Trade shows are really an investment of your time and your money.  More than ever before, a focus should be place on the ROI of each investment we make as a broker/business owner.  Trade shows are not only an opportunity to be educated on the latest technology and strategies in the industry, but more than that they are the one opportunity that we should focus on initiating as many relationships as possible.

As my good friend Jim Tucker (CCIM, Richmond, Virginia) has told me again and again, “This is a belly to belly business”.  And in fact it is.  And although I naturally gravitate to Jim whenever we happen to attend the same meeting, I rarely spend time with him and anyone else I know for that matter, at these events.  You see, these trade shows are our best opportunity to “get known” and build future relationships, such as I proudly have with Jim.

Over the 20 years and countless national, regional and local events I have attended I have attempted many methods to “get known” as well as been provided several unique approaches from my colleagues.   These “tricks” are not only applicable to trade shows, but to all networking gatherings as well as personal meetings.

Here are my top approaches to getting the most out of your event attendance.

1.     Plan ahead – Sounds simple, but really how is this possible.  Last year I attended a regional ICSC show and I watched as a group of commercial brokers gathered around their company booth.  One advisor however (Rob Cohen, CCIM Raleigh, NC) navigated his own course, seemingly engaging with everyone he approached.  I asked him his secret and he shared with me that he planned ahead.  He secured a participant list prior to the event and identified the key people he wanted to meet.  Using a simple Real Capital Analytics report (www.rcanalytics.com) he identified which properties each prospect owned, the transaction history, as well as the transactional trends he was able to identify.  Meanwhile the majority of the other attendees simply went where the current took them, introducing themselves as commercial brokers.  Who do you think made a lasting impression?

2.    Blow Off Your Buddies –Consistent with #1, it amazes me when I sit down in a general session or keynote speech during the lunch session that of the 8 to 10 seats at my table, most are occupied by people in the same company.  Why waste such a valuable opportunity sharing a meal with someone you work with each and every day?  Make it a point to challenge your co-workers to sit apart and engage in as many meaningful conversations as possible during these sessions or at any conference show in general.  Make it fun and have a contest.  Do anything to keep the trade show attendance and the pursuit of building new, meaningful business relationships possible.  Only share these experiences when you get back to the office, and not before.

3.    Round Table Approach – OK, so now you have left your comfort zone and sat at a table by yourself with 7 strangers.  What are you going to do?  Well if you are like most, you will check your blackberry and potentially have a casual conversation with the person to your left and to your right.  You may be interested to hear what the conversation between the two attendees occurring across the table, but there are too many distractions.  Sound familiar?  Several years ago I had a wild idea and announced to my table “excuse me, would it be possible if we all take a minute to introduce ourselves?  I always attend these lunches and feel I missed the opportunity to make some quality connections.  I am here to expand my professional network and I am sure you are too.  What do you think?”  Admittedly I first received a look of horror, if not disgust from some of my table companions, but eventually I got the hang of it and I found people responded positively.  Next time you are having lunch and staring at your PDA, ask yourself, is one of these people sitting with me a potential referral source, client or lead?  You will be surprised.

4.    Anyone say Starbucks? – Personally I can’t stand coffee, and admittedly I am too “thrifty” to buy a $5 cup of coffee, however I find these coffee lines to be one of the best opportunities to make one, if not two quality contacts.  There is always a coffee line at a trade show.  First you have a captive audience and someone with a common interest in that they are attending the same trade show as you.  Forget the 30 second elevator pitch; you may have up to 10 minutes with complete one-on-one time with your new found coffee buddy.  This is the perfect time to initiate a conversation, find out about one another and confirm the right to follow up (always confirm this whenever you exchange business cards with anyone).  When you’re done, instead of the coffee, I generally buy the $4 bottle of water.  However with the new contact, it is well worth it.

5.    Business Card Swap – Speaking of swapping business cards, another associate, Scott Rogers (CCIM/MAI Atlanta, GA) once introduced me to the practice of accepting and recognizing a business card.  Not only does this show a high level of interest and respect, it provides you with a wealth of material to engage in a conversation.  99% of the time when you give your business card to someone, it is quickly deposited in their pocket or worse eventually discarded.  You most likely do this as well when you receive a card.  Next time take 10 seconds to stare at the card.  Confirm the name, role, location and services the provider is willing to share with you.  Use this information to verify his or her name, or relate their market to one of your past deals.  Heck, if they have a CCIM designation on their card, ask them how long they have been a CCIM.  Anything to show you are listening and are engaged in them.  This will make a memorable first impression and you can be sure a follow up event is in your future.

