Trade show value, attendance, and most interestingly, first-time only visits, are rising steadily. Many KPIs have now exceeded 10-year highs not seen since 2006. 'Netflix’ization' of the buyer decision journey is steadily conditioning trade show attendees, and exhibitors share mixed views on best practices.
Today we expand on our previous post about trade show trends, and share some best practices for lead generation while attending a trade show.
If you missed our post last week CLICK HERE to read about the trends, opportunities, and challenges shaping the trade show industry and sales presentation tactics.
The Value of a Trade Show
Exhibitors are realizing there is no value in pushing a sale during the trade show, and as buyers are now spending more time at trade shows, they are also going to be expecting the seamless and self-directed experience pioneered by digital content sales and marketing online.
The primary objectives for trade show exhibitors today:
- Brand Awareness
- Lead Generation
- Relationship Building (Source: TSNN, 2013).
It’s interesting to note that these are also the objectives for inbound digital content marketing, but it makes sense considering the preferences of an empowered buyer.
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Lead Capturing Tactics – Pros and Cons
(Sources for Tactics and Best Practices: TSNN, 2013; FormAssembly, 2015; and, SmallBusinessChron, n.d.)
There are four prominent lead capturing strategies to employ at trade shows. Some exhibitors may prefer a blended mix, while some solutions include a blended mix as part of the sales rep software. The top tactics are:
- Pen & Stapler
- Web Form
- Lead Capture Software
- Sales Enablement Software
Pen & Stapler
This is the traditional business card and note taking strategy. You may leverage a comfortable and familiar conversation style with an approach that is more personable and intimate. You take notes on paper and staple the attendee’s business card. This approach may help to introduce a printed lead form to fill-out.
Pros:
- Low cost and low tech, simple to administer and teach, especially if the exhibitor isn’t comfortable with technology;
- May allow for a more personal approach if the exhibitor is adept at impromptu conversations.
Cons:
- Could be time consuming during the form fill-out process;
- Questions may be forgotten, crucial information could be missed;
- Hours of manual intervention are needed after the trade show to update CRM and follow-up; and
- Doesn’t directly inform the sales team about interaction details.
Web Form
Many prominent exhibitors swear by the use of an online web form. This is essentially the same approach used by inbound digital content marketers. You ask the attendee to answer questions, most likely via a tablet or laptop, and upon completion they may receive a gift such as a whitepaper or other content through email.
Pros:
- Streamlines the lead capture process and ensures that relevant information is captured;
- Allows greater freedom to engage more distributors;
- May update CRM automatically, saving time and effort later; and
- May integrate with Marketing Automation, allowing for a lead nurturing campaign to take root.
Cons:
- Dependent on internet access, trade shows can often have spotty internet connection;
- May miss crucial questions and details that must be added into CRM later;
- Digital content sent may feature generic content and could be lost in the attendee’s inbox or junk mail;
- Does not allow for complex in-person discussions with quoting and buyer-specific interactions
- In our last post we found that 76% of attendee’s asked for a price quote at the event;
- Any additional details would need to be manually inputted; and
- Doesn’t directly inform the sales team about interaction details.
Lead Capture Software
This can come in two forms:
- A 3rd party application leased or owned by the exhibitor; or,
- A software application provided by the trade show venue.
With the former, the exhibitor may use an app created by a 3rd party (or sometimes created in house) that can include any number of features including image capture of business cards, OCR, CRM integration for data backup, form fill-outs, and follow-up automation.
The latter is a trade show specific benefit whereby the attendee’s visitor card includes an RFID chip or similar, and exhibit visitors can scan the RFID to immediately capture lead details. This is typically an added cost for exhibitors and may or may not include similar features to a 3rd party app. This kind of application tends to include an automated lead printout for use later.
Pros:
- Can automate the lead capturing process, may include form capture details;
- May include CRM integration and automated follow-up;
- May work both online and offline with a cache of data;
- Can allow the conversation to keep going without stopping to fill out details on a page or screen; and
- May allow for content to be sent to a lead after capture.
