Managing Trade Show Leads in 4 Steps

Managing Trade Show Leads in 4 Steps

Business, Trade Show

Leads collected at trade shows are some of the best you can get. Managing those leads can be complicated but it doesn’t have to be. Knowing the plan before you go to the show allows you to close those deals and keep your business growing.

Collect Your Leads as Efficiently as Possible

If the show has a lead retrieval system, take a good hard look at the cost. Being able to scan a badge and get a name, company, phone number, and email from someone is worth it. The $500 – $900 you will spend to get leads will balance out the time you will spend inputting business cards or even the lost opportunities because you didn’t get someones contact information. Many businesses are not printing business cards anymore, how will you collect someones information if that is the case?

It can be a larger expense but the time it will save when inputting your leads will make it worth it. I have spend 8-24 hours sorting and typing in information from business cards.

If you have to go the business card route due to the show not having lead retrieval here some tips to streamline.

Gather your team and split the work up. You need to have all the information in a useable format within 72 hours after a trade show. The more people you have on this project the better.

Now, before I hand out the lead cards, I will separate them depending on the information that I received. Group 1 is full information, name, title, business, phone, and email. The physical address is a bonus for me. Group 2 is name, phone, and email. Group 3 is name and email. Group 4 is for those that only gave me a name and a phone number. These groups go onto a different sheet of my Excel file. If I know someone is interested in what I am selling, I will place a star on their lead card. This serves as my reminder to follow up with them first. These leads are marked in a color.

You will create a system for grouping your leads and what is most important for your business.

Learn tips on how to bring traffic to your booth.

Input Leads into Your CRM

However you track your leads, input these new ones into it. If you do not have a CRM system, look into HubSpot. They have a very robust system that is free. This allows you to track when and where you received leads, when they turn into customers, and the value of those customers. This information allows you see what your cost of acquisition is and how much you can spend and still make money.

Send a Thank You Email

Every email that you have collected may not be a warm lead now, but can turn into one later. Sending out an email to them within 72 hours of the trade show ends helps to keep your company top of mind. You then have a collection of emails to send newsletters and promotions. Do not over do the number of emails you send out and always comply with the laws of your area for unsubscribes.

Follow Up

Those leads that you marked as urgent should be contacted within 72 hours. I would suggest the phone for this follow up. Email can be used but anyone who has been to a trade show knows that they will return home to an inbox overflowing with “Thank You” and “Follow Up” emails. If the lead urgent, pick up the phone. You can follow up with an email after your phone call but

Trade shows are only as effective as your follow up. Ensure your company has a great ROI on its trade shows so you can grow.

4 Steps to Choosing the Best Trade Shows for Your Small Business – Mini Course

4 Steps to Choosing the Best Trade Shows for Your Small Business – Mini Course

Business, Non-Profit, Trade Show

I am very excited to announce the launch of 4 Steps to Choosing the Best Trade Shows for Your Small Business.

This free mini course walks you through the four steps in selecting the best shows for your specific audience and budget, while producing the best return on your investment. 

Sign Up Here

This course will help you get clear on your goals for your event participation, teach you what type of research is most helpful in meeting those goals and provide resources on finding the shows that will add value to your business.

The Hidden Costs of Trade Shows

The Hidden Costs of Trade Shows

Business, Trade Show

When setting up my trade show budgets I attempt to input estimates for every place that money will be spent but there are always hidden costs. After budgeting for hundreds of trade shows here are the things that people often forget to add into their budget.

Food for You and Booth Staff

You will want to have a good breakfast and lunch for a one day show. You need the energy that comes with having a good meal – it helps. Don’t forget about drinks and snacks as well. I estimate $50 a person per day for just breakfast and lunch or $100 – 150 a day for breakfast, lunch, and dinner. Many shows now have water bottle refill stations. Buying branded reusable water bottles can save money on water and promote your company. Most convention centers are charging $4 for a bottle of water. That can easily add up and all these little things can really add to the hidden costs. Learn other ways to keep your Booth Staff Happy.

