Adopting the Hosted-Buyer Model Pays Off for the Independent College Bookstore Association

Highlights
How the Independent College Bookstore Association adopted the hosted-buyer model as its relationship-building format—and why other organizations are doing the same.

Here's how it works. When buyers and vendors sign up for PRIMEtime, ECRM account managers contact the buyers and sellers, who download the MarketGate software. Then buyers and sellers communicate in advance of their meeting. Buyers can download all the necessary catalogs and forms they need to prepare for the PRIMEtime sessions, while vendors can ask buyers what product areas they want to discuss.

At the live meeting, ECRM staff is on site, working the hallways to make sure appointments are on schedule and everyone knows where they are going. Staff also provide participants with a tablet PC, which includes appointment schedules and can be pre-loaded with product information, brochures, and past e-mails between buyers and vendors.

Participants are allowed to keep the PCs, so when PRIMEtime ends, communication between parties continues. "Most people will tell you one of the hardest things about trade shows is, once it's over, within a week you almost have to start over because people see so much and they recall so little," Waymire says. "This software allows them to recall everything they saw, everything they did, and everyone they met."

The View from Vendors and Buyers

Since PRIMEtime launched, it has earned high marks from both vendors and buyers. James McCollough, national sales manager at J.America Sportswear, Webbersville, Mich., calls it his favorite meeting of the year. In the two PRIMEtimes McCollough has participated in, J.America has landed 40 new customers — some for just one order, others for an entire clothing line. J.America exhibited at ICBA before PRIMEtime and was impressed with the quality of attendees the show attracted. But this format is superior, McCollough says, because it puts him in front of decision-makers for 20 minutes, uninterrupted.

The room set-up is simple, basically just McCollough and an assistant on one side of a table, with the buyer sitting on the other side. The ECRM software enables him to tailor his presentation to each individual buyer. He knows in advance what lines they are interested in, so he doesn't have to waste time going through his entire pitch.

As the head of sales, McCollough takes the leads gathered at PRIME-time and sends them out to the various sales reps across the country.

McCollough says the cost of PRIMEtime is worth it. He pays about $15,000 and sees about 30 buyers, so the cost per buyer is $500. He would have to spend much more than that to have face-to-face meetings with 30 clients if he had to travel to each of their offices. Plus, the price is less than half of what it costs him for a booth at the largest show in the industry.

"The other shows are a necessary evil," McCollough says. "You have to be at them for brand awareness, but there isn't another show that's as effective at building relationships."

J.America shows at about 10 exhibitions each year and has cut back on some regional shows. But this is "by far my favorite format and the one we get the best return from."

Heading into his third year of participating in PRIMEtime, McCollough now views the event differently. Having met most of the buyers in the past, he says PRIMEtime will be an opportunity to strengthen relationships with buyers who are now customers and show them new products, review lines, and answer any questions. "We basically just sit and talk about how we can do things better."

When does PRIMEtime no longer become necessary for a vendor? "I really don't know the answer to that question," McCollough says. He is committed to PRIMEtime for the next three years and says the event is valuable even if it's only a place to strengthen relationships with existing clients.

Relationship-building is what Diane Wirth, apparel buyer at The Duck Store at the University of Oregon in Eugene, likes best about PRIMEtime. Wirth has participated in PRIMEtime for the last four years; she meets with vendors she's already doing business with to review new lines and have a dialogue about prices. And each year there are a few new vendors to meet. "ICBA definitely has become a very important part of our buying plan."

The fact that ICBA pays for transportation and registration is critical, especially in this economy, Wirth says. "It makes it much more accessible and easier to put into your travel plans, because you are looking at every expense right now to try and decide whether it's necessary."

RSS Share

Want to use this article? Click here for options!
© 2010 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Search for Meeting Space

Find Event Suppliers, Request Quotes

Search 100,000 Venues


Advanced Search

The Meeting Planning Blog

Face2Face Latest Posts

Sign Up for Our Free E-Newsletters

Meetings Collaborative

Rate your experience with meeting venues and suppliers.

Facility / Hotel

 
Powered by: Meetings Collaborative
Aega Awards

Apex Webinars

Demonstrating Leadership in Turbulent Times

Join MeetingsNet, the Convention Industry Council, and two meeting professionals to learn how seeking out professional development and volunteer opportunities can enhance your career advancement. Click here for free registration.
View it Now! | View APEX Archives

Webinars

Medical Meeting Compliance: It Doesn't Have to Hurt

Overwhelmed by state and federal rules about what pharmaceutical meeting planners can—and can’t—do with meetings that involve healthcare practitioners? We’ll help you take it one step at a time. Join us August 5th from 2 p.m. to 3 p.m. ET.
Register Here! | View Archived Webinars

Recent Comments

Powered by Disqus

Back to Top

Explore Our Newsletters


Meeting Planner Survival Guide

Whether you're a novice planner or a veteran, this compilation of must-read articles is your meeting planning resource.

Pharma Meeting Management Forum

Medical Meetings and the Center for Business Intelligence co-organize the Annual Pharmaceutical Meeting Management Forum.

Visit our photo gallery from the Sixth Annual Forum.

Suppliers/
Facilities/CVBs

MeetingsNet makes it easy to find the CVBs, tourist boards, and facilities you need for your next meeting.

Deal Finder

Special offers brought to you by MeetingsNet.

Find A Job

Targeted to all aspects of the hospitality and special events industry.

Education
Central

Upcoming Events, Live and Online

Facebook   Twitter   RSS Feed   Email

Inside Current Issue

June AM

June 2010

April AM

April 2010

February AM

February 2010

December AM

December 2009

Feb MTNGS Cover

October 2009

Browse Back Issues