Reprinted from Tradeshow Week®
Corporations are finding that special events planned to complement their tradeshow exhibits can pay off in sales. Lisa Faust, Managing Partner of The Contemporary Events Group, and Dave Weisz, Director of Global Sports and Event Marketing for Motorola, discussed how to accomplish this in “Maximizing the Marketing Power of Corporate Events.” The session was held during TS2-The tradeshow about tradeshows in Chicago.
Exhibit managers are facing many challenges that cannot be avoided. Faust cited budget cuts, layoffs, downsizing, the economic slump, recent upheaval in major corporations, and spending restrictions within firms as examples.
“The pressure is on today to produce quality events on an air-tight budget,” Faust said. In-house accounting departments examine all events and ask why they are being held, how effective they are, and what returns on investment they produce. “You can’t gauge an event’s success unless you can document its effectiveness,” Faust said.
Faust and Weisz used the acronym POWER to show how to maximize the impact of special events.
Here’s what’s hot and what is not in special events, according to Lisa Faust of the Contemporary Events Group and Dave Weisz of Motorola.
What’s Hot:
- Brand-boosting events
- Smaller events for narrow, targeted audiences
- Subtle décor themes
- Experimental events
All make an impact and distinguish a company, provided leaders are present and available at any special event.
What’s Not:
- Basic thank-you customer events- It’s not JUST a social function
- Traditional affairs that target the entire tradeshow attendee list
- Events held without company leadership present
Faust and Weisz view these as old, boring and ineffective in message delivery.
P: Produce Effective Events
Because of budget pressures, companies recognize the importance of special events in delivering messages about brand, quality and value. Special events are no longer viewed as social functions.
O: Objectives and Goals
Know your objectives before an event begins. Develop a baseline to measure against, Weisz said. Possible objectives include:
- Increasing sales over a specific period;
- Collecting qualified leads for future campaigns;
- Increasing mind share;
- Distributing samples for trial;
- Establishing position;
- Increasing brand awareness; and
- Decreasing sales-cycle duration.
W: Who are your customers…
…and what are their needs? What do they want from your company? Faust and Weisz said the best way to find out is to survey them. Some sample questions:
- How long have you been our customer?
- Are you a currently a satisfied customer?
- What are your organization’s top three issues concerning the performance of our company?
- What stands out most about us?
- Would you like to know more about the benefits and features of our products or services?
- How familiar are you with our new product(s)?
- Which topics would you like to see covered at a future event?
E: Efficient, Effective and Economical Events
Faust and Weisz gave the following steps to maximize the marketing effectiveness of an event:
- Get them there by making the invitation exclusive;
- Provide free transportation. The cost is miniscule compared to the results you can obtain;
- Know how many will show up so that registration runs smoothly;
- Target your audience carefully. Don’t let booth salespeople issue indiscriminate invitations;
- Choose a venue that makes sense and reflects your image;
- Establish a budget and stick to it;
- Use vendor trade-outs to decrease costs, and increase brand awareness and sponsorships to obtain more for your money;
- Greet all guests personally. An individual greeting equals more face-to-face time with important customers;
- Make sure your CEO greets guests and delivers a few important remarks during the event;
- Make the event newsworthy. Good free PR is priceless; and
- Ensure continued exposure by giving away useful items.
R: Results and ROI
Faust and Weisz said that results are what make the entire effort worthwhile. Set up mechanisms to measure whether you met your goals and objectives, and to determine if your guests connected with your brand.
You can do a head count to determine numbers, but good post-event surveys are invaluable. The panelists suggested two.
- Post-event attendee survey. Ask if the attendee was satisfied with the event and if the venue, entertainment and menu were appropriate. Surveys should also ask whether the attendee’s participation in the event would influence a decision to buy your company’s product, and whether your company provided enough information in this decision.
- Post-event employee survey. A great deal of valuable data can be obtained from employees. Ask:
- Did you attend the event?
- Was the brand image projected in a positive manner?
- Of the guests you invited, how many did you greet personally?
- What was the most commonly voiced concern about the company or its products?
- Did the event succeed in creating a sense of excitement for the company and its products?
- Did the company obtain new prospects or make sales as a result of the event; and
- How would you improve the program to achieve greater impact or results?
“Finally, reassess all of your efforts,” said Faust. “A program its only as good as its results, so be critical. Determine what you did right and, more importantly, what you can improve to guarantee even more future success.”
