Do you feel the current economic climate warrants that business tactics be ‘revised’ at the earliest? Or are you planning to skip a trade show coming up soon? It is an obvious, triggering thought for every entrepreneur when facing an abrupt economic meltdown. When exhibiting, marketing, strategizing — expenses shoot up high. It can be a turbulent survival time. In order to make business run smoothly, the marketing mix needs to be prioritized, reevaluated, modified repeatedly. Trade shows remain incredible tools to get your business accelerated and fortunately, can work under tighter budget plans.
It is expensive and time consuming to secure venues, rent booths, complete materials, hire labor, book transportation, lodging, shipping, etc, and you might feel that a corporate event or trade show is insurmountable and may forego hosting the event. But before you make that decision, think — is it wise to leave potential prospects on the table and let competitors get the edge? Also, what will your absence reflect about your company with customers? Moreover the devastating fact is that your competitors may leverage your absence as an opportunity to flourish. A recent study by CEIR was quite surprising; it showed how exhibitions stand out as a recession-proof tool during economic crisis. Let’s see how we can remove the perception of the extravagance of exhibitions and see how it can be one of the most successful business tools.
Custom Apps Slash Money and Time
As part of your marketing mix when exhibitions or trade shows top the list, time and money go hand-in-hand, placing more challenges on you. You’ve got hours on the exhibition floor where you need to get maximum user networking. With rising expenses this becomes a hurdle for many organizations. You can take control of time through custom tailored exhibition, event apps, and allow it to run everything smooth for you. Mobile app companies like DoubleDutch, PropellerMobile, QuickMobile, EventMobi have created sophisticated event apps to boost meetings in a cost-effective way. Now, an event app can cross boundaries of distance, allow users to plan and schedule time, and reduce expenses. Mobile app offers delegates, exhibitors, organizers, speakers, visitors ten-fold benefits — live interactions, real-time sessions, time management and more.
Leverage Social Media
It is a well known scenario that social media plays a vital role in event promotions. As you work on lead generating effective methods, online tools like social media are an inevitable approach to reap maximum exposure, while cutting unwanted costs. It is true that apps connect you through social networks; however, getting your presence prominent in social can help you gain more attendee information, saving time and cost barriers. Social platforms let you get introduced to your attendees ahead of time, allowing you to be an informed participant in meetings.
Follow Up With Customers
Though the target audience is a wider group, due to cost saving strategies, you can only achieve the best impression from the local attendees where the sales is conducted. Get more opportunities by exhibiting to the fewer customers. If the sales management is efficient in responding to the customers’ requirement even after the show, this could elevate business prospects on the floor even during the economic fall. Follow-up is critical for an exhibitor to converge the ‘lurking-around’ sales.
Take Advantage of Press
A successful exhibitor always seeks to offer reporters a complete press kit. Media can take your marketing efforts to higher levels, even during challenging times. You know that media or consumer press would take a look at your exhibition to know about the product and latest news, therefore it is important that you set a meeting beforehand with reporters or editors about the product, goals and services, letting the right news be delivered. The money you spend for arranging interview or for kit is a necessary expenditure that can pay off, even with a tight financial plan.
Do you have any cost effective tactics to bring down rising expenses at your event? Note your ideas in the comments section below.
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