?”

• Make your follow up specific, guiding them to the next step

• Assign a likelihood of closing so you can……

Post Show: Follow ups and Analysis

• Do a Post Mortem Analysis

• Did it break even/make profit?

• Did you reach your goals?

• Why?/Why not? Your fault or not?

• LB and NT

• How to set show

expectations

• Develop show goals

• What’s your message and offer

• Setting up and manning the booth for VAK

• High Quality Leads

• Follow up and Final Analysis

LearningsQuestionsDiscussionFeedback

Home Shows that Make Money

Coach ThomBusiness Counselor, Advisor and Coach

2013

About Our Coach

•Former Business Owner who can relate to trials and triumphs of small business•Coached 338 small businesses•Industrial Psychologist specializing small businesses sales and revenue growth•Reputation as the “Call it Tight” and Results Coach•Average increase to net income is 31%/1st year•Experience in the outdoor structure

industry

Trade shows that make money

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