Category Archives: Tradeshows

Sponsors – It’s a Partnership. How Much is it Worth?

handshake sponsorThe answer is, “somewhere between zero and a lot”. If your industry or profession is an important market for a prospective partner and the potential upside of future sales is substantial, then a partnership with your association could be very valuable.

There are only two reasons why a sponsor wants to partner with your association.

  1. Because aligning their brand with yours increases their visibility or perceived value
  2. Because your members make or influence the buying decisions for their products or services

I was talking to a large software company last week about a partnership with one of our client associations. They were brutally upfront about our value in the second category. They have a 70% penetration rate in our industry so the likelihood of selling meaningful new volume to our members is very low. However, their marketing director noted, “We see value in an association with your association”.

How Do You Assess Value?

So let’s talk about the first reason why a sponsor would partner with you. Do you have a winning value proposition for your prospective partners to align their brand with yours?

  • It depends on 2 elements: does your association’s brand offer something that they need, and is your brand well-known in the sector they want to influence?

If your brand offers credibility, professionalism and community engagement, that could be very appealing to a prospective sponsor. However, your brand must be widely recognized in your sector for this to be of value. If you have a strong brand and high visibility you have the potential for a very strong SVP.

And what about the second reason? Do you have a winning value proposition for your prospective partners to sell their products or services to your members?

  • It depends on 3 elements: number of members, current penetration rate, and the value of a single sale.

If your prospective partner has a keen interest in increasing penetration in your industry or profession, a low penetration rate and a high price point per unit, you have the potential for a very strong sponsor value proposition (SVP). That is assuming that their product or service is a good fit for your members. Even if your membership is not huge, a partnership with your association could be very productive.

How Do You Pitch Your Association’s Value to a Sponsor?

Even if you have an awesome SVP, you still must make a successful pitch to your prospective partner. You have a lot of competition. There’s a line-up of associations in front of you; asking for the same thing.

First, make sure you’re talking to the right people. Second, make sure your sponsor value proposition (SVP) aligns with their objectives.

So who do you need to talk to?

For sponsor dollars, the marketing director usually controls the budget. He/she must be convinced that your offering is better value than the alternatives. The marketing director’s decision will be influenced by the opinion of the business development/sales director that has accountability for sales in your sector.

The sales director is your gateway to the marketing budget. If they’re not convinced that your offering will drive sales, you’re going nowhere fast. Your success with them depends on you helping them to hit their objectives.

What are their objectives and how can you help?

First, you need to ask. To pitch your offering successfully, you need to understand what they’re trying to achieve and position your sponsor offering to help them accomplish their goals. But don’t try to force a square peg into a round hole. If there isn’t a fit, then be honest and move on. If you see a fit, then show them a customized package and explain how it fits with their objectives.

How do you know if you got it right?

Ask. After each activation, get their views on how well it worked and find out how you can help them fine tune it.

In summary, remember 2 things.

  1. Ask, and Listen. Talk to them to find out what their marketing objectives are and figure out how you can work with them to accomplish their objectives.
  2. Then, Deliver. Customize a partner package that will meet their needs, then deliver on what you promised. When the SVP delivery is complete, ask for their feedback.

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Filed under Association, Association Management, Association Management Issues, Event Planning, Sponsor Value Proposition, Sponsorship, Successful Conferences, Tradeshows

The Secrets to Tradeshow Success

Choosing the key to success from hanging keys concept for aspiraA tradeshow is a series of beginnings. Every moment—from the second the doors open until the very end —is a moment where your exhibitors could be making a positive impact on potential customers. If all goes well, these crucial contacts will launch mutually profitable relationships that will last for years. On the other hand, if the impression your exhibitors create is not so positive, they’ve missed the opportunity and may not come back. Here are some ideas to help your exhibitors to ensure that they have a profitable experience.

Increase leads and sales – Business cards are still a great source of information about people. Many companies also incorporate a lead retrieval scanner.  To tap into that source, exhibitors do their best to get contact information from the people that visit their booths. But how about a more engaged approach? I once saw an exhibitor with a high-end bottle of Scotch at their booth as a prize for the business card draw. I couldn’t believe the number of inquisitive folks that came to their booth inquiring about the draw. The physical prize was much more compelling than words. This not only allowed the exhibitor to explain the process but also enabled them to share information about their products. That’s one of the best ways to make connections on the show floor. This approach helps attendees to get excited and engaged. They’re more than willing to drop their business cards or submit to a scan of their badge.

Booth staff – Numerous times we have seen people manning booths on their cell phones or chatting amongst themselves. What does that say to the tradeshow attendees; “I am not interested in your business!” That’s the perception. It’s imperative to explain to exhibitors that they must train their booth staff. They need to engage the attendees to get optimum results. Also, an over-staffed booth might be a deterrent. No one wants to go to a booth if they see five people standing inside a 10’ x 10’ booth, ready to pounce. It’s intimidating and uncomfortable.

