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Exhibitions offer companies an opportunity to increase their visibility and profile in a relatively short amount of time and in one location.
These days exhibitions should not be viewed simply as places to buy and sell but instead they can offer a whole range of benefits. These include gathering market intelligence and conducting competitor research, generating sales leads, performing product testing and demonstrations, obtaining customer feedback and sourcing new distribution channels. On top of this, exhibitions are now being used increasingly as an away from home meeting venue for regional staff get-togethers and product updates, as well as providing client entertaining opportunities.
With so many elements at play, it is essential therefore that planning and resources are put in place to ensure maximum benefits and return on investment for every exhibition attendance. This includes providing dedicated operational, marketing and financial activities, not just prior to the event, but also during and after the show.
An exhibition plays host to the key players in an industry and offers an ideal opportunity to see where a specific market is, at that given time, and how your company fits into that environment. It also gives you a good gauge as to how much more you could do and assists with the development of future plans, product and market expansion.
Firstly establish the main purpose or purposes for participating in an event. This could be to generate or sustain visibility, to launch new products, to attract prospective buyers or agents, to build on customer relations or retain current customer base. “Customers choose shows to target a specific market,” says Zeljka Tomljenovic of ITE Travel Exhibitions, “either to establish contacts in this market, especially in an emerging market, or to keep up relationships with business partners through face to face contact.”
It is important to set targets which are specific and measurable as well as being achievable. For example if the main purpose of the stand is to generate sales leads, then determine how many staff the stand size can accommodate, how many hours they will be on the stand and how many leads would be feasible per hour. This will give you a total number of leads to aspire to. Alternatively you might want to set a target to make contact with 15 key industry decision makers relative to your field over the period of the show or convert a set number of previous leads from that the region into new customers.
Based on your objectives, it is then important to choose the event that will best achieve these objectives. Each year there are several events worldwide that are relevant to you but limited budgets mean that making the right choice is crucial. Talk to clients and similar companies as to what exhibitions they attend and obtain their feedback. Look at industry associations in your field and contact any affiliated bodies that could provide you with a list of possible events. Look at their websites and then contact show organizers and request a show report and the latest market information. If at all possible, visit an event to fully evaluate its worth to your company.
Fiona Jeffery, Managing Director of ITTFA member, WTM, says “many new customers source information on our website and also through WTM’s participation at other member trade shows. We are always very honest and if we don’t think WTM will suit a company’s needs, we tell them.”
Another source of information is of course the press. “Key partnerships with business associations and agreements with general and specialized media, both national and international, are ways for us to promote BTL to new customers,“ says Sandra Tereso, Marketing Exhibitions Manager BTL.
Once you have decided on the show you want to attend you then need to look at budgets and set down a budget forecast. The stand size will be limited by your budget so look to see what you get for your money and if that will meet your needs. Costs can easily escalate out of control resulting in negative financial implications so ensure you include as many foreseeable costs as possible, allowing a realistic degree of flexibility. Cost for pre show set up, staff training and follow up should also be included along with actual costs during the event.
Once the event is over you will need to determine how effective your participation was, based on the objectives you outlined at the outset and your return on investment. This will involve evaluating the actual exhibition results – value of sales made, number of potential leads, measurement of publicity and exposure – against the planned objectives. You can then look at what was not attained and how you could improve next time. This evaluation should include feedback from all the staff involved as well as local show results and reports from the organizers.
There is much to be gained from the exhibition experience and the rewards are great providing time and resources are managed throughout. As always good preparation and research are the foundations to success.
ITTFA, International Tourism Trade Fairs Association, represents some of the best travel trade events worldwide. For more details on our members, see www.ittfa.org
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
