Increase Exhibit & Sponsorship Sales with Sam Lippman and Jason Stookey, NAB (IAEE 2014 Luncheon)
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This presentation shares survey data from exhibit and sponsorship sales professionals on prospecting tools, price increases, and new methods of adding revenue.
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Increase Exhibit & Sponsorship Sales with Sam Lippman and Jason Stookey, NAB (IAEE 2014 Luncheon)
- 1. 7 Ways to Increase Exhibit and Sponsorship Sales
- 2. 7 Ways to Increase Exhibit and Sponsorship Sales IAEE DC Chapter Luncheon May 9, 2014
- 3. Agenda • Self-Introductions • Overview of Exhibit Survey’s Study • Sales Training • Prospecting • Differentiated Pricing • Sponsorships • Proving ROI
- 4. Audience Polling: Who Are You? • Show management • Venue/Hotel • Contractor/Supplier • Other
- 5. Audience Polling: Years of Experience • 0 – 3 years • 4 – 7 years • 8 – 12 years • 13 – 18 years • 19+ years
- 6. • 37 years producing exhibitions, conferences, forums, a nd roundtables • Produced International CES, GRAPH EXPO, and PRINT • Consults in strategic planning, management, and marketing • Facilitates board meetings, user groups, and attendee and exhibitor focus groups • Produce by-invitation events for the exhibition industry Sam Lippman Founder and President Lippman Connects
- 7. Connect. Inspire. Succeed. The platform to increase exhibit and sponsorship sales The meeting for large show managers Find. Attract. Retain. Grow
- 8. • 18 Years of Tradeshow Industry Sales Executive Experience. • Worked previously for International CES, Hanley Wood Exhibitions and TNT Productions Inc. • VP, Sales at NABShow since 2011. • During this time NSF has increased 21% and Sponsor Ad revenue has increased more than 226% Jason Stookey Vice President, Sales National Association of Broadcasters, NABShow
- 10. Key Findings Exhibit Sales Survey Measurement Average Results Percent who Do Not Change Exhibit Price Year to Year 55% If Price Increased, % Change in Exhibit Price Year to Year +2% Percent who Do Not Change Sponsorship Price Year to Year 77% If Price Increased, % Change in Sponsorship Price Year to Year +2% Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 11. Key Findings Exhibit Sales Survey Measurement Average Results Average Exhibitor Retention Year to Year 80% Average Net Profit 42% Percent of Total Revenue Provided by Exhibit Space Sales 66% Percent of Total Revenue Provided by Sponsorship Sales 16% Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 12. Sharpen Your Saw • Training defined • Outsourced service
- 13. Sharpen Your Saw • Internal resources / internal training / self-training • Internal audit – Do you have everything you need to succeed? • Role playing • Free resources: e.g., LinkedIn groups
- 14. Two-thirds (68%) Provide Sales Training 32% 13% 28% 38% No, Training is Not Provided Other Training is Provided via an Outsourced Service Training is Provided In-House Sales Training Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 15. Prospecting Sources 67% 65% 58% 44% 24% 18% 13% 7% 6% 4% 10% Competitive Event Directories Industry Publications (Print) Industry Publications (Online) LinkedIn Other industry organizations Hoovers/Dun & Bradstreet Other Social Media Other Online Tools Data.com (Jigsaw) Exhibittrac Other Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 16. Using Social Media for Prospecting • Do you know your customers? • Do you know their objectives? • What keeps them up at night? • What are their goals? • Where else are they making investments?
