I distinctly remember the 1998 Mortgage Bankers Association Annual Convention held in Chicago. I was a Vice President of Sales and Marketing for First American Real Estate Solutions and with an odd-hour to kill, I was working the booth. In strode a diminutive, but unmistakably familiar man: Franklin Delano Raines, the Chairman of Fannie Mae. No badge, just quietly cruising the floor, getting a feel for things.
Frank was fresh off of a gig with the Clinton administration where he served as Director of OMB. He was the first OMB director in recent history to preside over a balanced federal budget. I had met Frank in 1995, when I accompanied Van Skilling, head of TRW Information Systems, on a courtesy call to Washington.
“Frank,” I said, grabbing his hand like we were golfing buddies, “on behalf of the American people, I want to say ‘thank you for the balanced budget'.” We spent a few minutes chatting and I was able to introduce him to my boss, Dennis Gilmore.
For a brief moment, I was somebody, as Marlon Brando said in the movie “On the Waterfront.”
That’s the thing about trade shows: moments of success are, in part, a matter of luck. But, as the saying goes, luck is what happens when fortune meets preparation.
The Big Dance
The MBA National Convention was our prom. It was where we unveiled new products, made major announcements and signed big deals we had been working all year. The accountants may orient around a fiscal year, but our sales year began and ended with the MBA conference.
We would spend more than six figures on registrations, travel and entertainment expenses, promotions and a hospitality suite where we conferred with major clients. We invested far too much coin to set up shop and fish off the end of the pier. In the weeks leading up to the conference, we worked the phones to fill our meeting agendas, what we called our "dance cards.” We timed contract negotiations so we could hold signing parties at the convention, where our president would ink deals and establish executive alliances.
The cardinal sin was taking a co-worker out for dinner. Those were special times reserved for special clients.
When is your prom?
You must have one major trade show event that dominates your industry. Where anybody who is anybody is in attendance. There is probably no more convenient and efficient way to touch your customers and prospects than by working that show. Make it the centerpiece of your marketing plan.
What’s your plan?
There are a million details to attend to in a major trade show if you’re planning for success. You must define roles and responsibilities, drive to clearly-stated objectives and plan for contingencies (what happens if the booth doesn’t arrive?). It’s the kind of event that begs for a plan.
Everyone who attends has a role to play and must have their own set of objectives – or they don’t attend. If you’re displaying or demonstrating products, everyone from the president on down must be checked out and capable of speaking to features and benefits.
Your trade show budget (an all-up budget, including travel and people-cost) should be offset by revenue targets for new sales or renewals. If the return isn’t clear or realistic, cut the budget.
These events are not slapped together in the last week; they are scripted months in advance. Plan for success and create a sense of urgency. It’s exhausting, but worth the effort.
No comments:
Post a Comment