6.    Zero Loss Factor on B Card – Nothing worse than a beautiful office building with lots of wasted space.  Same rule applies to your business cards.  We all have them, we all exchange them but less than 5% of us make the most of this inexpensive advertising piece.  During trade shows you may collect 20 or more cards; during a National Conference you may collect 100 cards or more!  How are you ever going to remember each person, service and or benefit each one can provide for you?  My business card has the staples of name, email, website, phone, company and CCIM designation in the front, but also a list of specialties and services I provide on the back.  This enhances the opportunities for me well after the trade show.  We are all CCIMs, and I would challenge you, based on this alone, you have a valuable specialty, knowledge for service to offer to the public.  Remember to offer your card with the back side up, to draw attention to your services.

7.    For the introverted only – I admit, I may be bolder than some when it comes to introductions.  I learned a long time ago that nothing bad will happen if someone blows me off.  However I understand many of us are more reserved and introverted.  If this is so I highly recommend three easy ways to initiate conversations.  First, hanging out by the food or buffet is an easy approach to engage in a conversation regarding the latest mystery meat.  Second take advantage of rest room breaks.  This is not as strange as it sounds.  If you really want to talk to particular person, catch them in the corridor on their way out of a rest stop.  They will be alone and more approachable.  This particular practice landed me a meeting in Denver with a decision maker 2 weeks after the trade show.  Lastly, if you are truly introverted, break rule number 1 and hang out with your friends, but only if they agree to introduce you to someone new.   This will at least expand your personal network.

8.    Go Ugly Early – This has several meanings.  In real estate it suggests get the dirt on the table right away, so there are no surprises during the transaction.  In networking, it suggest that we are so focused in meeting a specific contact that we bypass the scores of potential contacts and opportunities in pursuit of the big fish.  If someone is attending the same trade show that you are, there is a high likelihood that they may have a opportunity and/or service that will benefit you.  Take advantage of all possible opportunities, as the big fish is rarely worth the catch.

9.    Be the connector – Lastly, be the “connector”.  Introduce as many of your associates as you can to others and your level of respect will skyrocket.   On the other end, if I am in conversation with someone and they don’t provide me with their full focus, I will ask them “you seem to be looking for someone in particular.  I happen to know several people here, perhaps I can help”. This always gets their attention and gives me a chance to help.

Trade shows are one of the most opportunistic platforms you can use to enhance your network and ultimately your practice.  If you take the approach of simply “winging it” then you still have the luxury of good educational sessions and solidifying existing relationships.  However if you plan ahead and implement some of these simple steps, you will come away with a stronger network and a far greater return on your investment in the event.

For example: If you are a broker of retail space, it would naturally benefit you to participate in the local Restaurant Association. How? Simple: Food courts provide space for parasite locations such as fast food outlets in regional malls and strip centers. Parasite stores provide a guaranteed high traffic area with a small rental space. Local members of this useful trade association are usually the owners/franchisees that make the final decision in the site selection, and a working relationship with them could mean untapped sales from an unlikely source.

Your participation in any targeted trade association can help you learn about the needs and concerns of its members. For instance, in the above example, our broker for retail space learned how profitable it could be to develop a working knowledge of restaurants, including new trends in the industry, such as co-branding (a donut shop and a sandwich concept sharing the same restaurant), smaller dinner houses (Fridays, Chili’s, etc.), restaurants (for small towns), and unique sites for branded chains, such as those found on riverboats, on military bases, and in stadiums. All of this vital information may have remained untapped if the broker in our example had overlooked the valuable resource afforded him by simply looking into the local Restaurant Association.

13 Guidelines for Working with Trade Organizations

To make the most of networking with these plentiful—and profitable—trade associations, follow these thirteen simple guidelines:

Identify various local and national groups by consulting the Encyclopedia of Associations.

•    Attend a few local meetings to determine whether the commercial real estate needs of the targeted association are relevant to your business purposes.

•    Start out slowly, and establish trust. Begin by simply doing things that need to be done, such as organizing a monthly meeting, getting the announcements printed, helping to set up a trade fair or golf outing, etc. (These may not be glorious or even immediately beneficial tasks, but you will have an inside track on developing relationships with some of the association’s most influential members, a powerful source of networking at its best.)

•    Work on memorable introductions and building relationships rather than simply selling.

•    Offer to speak on real estate issues related to the association—make the presentation meaningful and relevant.

•    Keep track of whom you have met with a logical system, be it collecting business cards, Email addresses, checking off names on membership rosters, etc.

•    Write a brief article for their newsletter or local publication.

•    Be cooperative with others who are there to market themselves as well.

•    Find reasons to re-establish contact with prospective tenants after the meeting.

•    Follow up after the meeting.

•    Get to know the staff of a particular organization, and zero in on the friendliest—or most efficient—contact person.

•    Participate regularly for maximum exposure.

•    Pick the associations you work with carefully to avoid wasting your time, and theirs.

