By Dan Cole | Senior Director, Exposition Sales | AVIXA
Originally published on CEIR.org
I have been fortunate to work in the trade show industry for 25 years. My approach to selling sponsorships and exhibit spaces has been shaped by years of experience, challenges, and successes. CEIR’s Exhibit and Sponsorship Sales Approaches Driving Revenue Growth Report One: Planning, Offerings, Outcomes, Outlook Moving Forward focuses on exhibit and sponsorship sales approaches and offers valuable insights into industry trends.
CEIR’s report underscores the importance of a consultative, value-based selling approach, which is the cornerstone of successful sales and business development endeavors. Understanding clients’ goals, pain points, and motivations is paramount. By asking thought-provoking questions, we can tailor solutions that address specific needs and deliver a tangible return on investment. Indeed, providing measurable ROI to our clients has been moved from a nice-to-have to a must-have.
The report highlights some of the more popular offerings available today to potential sponsors and exhibitors at trade shows. The nature of sponsorships has changed, and you can thank COVID for the wake-up call the industry received to re-evaluate what it offers exhibitors and sponsors.
Networking fosters serendipity, and those who can articulate the value of such encounters have a significant advantage in selling sponsorships around activities involving it. CEIR’s research highlights the importance of interactive experiences in driving revenue growth. Even though “experience” and “experiential” have become overused, they remain critical, as CEIR suggests. CEIR’s report emphasizes the importance of comprehensive digital marketing packages, which can offer significant opportunities for driving revenue.
CEIR’s data highlights the significance of strategic pricing and sponsorship options in maximizing revenue. While they provide flexibility and value to sponsors and exhibitors, determining optimal pricing strategies requires thorough market research and analysis. The key word here is thorough. Decisions based on isolated snippets or autobiographical interpretations of data are dangerous. One cannot take generalized industry growth and then directly relate this generalized information as the “Gospel” to specific events. A deep dive into the research is essential.
CEIR’s research underscores the importance of offering compelling exhibit and sponsorship opportunities aligned with attendee preferences and market trends. For that reason, customization, and flexibility to accommodate varying budgets and objectives increase your chances of success.
I have learned that success in the trade show industry hinges on our ability to understand evolving trends, adapt our strategies, and deliver value. Listed above are just a very few thoughts. If you have not already, take a moment to read the report in its entirety to help build and adapt to deliver value as a salesperson. After all, you’re asking your clients to invest their money, and you can do the same by investing your time to better serve them.
Learn more about CEIR’s Exhibit and Sponsorship Sales Approaches Driving Revenue Growth study here.
About the Author
Dan Cole carries some 35 years of professional sales and leadership experience, the vast majority spent in the trade show and events industry. He is a highly sought-after writer and speaker. Dan previously served as Vice President of Business Development for the Consumer Electronics Show (CES) and the organization that produces it, the Consumer Technologies Association, for 15 years.
The views and opinions expressed by blog authors are those of the authors and do not necessarily reflect the official policy or position of the International Association of Exhibitions and Events®. Any content provided by our bloggers or authors are of their opinion. All content provided on this blog is for informational purposes only. IAEE makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. IAEE will not be liable for any errors or omissions in this information nor for the availability of this information.
