Got this in email today: “a recent Channel Marketing Association study found that over 60% of channel companies spend more than $250,000 per year on events—but only 30% track or see measurable ROI.” Well then, if only 30% track this spending, the results kind of are skewed or irrelevant.
Most companies do a lot wrong at events.
The booth graphics don’t give a simple, clear message. Often the messaging is too much (TL;DR) or vague or me, too. At the very least, you want the booth and its graphics to make people stop or remember. Think about all the TV commercials like Liberty Mutual or GEICO or Progressive. The colors are the same. There is a recognizable mascot, even if it is a human. The message is the same, repeated over and over. That is branding in a nutshell. Create recognition of your logo, your color, your Value Prop or motto. Make it yours.
As I walk around expo halls, I find myself looking at booths unable to discern what the vendor does – and ask myself ‘What were they thinking?” They spent money and didn’t even add a tag line like CyberSec for MSPs or White Label VoIP. How many people are going to ask you what you do? Not many.
If you are spending $250K, that is at least one event per month, so having a marketing plan for these events is important. The plan should be about the brand, the message, the action plan, what you would expect to gain (why and how).
The people in the booth need training. What is the goal? What is the KPI? What should we be asking? What is the profile of the partner we are seeking?
Most booths have the people talking amongst themselves – or looking at their phone. When I have manned a booth, we gamify it. Talk to everyone who walks by. Be friendly. Say Hi.
If you have a tchotchke, offer it. You don’t want to take it back home. It at least allows for an opening question, “Do you want one?” If nothing else, your name gets out there.
Some vendors check ROI on a show by how many new partners were touched. It has to also be how many old partners were touched. How many meaningful conversations?
It would be great if you were able to just talk about deals – how many deals were closed because that person walked by our booth at that show – but that takes sophisticated tracking.
What if the partner saw you at three shows before they engaged with you? Several partners and I joke about how many vendors will be in Vegas once. We will see them in Vegas and then never again. Partners want to know you are long for the channel, not looking for a quick hit or just dipping your toe in. Why? Because if we sell your stuff, we want to get paid. Can’t get paid if you are out of the channel in 2 years.
What is your sales cycle? If it is 6 months, then you won’t see a sale from any partner for at least a year. Why? Meet them, court them, get the contract signed, on-board them, get the first quote and close in 6 months. And if you are selling to Enterprise, the sales cycle and budget cycle could be 2 years! Most Channel Chiefs don’t last 2 years.
A smart plan is a recognizable booth with attentive friendly staff who are scheduling partners for a webinar or a call to learn more, but who are also disqualifying partners who aren’t a good fit. At most channel shows, there are a mix of channel types – MSP, VAR, TA, TSB – which are you looking for? Know! Stop wasting time with people that aren’t a good fit.
If you don’t have a profile, you don’t have proper messaging, you haven’t trained the staff, then you are wasting money even if you aren’t tracking it.
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