The solution could be as simple as looking at building tours in a different way in order to maximize their full potential.   There is no overstating the importance of an on-point, customized building tour.   Charts and graphs, facts and figures are one-dimensional.  A building tour is a living, breathing, three-dimensional visual aid complete with sound, sights, textures, smells, and if you’ve provided refreshments, even a taste of its own – it’s a brief but memorable sample of what it would be like to be a client in that building.

Preparing for a “Quantum” Property Tour

Site visits and building tours are often a prospect’s first experience at the property, and they should have a lasting impression. From the moment the prospect enters the building, the culture of service, quality, and attention to detail must be experienced in order to produce quantum results.

On the following pages we will discuss specific strategies for giving the most effective tour under the most beneficial of circumstances.   First, here are some questions to consider before giving the tour:

•    When is the best time of day to tour the building? When is traffic the lightest, the light the best, and the ebb and flow of current tenants less likely to affect your tour?

•    Can prospects safely tour your facility?  For example, are tenants moving in or out -  is there construction under way? Remember, safety is your responsibility, not the prospect’s!

•    Is your property clean and in good repair?

•    Are you prepared to answer probing questions about your best practices, traffic flow, and area resources? Remember, the best building tours speak directly to the unique requirements of the prospect and require thorough preparation, hard work and forethought before a prospect even enters the building.

•    Will your tour be interactive and engaging? For instance, if there is a new feature such as hands-free water fountains will you simply present the feature by rote, or ask someone to volunteer to test it for you?

•    How many people can you comfortably accommodate in a group and still conduct an effective tour? Practice the tour with other staff who will also be leading groups.

•    Practice the tour program with a person who is not involved in your operation and get their feedback.   Ask  a colleague from another department and ask for specific feedback to ensure the most beneficial results.

•    Have a dress rehearsal first. Walk your tour before a prospect arrives, perhaps even days before. If time is critical, check off how long it takes to get from Point A to Point B. Make sure all your keys work, the air intake system isn’t too loud, etc.

Expecting the Unexpected

No building tour, quantum or otherwise, would be complete without the unexpected snafu, but the key to the unexpected is … expecting it. Proper planning and a myriad of back-up contingency plans can delete the word “unexpected” from your tour.

Here are four for starters:

1.    Flexible First. First and foremost, remember that you are the tour facilitator. A good plan is invaluable; a rigid plan spells disaster. Often, prospects want to linger twice as long in one area than you thought they would in another, or vice versa. Be flexible and cater to the needs of the prospect.

2.    Preparing for Problems. The only certainty about a building tour is that they are, at heart, uncertain. Clients may arrive late, leave early, or only ask one question – usually being the only one you didn’t prepare for. When problems do occur, honesty is always the best policy.  It will be clear to any prospect whether you’ve prepared well for the building tour, so admitting you don’t have the answer to an unanticipated question, or apologizing because a certain floor is inaccessible due to construction, is perfectly acceptable if you follow through by making alternative arrangements to the prospect’s satisfaction.  It’s the next best thing to solving the problem.

3.    Learning from Experience. Every building tour is a valuable one, especially those that don’t quite go as planned. Learning from your mistakes is often the best teacher, but only if the lessons are applied to the next tour or become part of the best practice.

4.    Accidents and Illness. There is a way to prepare for accidents and/or illness, but the best offense is a good defense. Knowing where the first-aid kit, hazardous spill station, or even local hospital is one way to reduce panic in a stressful situation such as an unexpected accident or surprise illness.

The Property Tour Schedule

A thorough needs analysis will determine the type of tour you have arranged for your client which should include those key individuals who will form the service team for the customer, i.e., the Property Manager, Engineer, Receptionist, Concierge, etc.

A quick personal introduction to these members will help establish rapport, and if the prospective customer has any questions, these service team members should be encouraged to speak freely and to be as helpful as possible.

Here are several other tips to assure that your “tour team” works together, and not at cross purposes:

•    The Quantum Building Tour always begins with someone in the Lobby who greets the customer.   A welcome sign should be posted in the Lobby, such as “ABC Building Welcomes XYZ Corporation!”

•    Create an agenda. Print it, distribute it, and as much as possible, stick to it. Clients expect you to guide them through the appropriate areas of the building ensuring that the tour is both sufficient and efficient   Prospects will appreciate your guidance, not to mention brevity.

•    Post signs that clearly outline safety requirements. If hard hats are necessary, provide them. Likewise for safety goggles, lab coats, etc.

•    Walk a mile in their moccasins. Point out the obvious and explain the reasons behind specific operations, such as alarm codes, passkeys, ID badges, etc.

