Expoplatform
Bringing hosted buyers the right way
Mykyta Fastovets wonders whether technology is bringing
hosted buyer programmes within the reach of smaller organisers
successful hosted buyer
programme for an
international exhibition
is no small undertaking
for an organiser. It’s the result of a
year-round effort by teams often
based not only in the host country
but in offices at any one of the event’s
primary or evolving source markets.
It must be flexible, as these
programmes are targeted at VIPs
on whose presence the attendance
of some exhibitors will be based. A
cookie-cutter approach will not work,
as knowledge on each buyer is the
only way to make sure they are given
attention specific to their needs - and
these needs can vary greatly. Hosted
buyers often have their own VIP
lounges with complimentary lunch
and refreshments, and transfers
between the venue
and their hotels. They may be
provided with their own
networking events.
They often have
their own education
programmes, defined
by whether they are
an association,
agency or
corporate.
For
organisers
with several
geo-clones of a
single event, each with its
own hosted buyer programme,
each programme must also
be specific to the regional or
international, inbound or
outbound business.
It is a rewarding practice but
highly labour-intensive. Too
much of an undertaking for all
but the largest international
organisers.
52
Issue 1 2020
Bottom,
right: Mykyta
Fastovets, CTO at
Expoplatform
Or is it?
The application of technology
can make this process much easier
to manage. For example, the act of
finding the right hosted buyer can
be simplified by creating a system
alongside the personal invitation
route, in which prospective hosted
buyers can apply online through an
event’s website for automated pre-
qualification based on a set of rules.
The core value of the hosted buyer
programme comes down to more
predictability and to the de-risking of
the event experience for exhibitors.
This is often done by requiring hosted
buyers to arrange and/or attend a
certain number of meetings during
the event. Whether the meetings
are pre-arranged by the organiser
or arranged directly by the buyers
and exhibitors, it is the organiser’s
responsibility to ensure that as many
relevant meetings as possible take
place. This is one of the key areas
where a technology solution can
help, by suggesting the most relevant
connections
based on the
profiles of buyers
and exhibitors. This not only
drastically decreases the required
effort for the organiser, but also often
provides better matches.
Technology also avoids the pitfalls
that accompany the creation of a
hosted buyer programme.
In many instances, an organiser
will require the services of a third-
party agency to bring in the right
buyers. In some cases, these will
work with a local partner in the
source market with knowledge of the
industry. Technology can alleviate
such concerns through transparency,
and avoid such abuse of the system.
It enables an organiser to define
which buyers are truly valuable to
their exhibitors, both through the
creation of profiles and by measuring
behaviour.
During the event, this technology
can also be applied to influence
and track buyer habits, such as
scheduling and assessing the buyer’s
attendance at pre-approved meetings,
and understanding how useful the
meeting was.
The administrative burdens
of managing buyers, required
documents, issuing refunds etc.
is also very time-intensive, and
can be streamlined to reduce
the administrative burden – and
therefore the cost of running hosted
buyer events.
Last, but not least, the journey
of the buyers and exhibitors must
be straightforward and seamless,
from registration and approval, to
document management, to meetings
and matchmaking, to organiser’s post-
event reporting.
Perhaps the idea
of a hosted buyer
programme for
your event is not
so unfeasible as it
seems.
w w w.exhibitionworld.co.uk