Las Vegas, 1989. I worked my first trade show for Advanta Leasing Corp. It was COMDEX (Computer Dealers Exhibition), one of the largest computer trade shows in the world. With all of the latest computer gadgets surrounding us, we had to work really hard to get potential lessees and vendors to stop at our booth. It was exhausting. However, we did achieve our objectives and started exhibiting at major equipment shows: security equipment, medical equipment and mailing equipment to name a few. We learned that there was a lot more to working a convention than just putting up a booth and standing around waiting for something to happen.
In 1993, I was fortunate enough to work my first leasing trade show. What a difference! I was surrounded by people like me in the leasing industry and attendees actually signed up to meet with us. No more trying to entice an attendee into my booth. It was wonderful.
Looking around at the leasing trade show I got the feeling that a lot of the other exhibitors had never worked an equipment show. They didn’t seem half as grateful as I was to be there. In fact, some of the funding source representatives looked like they didn’t even want to be there. Their attitude was, “We’re here because our competition is here and if we didn’t come our absence would speak louder than our presence.” I was so happy to be there that my enthusiasm bubbled over. We made many connections, had a great show, and some of those relationships are still strong 16 years later.
If you are exhibiting or attending one of the 2009 leasing conferences, here are some tips to make the most of the convention experience.
Attendees
Having specific goals for the conference is a great beginning. If you know in advance what it is you want to learn, what knowledge or skills you want to develop, then when it appears on the agenda your ears will perk up and you’ll know this session is just for you. Also, a relationship or networking goal, one that involves people, may be your top priority. Who do you need to talk with, contact for more information or pick their brain? In today’s economic environment relationship goals are just as important as learning goals.
When you’re at the convention, view the exhibit hall as a temporary shopping mall — a shopping mall filled with funding sources. Are you looking for a sale-leaseback program? Go shopping and see what you can find by talking to as many funding sources as you can.
Become an idea gatherer. Good ideas pop up at the strangest times at these conventions: during an educational session, a casual hallway conversation or waiting in line for the restroom. No matter where or when the idea strikes, write it down. Memories can be good but many times they are very short.
Consolidate your best ideas onto one list. These are the ideas that are most likely to provide a payoff when the conference is over. Having them in one place will make your implementation process much more efficient. Coming to a conference and getting ideas without implementing them is not worth the hassle of going to a conference.
After the show hold yourself accountable for the return on your attendance (ROA). When your ideas have been implemented, and you can identify the benefits they’re providing, it’s time to calculate the ROA. The ROA I’m talking about is a disciplined approach to measuring results that are tied to business issues.
First, determine the investment you made in order to attend the meeting. Then identify the dollar benefits you’ve received from the things you’ve done as a result of the meeting. Finally apply the math. (This is a formula created by the National Speakers Association.)
For example:
Total Benefit – Total Cost / Total Cost x 100 = %ROA
Cost for attending the conference………………$2,000
Total benefits from the ideas implemented…….$10,000
Five booked $20,000 deals w/six points………..$6,000
Four “trade-ups” from existing lessees…………$3,500
Savings on CBR reports w/new vendor…………$500
$10,000 – $2,000 = $8,000
$8,000 divided by $2,000 = 4
4 x 100 = 400% ROA
What ROA is good? There is no such thing as a good or bad ROA, obviously the higher the return the more valuable the investment. It’s easy to see if you invest dollars at a leasing conference and don’t follow through on the ideas you get, your ROA won’t make you happy.
Exhibitors
In my experience, the attendees at a conference take the show more seriously than the exhibitors. It’s time to stop that trend. A leasing conference is the best place to reach the greatest number of real prospects all in the same place at the same time. Trade shows are perfect for establishing and maintaining long-term relationships that will pay off for years to come. Even in this age of LinkedIn and Twitter, the personal contacts that come out of a trade show can last for years.
Here are some ideas:
Wouldn’t it be more fulfilling to go to a workshop session and learn more about leasing while you sit side by side with your prospects?
Other quick tips for exhibitors:
After the show is over follow up aggressively and in a timely manner with all the people you talked to. This is where most exhibitors drop the ball. Within 48 hours of coming back to your office make it your main priority to reach your new prospects. E-mail them the information you discussed. This increases your visibility with the prospect while the show is still fresh in their mind. If you started off with a good rapport, your quick follow up will increase your credibility. You prove that you’re dependable and professional. Then schedule sales meetings and tele-classes to maintain your value with your prospects.
Las Vegas, 2009. Twenty years later, I’m going to Vegas again. I’m even more excited than I was in 1989 and way more knowledgeable. Hopefully I’ll see you there and you can experience for yourself the tremendous payoff that can be attained by attending.
Linda P. Kester is a bestselling author and professional speaker with 20 years of experience in leasing sales and marketing management. She has helped hundreds of salespeople increase their volume. Her book, 366 Marketing Tips for Equipment Leasing, has produced results for leasing companies in the U.S., United Kingdom and Australia.
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