What Trade Show Organizers Need to Look for in a Lead Retrieval Solution
February 10, 2022
One of the biggest challenges event organizers face is attracting and retaining exhibitors and sponsors to in-person trade shows and other events. That challenge has been accentuated dramatically in the wake of the pandemic, even with restrictions being lifted. However, the past couple of years has also highlighted the value of new technologies in modernizing the trade show experience both from the perspective of event organizers and their attendees.
Digitization offers event organizers by far the most sustainable and cost-effective way to attract valuable exhibitors and sponsors. In turn, this gives them more opportunities to monetize their events, both directly and indirectly. This is especially valuable for event organizers since they can directly increase their revenues by selling additional services, such as lead retrieval, to their exhibitors. Furthermore, by making their events more profitable for exhibitors, they can increase their chances of attracting long-term partners and sponsors.
What is Lead Retrieval & How Does it Work?
Lead retrieval is the process of capturing and processing sales leads collected during events. This allows sponsors and exhibitors to collect valuable data about those visiting their event booths and who show an interest in their exhibitions. By making it easy for your exhibitors to collect qualified leads, you can make your event more attractive to them, while also adding another revenue stream.
A modern lead retrieval solution is a core component of event management, and a vital tool to have from an end user’s perspective. After all, businesses exhibit at events for several reasons, such as to generate sales or increase their brand visibility. The ability to quickly capture and qualify leads and forward them to their sales and marketing departments helps make that happen. In the modern trade show, this is typically done by scanning an NFC-enabled badge, QR code, or a virtual business card using a smartphone.
However, event organizers themselves are ultimately responsible for collecting the information from their attendees in the first place, during registration. It is up to you as the event organizer which information you want to collect. Once collected, the data will be encoded in the form of a QR code or virtual business card. Then, when an attendee visits a booth, they can provide their information upon request by allowing the exhibitor to scan their badge or the information from their phone via near-field communication (NFC).
Event organizers should be offering a lead retrieval solution to their exhibitors to improve revenue and attract and retain high-value sponsors. However, this requires choosing a lead retrieval solution that provides a wide range of benefits to their end-users i.e. the exhibitors.
Building Custom Sponsor Packages
To help exhibitors realize the full potential of your events, as well as boost your revenue, you should consider offering custom sponsor packages tailored to the needs of the businesses exhibiting at your event.
Since the success of any tradeshow or other event hinges on the level of engagement between your attendees and exhibitors, you should make it as easy as possible for both parties to share information and derive value from the event. Attendees are there to learn about new products, services, and brands, while exhibitors are primarily interested in getting the best possible ROI from sponsoring your event. Therefore, it stands to reason that you should make interactions as seamless as possible by way of a modern lead retrieval solution.
Many event organizers leave using lead retrieval to their exhibitors. However, by offering them better solutions, they can enjoy a more consistent experience, not to mention better accessibility to essential lead information. By offering your exhibitors a lead retrieval solution, which supports QR and NFC, they will be able to get more information from more attendees. Furthermore, if that solution integrates with exhibitors’ business solutions, they can easily pass on the information to their sales and marketing teams for following up with. Let us also not forget the importance of having a touch-free lead retrieval solution, as opposed to traditional business cards, in the age of covid.
While exhibitors might already have their own lead retrieval processes and solutions in place, the fact is that many businesses do not get the ROI they expect from exhibiting at trade shows. By offering custom sponsor packages and facilitating seamless communication between your exhibitors and attendees, you can change that. Doing so will make your events more profitable for both your business and your sponsors.
Stova is a hybrid event platform that helps organizers deliver great events through both digital and traditional channels. Request your live demonstration today to learn how.
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