How an Agency Generated New Business of $252K Revenue at a Tradeshow
I wanted to share a great marketing agency case study that increased their agency new business revenue from $18,000 to $252,000 just by attending a trade show. They did this by developing a “Foot in the Door Offer”, which is a small tiny sale that turns a prospect into a paying client.
They marketed a small video service to the attendees of the trade show. They charged a super low fee of $20. For the $20, the customer got a short video of themselves speaking on camera which was edited, uploaded and optimized for people to find them on YouTube.
The marketing agency was not making any money on the $20 fee, but they knew if they could convert a prospect in to a client, they could up-sell them a premium service later on.
Developing this “Foot in the Door Offer” gave them an authority position of which made their new customer 20 times more likely to buy from them in the future. Here are the numbers to back this up…
- 2,000+ attendees at the trade show
- 600+ people approached booth
- 87 people bought the “tripwire” – $20
- 19 converted to $500/mo core service immediate
- 23 more converted via phone after results
The year before they did the “Foot in the Door Offer” at the same show, the converted only 3 clients at $500 a month. The trade show with the “Foot in the Door Offer”, they converted 42 clients at $500 a month. Also they had 87 other “Foot in the Door Offer” clients they could market to later on. Plus, the “Foot in the Door Offer” sales actually covered the booth costs. Pretty cool!
- Before: 3 clients at $500/month = $1,500 x 12 months = $18,000
- After: 42 clients at $500/month = $21,000 x 12 months = $252,000