Sunday, May 26, 2024

No Revenue, No Business

   If you are reading on a smartphone, use landscape / hold phone sideways. 

"No business has ever succeeded without sales," Mark Cuban says. (Maybe that's why Cuban says sales skills are what made him wealthy.) "Period. End of story."

I don't know if there is a season for it, but June certainly feels like Trade Show / Industry Event / Rooftop Bar Mixer Month. Next month for the community alone, our members will be attending some (or all) of the following:

44K+ expected to attend InfoComm in Las Vegas

40K+ expected to attend COLLISION in Toronto

4K+ expected to attend Propelify in Hoboken, NJ (across the river from NYC)

6K+ expected to attend a Verizon 5G event at Radio City Music Hall

And there will be a smattering of events in NYC with amazing rooftop bars or waterfront mixers in June (and July, and August). I was telling a friend that I feel so spoiled living 30 miles West of NYC - the BIG APPLE - the Center of the Known Universe. Every day ( there is SOMETHING going on in NYC. Specifically at Javits Convention Center. I could attend an AMAZING networking event every single day - but that feels piggy. So, maybe I'll just send someone to attend (all?) of the events at Javits Center on my behalf... (after they first for Conference of course). Sounds like a great gig for paid summer interns (June > August) right? 

People attend trade shows and industry events for a variety of reasons, which can be broadly categorized into business development, networking, market research, and education. Here are some of the key motivations for attending trade shows - feel free to read this section fast because it is mostly BS:

Business Development:

   - Lead Generation: Companies exhibit at trade shows to attract potential customers and generate leads for future sales.

   - Sales Opportunities: Direct sales can occur at the event, providing immediate business opportunities.

   - Partnerships and Collaboration: Attendees often seek potential business partners, distributors, or suppliers to expand their market reach.


   - Industry Connections: Trade shows provide a platform for meeting industry peers, which can lead to valuable business relationships.

   - Customer Engagement: Companies can interact with existing customers, strengthening relationships and gaining feedback.

Market Research:

   - Competitor Analysis: Observing competitors' offerings and strategies helps companies stay informed about market trends and innovations.

   - Industry Trends: Attendees can gain insights into the latest trends, technologies, and developments within their industry.

Branding and Visibility:

   - Brand Exposure: Exhibiting at a trade show enhances a company's visibility and brand recognition within the industry.

   - Product Launches: Companies often use trade shows as a platform to launch new products or services to a targeted audience.

Education and Training:

   - Workshops and Seminars: Trade shows frequently offer educational sessions, workshops, and seminars on various topics relevant to the industry.

   - Learning Opportunities: Attendees can learn about new technologies, methodologies, and best practices from industry experts.

Experience and Demonstrations:

   - Product Demonstrations: Trade shows allow companies to showcase their products and services in a hands-on environment, giving potential customers a chance to experience them firsthand.

   - Live Demonstrations: Demonstrations can help convey the benefits and functionalities of products more effectively than brochures or online descriptions.

Industry Advocacy and Development:

   - Industry Development: Trade shows often serve as a platform for discussing and addressing industry-wide issues and advancements.

   - Policy Influence: Attendees can engage with industry associations and policymakers to influence industry regulations and standards.

In summary, trade shows are multifaceted events that offer significant opportunities for business growth, networking, learning, and market insights, making them valuable for companies and professionals across various industries. OK, the BS portion of today's Sunday Blog is now over. Let's go back to our regular programming...

It's about the money. MONEY!!! Leads. I NEED GOOD LEADS!!! I take you back to the top of this blog: no revenue, no business ala Mark Cuban. Leads > Sales > REVENUE

I know that I am probably dating myself here, but do you remember Glengarry Glen Ross? (1992). I cannot believe that anyone would (ever) go into a career in sales after watching that movie. 

OK, here is the good news. It's 2024, not 1992. The Internet and AMAZING marketing technology has helped to level the sales and marketing playing field in the last 30 years. I am sure that there are many people who attend trade shows and industry events for reasons OTHER than Business Development. Other than to generate leads. Other than to generate REVENUE.

And that feels good and noble and wholesome. 

But if your business has a CFO ( or a selling CEO... ) and they approved the budget for you to attend a trade show - or approved the budget for you to have A BOOTH at a trade show - I can guarantee you that they are thinking about....... leads.

The good leads. They want the good leads.  

What a concept, right? People doing business with...people. Vetted, engaged, interested, curious... people. "I am so glad we met!" is what we all want to hear, right? Is that not why you attended the event (any event...) in the first place?  

"I am so glad we met." ROR. From both sides. That's the money shot for any trade show or event. 

ROI? ROAS? No. ROR = Return On Relationship.  And, of course: ABC




CLIP DESCRIPTION: John Williamson (Kevin Spacey) refuses to give Shelley Levene (Jack Lemmon) better leads.

^^^^ Let's connect ^^^^

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