Trade Shows – Smart Move or Risky Business?

by Rupa Patel, Vollmer Public Relations

Halfway through 2009, it’s safe to say that economic concerns remain top-of-mind in the business world. Eager to find ways to cut budgets and expenses, more companies are putting trade shows on the chopping block – a move that some call a no-brainer and others call risky. So with purse strings tightening and budgets being slashed left and right, why should companies keep trade shows as part of their marketing and sales mix?

Exhibitors:

There’s no time like Face-Time. Face-to-face meetings get you visibility that no amount of blogging, tweeting or other tech-forward, budget-friendly communications channels can duplicate. Buyers want to see which companies are out there and talk with the people behind the products. If they’re going to invest in you, they want to have a face that goes with the company and a history with you that tells them their investment is a safe one.

A buyer may not have money to spend now, but when they do, you want to be the last company they spoke with and the first name they remember.

Hundreds of Birds, One Stone. Compare the expense of having to make multiple sales calls to each and every one of your prospects compared to the cost of making one trip with all of your potential buyers together under one roof. While doing a show is by no means cheap, it’s a small price to pay for the short and long-term payoff of leads (not to mention possible media exposure) that can be gathered over just a few days.

Remember: A friendly 15-minute chat at the registration table can mean the
difference between making multiple trips to woo a possible client and being able to pick up the phone and make a deal.

Buyers:

Take Advantage. Having multiple suppliers in one place means you can weigh your options against each other and make a more sound decision versus having to compare multiple offerings over a few weeks or months worth of sales visits.

Remember: These events are full of exhibitors just as eager to make a sale as you are to get a great deal. Take advantage of the opportunities to scope out all your options and get the most bang for your buck.

Tricks of the Trade. What better way to hear what’s working and what’s not than from those who have already tried it? Conference sessions and roundtable discussions can help you save the time and expense of having to work out new project kinks by getting first-hand information on how to move forward as effectively as possible.

Remember: Show sessions have tools to improve business processes and create efficiencies that can save more than their fair share of valuable dollars in the long-run.

So yes, trade shows are still worth the expense. Does that mean you’re stuck shelling out thousands of dollars for a three-day stay in Las Vegas? No! There are always options for even the strictest of budgets.

• It’s not an “all or nothing” game Go to one show, maybe two, not 12. Research your options and check out each event’s show offerings, sessions and track record for return attendees.
  
  


• Go to the source Contact show organizers and see what they’re doing to get qualified buyers and exhibitors to you, even if it means sacrificing higher attendance numbers. Having 1,200 people on the exhibit floor doesn’t matter if only 200 are interested in making a business deal.
  
  


• Watch deadlines All conferences offer early registration discounts, keep these dates on your radar and make sure you are signed up in advance. Your savings can be used for other marketing / sales initiatives or to cover the expense of sending another staffer to the show.
  
  


• Professional membership Many professional organizations offer members discounts to industry events. Look into member rates or see how the cost of membership compares to ongoing trade show savings opportunities.
  
  


• Speakers / sponsorships Speaker and sponsor perks often include free show passes. Checkout sponsorship and speaking opportunities, which generally range from individual presentations to group panel discussions. Also, time and monetary comparisons with your current schedule and costs.
  
  


• Booth packages Shipping costs always catch people off guard. Look into renting booth packages on site. The savings from not having to customize a booth and ship it to the show will be worth the extra planning.
  
  


• Complimentary / Floor passes Many shows offer complimentary or floor passes that limit your show access. You may miss out on speakers and sessions, but if your primary goal is to find a vendor or make a sale, getting onto the exhibit floor is clearly the priority.