Show stopper

Thomas R. Cutler looks at the value of tradeshows, and offers some suggestions for getting a return from the time and money invested in them. The best tradeshow, seminar, expo, or event can be incredibly valuable in gaining knowledge, interfacing with vendors, suppliers, and customers, and developing new clients and sales opportunities. The wrong trade show, however, can be a huge waste of marketing, travel, and human resources. The objectives of tradeshow attendees are diverseÔÇöfrom CFOs looking to cost justify every expense, to contract manufacturers looking to secure vendor/supplier relationships that have the capability to produce highly specific OEM drawing requirements.Value versus expectationsFew organizations clearly identify the metrics of success prior to attending a tradeshow. Without clearly delineating what is expected from this expense, results are often reported as disappointing. Common expectations that are rarely accomplished at national and international tradeshows include:ÔÇó Extensive quality sales leadsÔÇó Signed contracts or agreements for new businessÔÇó OEM vendors or suppliers with time to discuss specific deliverablesÔÇó Senior executives (rather than sales representatives) to engage in strategic alliances.Some tradeshow advocates, like Shari Walters, recommend attending a tradeshow even if a company needs to hire temporary help. ÔÇ£The benefits of attending a trade show sponsored by vendors or industry associations far outweigh any reason not to attend,ÔÇØ she asserts. ÔÇ£These conferences have been developed in order to give owners, buyers and managers the opportunity to meet existing suppliers, conduct business meetings, network with others in retail and investigate new products.ÔÇØTradeshow Week, the industry publication about the tradeshow business, recently cited Dick Blouin, president of 1105 Events who noted, ÔÇ£Gone are the days of massive high-profile computer shows, such as COMDEX. They have been replaced by specialized vertical events in key market sectors. Smaller shows that engage targeted audiences are less vulnerable to a fickle economy.ÔÇØ A good starting point for determining possible tradeshows to attend is TSNN.com, the leading online resource for the trade show, exhibition and event industry since 1996. The Trade Show News Network (TSNN) owns and operates the most widely consulted event database on the Internet, containing data on more than 15,000 trade shows, exhibitions, public events and conferences. It also offers over 360,000 seminars through a strategic partnership. TSNN.com helps facilitate the exchange between buyers and sellers to achieve a successful venture with over 137,000 registered website users, 35,000 bi-monthly newsletter subscribers and LinkedIn groups. Kati Olson, president of AmCon Expos, a series of a dozen regional tradeshows for contract manufacturers, insists, ÔÇ£Attendees should plan on hands-on, face-to-face time with vendors, suppliers, exhibitors and get into the details of a project. Attendees must bring their blueprints, supply chain issues, and OEM production requirement for review by the technical people staffing the events. Serious working shows where a lot can be accomplished in a very short time, make for the most valuable tradeshow experience.ÔÇØ Whether looking for a sinlge part or a production run, attendees of these events want to find multiple sources from which to choose. Olson insists that, ÔÇ£Tradeshow attendees must have a unique opportunity to investigate a variety of manufacturing options, both new and traditional, and find the best processes and materials for specific applications. Attendees must be able to view actual samples of products that have been produced for other OEMs in their industry and can get quotes on current projects and compare quality, pricing, and lead times from multiple vendors all in a few hours.ÔÇØTradeshow advice: plentiful for exhibitors, little for attendeesThere is no shortage of tradeshow consultants to advise companies how to exhibit effectively and find return on investment cost-justification for purchasing square footage at a myriad of tradeshows. ┬áCommon coaching advice to tradeshow exhibitors includes six questions to help qualify buyers: 1. What is the nature of the prospectÔÇÖs business? 2. Do they influence the buying decision? 3. Is there a need for the product or service? 4. Is there an application for the product or service? 5. Is there a budget for the product or service? 6. Is there a time frame for the purchase? These are generic tools for exhibitors and fail to guide the process for tradeshow attendees. Such data are remarkably sparse and often biased. ┬áChristine OÔÇÖKelly is an author for Jonathan Edelman, trade show marketing consultant, who wisely suggests, ÔÇ£There are several things common in trade shows that will assist a business in deciding the main factors that drive people to and from a trade show exhibit. While working out a marketing plan for a trade show exhibit, businesses should jump into the shoes of the attendees instead of executing an exhibit that works only for the business.ÔÇØ ┬áWhile tradeshow event promoters are not famous for publishing negative feedback, there is enormous value in understanding the direct value received by former attendees. Testimonials can provide specific insight to what is gained from attending an event. Eric Smitt, Sr. Electrical Engineer for Lockheed Martin Space Systems, recently provided his rationale for attending a regional AmCon Expo noting, ÔÇ£I came to the show to find alternative contract manufacturers for some of our products that will be built in the future. I found a good mix of contract manufacturing servicesÔÇömetal, sheet metal, finishingÔǪeverything you really need for manufacturing a product.ÔÇØ The only reasons for a disappointing tradeshow are false expectations. Clearly identified outcomes allow companies to obtain the best results. In general, stay close to home; local or regional events often offer the best results for the time and money invested.