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Mental Calories
Lets Start Burning...
Setpember 2, 2010 There is Fun to be Had
Brilliant idea! I'm sure it's not the first but lets ponder. Just spoke with a client that pops popcorn at their show. Lets take it a step farther
and send invitations to the booth. The invitation is the popcorn bag, your guest brings it to the exhibit to fill with popcorn..simple, fun and
interactive.
August 13, 2010 How to Determine the Number of Staff to Work your Exhibit
If you are a first time exhibitor or a frustrated veteran on the show floor, this formula has proved itself over and over. Always read
the show prospectus, but reality will set in and perhaps even an ah-ha moment when you tailor this formula to your situation. This can be
used when your show goals are sales, setting appointments, introducing new products and services or even having no objectives at all...
which I hope is never the case.
1. You exhibit at shows or want to have your first trade show, right?
2. Selecting the right show is imperative
3. Okay, you have selected your show and now it's time to begin the crucial planning. This happens before even looking at purchasing
an exhibit. For those who have an exhibit and currently exhibit, this may help with modifications to your existing booth or perhaps...oh
no...I'm going to vomit....cut back the size or increase the size of your exhibit.
4. Hypothetical situation: I am going to use the Iowa Sate Fair since it officially launched yesterday. Here's the formula you have all been
waiting for:
Take the number of days of the show (State Fair is 10 days)
Take the number of days and multiply by the number of hours your exhibit will be staffed (I am going to use 12 hours)
For my example: 10 days x 12 hours = 120 hours
Now, take 120 and multiply by 60 (minutes in an hour). This is going to give you how many minutes your exhibit is open for business for
for the duration of the show
120 (hours) x 60 (minutes) = 7,200 (total minutes exhibit is open for business)
Here come the statistics...
Lets assume that an average sale is $9.95. Lets also assume that realistically, an average amount of conversations to be had in an hour is 4
(that gives you 15 minutes per attendee. Some conversations longer than others and some shorter...you can boost this number with effective
pre-show planning for effective prospect qualification and how to "dump them" effectively to allow a new conversation). But not for this formula.
Average Sale: $9.95
Now, divide the total minutes the exhibit is open (7,200) for business by 15, this gives you how many conversations 1 staffer will have during the
course of the show
7,200 (total minutes exhibit is open for business) / 15 = 480
I am burning some mental calories on this one...
Next you determine the close ratio, lets shoot low and say 10% closing rate.
480 X 10% = 48
Take the closing rate number (48) and multiply by 9.95. This is how much you will make in sales off 1 staffer.
1 Staffer x 48 (closed business) x $9.95 = 477.60
Take this same formula but tailor it to your situation. Here are examples, based on this hypothetical show and 1 EFFECTIVE
Staffer:
Average sale is 25.00 = 1,200.00
Average sale is 100.00 = 4,800.00
Average sale is 500.00 = 24,000.00
Average sale is 1,000.00 = 48,000.00
Average sale is 2,000 = 96,000.00
Average sale is 5,000 = 240,000.00
Do not confuse this with profits. There are costs involved such as renting the booth space, renting electrical, internet and other services,
travel costs, promotional item cost and the exhibit itself whether purchased or rented, to name a few. A huge one is shipping and drayage.
This is why I highly recommend figuring out what your goals are before committing to an exhibit and booth space. This formula allows you to
tailor your exhibit around your goals and objectives, not the other way around.
To the booth staffers reading this formula...I apologize that I didn't even account for lunch breaks!
To all exhibitors...lets boost the AT-SHOW closing ration another 10% by following through on follow up!