Travel Costs

Gas, mileage rates, and parking are the biggest culprits of this. Even as an exhibitor or booth staff, you are often required to pay for parking near the show. I offer to pay mileage for anyone who is staffing a booth. You need to understand how people are arriving at the show and what their costs will be.

Think also about hotels and airfare for shows that are out of town. The extra fees and taxes on hotels can add up along with baggage fees. The last thought on out of town travel fees it transportation to and from the show. Staying within walking distance of the show can save you a ton of money. If that is not possible, using the plans for Uber or Lyft can bring some discounts.  Estimating $800 – $1,000 for travel costs per person is a good basis.

Invoice Errors

Check your invoices for accuracy. Trade shows are big and errors do happen. It is much easier to correct them at the show than after. Labor is often the biggest item to look at. Make sure that if your ordered people for certain times but they were late and ended up on over time – that you don’t pay that. It is not your fault that they were not on time.

Shipping

When you travel to shows and plan to ship items either to your hotel room or the trade show floor, sit down and crunch the numbers on what is the best way to go. The first item you need to know about is what the rules are for bringing items onto the trade show floor. (See three rules that can derails your booth set up.) If you can bring items onto the show floor and don’t have to ship them all in, then an overweight or oversized bag fee may be cheaper than shipping and drayage (the cost to move your items from storage to the booth and back to storage).

If that is not an option, then make sure that every item you are shipping is worth its weight.

I suggest digital literature whenever possible because that is one of the most expensive items to ship and it is the one most likely to end up staying at the hotel. Also, consider the size of your giveaways and always make sure that they can make it through airport security if you are doing an out of town event.

Bonus: Other Booths

I enjoy trade shows and craft fairs because there is so much to see. I almost always come home with something from another vendor. Having that in your budget is helpful. You can also use this purchase as a way to start a conversation with another vendor that you are interested in doing business with.

One way to encompass all the hidden costs or items you may have forgotten to budget for is to add 20% to your total budget. I put all of my costs into a spreadsheet and then have a line item that adds 20% to the initial total. That final total is my budget. If I do not spend the 20%, great! That money is shifted to the next trade show or project.

Perfecting your Event Press Release

Perfecting your Event Press Release

Business, Events, Trade Show

Press releases (also know as, press statement, news release or media release) are a great tool to increase awareness of your event and your brand. Writing a release can seem daunting. I remember writing my first few and agonizing over the wording and formatting.

Your release has the two goals of grabbing attention and giving information in a clear and concise way. This is not a time to over exagerate or use flowery language. You want people to know about and attend your event and to trust you for future events.  

Here are the simple steps that I follow for writing an event press release.

Parts of a Press Release

  • Headline
    • This is one sentence that you use to grab your readers attention. This will also be the subject line of the emails that you send out.
  • Dateline
  • Lead Paragraph
    • What is the event and why does the press care. You need to give them a reason to attend.
  • Body
    • This is one or two paragraphs that go into greater detail. Who will be attending, why you are hosting the event etc.
  • Company Information
    • This is a generic about us paragraph that your company will use on press releases.
  • Contact Person
    • Provide who the press should reach out to for more information.
  • Ending
    • It is standard practice that you end the press release with “ ### “. The three pound signs let your reader know that the release is finished.

Perfecting the Release

The format of the press release is very formulaic. Use the formula. This allows the press to see what you are about very quickly. So how to you stand out?

Here are some tips.

  • Give them a good story (but keep it true).
  • Use the third person, active voice.
  • Keep it to one page 300- 500 words.
  • Don’t make them hunt down vital facts.

The last point is my biggest tip. Some people will tell you to not give everything away – I say the opposite. Give the press everything. Let them know about the amazing event that you are hosting. One caveat to this; if you have a surprise guest, do not put that in the press release. If it is in the release the press can let the public know the details.

Submitting Your Master Piece 

Most newspapers and TV stations have an email address or a portal for submissions. You do not want to add your press release as an attachment (in fact don’t add any attachments). The release is the body of your email.

