Trade Shows and Events: Thinking of Skipping Out? Think Twice.
Budget cuts and economic forecasts have many businesses cutting back in as many areas as possible. Oftentimes this includes trade shows and industry events. There is little doubt that trade shows are expensive. The cost of creating an attractive exhibit alone can be a bit much to swallow but factoring in space rental fees, set up costs, travel, lodging and dining is enough to make a business executive with only half the budget of previous years weak in the knees. Anyway, now that we have the Internet, we can cultivate and maintain conversations from the comfort of our own homes and offices right? Well, not really.
Even in the age of digital marketing, few would argue that there is any substitute for one-to-one face time with customers and prospects. And when you think about it, industry events and shows offer a fantastic consolidation of people in one place. Add to that the opportunity to check out your competitors and to possibly attend some helpful educational sessions and the case for attending builds quickly. Still worried there won’t be enough bang for the buck? Consider these thoughts:
• Tradeshow Weekly estimates most companies will cut about 20% of the trade shows in 2009 over 2008. This could mean that there will be less competition at the show. This could yield higher sales/lead volume per exhibitor.
• Many shows are offering discounts this year. Do your homework and inquire well in advance.
• Along the same lines, register early to take advantage of substantial early-bird discounts and avoid late penalties.
• Know of a complementary or non-competitive exhibitor? Consider booth sharing. It’s hard to beat splitting costs in half.
• Send out digital invitation and follow up literature to attendees when possible. Cutting out direct mail costs can take a slice out of expenses right off the top and it is highly effective in most cases.
• Need a new display, check out used trade show displays that can be updated with new graphics. If you can find a good fit for the need, you could save upwards of half the cost of a shiny new display. If you attend less than 5 shows a year, booth rental might be a good option as well.
• Make sure your graphic files are professionally prepared and thoroughly proofed before they are sent to print. Prepress services drive up output costs and wreck havoc on deadlines possibly leading to rush charges.
If you still can’t manage to foot the bill for all the trade shows this year, consider simply attending and walking the floor. You will still have the opportunity to gain valuable information, network and meet with key customers face-to-face. And in terms of building relationships, there are still very few gestures as effective as the good ole handshake.
Comments
One Comment on Trade Shows and Events: Thinking of Skipping Out? Think Twice.
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Nathan Richie on
Thu, 18th Jun 2009 12:45 PM
Great tips and reminders as show-goers adjust budgets and schedules in this economically challenged period.
Shows are still worth doing – for all of the reasons you point out. Many active exhibitors right now are backing their 12 shows a year to 3 effective ones with a better qualified audience.
While the inclination may be to pull back, don’t miss out on the other areas to reinforce your brand. Consider integrating your graphics and hardware into other opportunities closer to home.
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