Spending Marketing Budgets
It’s that time of the year again to start thinking about Marketing plans and budgets for 2009. Just on budgets, B2B Marketing Budgets – Data from SiriusDecisions shows statistics on how B2B marketers are allocating their marketing budgets. Although it’s probably US figures, it’s quite accurate when comparing it with my spendings here in Singapore.
According to the stats, trade shows contributed to the largest spend in lead generation budgets. (For me, trade shows spending rank just slightly below Email marketing). It’s not surprising at all, considering the high 4 to 5 digits cost of a regular booth or table top, and not to mention the even more expensive silver/gold/platinum sponsorship packages.
B2B marketers still see trade shows as a necessary evil: For brand awareness, building a database, or lead generation. But most of the time these shows cannot pay for themselves, let alone generate positive ROI.
Having said that, the game is not over. The secret to trade show success is to think END-TO-END INTEGRATION. Don’t participate in a trade show as a standalone activity. The show itself is just a part of it, consider pre-show and post-show promotion.
Here’s some examples of what you can do for pre-show and post-show promotion:
- Host pre-event and post-event webinars
- Organise online contests and quizzes
- Communicate to your base. Send out special invites to clients and prospects
- Publish your participation through existing business communication like your website or newsletters
- Offer special product/service packages to attendees
- Complement with any other upcoming or on-going campaigns or product announcements
You will also need to do some math by calculating estimated costs per potential qualified contact. And don’t forget your At-Show strategies.
To find out more, download Ruth P. Stevens’ webinar recording on Exhibiting for Bottom Line Results.
So there you go. Your 2 days trade show has become a 3 months campaign. But it’s worth it. Like what Tim Gunn on Project Runway says… “MAKE IT WORK!”
Tags: budgets, marketing, trade shows, webinars
September 7th, 2008 at 1:53 pm
Hi Jasmine, like the saying goes ” Make your Money invested work harder for you”, how true!
I reckon this applies to any other kinds of roadshows, where the emphasis on pre and post roadshow activities are equally important to make these roadshows/tradeshows a truely successful one!
September 7th, 2008 at 3:40 pm
Yes absolutely, well said indeed. Did you enjoy Ruth Stevens’ webinar? It’s very insightful and her tips have become standard procedures for the organisation when planning for trade shows. Feel free to drop me an email to share your creative ideas.
September 8th, 2008 at 12:28 am
Hi, Jasmine. Thanks for promoting my webinar. I agree with you that end-to-end integration is key. Another point of leverage I found as I researched my book is booth staff training, since skillful engagement and disengagement on the show floor can pay off dramatically in staff productivity.
I am returning to Singapore in January 09 (to teach again at SMU), looking forward to many delicious meals. See you then,
Ruth
September 9th, 2008 at 12:04 am
Hi Ruth, thanks for your comment! Yes, the most important At-Show strategy is booth staff training. It can make or break the success of an event. That is why Marketing needs to work closely with Sales (and other stand staff) to provide staff training, ensure consistency of message, and encourage a proactive attitude when engaging with prospects at the booth. There are just too many bad examples of stand staff sitting around and waiting for things to happen.
Great to hear that you will be here again. Singapore welcomes you back!