CHICAGO — The Exhibition Industry Research Center (CEIR) has published the second report of its Series on Sales Approaches to Exhibitions and Sponsorshipdetailing the effectiveness of exhibition stand and sponsorship sales approaches for B2B trade show organizers.
The report found that sales teams use an average of three to four approaches to sell trade show booths, with remote-assisted selling proving to be the most effective for generating revenue. According to the report, 93% of respondents said phone calls were effective, 89% said emails were effective, and 84% said video conferencing was effective.
Using a self-service online approach for exhibition stand sales was deemed effective and revenue-generating by 84% of organisers, while an in-person approach was cited as effective by 85% of respondents, showing that online sales rival in-person sales in terms of effectiveness.
For sponsorship sales, sales teams use an average of four approaches and report that staff-assisted sales approaches are most effective at generating revenue, such as phone calls (92%), emails (85%), video conferences (84%), and in-person meetings (83%). The CEIR report found that self-centered online approaches to sponsorship sales are less effective at generating revenue than booth sales.
Related. CEIR’s Exhibition and Sponsorship Sales Approaches Report reveals key revenue drivers to guide sponsorship deals
To increase revenue from booth sales and sponsorships, trade show organizers maximize the appeal of offerings by aligning them with exhibitor and sponsor goals. When examining the exhibitor and sponsor goals identified as most effective in driving booth sales and sponsorships, branding, lead generation, and face-to-face engagement topped the list. Next in line were new product promotions, industry thought leadership, sales, product experience, and partnership opportunities.
The CEIR report found that when targeting new prospects, reviewing job titles can help organizers identify who to contact early on. Marketing and communications management job titles were identified as the most effective for generating sales at events by 61% of respondents, sales management by 40%, and general management by 28%. Based on these findings, CEIR advises show organizers to reach out to sales leaders.
When analyzing techniques to maximize booth and sponsorship sales, creating a sense of urgency ranked as the most popular, followed by peer feedback and real-world examples and systematic outreach to cold prospects via tech support. Organizers can create a sense of urgency by prioritizing on-site booth space selection, price promotions or other closing incentives, and priority booth space selection held at a set time after the event via online video.
“This new report addresses the issue of how exhibitions and sponsorships are sold,” Nancy Drapeau, IPC, CEIR vice president of research, said. “Which options are most effective: staff-assisted sales options, online self-service options, or a combination of both? Some of the findings are provocative and will inevitably spark discussions during sales planning. The report also provides guidance on other areas that drive sales: new job titles to target and messages that tie into exhibitor and sponsor objectives.”
To download a copy of the report, click here:
Contact Nancy Drapeau at ndrapeau@ceir.org