TOUGH TIME = MORE OPPORTUNITIES!
There’s no denying we live in interesting and, arguably, the most
economically challenging times we’ve seen in decades. And it’s
interesting to observe how differently companies handle themselves when faced with the same situation.
I can’t help but be reminded of the ‘glass half full/glass half empty’
cliché.
When exhibiting in tough times, making a few adjustments to your stand, such as the following, can make a difference:
- Set more realistic goals and revenue targets;
- Have an exhibition program that can evidence results;
- Have a preparedness to change your stand each day to adjust to audience response;
- Consider what you can do to engage visitors and become their ‘must see’ stand.
WHEN THINKING ABOUT YOUR OBJECTIVES…?
To evaluate results from an exhibition effectively, you need clear objectives to begin with. Objectives must be SMART. Which word in this acronym does NOT belong?
(click on a, b, c, d or e)
Objectives could include:
- Selling or launching new products
- Research
- Generating Sales leads
- Raising brand-awareness
- Reinforcing company image
- Networking
- Education
- Building customer loyalty
- Recruiting new agents/distributors
- Obtaining competition intelligence
Gary Fitz-Roy
Current trading conditions present a great time to capture market share and create new opportunities for your business, but the default position by business owners is often to cut expenditure. Let’s face it, that response is most likely a result of the revenue dropping, as if it remained stable you wouldn’t need to cut. So maybe the focus needs to be on revenue rather than costs!
Face-to-face contact is such a valuable tool in developing sales and customer relationships, and it has never been more important as bricks & mortar businesses experience a resurgence, and buyers change the way they use the web.
So working out what your focus should be is challenging, and it seems no one understands quite how much pressure you’re under.
The latest top line results released from The Centre of Exhibition Industry Research has highlighted three key activities that companies are striving to achieve from an exhibition:
- Sales Generation
This is interesting terminology as there is now a shift from focusing only on the immediate sales, to generating a database and developing a relationship. Ask yourself what you are doing to close the sale right there as well as being remembered as the person to call long after the exhibition has finished. Also, if you collect a database, how and where are you entering it, how are you following them up and creating ongoing communications (for example, through newsletters and educational activities)?
- Branding
Be seen, be remembered and be part of the industry network. I normally don’t like branding as a justification but in challenging times the importance of being seen as being part of an industry or marketplace is increasing. If you’re not seen, people draw the conclusion your business is in trouble! Ensure your company name or product logos are strongly and boldly displayed. - Customer Relationships
These days it is absolutely paramount to meet as many of your existing and potential customers face-to-face, en masse – and the benefit of an exhibition is that they come to you. Think about an offer or handout of some kind that rewards them for dropping by.
My final comment is as a result of watching those exhibitors who have been successful this year, they all have the same attitude which is 100% POSITIVE, they ooze energy and people gravitate to them. The mind is a powerful thing, and with the right mindset the results can be extraordinary for you when everyone around you is just average…
See you on the floor.
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