BtoB Media Business - June 2007 - (Page 16)

SALES & MARKETING Sales & Marketing The beauty of face-to-face Two ABM Spring Meeting sessions explore trends in b-to-b trade shows and events AD VANTAGES New niche for data on shipping isa Wallerstein is lead market strategist for information services at Commonwealth Business Media, a division of United Business Media. Wallerstein is responsible for marketing for PIERS Global Intelligent Solutions, a data business that reports on global waterborne carBIO go movements to the maritime LISA WALLERSTEIN industry and the government. VP-marketing, Information Services, MB: How Commonwealth did you launch Business Media online subscription product PIERS Trade Profiles for a commercial audience? Wallerstein: The commercial audience includes midsize-to-large businesses that maintain cross-border supply chains or markets, such as manufacturers.The maritime industry is interested in the volumes and destinations of cargo, but the commercial market wants to know the parties involved, the products they are shipping and the countries involved. So first, we had to tailor a product to their needs. MB: What was your marketing plan? Wallerstein: We use a direct sales channel, supported by aggressive leadgeneration direct mail, search engine marketing, and print and online advertising campaigns in our own publications. We also offer a free e-newsletter and other communications to open new channels and build a user community. MB: What was the result? Wallerstein: Trade Profiles has helped drive significant growth; we’re on track to have doubled our commercial customer base in just five years. The commercial market is the fastest-growth market for PIERS, and it now represents 40% of our division’s revenue. T the exhibitor after the sale so that our salesrade shows and events have become people can stay focused on the customer. critical to the health of b-to-b media That’s revolutionary in the events business.” John Failla, president of consulting firm companies. At American Business Media’s Spring Meeting last month, top b-to-b ex- Tesoro Communications, moderated the panecutives explored the topic in two educational el, “Getting Into Trade Shows: Build or Buy?” sessions. In one, a panel of show organizers of- While launching a new trade show can be fered ideas to keep revenue growing. In the risky, with a failure rate of 40% to 50%, Failla other, a panel including investment bankers said the risk can be managed effectively if the prospective show organizer first follows a riglooked at some financial aspects of events. Nancy Walsh, senior VP at Reed Exhibi- orous prelaunch process. “It starts with an audience analysis, intions, pointed out that exhibitors have become more sophisticated. “They know cluding the segmentation of the audience,” he they can’t just buy booth space and show said. “You need to find out what the points of up,” she said. “Exhibitors have become more pain are for that audience and analyze how concerned with branding themselves. If they well these needs are being served by current shows. You conceive a can do things to really product targeted to stand apart from their meet those audience competitors, they’re needs. Then you take willing to spend the the product concept to money.” Companies some bellwether exare looking for big ophibitors. Take it to portunities, such as thought-leader attentheir names on banners dees. Get preliminary on the outside of the Nancy Walsh, senior VP, Reed Exhibitions buy-in. Craft advisory convention center, all over the convention hotels and even at the air- boards on both sides. You create a go/no-go point after which you free up the marketing port, she added. Online media can extend the impact of the dollars. Then you have an event.” Angelo Varrone, CEO of ExpoNation and a in-person experience in countless ways, said Nancy Largay, director of business develop- former partner in b-to-b media company ment at Global Executive, a conference and Shore-Varrone, said, “In our company, we felt event logistics, management and marketing the ultimate market research was whether company. “A few years ago, a show package someone would put down money to exhibit at would include booth space, a banner at the the show.” Richard Mead, managing director of show and a product showcase in print. That would add up to something like $10,000,” she Jordan Edmiston Group, advised b-to-b pubsaid. “Now, a package might include preshow lishers to leverage their industry relationadvertising in an e-newsletter, sponsorship of ships right from the beginning of any show the confirmation e-mail for attendees, booth launch. “You want them to feel that they win space, on-site branding and an e-mail blast if you win,” he said. “And if the event does not go as well as you hope, the damage will after the show. All this now costs $30,000.” Georgiann DeCenzo, VP-marketing devel- be moderated.” Ken Collins, a partner at DeSilva & opment and licensing groups at Advanstar Communications, said, “You have to train Phillips, said, “There’s no right or wrong your sales force to be integrated marketing answer to the question of build or buy. Even consultants” rather than booth sellers. “Our though multiples for trade shows are salespeople focus on interaction with the very high, especially for the big ones, most exhibitor to find out their needs and goals. of them are very solid investments with good Then we have a service team that works with growth prospects.” BY MARIE GRIFFIN L “If [exhibitors] can do things to really stand apart from their competitors, they’re willing to spend the money.” —Marie Griffin 16 | Media Business | June 2007 | mediabusinessonline.com http://mediabusinessonline.com

Table of Contents for the Digital Edition of BtoB Media Business - June 2007

Cover
Contents
ABM meeting reflects sense of urgency
Publishers consolidate Web site management
Five key technologies to watch
Sales & Marketing
M&A
Online
Events
Circulation
Production
People
Benchmarks
‘Wall Street Journal’ fosters younger audience

BtoB Media Business - June 2007