Trade Show Tips: Dealing with Budget Cuts

Thursday, October 1, 2009 by Kevin Ehlers
Due to the slumping economy, many companies are cutting their trade show and marketing budgets.  While some cost cutting strategies can negatively impact your effectiveness, there are ways to cut costs that will not jeopardize your trade show ROI.  Below are a few tips on how to cut costs without reducing your overall performance.
  1. Focus your Resources - Instead of doing the same amount of shows halfhearted, cut or downsize shows that don't produce the best results.  If you had a 20 x 20 booth at a show last year that produced minimal trade show sales, you should think about getting a smaller booth or dropping the show from your schedule.  
  1. Renegotiate contracts - You are working with your current vendors for a reason.  You don't want to start cutting ties with your vendors when they perform a key service for you (if you use lead retrieval software, for example).  Instead, see if you can get better pricing.  Times are tough for everyone, and if your vendor really values your business they will do whatever they can within reason to keep you around.
  1. Do your Homework - If your vendors will not or can not budge, shop around.  Their competitors may have changed policies or come out with new products since you last evaluated them.  You may find a better, more cost effective option.  If not, you at least have some leverage when negotiating with your existing vendors.
It is more important than ever to produce results at your trade shows.  Sales are getting tougher and tougher so it is imperative to spend your marketing dollars wisely.  So instead of cutting services and doing shows improperly, focus on the right shows and do them well.  Exhibiting at 1 trade show properly is better than exhibiting at 5 shows poorly.

For additional trade show tips, click HERE.

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