- 17. Usage of Differentiated Pricing Not Using or Planning to Use, 64% Currently Using, 24% Planning to Use, 11% Not Aware of Practice, 1% , 0 Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 18. Usage of Differentiated Pricing Sample comments regarding reasons for not using: • Internal disagreement on benefit of this marketing strategy. • Seems to devalue less desirable locations in the event if specific locations are priced less. • Want to learn more about this strategy before considering it, especially the disadvantages. Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 19. Sponsorships • Mobile Apps • Digital Platforms (including listings, video, dedicated emails) • Yearlong social media exposure • Education stage and classes on show floor • Wi-Fi splash screen and charging kiosk logo • Café/Restaurant • Bag inserts with exhibitors’ materials • Bathroom door clings • Hotel sponsorship (elevators, door drops, key cards, etc.) Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 21. Proving ROI 86% 74% 53% 38% 33% 31% 23% Attendee demographics Attendee purchase plans/ buying influence for specific products Analysis of total leads gathered at the event Attendee traffic patterns Sales conversion research Exhibit performance studies for anchor/ bell weather exhibitors Third-party industry research by analysts Potential Effectiveness of ROI Measurement Methods (Rated Extremely/Very Effective) Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 22. Techniques to Help Prove ROI • Testimonials/referrals • Case studies • 3rd party audit • Pre-show exposure data • PR – press mentions, social media measurement • RFID tracking of attendees’ traffic/show activities • Exit interviews • New product introductions • Explaining data given to exhibitors Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 23. Challenges for Proving ROI (Exhibit Sales) • Exhibitors focus on increased costs • Proving the quality and quantity of attendees • Competing with other non-show marketing/advertising opportunities • Mergers of companies in industry = fewer buyers • Exhibitors downsizing space to save costs • Decreasing marketing budgets for live events • Exhibitors more interested in program content than exhibit floor Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 24. Challenges for Proving ROI (Sponsorship Sales) • Need data on audience behavior/likeliness to buy • Demonstrate value of previous events, forecasts for future events • Offering new ideas/opportunities • Hard to “paint the picture” of new offerings for potential sponsors • Expand the number of exhibitors buying sponsorships Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 25. Challenges for Proving ROI (Sponsorship Sales) • Price – budget constraints • Expanded price points of offerings • Healthcare industry legal requirements/The Sunshine Act • Stronger digital content strategy to build online synergies • Possible trade-off with booth sales • Finding the right person to approve sponsorship buy Source: Exhibitor and Sponsorship Sales Metrics and Practices Study (Fall 2013)
- 26. Questions? For more information, contact: sam@lippmanconnects.com jstookey@nab.org
Editor's Notes
- Sam gives overview
- Sam….
- Sam….
- Thanks for the opportunity to speak and fill in for Dan…..tell anecdote about how I joined the tradeshow industry through Eric Udler….worked at both for profit and association representing shows of multiple sizes. Fortunate to join NABShow in 2011 as the event is undergoing a renaisance.
- Provide brief background on NABShow……947KNSF, 98K attendees, 1,500 plus journalists…..represents the entire content lifecycle (I’ll explain and give example of key exhibitors and attendees).
- NABShow constant struggle to evalaute value as we are pushing upper limits of price points. Looking at other options beyond just NSF rates to generate revenue.
- NAB has a healthy retention rate during on-site space sales, but through organic growth and retention sales another 500+ companies are sold through out the year.
- NAB needs to do more but we do use outside sales training as budget allows. Regardless we have a standing Monday noon sales meeting. It’s a state of the union, what are you hearing etc. Frequent 1/1’s. A bit tough because of schedules but they happen on a frequent basis. I have a library of books that I share with the team when appropriate….using the Dan Cole school of sales “Rhino Success” is the sales bible, but books like Jack Welch “Winning”, Sun Tzu “Art of War” are more inspirational books that I have read. For or better for worse I personally find most sales blogs/motivational speakers “hokey” but that’s just me.
- LinkedIn is huge and easy to access decision maker……data.com is one we have our eye on especially given how it feeds into Salesforce.com
- Even before your first call you can find out so much info about your customers so you can tailor your solutions to their needs. Smiling and dialing is dead. Waste of time. Buyers are too smart. Make follow up calls, not cold calls…..always provide a nugget of value.
- I can share our case study experience.
- All fair statements. But the pricing model is proven in other industries. Ironically, as NAB evaluated this option we came to undesrtand that we already offer differentiation….not going to share the entire secret sauce!
- Traditional sessions sponsorships, extensive on-site branding, to an amazing experiential event touting all aspects of NAB Show
- We work with Skip Cox in particular to do variations of Sales Conversion studies for top exhibitors.
- Aggressive compensations packages that have specific metrics beyond revenue…..retention, new biz dev, key accounts visits…..doesn’t matter of travel budget key data can be shared through WebEx, DropBox, Skype etc…..Use it!