The economy has been grim over the last couple of years but the indicators are starting to turn positive after so much doom and gloom in the markets. Trade show managers have reported their pricing and statistics for 2009 and the bulk of the numbers do not contain any surprises – they are down across the board except for one startling line item – space rental rates.

Virtually all line items in trade show costings have decreased, typically between 10% and 15%, but space rental has shown a marginal increase over 2009. This is explained by the forward pricing of floor space as exhibitors tend to negotiate contracts and commit to the pricing up to a year in advance. Nevertheless, cost is still a big issue despite the overall drop in pricing in every other caption.

The need to maximize ROI and value across the board is relentless and necessary.

To maximize ROI under the current conditions, review the trade shows where you have been attending in the past on a regular basis. Use past show data and demographics to see where you generated the sales and drill down so you are identifying revenues with individual shows. Apply a threshold rate of return to establish which shows are worth your attention and which should be cut. There is always an opportunity cost associated with exhibiting at a trade show, and in certain conditions it may no longer be appropriate for you to carry the cost of some trade shows which are not delivering the goods.

Next, review your display – it is easy for the freshness to fade and not be noticed by you or your team, usually because you are so familiar with it and don’t notice the deterioration. It is better to scale down to a smaller display which is vibrant and fresh than carry a larger display which is dull and lifeless – it is quality which counts and not quantity. This will also allow you to minimize the operating costs associated with trade show exhibiting by taking smaller space and incurring a reduced maintenance and operating cost associated with the logistics of getting the display from one location to another.

Before you make a decision to buy a new display, consider what can be done in terms of reinvigorating your existing equipment. Perhaps what you need is to enhance the display with accessories and optional extras rather than invest in a new display. The best way of tackling this is to discuss the situation with your preferred trade show supplier because they will be able to outline your options and the costs far better than anyone else, and in addition they will be dealing with this situation with many of their other clients so this is a great opportunity to tap into their knowledge and experience so you do not need to reinvent the wheel. Remember you don’t need to be original, just effective!

You can also save cost by managing your promotional gift strategy. Simply giving free stuff away is not effective and very wasteful – it is better to manage your gift giving so you are only distributing promotional items to those prospects that have done something for you. This may mean an attendee must give contact information, participate in a survey, sit down and discuss business or you may be using a promotional gift only when you meet someone who you wish to have a positive and lasting memory of you in their heads when they leave the show and are back in the office next week.

Author Bio: Rena Patton is the president of ExhibitWholesale, a leading provider of trade show displays and accessories such as pop-up displays and banner stands. ExhibitWholesale can be found online at: ExhibitWholesale.com .

Category: Marketing
Keywords: trade show hints, trade shows, trade show, about trade shows, trade show sales, trade show revenue