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Is this the Year to Skip Your Big Trade Show?

The past few years have been tough ones for consumers. High unemployment, declining income, a devaluing dollar, and inflation, often not reflected in official government inflation indexes, have all created downward pressures on sales activity.

Uncertainty about future economic conditions and prospects have caused many consumers to conserve whatever discretionary income
they may still have, as a contingency fund, and a buffer against potentially worse times ahead. In this environment businesses have had to lower prices for their goods and services, just to retain market share and sales activity.

When operating budgets have already been cut to the bone and every possible cost saving measure has been implemented it is tempting to look at cutting the marketing budget, just for a short time. This is what businesses do when they are ready to throw in the towel and fold.

Here are several reasons why eliminating trade show displays from this year’s budget is a bad idea:

1. The goodwill you have built up over the years with trade show displays can be eroded and your previous marketing investment degraded if you don’t maintain your marketing presence.
2. Your existing customers will be expecting to see you again at this year’s show, just as they have in the past.  They may even be planning on taking advantage of this opportunity to engage you in a festive environment free of other pressing demands on your and their time.  Imagine what perceptions might be created in their minds by your absence, and the damage that could potentially be done to your company’s image.
3. Your competitors will capitalize on your absence to increase their market share.  The absence of your input could cause many potential customers to make unwise choices.
4. There has been a culling of businesses, and some of your competitors may not be at the show this year.  You can take advantage of their absence to cultivate new relationships.
5. This is an opportunity to gather intelligence about your competitors, their products, and their newest strategies.  You can also keep tabs on new and upcoming entries in your field.
6. Rubbing shoulders with your competitors could help all of you find better ways to meet customer’s needs and bring more revenue into your industry that is currently being spent elsewhere.
7. Participating in trade show displays gives you a break from the same old routine, and helps you get re-motivated, and come up with creative new ideas.

Times when activity is low and potential customers are not thinking of buying what you are selling, are just the times when marketing and advertising should be increased, not decreased.  This is when consumers need information even more than before.  Show them how your product or services can benefit them and they will happily do business with you.  People still want to be sold something they need or will enjoy.

We are all in business for a reason.  We are being tested right now.  I think we are up to the challenge.  Don’t give up, don’t let Atlas shrug, look to succeed and grow. And if you need help with your trade show displays, give us a call to help find the most cost-effective solution.

For more, check out upcoming trade shows or check out our guide to pricing strategies.