Tuesday, 14. February 2017 | by: Alesja Alewelt | Exhibition Planning
Trade fairs give businesses the ability to present themselves in a favorable light and to make their specific products and services accessible to a wider public. Whether this involves a presentation to a specialist audience or the interested sections of the general public, the most important goals include building and maintaining relationships, increasing revenue, and carrying out effective marketing activities.
Exhibiting at a trade fair will only be profitable if predetermined goals are achieved. Achievement of these goals further depends on whether or not they are themselves realistic. Additionally, goals can vary significantly between different businesses, some may work hard to improve their image, while others aim to win new customers or increase revenue. The process of setting targets influences the concept that underpins the exhibition, as this concept should be driven by the most effective way to achieve these goals.
Targets should be SMART:
Specific: Targets must be specifically identified in writing to make them more identifiable.
Measurable: Success criteria must be clearly defined and measurable.
Aspirational: The expected outcome must be attractive and realistic.
Realistic: It must be realistic for employees to achieve the goals.
Time-bound: Targets must have a fixed time or date by which they should be achieved.
The following overview includes a collection of some of the most important targets that exhibitors might set, including measures that can be implemented to achieve the goals, and some of the possible consequences of the suggested approach.
If products will be sold directly at the fair, this should result in planned revenue within six months.
Actions: Targeted actions to encourage sales take place, with the sales team receiving bonuses for sales. Discussions around sales focus on finalizing deals quickly. Special event discounts are offered to support the sales process.
Outcome: Image-building goals are treated as less significant; only sales count. Sales people may become pushy because they are under pressure to demonstrate results. The booth is dominated by advertising for special terms and discounts. Beware of damaging your image.
At least 60 new customers will be acquired at the fair, generating a minimum order value of €50,000 within six months.
Actions: Sales people receive bonus commission for orders placed before a certain date. Sales will generally be concluded away from the event itself. Sales people are trained in collecting addresses. Favorable terms of sale and discounts are offered.
Outcome: Freebies and promotional materials are used to create a lasting effect. Medium-term sales are a priority. Sales people must build trust in order to generate follow-up appointments.
At least 60% of visitors will express a positive opinion of the business.
Outcome: Medium- to long-term sales are prioritized, and investment returns are only generated over a longer period.
At least 30% of event visitors show awareness of the brand even after leaving the event.
Actions: The brand dominates the booth; sales people and advisers continually highlight the brand. The purpose is to raise brand awareness and to collect customer contact details. Freebies are given out generously.
Outcome: The brand dominates the layout of the booth, alongside many additional marketing and advertising tools.
60% of visitors to the booth understand how the product is created and what criteria it fulfills.
Actions: Sales people must receive training on active communication, which they use to continually draw visitors’ attention to the unique characteristics and values of the brand and the business.
Outcome: Medium- to long-term sales are prioritized, with a focus on customer loyalty. The booth layout must convey the core message.
At least 40% of visitors will contact the business within four months.
Actions: Advice on the stand is aimed at generating follow-up sessions and covers the entire product range. Customers must be able to receive appropriate advice in their own regions and understand where to go for it. Welcome gifts are on offer.
Outcome: Only initial consultations are possible here. Further consultations must be offered on-site at the sales location.
provided by FAIRworldwide GmbH
About Alesja Alewelt
Alesja Alewelt, M.A., has been an event manager for over 15 years. In 2008, she founded the Bremen based event management agency, FAIRworldwide, successfully specializing in stands that are shared between multiple exhibitors. Her previous, extensive experience includes working as an event organizer in Munich, Germany, and Melbourne, Australia. Alesja Alewelt is currently involved in creating new concepts to optimize business processes for the sector, with a focus on the use of new technologies.
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