Tuesday, March 18, 2014

MTInsight's IMTS 2014 App: Lightning Strikes Twice

MTInsight's IMTS 2014 App: Lightning Strikes Twice
Dave Edstrom
In May 2012, I wrote an IMTS Insider article called, “The Killer App from MTInsight: IMTS 2012 App.” As I wrote in that article, a killer app is defined as an application that is so innovative that it creates its own category. It sells itself because it becomes an “absolute must-have.” Well, lightning has struck twice because the MTInsight's IMTS 2014 App is not only a killer app, but if you are an IMTS exhibitor and have not yet looked into what this app can offer you, then you are missing the single greatest opportunity to go from having a good IMTS experience to having a great IMTS experience. No matter the size of your booth, you should absolutely invest in MTInsight's IMTS 2014 App because it is the best bang for the buck going for IMTS.

 Two years ago, I wrote “MTInsight's IMTS 2012 is a killer app because 9 out of 10 exhibitors who receive a demo from AMT's Steve Lesnewich, Mark Kennedy or Kim Brown buy the IMTS 2012 App. Let me repeat that number in case you thought it was a typo — a 90% close ratio. Certainly Steve, Mark, and Kim are fantastic at what they do, but I would suggest that it is the tremendous value of MTInsight's IMTS 2012 App that basically sells itself.” IMTS 2014 is built upon the rock solid capabilities of the 2012 app. We have taken an over-the-fence home run and knocked it completely out of the park this time.
Many readers of the IMTS Insider have attended one of the IMTS 2014 workshops, where the MTInsight team talked about Identify, Invite and Impress at the as the pillars for the IMTS 2014 App. I believe there is a fourth pillar of the IMTS 2014 App and it is “I2” or “Increase Income.” IMTS exhibitors want to put money back in the till from new sales that never would have occurred if not for being at IMTS and using the app.
The killer IMTS 2014 app
Let's look at what happens at IMTS without the IMTS 2014 App; in fact, it is what happens at every trade show. Whether or not it is a manufacturing trade show, such as IMTS, or one of the other countless trade shows, the problems are the same. The number one challenge is getting the most number of qualified customers to your booth at the right time. While that sounds easy, it is quite hard, as all of you exhibitors know.
The first pillar of the IMTS 2014 App is Identify. How do you identify the right leads for your company at IMTS? MTInsight's IMTS 2014 app is the only source to reach out to those who have registered to attend IMTS 2014 prior to the show. There are a number of categories to select from to really focus on the types of prospects that you want to invite to your booth.
There is also a second important aspect of the first Identify pillar and that is booth staffing. How do you identify the type and number of people that you need in your booth? What is the right combination of sales people and technical people? What day and what time do you need the right combination of sales and technical people? Do you schedule a small seminar in the morning or in the afternoon? Which day is best? When should lunch be scheduled? When can folks leave the booth to go meet with someone else or check out the competition?
Think you need a crystal ball for those questions? Think again! Those questions can be answered with MTInsight's IMTS 2014 App, which shows attendance in different parts of the buildings on an hour-by-hour basis for the previous IMTS, a good indicator of traffic for the coming year, as well. The savings from properly staffing your booth can pay for the IMTS 2014 App many times over. This is before you have registered one additional sale because you purchased the app.
Invite is the second pillar and where we have enhanced the IMTS 2014 App. In 2012, we heard from a number of users of the IMTS 2012 App that they absolutely loved the app, but if they had one request, it would be to have a built-in way to email registrants. Well, that feature has been added to the 2014 app! It works in four easy steps:
  • Setup your email campaign
  • Select your list
  • Create your email
  • Send your email campaign
There is also a campaign reporting function that can be helpful in tracking different email campaigns.
The third pillar is Impress. After you have invited a prospect to your booth, you have an opportunity to do some research on that prospect ahead of time. You can learn about their business and some of the challenges they are having before they show up at your booth. As we all know, that is the difference between a typical salesperson and a great salesperson. This pre-work will allow you to impress your prospects and hopefully lead to the final pillar, which is “I2 — Increase Income.”
Hopefully, at this point, you realize that the ROI for MTInsight's IMTS 2014 App is not just the additional sales that can be pinpointed of the app, but rather there are a number of areas you saved money. Money was saved by properly staffing your booth and reaching out to the right set of registrants. These are the registrants who can best be served by your products or services, so that you have a much higher ratio of prospects versus tire kickers.
What about the top line? What about income? If we looked at the average price of a product or service at IMTS, it would only take one or two additional sales to pay for the IMTS 2014 App. How often can you say that about a product?
MTInsight Apps
If all this sounds too good to be true and you are questioning some of my claims, then please request to see a demo! You can go to www.MTInsight.org and request a demo of the IMTS 2014 App.
Finally, if I could offer only one single piece of advice for any exhibitor at IMTS 2014, go buy MTInsight's IMTS 2014 App. It will be the best investment that you will spend this year for any trade show that you attend. This is why I believe that lightning truly has struck twice with the IMTS 2014 App. Make your IMTS 2014 the best ever and buy MTInsight's IMTS 2014 App today!
MTInsight is the name given for the platform of game-changing business intelligence tools that are critical to succeed in today's manufacturing world. As is stated on the website, “MTInsight is based on three key elements: dynamic software, AMT's experience and analysis, and our unique data warehouse — all of the information AMT tracks on your markets, benchmarking surveys, industry forecasts, your competitors, customers and supply chain.” Go to the website to see all the other apps available to help you become more successful.