Strategy: The Great Equalizer in Managing Rising Trade Show Costs. Greg Lindsey Exhibitpro

Transcription

1 Strategy: The Great Equalizer in Managing Rising Trade Show Costs Greg Lindsey Exhibitpro

2 Greg Lindsey Vice President, Exhibitpro Greg Lindsey is the Vice President of New Albany, Ohio, based Exhibitpro. Greg has spent his entire 26 year career in face-to-face marketing; the last 11 specializing in marketing engagements through exhibits, events and corporate environments. Currently partnering with multiple Fortune 100 clients, Greg works directly with marketing managers and event and trade show teams to identify event strategy and maximize on-site engagement. Greg has published numerous articles specific to face-to-face marketing; most recently addressing the rising cost of trade show and event expenses.

3 Strategy: The Great Equalizer in Managing Rising Trade Show Costs

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6 Impact on the Tradeshow and Event Industry

7 Fast Forward to Present Day Cost overcorrection: show decorators unions venues cities hotels airlines How can we offset these costs? This is what we will review today.

8 How the Exhibit Dollar is Spent Material handling is up 257%. 11 for each dollar goes to the actual exhibit presence. Show service costs in 2016 actually exceeded exhibit presence costs. 39% Exhibit Space 12% Material Handling 18% Travel Expenses 2% misc. 9% Shipping 9% Marketing & Promotion 11% Exhibit Presence

9 Strategy Why do you attend the shows that you do?

10 DATA IS KING

11 You Need a Plan Formulate a data driven strategy that dictates which shows you will attend. Attend Exhibit Booth Space Sponsorship Meeting Space

12 Choices Quality Product Exceptional Service Happy Hour Great Food Flexible Seating Variety Nice Atmosphere Competitive Prices

13 What if There Was Only One Choice?

14 Material Handling Defined as short distance movement within the confines of a building with a transportative vehicle. It is unavoidable, and often blindsides exhibitors. There often a minimum charge, even for small shipments.

15 Material Handling Keep the exhibit weight down without impacting the experience: Fabric graphics Lesser weight structure for accent materials Use lighting to create impact Replace wood & laminate walls with fabric walls Be careful when purchasing carpet or furniture outside of show- the material handling may offset the cheaper purchase Be aware of material handling overtime Be mindful of discount dates Combine or reduce supplemental shipments Don t ever ship water

16 Material Handling Case Study /cwt $17,711 (6200 lb) overtime /cwt $7,370 (8000 lb) standard managed /cwt $46,621 (16,000 lb) overtime

17 Internet Ah-ha moment. A real-time stock market ticker display required high speed internet. The internet cost- $10,000.

18 Internet Always call the venue s technology services department and challenge for the most cost effective way to acheive your internet objectives. This is also a great insurance policy to ensure your order is correct. The free wi-fi offered on the show floor (sometimes via a sponsorship) is unfortunately not reliable enough for demos. Hot spots: prior to 2015 many exhibit venues would jam hot spot signals. The FCC levied some landmark fines to event venues and hotels, so don t assume you cannot a hot spot. TRADE SHOW TIP

19 Cleaning: Vacuuming Most exhibitors assume they must pay for vacuuming in the booth space. However at most shows you are permitted to clean it yourself. Just pack a vacuum (and make sure you have a place to store it).

20 Trade Show Survival Kit Avoid purchasing items on-site by packing them with your booth: vacuum with extra bags extension cord glass cleaner paper towels velcro box cutter scissors duct tape carpet tape clear packing tape small tool kit extra bulbs sharpie marker mints HDMI cable (if applicable) This will save money and time, especially if items are sold out.

21 Electric Many exhibitors assume electric is a fixed cost, but through proper planning you can make your electrical needs requirement more efficient: Exhibit design: reduce the number of electric drops by carrying power from one structure to another If the venue allows it, pack your own supplies (extension cords, six ways) to avoid the high rental cost Do NOT over order

22 Electric Avoid the just in case ordering scenario. We ordered 20amps at each drop location just in case. 20amp - $ amp - $ amp - $ TRADE SHOW TIP

23 Flooring Alternative flooring companies may appear to provide a cost savings, but be aware of hidden costs: You will pay the material handling costs to get it to the show. Coordinating the flooring installation with the show decorator for electric and internet. If your flooring is damaged on-site, the decorator may be reluctant to repair it or replace it.

24 Shipping Always use air-ride trailers to protect your exhibit. Never use the show carrier.

25 Furniture The great furniture debate: do I buy or do I rent? RENTAL + no material handling or shipping costs - well travelled - limited choices PURCHASE + no per event rental fee + tailored to your exhibit - added material handling and shipping costs TRADE SHOW TIP

26 AV It is rarely the best option to rent AV from the show provider. When renting an exhibit partner or third party may have a rental inventory- likely newer and in much better condition than show rental AV assets. When purchasing AV, you will have to pay material handling and shipping... but these items are smaller than furniture. Purchasing is generally a cost savings. TRADE SHOW TIP

27 Labor It is your responsibility to understand the labor rules in each city AND at each venue. You do NOT need to use the show decorator for labor at all shows and events. You DO have options. Skill and experience is important. A highly skilled team will partner, protect, and promote your exhibit. TRADE SHOW TIP

28 Post Show Audit

29 Audit results of 50 client shows in 2014: 37/50 81% had billing errors of errors were NOT in your favor

30 Reconcile Your Show Service Invoices Examples of errors found when auditing invoices: Material handling: unjustified overtime charges, weight ticket dispute (CWT higher than expected) Internet: charges that were not included on the order form Electric: excessive labor time for simple work Mistakes corrected by the show decorator on-site, but not billed correctly on the final invoice.

31 Be a Good Negotiator

32 Sponsorship Alternatives There are alternate ways to reach attendees at a fraction of the cost of show sponsorship: Targeted pre-show marketing Print table tents to leave at nearby bars and restaurants Hold a fitness session in your booth in the morning or after lunch (market pre-show) Host a match making event in your booth Utilize hashtags to promote your social media campaign pre-show, at-show, and post-show. Work directly with a taxi service to promote your booth inside their cab Hotel partnerships direct TRADE SHOW TIP

33 The Value of Trade Shows? Trade shows are the final frontier in face-to-face marketing.

34 Who Attends Trade Shows? $ 78% travel more than 400 miles to attend 99% of marketers find a unique value not gained elsewhere 46% are executive or upper management 81% have buying authority 60% value seeing prospects and customers at the same time 51% value face-to-face opportunities 47% value meeting other colleagues, suppliers, and re-sellers

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36 Questions?