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December 23, 2014

South East Europe: Keeping Buyers Happy

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As trade shows participants you must constantly be wondering about how to acquire new business partners and increase the return on your trade show performance investment. There is a well-known fact that acquiring new customers is much more expensive than the process of keeping existing ones, and today your potential congress customers also have available to them an almost unlimited world congress offer.

In the world of searching out new business partners business trade shows remain one of the key tools and at a business event the hosted buyers are the centre of that world. We therefore like to say that the congress trade shows are “hosted buyer driven”.

Organisers are consistently thinking of how best to fully satisfy buyers and fundamental to this is an understanding of their needs and expectations. However, it all starts out with a clearly defined set of criteria for invited buyers participation; it is important to know the structure of buyers and to know the ratio between corporate buyers and those from professional associations. A basic tool for organisers in getting this right is a powerful CRM system for which the foundation is a detailed segmentation of buyers. In addition to this, a comprehensive communication infrastructure is needed, one that integrates different communication tools into an operational system. The aim of the organisers through all of this is to attract as many buyers with high purchasing power as possible. To this end, they carry out extensive marketing campaigns, with key activities including co-operating with group co-ordinators who are experts in specific target markets.

Interactive communication allows a company to obtain feedback directly, so the complete digital analytics is of utmost importance, including the analysis of social networks. Regular communication is the backbone in achieving success.

Given all of this, an interesting component that signals the quality of a trade show is the selection process for hosted buyers. At the Conventa trade show, on average we reject more than half of all applications. The record was in 2013, when we rejected as much as 57.8%. Why such a high level of rejection? Because we only select those with a genuine and profound interest in the region. Even good data about buyers does not mean anything without the full and proper knowledge alloyed to an analytical model that helps in making decisions on their selection.

The good news about a particular business event spreads quickly; satisfied buyers pass on the news of their positive experience to a wide range of new potential buyers, who in turn pass on the same messages. Welcome to the good news about our business event. Welcome to Conventa 2015.

Added value of the Conventa trade show:

FACT: 1,437 invited guests have visited the Conventa trade show in six years.

RESULT: According to Conventa statistics, a min. 10% of all meetings conducted in the long-term materialises into the form of sales. This means on average 2.2 successful meetings and from our calculations on average spend, the average yield of the trade show is at least EUR 57,540 per exhibitor.

IMPACT: It is much more difficult to acquire new customers than to retain old ones. In bringing new buyers the Conventa trade show is a key tool in expanding your business profile.

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About the Author: Kongres





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