Cutting Down Your Trade Show BudgetWritten by Susan Friedmann
Whenever a recession or volatility threatens economy, companies immediately look at where they can cut budgets. Without much forethought, first to hit block is inevitably training, followed closely behind by marketing. Why? Both are viewed on balance sheet as expenditures rather than income generators, so obviously they’re hot contenders for elimination. This is a very myopic way of thinking, especially for companies who want to remain globally competitive. Instead, at times like these when resources are under severe scrutiny, look at this as a golden opportunity to analyze your strategies. Put your activities under a microscope and closely examine what you’re doing and why you’re doing it. Often during times of plenty, finance reins loosen up and some highly creative juggling takes place when budgets exceed their estimations. Obviously, we enjoy abundant mentality and wish that it could last forever. But just as with all things in universe there has to be a balance, and shortages add stability to plenty. Whenever highs exist, lows are inevitable. So, instead of reacting to highs and lows of marketplace, what can you do to maintain a steady balance? Marketing and training are definitely keys to your success, so let’s examine five benefits and how they relate to your tradeshow participation. 1. Analyze your weakest linksWhen you take time to look examine your operation in more detail, you often discover that many of your actions are done out of habit rather than being productive and profitable. Think about some of shows that you attend. How do they really fit into your marketing strategy? Are you attending them just because you’ve always done so, or because your competition is there? These are often your weak links, shows that utilize unnecessary time and energy. Think about doing away with “nice to be at shows” and rather opt at putting all your energy into more profitable events that attract larger quantities of your target market. Another weak budgetary link is associated with excessive employee spending at shows, such as dining at finest restaurants and ordering highest priced items just because boss is paying. Consider setting up a per diem allowance and make employees accountable for expenses. You might even reward them with difference if they under spend their stipend. 2. Exhibit a global competitiveness mindset To be a contender in global marketplace and establish a vanguard positioning, you have to be out there come rain or shine. And, tradeshows signify an essential marketing strategy when it comes to visibility. Exhibiting demonstrates that you’re a serious player in industry. However tough, it’s important to keep tradeshows as one of your major promotional strategies. Rather consider reducing space than totally pulling out a show, provided of course, that it’s right show for you. Unfortunately, if you stop exhibiting completely, “buzz” on show floor says publicly that you must be in financial trouble. This may be completely false, but it’s people’s perceptions that count. They’re reality they believe. As old adage states, “out of sight, out of mind.” And, since memorability is a key factor associated with exhibiting, if you’re not seen, how can you possibly be remembered! 3. Focus on long-term results
| | Ten Secrets of Super Successful Meeting Planners Written by Susan Friedmann
Whoever said that being a meeting planner was easy, lied! Rather, it should be classified under tough and demanding job category. But, along with being tough, it’s also fun, exciting, exhilarating, stimulating, and never, never boring. You have opportunity to go to exotic places, stay in luxurious hotels, and experience life from a totally different angle. Who could ask for anything more? For those of you ready to shoot me at this point, know that I fully understand your pain! The purpose of this article is to look at ten skills that help make a super successful meeting planner, and how you can take this expertise and use it to enhance great job you’re already doing. 1. Planning and organizingThe most common reason shows go wrong lies in simple fact that not enough time is devoted to adequate planning and preparation. And, many of those shows that are believed to have been successful, are often more by chance than through actual organization. Super successful meeting planners have both a strategic and tactical plan of action. They then use following five basic questions as their foundation before making any arrangements: · Where does this meeting fit into our corporate marketing strategy? · Why are we meeting? · What is purpose of meeting? · Who should attend meeting? · What is our budget? 2. Taking care of details So much of putting a meeting together means taking care of details, and there are usually more of these than you care to think about. Being detail-oriented is a definite plus. The key to so much of a meeting planner’s success is having a system that works. Creating checklists is one of best I know. With hundreds of pieces that make up meeting puzzle, only way to put them together and keep tabs on all details, is with a checklist. Become a checklist fanatic and consider having a checklist for each checklist. I’m getting dizzy just thinking about it. 3. Practicing savvy marketing A significant part of a successful meeting planner’s role involves developing a pre-, at- and post-event plan. Most meeting planners fail to have a plan that encompasses all three areas. Budget is naturally going to play a major role in deciding what and how much promotional activity is possible. Super successful meeting planners know importance of developing a meaningful theme or message that ties into their strategic marketing plan, and that will guide their promotional decisions. They know and understand their target audience and plan different promotional programs aimed at different groups they are interested in attracting. 4. Being a team player Super successful meeting planners know exactly how to work together as a team, helping each other out whenever and wherever necessary. They help everyone get acquainted, develop a level of trust, and familiarize and understand each other's strengths. They know what it takes to create an environment of camaraderie where staff, as a whole pulls out all stops to succeed and set themselves apart from competition. 5. Knowing how to manage time Super successful meeting planners have mastered art of managing their time. They are well organized and have essential information at their fingertips, which means that their work environment is orderly and efficient. They know their priorities, don’t over commit themselves, and can differentiate between important and urgent tasks. They are superb delegators and are not afraid to ask for help whenever they need it. And, finally, they don’t procrastinate; on contrary, they practice “do it now” habit. 6. Negotiating skillfully
|