According to The Center for Exhibition Industry Research (www.CEIR.org) exhibitors’ number-one objective today is lead generation, and their number one problem is lead follow-up.
Go figure. Companies are exhibiting in trade shows to generate leads—then not doing what’s necessary to assure follow-up of their leads that actually contain the ROI they need to justify the cost of the show and everyone is losing.
The consequence? Just visit a trade show today and look at the empty booths from exhibitor no-shows that have been converted to resting places for show attendees.
The pervasive problem of lead followup (and huge opportunity for trade show organizers) is apparent in the following statistic from Reed Business Information Systems. “More than 70 percent of leads go un-contacted, while 43 percent of those not contacted buy what they inquired about within 13 months.”
You may have to read that statistic again as huge amounts of exhibitor selling opportunities (after the show) are being missed in leads that aren’t being followed up, from almost 50 percent of visitors that prove to buy as a result of the show.
Based on more than two decades in the lead response management service business, and the processing of more than 1,000,000 sales leads for companies across the country, this writer can prove from statistics that “trade shows are the most cost-effective form of marketing communication today.”
Unfortunately, trade shows are also the most expensive form of marketing communications, and a line item on company budgets that is being scrutinized like never before by financial management that still looks at trade shows as side-shows of extravagant spending with no measurable ROI.
The opportunity in all this for show organizers is in providing the education to their exhibitors that seem to be doing the same thing with their leads after a show that they have always done—expecting different results.
They send literature in response to their leads, and then throw the leads over the fence to their sales department to sort out. Some exhibitors invest in lead retrieval systems and expensive CRM and Contact Management Software programs that prove only to get the leads to their sellers faster, so they can do nothingwith them sooner, as evident in the aforementioned poor lead follow-up statistic.
Some show organizers might criticize the non-productive behavior of their exhibitors as something they need to sort out on their own; while smart show organizers are helping their exhibitors with the education they need to prove the value of trade show exhibiting.
Far beyond the “Boothmanship” training of old that focused more on color coordinated jackets and shiny shoes, progressive show organizers are providing exhibitor education that includes lead follow-up best practice methodology.
The lead follow-up education can/should be:
• Included as a seminar presentation in an existing exhibitor education/training program.
• Conducted as a seminar or workshop at show site, during setup, so exhibitors can implement what they learn on the show that’s about to take place.
• In the form of a free online Webinar that demonstrates the show organizers concern for their exhibitors’ success.
Clearly, exhibitors are not receiving the education they need from within their companies, so it’s time that show organizers seize the opportunity and help to educate their exhibitors as a subliminal form of exhibitor retention. Because it’s a lot easier to keep exhibitors in shows, then it is to get them back in the show.
Richard Erschik is a speaker, educator and consultant on the pervasive problem of sales lead follow-up. Contact Richard at rerschik@richarderschik.com or www.richarderschik.com