The next 12-18 months will be one of the toughest periods that many will have experienced in their working history. A few of us remain who came through the last recession, but for the majority, this will be new. And not new in a good way. When you need to save costs, one immediate reaction is to look to your suppliers; going out to tender is a common occurrence when budgets need to be cut.
But is this the right thing to do? Your existing suppliers and service partners may be able to save you the required cash, as long as you work with them. Extended contracts, profit related bonuses, introducing new services into the offer are all initiatives that can improve bottom lines without losing invaluable experience. The same is true when it comes to solving what seem to be insurmountable issues.
When you speak to your suppliers, be open with them and clearly outline your objectives. Often there is a solution to your problem which you just don't know about yet. Now is the time that shared experiences can really reap benefits. Most problems aren't new, just new to you. If nothing else, a problem shared...
OK, so we are in the midst of a recession, times are hard and it certainly isn’t pleasant out there. But there is a light at the end of the tunnel! We are finding that some of our clients are bucking the trend and experiencing some of the most successful shows than ever before.
Although some companies have pulled out of exhibitions as they believe them to be an unnecessary expense or not a profitable exercise, (says to me that they have the wrong stand, the wrong staff or the wrong strategy), companies who are exhibiting are finding that the competition on the show floor is far less fierce and the fact that (generally) footfall at exhibitions has remained constant, this means that they have a far greater lions share when it comes to the all important visitors and target audience.
Another interesting piece of research we have conducted amongst our client base is that the quality of show visitor has increased during these hard times. This can be explained by the fact that staff numbers amongst some companies have dwindled leaving the figure heads to pick up the workload. Therefore, long gone are the days of PAs and researchers being sent to the exhibition to gather information and rack up a rather impressive bar tab, instead it’s the decision maker’s turn to hit the key shows and events, make a qualified decision and attract as little expense as possible during the process.
At Thinking Clear we live, sleep and breathe exhibitions and it’s such a shame that sometimes the first budget to fall is the exhibition spend. These decisions to slash the budgets are made, typically, without any real understanding as to how to get the best results form a show campaign. We see exhibitors on mobile phones, eating snacks or discussing where to head for the evening on stand… or worse… the dreaded salesman who simply will not let the visitor leave until they know every ounce of product information and has given the names of their first pet, first music record and first kiss! Get the key information required to follow up, don’t bombard them, and get them off the stand so you can bring a new prospect on… is what we say!
Just remember, you can have the most eye catching, awe inspiring stand at the show, but if your staff aren’t properly trained and your objectives not clear then how can you expect to attain a return on investment?! I’ll take a wild guess that some of you may be thinking… ‘How have we managed to get any leads in the past?! And if we have, then blimey, imagine how many we could get if we knew what we were doing!!’
Over the coming months I will be blogging many ways to ensure your future show is a huge success and if you’ve got a budget meeting coming up then please feel free to drop me a line, I’ll give you a few statistics you can draw all over the boardroom walls!
When you hear of exhibitions you either think of the one that’s on at that museum, you know the one I mean. Or you think of huge halls, expense, long hours and getting lost in the myriad of other businesses present.
But think again. Exhibitions and events are invaluable for growing your business because they allow face-to-face communication and offer opportunities for networking. They enable you to meet the people that matter to your business in one place. But you don’t have to spend thousands on a stand in Earls Court or the NEC. Small businesses can showcase themselves in the best possible light — at the right event.
Finding the perfect event for your business can look daunting, but our experts such as Steve Barratt of the Early Action Group Ltd and Phil Powell of CEVA Showfreight share their experience and tips with you — be it as an exhibitor, a visitor or even organiser.
Exhibitions and events also offer you the chance to keep up with industry developments. They can give you a snapshot of what’s new and you may get access to the movers and shakers. What’s more, they are a good opportunity to keep an eye on the competition. And who can afford not to?
On 20 April the Marketing Donut goes live — so make sure you bookmark the date to get all the advice on why exhibiting makes sense for your business.