Automating A Booth Space Sales Process
A booth space sales process is different than typical B2B sales processes. With timelines and calendars, supporting vendors and sponsorships, floorplans and operations, it’s almost impossible to follow a typical sales process without adding a ton of caveats. So how are the best exhibition automating these processes and speeding up their sales teams?
Asking the right questions
How many customers do you have that host reoccurring events? There is a relationship there that everyone who interacts with that client should be aware of. That relationship can be the difference between an outstanding experience with your event, and an average experience.
As we’ve mentioned, the events business is a breed all its own. When you have an exhibitor who exhibits at ten different events every year, they are likely seeking a streamlined/intuitive process. Having a sales person that makes life easy for them is key number #1 to automating and improving a booth space sales process.
Your contact management system should have the ability to track all the historical information from each contact. If you properly capture historical information, you can build business rules that allow you to automate renewals and provide upsell suggestions to each customer depending on their needs and timelines. This helps all parties. Not all relationship management systems can do this with a booth space sales process, so it’s important to find one that can help automate these processes to properly take advantage of these kinds of practices (hint, hint).
Ultimately, you want to be able to collect the data that tells you everything you need to know about that customers buying habits. Having this data as a part of the booth space sales process will accelerate your repeat sales with these customers in the future. Being able to create new opportunities based on buying history is one of the most essential elements to automating your sales team’s processes.
Exhibition sales challenges
The challenge that we see exhibitions facing now is finding a booth space sales process that can truly manage relationships in an efficient manner. The processes that your teams use from initial contact to invoicing should be personalized for every contact, yet time-efficient for sales staff. This means keeping things like floor plans, exhibitor services, renewal history, and other information all tied together. Having all this data in one place, with the ability to tie these things to opportunities, is what is necessary to fully automate the most important booth space sales processes.
Connecting those data points with business rules (automatic processes) is what the sales industry calls salesforce automaton. It’s a hot topic right now, because almost all sales experts agree that this is fundamentally one of the best ways to make a sales process consistent. Many exhibition businesses have sales processes that are inconsistent. This means that when sales or short, or business want to make changes, it’s hard to identify what should change. Removing variables and make things smooth for sales people is the key to repeatable booth space sales processes.
The Power of Reoccurring Events
Recent studies have shown that there is a 75% rate of missed sales through reoccurring business. Not only is this a huge loss on revenue, its low-hanging fruit that could be easily picked with the right strategy. This is even truer for trade show or exhibition businesses. With the details and contacts already in the database, your salesforce already has the tools needed to collect that sale.
For more information about enhancing exhibition sales processes, download our e-book Hacking The Exhibition Bottom Line.