Exhibition Banner Stands - Ideas for challenging financial times

 

Even in times of financial difficulty, marketing and sales teams play a crucial role in the business –maybe even more so! It is no doubt that during tough financial times, the sales and marketing team will have to readjust and modify how things are done. Certain resources might be temporarily suspended, but that doesn’t mean that the overall tactics need to change. Every part of the company’s marketing and sales processes should be evaluated to make sure that the most effective systems are in place. If the budget is smaller, every action will need to lead to a precise action.

 

When economic times become difficult, trade show exhibits are heavily analyzed. Trade shows can be expensive and the immediate outlay of money for exhibit space, materials, transportation, hotels and daily expenses can seem out of the question. It’s easy to see why some management teams will decide against a convention appearance. They might choose to save money and during these lean times, the exhibits will not be worth it. But before you make this decision, consider how much your presence – or absence – from the trade show can impact your business.

 

The old saying is that you have to spend money to make money. This concept truly applies in the case of a trade show. Trade shows can significantly affect your business and can really make an impact for the future of your company success. Saving money now could put you on a slippery path to a less-successful future.

If you drop out of your trade show, it sends a bad signal to your future prospects and customers. They will immediately assume that you are not strong. Also, your competitors will have a better shot at these prospects; they will take advantage of the fact that you are not present. Your competitors will tell their customers that your business is on shaky ground and uncertain financial terms. Your competitors will be ready to swoop in and look like the healthy, strong alternative that your prospects will simply feel forced to choose.

 

Consider these suggestions before you and your trade show team decides to drop out of your industry’s premier trade show event. You can make the most of every opportunity presented on the trade show if you follow these ideas:

 

Do you really need your usual exhibit space? The important thing here is that your company will be at the show. However, if you still want to save money, consider getting a smaller booth size. If competitors or customers question why you have downsized, you and your team can simply state that your business is focusing on serving the customers’ needs during the tough economic times rather than have a fancy exhibit design and space.

Simple exhibit materials can go a long way. You can find a number of easy-to-set-up materials that can significantly help during your trade show experience. Also, these lightweight versions of your usual exhibit materials can be a great way to maintain your typical high-energy presence, while saving some money. Modular exhibits can give you a large cost savings, while giving you a striking setting to conduct business. After all, the exhibit will get them interested, but it’s your sales team and upper management that will close the deal.

Renting materials is another great way to save money during the exhibit while still maintaining a strong presence. Although it might not be your usual materials, you can save a great deal of money on transportation and time working out delivery logistics when you choose this route. You can have your rented products shipped to the exhibit and set up by workers who are very familiar with the convention area and its features.

Does your business have local offices? Consider manning your booth with local associates who will relish the opportunity to meet the prospects and important customers. Plus, your business will save a great deal on hotel and rental cars.

When money is tight, fewer customers and prospects can afford to travel long distances to see the trade shows. For this reason, consider doing a number of local shows that will attract more people as the national shows become too expensive to entertain. These local shows are often afterthoughts during flush times, but when money becomes tight, a customer’s needs still exist and local conventions can become a hot spot for leads and conversions.

Look for additional non-product offerings that can entice your prospects. Discounts or free warranties, low-interest payment options, trade-in allowances, lease to own options and more can all be highly enticing add-ons that will enhance and add value to the overall presentation at the trade show. During lean times, these values additions can potentially push a prospect into a serious customer.

Ensure that your sales team follows up with leads right away. Business leads can be tough to get so show a customer that you are the best choice by following up immediately after the show. The management team will be critical in responding to potential leads and the request for more information from a customer.

The press will cover your trade show. One of the key elements to your company’s success is staying on the lips of industry movers and shakers. By arranging meeting with editors and having a full press kit handy, your company can stay in the forefront of the industry, holding court as one of the top contenders.

Finally, if you are debating trade show attendance, other competitors will be debating attendance as well. If you appear and demonstrate a strong approach, you will have a much smaller pool to compete against, making every deal you strike appear even greater.

 

 

Just like everything else in life, economic times follow a general cycle. There will always be up’s and down’s. It’s a matter of riding out the lower times that will cement your business’s place in the marketplace. Learn how to survive during the lean months when you find success at trade shows.