| “Discovery consists of
seeing what everybody
has seen and thinking
what nobody has
thought.”
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Albert von Szent-Gyorgyi |
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| Competitive Intelligence |
... I Spy!
Virtually all exhibitors at trade shows budget time for surveying their competitor’s merchandise and latest offerings.
Is there a better forum for competitive analysis? Trade shows offer us the chance to come face to face with our competitors,
learn of their plans, and uncover information that may not make it onto their web sites and into their brochures. To make the most of this opportunity, a Trade Show game plan is essential.
Before the show obtain the show floor plan and exhibitor list. This will give you an idea as to which of your competitors will be promoting itself and who is an event sponsor. How they are sponsoring may give you some insight into how they are performing. For instance, if a competitor that has rented a 10’x10’ booth has now booked a much larger booth space or is listed as a Gold level sponsor, that tells you something about its performance. Before the show determine your plan of action, establish the questions you want answered and ensure that at least one of your team is responsible for picking up the competitors’ promotional materials. Divide the floor plan into areas of responsibility so that you will not be stumbling over each other on the floor.
At the show single out one team member as the point person - the information collector. Obviously, you cannot go up to a competitor’s booth, hide your name tag and start asking questions. Most companies are very aware that they have competitors out there trying to collect information. However, it is a fact of nature that everyone talks more than we should. Approaching a company rep in a friendly manner and identifying with him or her as fellow professionals is often a useful tactic. People like to talk to their peers, those we can relate to and with whom we can share experiences. Potential customers, suppliers and non-competitor firms also have their ears to the ground, and also talk to your competitors. A competitor may reveal more to a potential client than to you, which makes a client a valuable source of information.
For your report -don’t forget the obvious. What size booths do your competitors have; how well are they designed; who is their booth staff; what collateral materials and gifts are they handing out; which company seem to be receiving the most traffic and why? Such information can assist your own company’s marketing efforts, and is also useful for measuring your show performance with others.
After the event it is important to combine what you have collected and deliver it as quickly as possible to those who can use it. Don’t let this important step wait: old intelligence may be interesting, but it is of little value.
Going to trade shows allows us to get "up close and personal" with those we are observing on a daily basis. With some simple
preparation, attending a trade show with a clear action plan can produce more valuable information than is found in a tote bag full of pamphlets and free pens. In addition to promoting your company, you can walk away from the show with a better understanding of your competition.
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Strategically designed social events, once a tradeshow afterthought, are rapidly emerging as the more important and
productive complement to trade floor selling. Trade show success does not happen only on the
show floor. Today’s forward thinking companies are discovering imaginative ways to spend quality time with
valued customers and prospects — away from the show floor sales environment.
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Getting exhausted customers and prospects to your post-show event is half the battle. The secret is how and when they are invited and, of course, what you are inviting them to. If you want your event to stand out, create a have-to-be-there happening with an over-the-top invitation. A great |
party begins with the perfect location. Use a venue that either sells itself or is so unusual that
the customer’s would not miss the chance to be there. When developing a theme for an event or party, integrate a message that relates to your core sales effort. At afterhours parties, your clients are there to be social,
not to be sold. Offer entertainment that is unusual and fitting to your theme and audience.
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At a trade show, time is money. People’s schedules are set down to the minute. Your prized
customers and prospects will likely be invited to several parties. Make certain you provide them
with a good deal of notice. Mail the invitation on time – at least 6-8 weeks before the show. Use
phone follow-up to remind people to RSVP. Party favors are great ways to help guests remember
their positive experience. They also can be used as calculated tools to support or complete your
sales message. A gift not only functions to remind your guests of the good time they had, but
also to keep your sales message in their minds long after the party.
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The triumph of a fabulous party can be measured beyond attendance. Promoting the event’s success
after the party is important to drawing next year’s crowd. Have a photographer on hand and add the pictures to your
website and as an attachment for your next email. Invite industry journalists. Word-of-mouth
reporting is just as valuable. That kind of success only comes from thinking outside the
booth.
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If the whole idea of a tradeshow event is too much to think about - ask an expert - contact Jan Koren at jkoren@AbsoluteExhibits.com or call her at 888-760-6555 ext. 113.
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On the Show Floor ... seek new products to distribute or buy Trade shows afford a fast way to peruse
other firm’s products or services that you may wish to distribute or buy. Be cautious. It is
easy to make hasty and premature decisions during the excitement of a trade show. If you
have any hesitation at all about coming to an agreement at a trade show, back off until you
get home and have a chance to think it through. Or, at the very least, wait until the
end of the show, when you have had a chance to evaluate all of the potential products
or services that may enhance your ability to meet your own customer’s needs.
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Meeting With Key Accounts
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If you hope to have meaningful meetings with key accounts, you need to
make appointments well in advance. If you can leave your booth periodically, the ideal situation is to
meet your key accounts off the trade show floor. If this isn’t possible, set up a private, quiet area in your booth
that is outfitted with chairs and a table, to conduct your meetings. Instruct booth staff to keep interruptions
to a minimum while you are in the meeting. Convention meetings are tricky. Everyone wants to get
the attention of key buyers. It isn’t unusual to have appointments changed or cancelled at the last minute.
You might even be stood up entirely. Don’t be surprised, take it personally, or worse take your frustration
out on the next guy!
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