Market research is one of the most valuable selling tools a show organizer has. Up to the minute, accurate market data arms you with the type of valuable information you need to 'sell' your show to potential exhibitors, including who is attending your show, how well your exhibitors did at last year's show, and what type of sales numbers resulted from participating in the event. Savvy exhibitors -- those that can contribute meaningfully to the success of your show -- will want to know this type of information.
Any information you provide to potential exhibitors must be both timely and accurately. Unfortunately, hiring a market research team, especially on an annual basis, can be an expensive proposition. Doing the market research yourself can be time consuming and frustrating. What if there was a way to streamline the process, making it effortless and efficient for both you and your customers?
Enter the Internet. Trade show organizers have been woefully behind the curve when it comes to exploiting the Internet's potential for market research. As the Online Expo becomes more and more of an industry presence, it is imperative that show organizers incorporate Web-based elements into traditional shows to accommodate exhibitor needs, especially as they pertain to market research. The transition to a more virtual society has creating an expectation of instantaneous, accurate information -- an expectation that we need to meet if we are going to survive.
Here are five techniques you can use to meet this expectation:
Constantly Gather Information
Market research is not a once-a-year phenomenon.
The dynamic nature of the marketplace means that new exhibitors are constantly
setting up shop, while other companies that have exhibited with you for years may
run into financial difficulty. Use Google or other new-alert programs to Email you
when any of your exhibitors make news -- their prosperity (or lack thereof!) may
affect your show. At the same time, monitor news related to your show's location,
the demographics related to likely attendees, and other items of interest.
Make a commitment to reach out to your exhibitors at least quarterly via your Web site or targeted Emails. Invite recipients to participate in a poll, answer a survey, or give feedback. Many will, especially if the poll, survey, or feedback form is quick and easy to navigate. This gives you a steady stream of data throughout the year.
Invite Open Communication
Exhibitors and potential exhibitors should always know
how to reach you. An easily navigable website is a must for all businesses, but
imperative for show organizers. Consider having direct links to frequently asked
questions easily found contact options, and even 'live help' via Email chat for
the crunch time just before the show.