Cons:
- The program may not do the items listed in the Pros section;
- The application may require download to a device, and a device may not be supported;
- This kind of application cannot be used as a sales support device, and you cannot engage the contact with buyer-specific discussions and digital content on the spot (such as complex quotes or case specific benefit details);
- Limited insight into what was communicated to the buyer at the trade show. Risk of duplicate account inputs; and
- Does not have CRM access meaning that you cannot continue a discussion with a past lead.
Sales Enablement
Sales Enablement is a digital content management sales rep software that opens any digital content on any device, integrates with CRM and Marketing Automation, and allows a sales rep or trade show exhibitor to initiate a sales presentation or capture a lead in person. If you’re unfamiliar with Sales Enablement, CLICK HERE for more.
Pros:
- Changes the interaction from lead-generation only to full digital sales accessibility.
- Supports the use of web forms and 3rd party apps from within the environment, so device restrictions are reduced or eliminated.
- Integrates with CRM and Marketing Automation, and immediately tracks all digital content interactions with that lead.
- Consolidates account details on the device so you can engage a past lead with current awareness.
- Sales analytics software enables duplication of best practices for future trade shows.
Cons:
- Initial costs are likely greatest among the four examples.
- Higher learning curve as compared to other methods.
Trade Show Lead Generation Best Practices
Your choice of tactics will depend on your current company size, needs, and maturity with digital content marketing adoption.
Regardless of your choice, there are some universal best practices to adhere to when capturing leads at a trade show.
1) Pre-Show Promotion
Before the show, leverage your existing subscriber lists, social media, and available leads. Invite anyone to come to the exhibit and interact in person. You can use a small promotion like a special gift if they bring a copy of the email etc.
This is a great opportunity to meet some of your not-so-close contacts, and leverage a strong sales acceleration tactic.
2) Always Provide Value
One of the six elements of persuasion is reciprocity – someone will feel more inclined to act if they are returning a favour. If you want to capture the details of a lead, it’s a good idea to provide some kind of value in return. The simplest form is a free trial at the show, but digital content sales tactics like whitepapers etc. also apply.
In many cases you can learn about the lead and share specifically targeted and relevant content, instead of general content for the trade show or industry.
3) Simplify the Form
Although you may be using a Pen & Stapler method, you can still add huge value to the trade show by planning your form process.
Talk to Sales – Before the show speak to your sales teams and find out the type of information they would like to receive about potential leads.
Yes/No Questions – Design your form with simple yes/no questions to ensure the right information is captured swiftly and easily.
Automated Lead Systems – Make the information capture process an automated ordeal, and let the trade show exhibit staff do more talking and less manual paperwork.
Customizable Interfaces – If your solution allows for it, let the exhibit staff customize the lead capture software being used for new lead details (like form question changes).
4) Update CRM
You always want to input all relevant data to the CRM. This kind of detail enables the sales team to continue the discussion later, but remain contextually relevant to the trade show interaction.
Closed Loop Marketing – Enhance your current sales process with a solution that automatically writes CRM and Marketing Automation for sales and marketing alignment benefits.
5) Follow-up
Perhaps the most surprising fact from our last post was that 90% of trade show attendees received no follow-up within 12 months of their visit. Whether you have digital content management software on hand that enables on-location digital sales and multi-channel, or you follow-up later at the office, this step is crucial to developing the relationship.
Which Tactic do I Use?
This question largely depends on your current circumstances. Some people are just more comfortable with Pen & Stapler formats, others like to merge digital and traditional styles. If you’re balancing a large library of customer specific material, I’d suggest Sales Enablement Software, as you can always implement additional solutions within one environment, and still access your CRM on location.
If time is short and you have a trade show this Monday, consult with the venue and ask if they have a lead capture solution available.
I hope this 2-part overview on trade show lead capture helps. Please share your feedback to our LinkedIn page, and let us know if you had any other methods not covered in this article.
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