Egan’s Entries on Exhibits and Events
Everyone’s looking for ways to cut costs and do more with less. The same goes for folks in our industry. How and where can we trim the budget so we’ll see savings, without people at the show noticing we’ve been cost cutting? Here are my top five suggestions for how to reduce your exhibiting expenses, without sacrificing the effectiveness of your efforts:
1. Everything’s Open To Negotiation:
Virtually every element of participating in a trade show is open to negotiation, from the cost of your exhibit, to what you pay to get your exhibit shipped to the show—and everything in between.
Consider what’s written on a quote (or even a contract) as the starting point for your negotiations with that supplier. Always ask for a discount. Every dollar you can save on hotel rooms, premiums, I&D costs and any other expense, is money that stays in your budget for other expenditures, or for reducing your overall budget, which management always seems to appreciate.
2. Reuse, Refurbish or Rent
Rather than buying a new exhibit, consider reusing your existing properties, refurbishing what you’ve got, or renting a booth. These options are almost always more cost effective than purchasing a new booth.
When is it cheaper to buy new? When you take the long view and literally “weigh” the costs of exhibiting over time.
If your existing booth is getting too expensive to ship, it may be time to consider a new exhibit, taking weight into consideration. With cutting-edge materials and the things that can be done with fabric these days, a new design can cut your shipping costs substantially. In the long run, a significant chunk of the purchase price may be offset by the savings in drayage costs.
3. Invest In Your Brand
Don’t go it alone when exhibiting at trade shows. When it comes to consumer shows, consider going into partnership with your dealers or distributors. Your marketing dollars allow them to make a bigger splash on the show floor than they could on their own, and you extend the reach of your exhibiting program into end-user shows.
You might even consider “show special” promotional tie-ins with your retail partners, where a ticket stub from the show is good for a discount at retailers’ locations. Promote the show in their stores and promote their stores at the show, and everybody wins. It would also be easy to create a page on your corporate website for a web-based promotion, especially for local or regional dealers or distributors. At these shows, numbered tickets could be given away, and the recipients would need to visit the company’s site to match their ticket number for the grand prize: your product or service. That’s a big promotional opportunity with very little cost involved.
4. B. Y. O. Blank
Trade shows are geared for convenience: you can arrange for your booth to be cleaned, your trash to be picked up, power strips and surge protectors to be provided—all at a substantial cost. If your exhibitor’s manual allows it, plan to bring your own cleaning supplies, trash cans and liners, power strips and surge protectors (even extension cords) and anything else that’s not expressly forbidden. Refer back to #1, and see if you can negotiate doing these things yourself.
But believe me, you don’t want to try this at a show where unions have jurisdiction over these areas. Unhappy union members can become uncooperative union members very quickly.
5. How Much Is A Lead Worth?
Here’s my favorite tip for getting the most bang for your buck. Honestly, I’m still surprised at how many companies go to all the trouble and expense to exhibit at a show, and then drop the ball when it comes to following up on leads. Don’t let your company be like this.
I suggest you calculate the total cost of your participation in a show, then divide that total by the number of leads you gather. That makes each lead “worth” X amount of money. This isn’t creative bookkeeping; you actually spent that much money to get these leads. Share these figures with management, because you’ll need their support for the next step.
Ask your superiors to impress upon the sales team what each lead is worth, in terms of the company’s dollars spent to acquire it. That money won’t be going out in raises or bonuses—it’s been spent already, in search of new business. If those leads aren’t adequately followed up on, it’s like lighting a match to the money your company invested.
There you have it: five tips for getting the most bang for your trade show buck. These are some of my favorites, but I’m sure you have ideas of your own. I’d enjoy hearing from you with your own field-tested money saving strategies. Share them with me—and your colleagues—by leaving a comment.
Dave Egan is the head writer at Writers Direct Group, a full-service outsource writing resource for live trade show presentations, product demos, exhibitor’s literature, websites, company newsletters, as well as marketing copywriting, executive speeches and other written or spoken word communications. Contact him at 877-7 GET-WDG or Dave@WritersDirectGroup.com.
