Holding a Custom Event vs. Exhibiting at a Trade Show

In-person events are extremely important, especially in an economic downturn. There is nothing like talking on-on-one with your customers and prospects. They require significant investment, but can also show a solid ROI depending on the overall strategy. More and more, companies are spreading their wings and producing their own events. Our recent BtoB/Junta42 study revealed that almost 40% of marketers plan and produce their own custom events or roadshows.

Still, custom events are costly from a financial and human resources perspective. Also, if the content is not stellar, a custom event could actually hurt your brand. But the payoff, if done correctly, can be huge.

I asked trade show expert Joyce McKee from Let's Talk Trade Shows to give a little insight into what a business needs to consider when launching a custom event - versus just being an exhibitor at an industry trade show.  A big thanks to Joyce for putting this together. - JP

Holding a private event vs. being an exhibitor at a trade show

Of course there are many trade offs which needs to be taken into consideration when considering a custom event versus exhibiting at a trade show.

Normally, the reason to host a private event – a company wants to control the content and keep competitors out.  But at what cost?

Here are some serious considerations to consider before leaping to the conclusion that the private event is your best opportunity.

Audience Acquisition
How difficult will it be to draw the correct audience to the event?  What compelling information will you be delivering at this event?  It needs to be so rich and relevant that they are willing to interrupt their schedules and travel to be at your event.

A show organizer will spend money on audience acquisition.  And this is where I advise my clients to assess the marketing efforts of the show to draw an audience.   What marketing tactics are they deploying to get the audience to the show?  As an exhibitor you need to understand the strengths and weaknesses of their marketing plan.

If you are an exhibitor, you still need to use this show function to bring your current customers and prospects in so that they can be “educated” in your booth.  There are other opportunities for entertainment which should be considered for your target audience.

Being an exhibitor at a show means you can draw from the show organizers and other exhibitors’ marketing efforts to have a crowd walking up and down the aisles.  Now to get a stream of that crowd into your booth – that’s another topic!

Another key audience consideration for a private event – what does your list REALLY look like – how clean is the database of names?

Personal invitations and custom direct mail will be the best way to inform your audience – you must reveal the compelling reasons to come. You may also be able to leverage your sales team, who should have close relationships with key prospective attendees.

Set Expectations
The tangible dynamic of a crowd at a show vs. a group of people at an event needs to be taken into consideration.  It will be very important to set expectations among your attendee as to the look and feel you would have at a private event.  The language of exclusive gathering, etc. can be used to draw them to the event.

Education and networking are key components of any gathering.  You need to make sure to facilitate both aspects to have a delighted attendee.

What's the Strategy?
What are your objectives for hosting the private event?   What type of ROI would be acceptable for your firm to host this type of event?

The cost of a private event can be considerable and that should be scrutinized carefully against the objectives desired.

Event Expertise
Do you have the talented, well informed event personnel on staff (or can contract them) to produce your private event?

If you holding an event at a conference facility or large hotel, someone with the knowledge to navigate all the contracts, food and beverage and on and on needs to be in place or costs can spiral out of control.

Make Them Feel Special
Now there are ways to use a trade show to host special groups and create a “private” feel for the show experience.  One is to have a special room off the show floor for demos, private conversations, etc.

Then there are the hotel rooms which can be used to educated and entertain selected customers and prospects.

As you can see, Joyce knows her stuff.  Another important component that I would add is the creation of content - which is as difficult as any of the above points. You may want to consider partnering with an organization that can assist you in creating the most compelling and relevant content for your organization.

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