Two groups gaze at the same half-filled bottle of water and come to different conclusions. This has always been the case when pessimists and optimists fight over their opinions. Recently, however, I have to admit that in the current climate of exhibits that the pessimists seem to be winning.
The majority of the indicators suggest a clear adverse outcome for the pessimists: less gross square feet of exhibit space, a drop in attendance of professionals and a decline in the number of exhibitor companies, a decrease in revenues, lower spending by consumers as well as a reduction of travel. the economy has plunged. Two indicators that have grown are cancellations of shows and unemployment. The mood has been so dark on the economic front that even the staunch optimists are struggling to keep an even stance.
Is this new world fuelled by pessimists destroyed any optimism? Yes. Even the most pessimistic of people need to acknowledge that there’s an opportunity for art exhibitions. We just are waiting for an additional year or two to watch the dust settle.
What can we do to make the most of our time? Doing nothing and waiting for the right time won’t aid. Whatever the reason, businesses still need to meet some fundamental requirements: profit production, brand, and equity in shareholders. It is impossible to enhance any of these with a backseat to face-to-face marketing.
As we wait to see how the world of exhibitions will take us, Here are some suggestions for what you could do.
1. Re-evaluate your strategy – Is face-to-face marketing crucial to the overall health of your company?
Face-to-face interaction is likely to be the most one advantage of exhibition marketing. Although social media sites have gained traction, the most critical question to consider is whether there’s the need to interact with your customers and clients in person.
2. What is the importance of measurement?
Take a step back and forget about the perceived difficulties in measuring your accomplishment. If you could quantify, could it help? If yes, then the first step should be to study the methods that allow you to take tangible, quantifiable measurements.
3. What is the level of commitment your company put into its exhibition program?
There are three kinds of resources you require for your business, including money, staff, and equipment. If your exhibits program was perceived like a slender marketing counterpart in the overall marketing plan, It is the perfect time to revisit the mindset of the top management. To ensure that you have a commitment to resource management during these times of uncertainty, ensure that you’ve got ROI Investment (ROI) as well as the Return upon Objectives (ROO) calculation.
4. What lessons have you gleaned from your experiences in exhibiting?
If you’re among the exhibitors who do not do a post-show review, you’re at an extreme disadvantage. A review of your work is more than the number of leads you have collected as well as the number of visitors who visited your stand. What you need to do is think of every aspect that can be useful to identify the things that are effective and what’s not working in your plan. By analyzing this data, you’ll be in an excellent position to make suitable recommendations for the coming years. A few things to take into consideration are the quality of leads you collect, booth visitors, the patterns of the traffic of the event as well as your sales cycle rates of success, the use of sales tools, such as lead retrieval systems, and the amount of time you spend with visitors of high value. The more leads you gather, the more you can improve your strategy.
5. What do you expect to change in the near term? after the money is loosened?
The recession isn’t going to be a permanent one, and the optimistic will again control the situation. If you’re blessed with the luxury of breathing room, it’s time to look over the budget of your exhibit line by line to be sure that you get the most bang for your money. With a keen eye and an open mind, you’ll be amazed by what you discover.
If you’re a pessimist, your job is easy. Instead of throwing cold water over your display program, you should revamp it. Today, the pessimists are winners, but tomorrow the optimistic are ready to put on an impressive performance.