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HOSTED BUYER PROGRAMS have been around for the last two or three decades, but recent success stories have sparked considerable interest in these highly targeted programs. Just take a look at the American Business Association's Marketplace, which generated $78 million in sales in 2012 (see Show Scoreboard, page 16 in the May issue of Trade Show Executive). And last year, Reed Exhibitions launched the Americas Meetings & Events Exhibitions (AIBTM), a clone of its successful Global Meetings & Events Exhibition (EIBTM) in Europe, with a resounding success that got many in the industry talking. "I launched my first hosted buyer pro- gram in 1998 for A/E/C Systems," said Phil McKay, president and CEO, Te nGage Events LLC, who is no doubt an industry pioneer and champion for the cause. Since then, McKay has successfully launched hosted buyer programs for a number of major media companies, including Gartner and Questex Media. His new company is launching two host- ed buyer programs in 2012 — one for the juvenile products industry and one for the hedge fund community — and the recent acquisition of the M3 Mobility Exchange, an event he launched at Questex. "Te future is very bright for hosted buyer programs in 2012 and beyond," said McKay. "Tey are more accepted now than in the early years. Sponsors are more willing to support these events, and buyers love the format because they can accomplish a year's worth of meet- ings in a few days." Indeed, Reed began investing in this concept in 2011, with the launch of One2One, a dedicated team focused on delivering strategic business summits. Te group launched three hosted buyer programs last year and has plans to announce more in 2012. Last year, Reed launched Vision One2One, Campus Security One2One and Healthcare Security One2One. Reed's events are designed to bring together a community of 25 to 50 vendors with 50 to 100 buyers. So with small businesses, major media companies and associations all jumping on the bandwagon, the questions are: Are there opportunities for this segment or is the market saturated? What key questions should you ask to make a determination if your industry is ripe for one? Trade Show Executive talked to industry leaders who have produced successful hosted buyer programs to find out what works and what doesn't. While these events can take many forms, one thing is clear: It's not like running a trade show. Trade Show Executive presents three case studies that examine the key challenges for launching a hosted buyer program and how to keep them fresh once they are off the ground. NGAGE Perfecting the Board Room Model "Tere are many types of hosted buyer models that work," said McKay. "I prefer the board room/case study model, where we focus on attracting a higher level buyer and seller to an intimate setting at a resort location." For its M3 Event in November, nGage expects to attract 150 enterprise-level buyers and sellers to the Hotel Del Coronado in San Diego for three days of one-to-one meetings, networking, entertainment, case studies and keynote speakers. For McKay, content is king. "Te No. 1 challenge is coming up with content that is relevant and inspiring to get attendees, and in turn vendors, to take time out of the office," said McKay. "Time is becom- ing more and more precious." To develop relevant content and identify key buyers, nGage typically partners with industry consultants and experts. "Tey can open doors and legitimize our presence in the market," said McKay. "Tey help develop content within our parameters and create the right list of buyers and sell- ers. We do not buy lists. We create them in-house, and they are carefully vetted. Te experts may even become part of the team." Tis is an important component for nGage since it is launching hosted buyer programs in markets where they don't have an established community con- nected to a publication or association. "Creating a community before, during and aſter the event is part of our strat- egy," said McKay. "But we can develop a community much faster than a trade show because we focus on smaller, niche markets that are clearly defined." So how does McKay, who has launched dozens of hosted buyer programs in the last 15 years, evaluate market potential? "We look for industries that are expected to post sustained growth for four to six years," said McKay. "Tese events can be successful in many industries — such as niche technologies, retail, manufacturing, Key Components of Hosted Buyer Programs y Typically the organizer pays for the buyers to attend the program, and sellers pay a higher fee to meet with high-level qualified buyers in a more intimate setting than a trade show. y The organizer usually facilitates appointment setting in advance of the event to guarantee that buyers and sellers meet on site. y Appointments typically range from 5 to 30 minutes, depending on the complexity of the product and the value of the sale. y Sometimes education and keynotes are critical component, but not always. y They can be held in conjunction with a larger trade show, or they can be held separately at a resort location with 5-star amenities. The venue possibilities run the gamut. y Some are small, with less 50 attendees, and some are very large, with several thousand. www.TradeShowExecutive.com | October 2012 37