Reason 8: SELECTED BUYERS
As participants of trade shows you must certainly be wondering how to regain new business partners and increase the return on your trade show performance investment. There is also a known rule that acquiring new customers is much more expensive than the process of keeping the existing ones. Today your potential congress customers also have available almost unlimited world congress offer.
[pullquote]In the field of searching for new business partners, business trade shows are one of the key tools. At the business event, hosted buyers are the centre of the world. Therefore, we say that the congress trade shows are “hosted buyer driven”.[/pullquote]
The organizers are thinking how to fully satisfy the buyers. Basic is an understanding of their needs and expectations. But it all starts with clearly defined criteria for the participation of invited buyers. It is important to know the structure of buyers and the ratio between corporate buyers and those from professional associations.
Therefore, the basic tool of organizers is a powerful CRM system. Its foundation is a detailed segmentation of buyers.
In addition, a comprehensive communication infrastructure is needed, which includes the integration of different communication tools into an operational system. The aim of the organizers is to attract as many buyers with high purchasing power as possible. To this end, the organizers are carrying out extensive marketing campaigns. The key activities include co-operating with group co-ordinators who are experts in specific target markets.
Interactive communication allows the company to obtain feedback directly, so the complete digital analytics is of utmost importance including an analysis of social networks. A very important factor for success is regular communication.
An interesting fact about the quality of a trade show is the process of selection of hosted buyers. At the Conventa trade show, we on average reject more than half of all applications. The record was in 2013, when we rejected as much as 57, 8%. We only select those with a genuine and profound interest in the region. Even the good data about buyers does not mean anything without the proper knowledge and analytical model, which helps in making decisions on the selection of buyers.
Good news about a particular business event is rapidly expanding. Satisfied buyers tell about their positive experience to a wide range of new potential buyers. Of course it works both-ways and even faster than positive news spreads negative information.
FACT: 1.437 invited guests visited the Conventa trade show in six years. RESULT: According to Conventa statistics, a min. 10% of all conducted meetings is in the long-term realized in the form of sales. On average, this means 2, 2 successful meetings. Based on the assumption that it is a one day event with 50 participants, which according to the analysis of the Ljubljana Tourism on average spend EUR 383, 60 per day (excluding transport to the destination), this means that average yield of the trade show is at least EUR 57.540 per exhibitor. IMPACT: It is a couple of times more difficult to acquire a new customer than to retain an old one. In obtaining new buyers Conventa is a key tool.
About the author:
Gorazd Čad is a veteran convention tourism addict. Founder and owner of the marketing and congress agency TOLERANCA MARKETING, he has numerous years of experience in the planning, preparation and execution of major international trade shows and fairs. Having started his career in Cankarjev dom, where he project-led on fairs such as Infos, Kapital, Bits & Fun, Slovenian Wine Festival and many others, work in his private capacity has given him a long and multi-faceted experience of developing B2B trade shows, the most noteworthy of these being Conventa, Space, Natour and Hot-Rest. B2B selling solutions sit at the heart of the action of his work and are the key specialisation with proven added value and measurable results.
REASON 1: THEY SAVE YOU MONEY
REASON 2: THEY SAVE YOU TIME
REASON 3: NO HIDDEN COSTS
REASON 4: YEAR ROUND PROMOTION OF PARTNERS
REASON 5: BUSINESS NETWORKING
REASON 6: CONTENT MARKETING