If you are going to be submitting more than once a year, create a list of the TV, Newspaper, and Radio stations in your area and where you need to submit you information. This will keep your submission release down significantly.

I submit my press release twice. Two weeks ahead of the event and then the day before. This gives the press time to put your event on their calendar and then reminds them.

A last note, be ready for the press to not show up. Most of the events a small business will host will fall below the murder and meyham that makes up most of the news. Plan for them to be there but don’t hold up your agenda if they don’t show.

Vendor Interviews

Vendor Interviews

Events, Non-Profit, Trade Show

The vendors your hire will make or break your event. They are a large part of what your guests will see and interact with – having great vendors will push your event into the top echelons, having a bad vendor can leave embarrassment and bad feelings for years to come. 

How do you ensure you have the right vendors for your event? Vendor interviews. 

These allow you to get to know the person you are working with and if they have the know how and capacity to help at your event. 

How I Conduct Vendor Interview

Internet Research

I have no compunction of doing some major research on a company before even calling. I want to see the following things. 

  • A professional website – Their website does not have to be the newest or flashiest, but I want to see they have put the time into their business. This shows me that they care about their work and reputation. I will accept a very well done Facebook page as a company website. 
    • I worked with one company that stated they had a huge inventory of items but very little of it was pictured or priced on their website. This company messed up a major event for me because they did not have the materials they stated. Trust what the websites are telling you. 
  • Reviews – You want to see that other people have worked with the company. I don’t mind bad reviews as long as they are balanced out by good reviews. I will often click on the profile of the bad reviewer and see how they review other companies. (90% of the time the other reviews are bad as well.)

Ask to Meet the Vendor at Their Office or Warehouse.

You can tell a lot by how people keep their business space. I look for the following things while at someone’s office space. 

  • Is it clean? – I do not ask that things be spotless but I do want to see things organized. 
  • Do the other people on the team seem happy? – Now, everyone has a bad day, but if people are jumpy, won’t make eye contact, and avoid the boss. I tend to run the other way. These are the people that will be at your event, you want people that are going to do their best – not live in fear of the boss. 

I do have a caveat on this, if someone’s desk looks like a complete mess but they are able to put their hands on any piece of paper they want – I will overlook the mess. Some people work well with that system and if they showcase that, I will move forward. 

Questions to Ask

You have done your research and are at their place of business – great job! Here are the questions you should ask. 

  • Can they cover the scope of your business? – Outline the event you are planning, let them know all of the details, guest counts, space, date and time. They will need to know all of this so they can determine if they have the ability to work your event. Most event vendors are great people and if they cannot help you, will point you in the direction of people who can. 
  • What is their back up plan? – If they suddenly cannot help out at your event, how will they help you? This does not happen often, but business do close their doors or personal things comes up. I am more concerned about their tone of voice and if they get defensive from this question. 
  • What suggestions do they have for the event you have outlined? – Event vendors have seen it all and are a wealth of knowledge. Ask their opinion and you will often find great ideas. 
  • Do they have the right insurance for your event? – I want my vendors to carry their own liability insurance on top of the insurance I buy for the events. Most companies have a general rider that they pay for with their business. I reserve this question for events over 50 people. 
  • Ask them about the other vendors you plan to use. – Vendors know one another, some refuse to work with certain people, some have contracts that force them to work with certain companies. Ask them what they think about the other vendors on your list. You can gain great insights. 
  • Can they give you referrals or examples of their past work? – If someone is unwilling to show you their past work or give you people to call, run away. I refuse to work with someone who has nothing to show. If you are interviewing a company that is brand new, ask them their experience in their field and potentially ask for character references. Going with a new company can get you a lower cost but you have to weigh that against your desires for the event.

Vendors are the people that hold the keys to your great event. Hiring the perfect vendor for your event starts with the vendor interview. Don’t skip this step. The two hours your spend on research can save you hours of heartache later.