Booth décor – Help exhibitors to understand that their booth space is their home for the duration of the tradeshow and they should try to be the best host in the neighborhood. Encourage them to create a clean, warm and friendly environment for the attendees to step into. A cool, branded attire will also make their team stand out, both in the booth and as they walk the floor.

These are only a few of many ways to garner success for your tradeshow. If you want to learn more, check out our VIMEO channel for webinars on this topic. The bottom line is, work with your exhibitors to help them succeed. It requires creativity, clear communication, and tech savviness.

If you’d like to talk to one of Zzeem’s tradeshow professionals and/or find out how we can help, click here.

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Filed under Association Management, Association Management Issues, Event Planning, Successful Conferences, Tradeshows

How To Attract More Exhibitors To Your Trade Show

Trade show concept.In today’s trade show world, exhibitors are questioning the ROI (Return on Investment) of participating in trade shows. What’s the problem?  Here’s what going on.

  • Many trade shows are faltering and this taints the value of the successful trade shows
  • It’s difficult for exhibitors to quantify the value of lead generation at a trade show
  • It’s expensive. The cost of exhibiting is much higher than just the cost of a booth
  • Booth staff have to work at odd times (weekends, evenings, etc.)
  • It’s the same show every single year; same old thing

Many trade show hosts are focused more on generating revenue from their exhibitors, through booth sales and sponsorships, then they are delivering value and returns back to their exhibitors.  This in turn makes exhibitors and sponsors feel neglected.

Others feel that simply making more calls or increasing the frequency of their email blasts/social media posts will be the magic elixir.  It’s much more than a numbers game.  It’s about delivering a compelling and demonstrable ROI to exhibitors and sponsors.

Here are our tips for success:

Tip 1 – Work WITH exhibitors to achieve goals

  1. Ask Questions, LISTEN, and deliver – What are their goals? How can you help them achieve them?  By asking, listening, and helping, you have a much better chance of making the sale.
  2. Partner with them – Make them feel they have ownership in the show.
  3. Collect and share attendee data. Use your registration system to collect useful data about attendees.  What buying decisions do they make or influences?
  4. Testimonials – Collect quotes and/or videos from exhibitors. What value did they get from exhibiting at the show?

Tip 2 – Focus on attracting qualified buyers to your show

  1. Give your exhibitors discount codes to send to their contacts/sales leads.
  2. Partner with other shows to cross-promote each others’ events.
  3. Source a list of qualified buyers and invite them personally to the show.
  4. Look at offering special shuttles to pick-up VIP buyers and offer other incentives to entice them to come to the show.
  5. Make a list of the top 20 to 30 qualified buyer companies, and make a personal visit to them to find out what their goals are for your show. Share this with your exhibitors – existing and potential.
  6. Testimonials – Collect quotes and/or video from attendees. What value did they get from attending the show?

Tip 3 – Convert pre-registrants into actual onsite attendees

  1. Starting 4 weeks before the show, inform them why they must NOT miss the show.
  2. Profile exhibitors and floor demos.
    1. Who is showing a NEW product?
    2. Who are NEW exhibitors?
    3. What are the on-floor demos?
  3. Offer incentives to attend. If they show up, they will receive further discounts from selected exhibitors, on future association events, or any other incentives.
  4. Make scheduled appointments at the show between exhibitors and buyers. That will help ensure that they commit to the show.

Tip 4 – Have exhibitor demos on the show floor

  1. Give a select few some extra space to perform “in-booth” / hands-on experiences in their booth at scheduled times (multiple times over multiple days if needed).
  2. Create a demonstration area where multiple exhibitors can come together to produce a group demo where all the pieces come together.

Tip 5 – Offer an Exhibitor Concierge

  1. A single point of contact to help exhibitors achieve their ROI.
  2. Help them plan their booth.
  3. Help them train their booth staff.
  4. Offer helpful tips on exhibiting.

Tip 6 – Create a pre-recorded webinar

  1. Provide tips for success at the show.

Tip 7 – Keep It Fresh

  1. Change it up every show.
  2. Reward large space and long-term exhibitors with prime space or first choice of location.
  3. See what new technology can be used in booths and on your show floor.
  4. Go back to old ideas that can be re-used. Just because it’s old doesn’t mean it won’t work again.

All these tips, or even just some of them, will help start the process of gaining new exhibitors, new attendees and putting life back into your show.   If you can do only one thing – PLEASE LISTEN!

Are you looking to take your show to the next level?   Contact Erik Naar to learn how we can help!

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Filed under Association Management, Association Management Issues, Event Planning, High Performance Organization, Sponsor Value Proposition, Sponsorship, Successful Conferences, Tradeshows