Increasing booth and sponsorship sales is critical for trade shows and events to cover exhibitor attrition and to grow the event. The challenge is to implement strategies to sell more space while still enhancing the overall experience for attendees and exhibitors. Learn how to leverage data analytics, create more engagement with exhibitors, and leverage technology to drive more booth and sponsorship sales for your next event.
Content by Ben Dunlap, Vice President of Sales at Map Your Show
One of the most powerful tools in your arsenal is data. By utilizing data analytics, you can identify trends and patterns in exhibitor behavior, which allows you to tailor your sales strategy more effectively. For instance, tracking which booths had the highest traffic in previous years can help you determine the most desirable locations on the floor plan and encourage exhibitors to book those locations right away.
Use data to help you identify at-risk exhibitors—those who might not renew their booths or sponsorships based on low booth traffic and attendee engagement. By recognizing these at-risk accounts early, you can reach out to them with personalized offers or incentives to re-engage and encourage them to book early for better placement at the show.
Combine data analysis with exhibitor feedback to create customized booth, sponsorship, and advertising packages that meet the needs of your exhibitors. Create personalized communications, exclusive offers, and customized sponsorship packages to show exhibitors you value their partnership and are invested in their success.
Digital advertising offers another lucrative revenue stream that can be bundled with booth sales. By allowing exhibitors to purchase digital ads that are prominently displayed in your event's mobile app, website, or digital signage, you provide them with additional visibility and engagement opportunities.
New product showcases are another excellent way to increase exhibitor satisfaction and revenue. By offering exhibitors a premium space to highlight their latest innovations, you create a focal point that draws attendee attention and increases foot traffic to those booths. Include showcases in a larger sponsorship package, enhancing the exhibitor's presence at your event.
One of the primary reasons exhibitors participate in trade shows is the opportunity to network with attendees and other exhibitors. By enhancing the networking opportunities at your event, you can create more value for your exhibitors. This can be achieved through networking lounges and exhibitor appointment sessions during the event.
Integrate networking tools within your event’s mobile app to help connect attendees to exhibitors. Features like virtual business card exchanges and user groups can make networking more efficient and rewarding, which in turn increases the likelihood of exhibitors renewing their participation in future events.
One of the most effective strategies to boost booth sales is to secure commitments from exhibitors while they’re still on-site at your current event. Exhibitors who are already immersed in the event are more likely to see the value of renewing their booth space for the following year.
Having a dedicated on-site booth sales team is crucial. This team should be trained to handle inquiries, negotiate deals, and close sales efficiently. Equip them with the necessary tools, such as floor plans and contract forms, to facilitate quick decision-making.
To streamline this process, consider scheduling appointments with your exhibitors during the event to discuss their booth placement and sponsorship options for the upcoming year. This personal touch ensures that exhibitors feel valued and that their specific needs are addressed. It also provides a structured environment to finalize agreements.
Flexible payment plans can also drive on-site sales. Offering an option to secure booth space with a deposit, rather than requiring full payment upfront, can reduce financial pressure on exhibitors, making them more likely to commit early. This flexibility can be particularly appealing to smaller exhibitors who need time to manage their budgets.
Introduce tiered renewal packages that cater to different exhibitor needs. For example, offer a basic package with standard benefits, a premium package with added visibility, and an elite package with exclusive perks like keynote sponsorships or enhanced branding opportunities. This approach can appeal to a wide range of exhibitors and encourage them to upgrade their participation level.
In conclusion, boosting booth and sponsorship sales is about more than just filling spaces on the show floor. It requires a strategic approach that leverages data, enhances the exhibitor experience, and offers value through innovative packages and engagement opportunities. By implementing these strategies, you can not only increase your sales but also build long-term relationships with exhibitors, ensuring the continued success and growth of your events.