Keeping the Costs Down!

Posted April 10th, 2009 by Karl

While there are some signs of early shoots of recovery it is still important to keep a tight rein on the costs and expenses; you are still attending and exhibiting at shows while the competition has been sleeping and this leaves huge chunks of market share and customers up for grabs but you still have to be profitable and generate business which pays for itself.

Here we go back to basics when it comes to saving money and maximizing the results from your trade show efforts.

Do Your Homework before the Show

Going into a show without proper research into the market and those likely to be attending is a surefire way of throwing money away.

Check the demographics of the trade show attendees from prior shows (management will have this) and look at who is going to be attending for the forthcoming show as well – again trade show management should have this but it is not always straight forward to come by – dig your heels in and insist, you’ve earned the right to this information by renting their space when many others have stopped.

Take the Time to Prepare

An ounce of image is worth a pound of performance but everything is for nothing if you haven’t prepared the way beforehand.

A major trade show will take your team some 12 to 18 months of prior preparation for it to come off as successfully as you intend.  Smaller shows take less time and if you have been around the block a few times you will quickly learn what is and is not important to generating maximum results from the show.

Always set enough time to prepare and train up your team so everyone knows what to expect, what their job is and ultimately who is responsible for delivering results which must be measured and assessed.

Management should be Top Down

The sooner senior management are involved and taking ownership of those parts of the process which are important the better for everyone.  Trade show displays are a great way to generate exposure and sales but they also require thorough planning and appropriate allocation of resources; the sooner senior management authority is brought to bear the easier everyone else’s job becomes and this saves a great deal of time and trouble for no cost.

Pre-Show Marketing

Do not rely on the trade show management to do your marketing for you; make sure you email and mailshot your prospect and client banks with the information and fact that you will be exhibiting as well as inviting them to come see you there.  Don’t hold back in letting the press know you will be there too – exhibiting at a show is usually worth a short piece or two in the local press as well as trade journals – a press release will cost you some paper and fax time.

Post-Show Follow Up

Too often trade show teams breathe a sigh of relief at the end of a show – end up in the hotel bar and celebrate with a party and a few pats on the back about a great time and some great contacts and sales.

Bad move and this costs millions every year to American businesses.

Once the trade show has ended your job has only just begun – now is the time to be getting on top of your team and making sure the follow up calls are initiated and meetings promised during the trade show are actually carried out and take place.  More money is to be made after the trade show than during the event itself but this is commonly ignored or not done well by exhibitors.