Digital Thoughts – TradeShow Valuation, Part 2

When I set out for New York City early this week, I had an idea that I would write about the tradeshows. In the past, that has meant a descriptive account of the goings on, not an attempt to ascertain the value of going in the first place. Intrigued by the potential investments into AOL by Microsoft or even Google, and AOL’s being seen as a battleground to control search, I intended to cover the fight for AOL and less about the tradeshows. The more I kept writing about the shows though, the more intrigued I became on their value and how we as individuals can try to make the most of them. If we can’t make the most of them, at least we can leave with a better understanding of what they offer and what they don’t. Tradeshows are more than just a sales channel, more than a branding exercise. As we conclude this week’s two part Digital Thoughts, I hope to do what the shows themselves ideally should do, provoke thought. Here, in Part Two, we continue our examination of the elements behind the madness.

In Part One, we covered in more depth how tradeshows provide a) an avenue for sales, b) a time for networking / face-time, and c) entertainment. But, they also offer something else that tends to draw the big and small clients alike. It is our fourth dimension to the tradeshow valuation formula, and it is education. I have typically held a negative view of the sessions (the education piece of the shows), thinking them a waste of time and money as success in our space depends on being an expert in the topic before they become session topics. Having gone to more and more shows, I’m starting to change my opinion on the value of the sessions. I still feel that many of the sessions focus on bringing beginners up to a level of intermediate proficiency. That is certainly the case with the speeches I have given. They speak towards the lowest common denominator giving an overview rather than being an advanced working session. And that makes sense. At the end of the day, those you want to speak are those who know and/or have achieved success in that topic. These speakers though aren’t looking to create their next major competitor, so they assemble information that is publicly available and explain it in a more practical and concise manner than self-study yields.

That the sessions and panel discussions might not lead to immediately applicable insights diminishes their value no longer. It’s taken a few years to finally believe this, as historically, my ability to achieve an immediate tactical benefit would be the benchmark for something having value. Like the parties, the sessions build upon and enhance the vocabulary of the common language that emerging from attending the shows. The sessions won’t finally help you figure out how to pick keywords better or design landing pages that outperform your current ones, but they will help you communicate with others better by helping you understand their frame of reference and viewpoints. Additionally, they provide a chance to hear how some of the more accomplished minds think. Not just what they say about a topic but how they approach the problem. The sessions are as powerful for that as anything. Yet, only 20% of those going to a show will opt for the full conference pass, which leaves the final dimension of the tradeshow valuation, the visual landscape from the exhibit hall.

The exhibit hall is many things, including a proxy for the state of the industry and the show, not to mention its still being the main draw for many, including those who operate outside the mainstream of Internet advertising and/or below the radar. We walk the floor not just for what it tells us about the industry in general, but for what it tells us about specific vendors, partners, suppliers, and competitors. Despite being under one roof, those who go for the floor have a different agenda than one who attends for the sessions. The value of the sessions will hopefully increase in minds of the floor only attendees, but it cannot replace or replicate the value of the vibe. And the vibe comes only from the floor. Who is on display, how their display looks, what their literature says, whether they displayed in previous shows and what if anything changed, all tells us something. Together, it’s a lot of information, which is why reading the landscape is just as important as the potential for new clients as it can confirm our product offering and strategies or point out areas that need to be addressed. The exhibit hall is the visual representation of our world, and the final dimension to tradeshow takeaways.

Going to a show for only one of the five dimensions will most likely lead to a feeling of disappointment, that somehow you didn’t get out of the show what you wanted. For example, the expectation of sales alone will net some doors being open, but in all likelihood not to a huge deal flow. Similarly, networking and face-time are great for business, but not strong enough reasons to attend a show. Partying is especially fun, but it leads to less work not more, and a morale boosting good time can be had other ways. Education won’t satisfy the needs of sophisticated marketers. Lastly, competitive and landscape intelligence have typically been enough to draw people in the past, but can just as easily be a let down for smaller, unproven shows or variations of the same show.

The not discussed dimension is the show organizers, who have a responsibility that extends beyond setting up an exhibit hall or arranging pertinent sessions. The entire industry benefits when the people who make it work come together and participate. Those who put it on should recognize the multi-dimensional nature of the event and make sure their actions only encourage this interaction to increase their tradeshow valuation. Each show will vary; so long as some combination of the multiple dimensions exist, that is what matters. The best shows will do what movies do. They will take you away from the day to day, focus you on areas that you wouldn’t normally, and provide you and everyone else there an ability to converse on the industry and each others’ businesses.