In a down market, don’t stop marketing

Written by Susan Ratliff on July 9, 2008. Posted in marketing, Uncategorized

I know the economy is tanking and business is suppose to be bad all around, but I am not feeling it at Exhibit Experts.  Our clients seem to be finding the funds to continue exhibiting both here and abroad.  I am glad to see that because the most important time to market your company is when the market is down.

In these troubled economic times, many business owners are looking for ways to scale back on spending.  Often, the first cut is to the advertising and marketing budget.  Bad idea!.  Your business needs promoting, now more than ever.  The savey owner will increase marketing efforts, because the competition will be reducing theirs.

 

One of the most cost-effective ways to promote your business is at a tradeshow.  The Center For Exhibition Industry Research says, not only will you reach 7 times the number of qualified prospects at a tradeshow compared to other types of advertising, but those leads will cost 56% less to close than leads from the field.

 

There are 10,000 tradeshows a year attended by 120 million people who spend 100 billion dollars.  Nine out of ten companies ranked exhibitions as the #1 most useful source of purchasing information, because they could examine and evaluate competing products in one location.

 

Can you really make money from tradeshows?  75% of the attendees surveyed said they would buy something at the next show, while 57% said they’d buy within 12 months.

 

Big business has been capitalizing on the benefits of exhibit marketing for years.  With a little knowledge and some careful planning, even the smallest business can tap into this lucrative marketplace. 

 

To get the most from your next exhibit marketing experience, approach each event with a plan of action. Set specific goals and make the staff accountable.   Decide ahead of time exactly what you wish to accomplish, such as solicit leads, network with vendors or investigate the competition.

 

Image is important.  Create a dynamic display that showcases your product or service in an attractive manner and captures the professionalism and personality of your company image.  Use large pictures and succinct text messages that reinforce your marketing message and explain how you will benefit your customer.

 

Train your sales staff.  Develop a simple presentation everyone will use to engage, qualify and generate a lead from the attendees.  Add some excitement to draw attention to the booth and make sure you follow-up all leads in a timely fashion.  Following your plan will improve your productivity and increase profits at every event.

Susan

 

 

Tags: ,

Trackback from your site.