An event attendee who is hosted by the organizers and often includes travel and accommodation.
In the context of trade shows and business events, a Hosted Buyer is a pre-qualified, high-potential customer who is invited and sponsored by the event organizers to attend the event specifically to meet with exhibitors [1, 2, 3].
Here’s a deeper look at the concept of Hosted Buyers:
Benefits for Hosted Buyers:
- Free or Discounted Attendance: Hosted Buyers typically have their travel, accommodation, and meals covered by the event organizers, making it a cost-effective way to connect with potential vendors.
- Pre-Arranged Meetings: Organizers facilitate pre-arranged meetings between Hosted Buyers and exhibitors most relevant to their needs and buying power. This saves them time and ensures they connect with the right companies.
- Efficient Networking: The structured format allows Hosted Buyers to have focused and productive meetings with multiple vendors in a short timeframe.
- Access to New Products and Services: Hosted Buyers gain exposure to the latest offerings from a range of exhibitors in their industry.
Benefits for Exhibitors:
- Qualified Leads: Meeting with pre-qualified Hosted Buyers increases the likelihood of encountering high-potential customers with genuine buying power.
- Targeted Interactions: Pre-arranged meetings ensure exhibitors spend their time connecting with relevant decision-makers.
- Increased Sales Opportunities: The focused interactions with Hosted Buyers can lead to more sales leads and potentially closed deals.
- Brand Awareness: Participating in a Hosted Buyer program allows exhibitors to showcase their products or services to a targeted audience and increase brand awareness.
How Hosted Buyer Programs Work:
- Selection Process: Event organizers typically have a selection process to identify qualified companies and individuals to participate as Hosted Buyers. This might involve considering factors like buying history, industry relevance, and potential deal size.
- Travel and Accommodation: The event organizers usually cover or significantly subsidize travel, accommodation, and meals for Hosted Buyers.
- Meeting Scheduling: Organizers facilitate pre-arranged meetings between Hosted Buyers and exhibiting companies based on compatibility and potential fit.
- Post-Event Follow-Up: Both Hosted Buyers and exhibitors might have access to follow-up resources or tools to facilitate further communication and potentially finalize deals.