•    Emphasize a consistent theme throughout the building tour. For instance, if the property’s key selling feature is location, don’t emphasize its history. Hammer home its location by providing takeaway maps, ample parking, or even a press kit containing menu samplings from local restaurants, services of local business centers, mileage to the airport, FedEx drop boxes, etc.

•    Choose four to six points of emphasis that you want to reinforce throughout the tour.  These should be features and benefits you have researched based on identified needs and requirements of the client.

•    Whenever possible, make it a hands-on, interactive, tour. For instance, if automatic doors are a feature you want to emphasize, slow down and let the prospect take the lead as you near them. The effect of watching the doors open will have much more impact than just hearing about it.

Briefing the Prospect

•    “My name is …” If possible, obtain the names of all prospective clients who will be in attendance on the day of the tour. Make nametags for each to pass out upon their arrival.

•    Seasonal considerations. Be aware of the season, and act – even dress – accordingly. Such subtle nuances as poinsettias in the building lobby in winter or Easter goody baskets in the spring will go a long way toward making a big impact.

•    Hand out … agendas, visors, hardhats, refreshments, ID badges, security clearance, etc., at the outset so that once the tour is under way there are no distractions.

•    Establish control. Prospects are looking for a leader, both on a building tour and with a potential lease agreement. Establish both by conducting a firm, pleasant, and comprehensive tour starting with your greeting in the lobby. First impressions are everything, particularly on a building tour.

Conducting the Tour

The tour is conducted at this stage with emphasis on the features and benefits critical to the comfort of the customer, as determined by their needs analysis. Key aspects of the tenant’s needs should be fresh in the mind of the agent conducting the tour so he/she can discuss them intimately at this time. This will impress upon the prospect that this is not a “tour by rote,” but instead a personalized demonstration of how life at the building can meet their needs.

Consider providing on-site CADD (Computer Aided Drafting and Design) services. While this is a labor-intensive process, it will ultimately provide the leasing agents with a state-of-the-art marketing/letting tool that can result in earlier commitment. For instance, at this stage of the building tour, with on-site CADD, it will be possible to visually demonstrate to the customer flexibility of design, rapid development of partition plans, furniture layout, etc.

In addition to the service and benefits of CADD to both the customer and the leasing team, this graphically impressive marketing tool entices prospective customers to emotionally commit to the project on the fist tour. Other aspects to remember throughout the building tour include:

•    Stroll at a pace appropriate to the group’s size and age. If senior partners are present, be respectful of their advanced stature … and age. If fresh young prospects are pre-scouting the building, move at a brisker pace so they are not overeager to move forward.
•    Rear admiral. If possible, always have a colleague at the rear of the group to assist with keeping it together. The larger the group, the harder to handle. It’s a good idea to work in pairs so that someone in the back cannot only corral wayward prospects but also tell you, through various hand signals, when you’re talking too fast or slow, loud or soft, etc.

•    Discuss what the group will see before entering a new area. Assume nothing on a building tour, especially that your prospects know as much as you do about the property. Emphasizing the area you are about to enter is a good way to reacquaint guests with the property and/or refocus their energies on the task at hand.

•    Always explain any industry/property terms that may be foreign to your guests. Discuss the technology of new features in words your prospects can understand, and demonstrate features that may be complicated at first.

•    Just the facts. It is a good idea to answer only questions about what you know and limit your comments to the property itself. Avoid ideological or philosophical debates with guests.

Concluding the Tour

Once the tour has concluded, most customers (and agents) expect a summary presentation of the property. At this time, provide the prospective customer or agent with a Features and Benefit Sheet of the building, a Directory of Services, along with the names of key people providing them, and a tasteful gift/memento.

An appropriate gift/memento supports the marketing and institutional positioning of the building. It implies high quality standard, reinforces awareness, and keeps the property in the mind of the customer/agent.

Here are some other great ideas:

•    Allow plenty of time for questions. This is vital to a successful building tour. No matter what the level of preparation, there is no way to anticipate every question, nor is there any excuse for allowing a prospect to walk away from the tour without having satisfied him or her fully.

•    Review the main features of the building. For reinforcement, conclude the tour with a list of features and benefits you’d like the prospect to remember. This can be a printed hand-out and/or verbal presentation.

•    Samples of the property always make for a great ending. Provide information on the most popular aspects of the property in a manner that is as attractive as possible.
•    Escort the group to the parking area. Thank them for their visit, conclude on a positive note, and provide final contact information and/or terms. Encourage them to return as many times as necessary, within reason, and make return visits and or follow-up phone calls/Emails convenient for them.

Post-tour Review

Follow up contact with each and every customer after the tour. Thank the customer for taking the time to tour the building; provide a package of information that summarizes the customer’s needs, the features and benefits of the building, and any other aspect of tenant occupancy discussed during the tour. Take this opportunity to address any unanswered questions and to seek feedback.