Page 52 - MetalForming June 2009

Michael Bleau has served manufacturing and consumer- related industries since 1986. Prior to forming Industry Scope, a strategic b2b and b2c sales and marketing consultancy, in 2002, he held executive positions for several automation and press manufacturers. Michael regularly consults with manufacturing companies on strategic planning, sales and marketing, brand and product development, PR and sales-channel development. Industry Scope
tel. 810/397-1429 mbleau@industry-scope.com www.industry-scope.com
If you haven’t finished planning for the November METALFORM show in Chicago, don’t worry, you still have time. But it’s dwindling fast, so better get a move on! And, if you’re undecided on exhibiting at trade events due to the recession, then think again. Done right, trade events can bring your best return on promotional spending investment, but you need to really establish why you’re at these shows—what is your primary objective?
According to Skyline Exhibits’ senior marketing consultant Jennifer Kilbride, each year companies in the United States and Canada spend $170 to $190 billion on promotional events com- prised of trade exhibitions, conferences, regional and private shows—up from 2007’s $135 to $150 billion. According to the Center for Exhibition Industry Research (CEIR), whose census of exhi- bition attendance and revenue sets the industry standard, over the past 40 years the percentage of attendees with buying plans has not changed significantly in times of recession.
And, thanks in part to the economy, buyer density has increased as multiple major events have consolidated into mega events, such as the alignment of FABTECH International, the AWS Welding Show and METALFORM. In this case, the combination of metal- forming, fabricating, tube, pipe and welding suppliers and buyers under one roof makes it easier and more efficient for buyers and exhibitors to justify attending. It’s a great mix where all can accomplish much more by spending only a few days of floor time.
Accompanying the mega-event trend is a reduction in buying teams. Many
companies have, due to workforce con- solidation and travel-budget limita- tions, cut their buying teams and are sending more informed duos or sole decision-makers. More qualified buyers and less bureaucracy adds up to a more compelling value proposition for trade events. But this is only half of the story; careful planning and execution reduces stress and frustrations and brings max- imum results.
With empowered decision-makers attending shows and 70 percent of them planning on spending, why do exhibitors sometimes beat around the bush? Are sales professionals exhibiting to make an appearance for the sake of brand rein- forcement, to stay on someone’s radar, to introduce a new product or capabil- ity, to display a ‘living’ advertisement or
THE BUSINESS OF METALFORMING MICHAEL BLEAU
Trade Events: Maximize Results by Closing New Business
The Numbers on Event Value
• 77 percent of visitors have some level of buying power and 70 percent of these visitors intend to buy within the next 12 months.
• Prospective buyers spend 8 per- cent more time on the show floor than they have in years past.
• On average it costs $212 per lead from a show versus $308 for the same lead generated from field sales.
• On average it costs $705 per sale from a show versus $1140 for the same sale closed from field sales.
• 66 percent of marketers feel that fewer sales calls are needed to close a sale from a show lead.
Source: The Center for Exhibition Research (CEIR) and Skyline Exhibits, www.ceir.org and www.skyline.com
50 METALFORMING / JUNE 2009
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