The Science of Marketing

In any given industry, especially high tech, there are a handful of trade shows that are considered "must-go’s". But deciding on whether or not to commit the budget, create the demonstration and exhaust the feet of your staff can often be a shot in the dark. Sure, media companies offer plenty of statistics on how many "qualified attendees" will be buzzing by your booth, but it all depends on how you define qualified. And while last year’s event brought 500 "leads" into your pipeline, how many just dropped by to trade their e-mail address for a free T-shirt? When it comes down to it, the decision on whether to take your company’s act on the road to Vegas, Phoenix or Orlando is often based on feel. Here are some considerations that may help you feel out the decision.

1. Will you be missed? Sometimes the reason to go to a trade show is simply because your company will be noticeably absent if you don’t. If all of your competitors and most of your partners are on the exhibitor list, it’s probably worthwhile to have a presence. Many would discount this, but you can’t ignore perception. And, like it or not, sometimes if you’re not there, you’re not a player.

2. Are your best customers attending? If so, it may be worth using the venue to arrange meetings and evening events that give you much needed face time. Often times it’s easier to arrange a meeting at an event than at a customer’s location. And, meeting at events can help preserve your precious travel budget.

3. Is the show a media frenzy? When the relevant press and analysts in your industry all gather in one place, it’s a good opportunity to book briefings and fill them in on what’s new. But it’s tough to compete with all the announcements that hit simultaneously around a trade show. Use the venue to improve your relationships, and save the major launches for a quieter time.

4. Was last year more than a boondoggle? Ask your sales team about last year’s show. If the event led to real business, then by all means go. If the best stories you hear involve golf or parties, you have your answer.

5. Are potential business partners attending? Trade shows provide a great venue for partner development. Where else can you check out the products that complement yours and meet the executives with whom you want to align?

Of course, going by feel is a slippery slope. The best marketing organizations are building and managing databases that track leads from inception through a sale or a loss report, and beyond. If you really want to know how effective an event is in generating quality leads and real business, skip one trade show and use the time and money you saved to launch a database marketing effort to learn where your best leads originate. (More on this later.)

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