Tradeshow Preparation Affects Lead Quality!

Tradeshow prep lists abound and we like this one. But there has to be a solid foundation supporting the preparation process so that the results justify the expenditure. Our next few blogs will address ways to bump up your tradeshow preparation game.

Generally marketers think of leads as primary outcomes of tradeshows – and they’re right. But the planning process includes ensuring qualified leads by developing and implementing a clear model of your desired customer characteristics.

Today’s blog is about what’s called a Universal Lead Definition (ULD).

Leads or Inquiries? Which Are You Generating:

According to Marketing Sherpa’s 2012 B2B Marketing Benchmark Report, 61% of marketers don’t have a ULD.

What does this mean? It means that a large number of leads go to Sales and Marketing departments without being qualified – because there’s no set of criteria against which to qualify them. This makes them inquiries, not leads, and the difference is critical, not just to tradeshow results but also to your overall marketing mix.

What Does a ULD Do?

• Delineates the responsibilities of the sales and marketing organizations
• Improves the efficiency of sales and marketing by:

       o Driving your pre-tradeshow promotion campaign

       o Making prioritization of leads easier for sales and marketing efforts  downstream of the tradeshow

       o Reducing the number of rejected leads

       o Increasing accountability for the tradeshow-to-sales and marketing transfer

How Do You Develop a ULD?

• Involve your company’s sales and marketing organizations in face-to-face sessions to define what constitutes a qualified lead. This includes creating a feedback mechanism so that marketing can refine the marketing mix and sales can be accountable for acting on leads.
• Summarize and obtain consensus on the resulting elements of the ULD
• Follow up, formally via sales and marketing meetings and informally person-to-person

So Now Everyone on Your Team Understands that the “Ideal” Customer:

• Fits your ULD profile
• Needs your company’s product or service
• Is a decision maker or key influencer
• Is likely to evaluate your product or service and make a purchase within an acceptable timeframe

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Illustration courtesy of Marketing Sherpa
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