10 trade show traps
COMMENTARY After more than 20 years and hundreds of experiences around the world as both an exhibitor and attendee, I am not a big fan of trade shows. Many -- if not most -- companies either spend way too much for little or no identifiable return, or would be better off skipping them altogether and using their time and money elsewhere. More often than not, the people most likely to make money at trade shows are the trade show organizers.
Companies often exhibit just because they think they have to, because they worry about not being there when their competitors are (I hear that one a lot), or because they think they'll get discovered in some way and hit the big time. Those aren't always good reasons.
Don't get me wrong -- shows aren't all bad. They can be good venues for new businesses or major product launches. They might be warranted where there is a high probability of significant on-site business, "the big deal," connection or investment, or for companies that need (and can afford) to build big-time competitive brand awareness.
We have certainly had very good things happen at shows, but it's the exception and not the rule. Even where a show makes sense, most companies waste huge amounts of money for no incremental gain. Here are the ten biggest pitfalls:
1. Going too big: Companies equate the size of their exhibits with perceived importance. And while this may be true, it doesn't mean it matters. Don't succumb to "booth envy" -- most small companies should get only enough space to suit what they have to show and their staffing. Money spent to make that booth look as elegant and professional as possible is generally better than money spent for more real estate and all of the additional expenses that come with it.
2. Extras: Anyone who's ever organized a show knows there is a form for everything -- extra carpet padding, internet, security guards, badge scanners, even plants. The average three-day show costs many thousands of dollars for even the smallest exhibit. Think carefully about what you really need and whether you are buying/renting things that add any value. Is it better to spend $200 on decorative plants, or take a good customer to dinner, or not spend it at all?
3. Advertising: Buying ads in on-site show magazines ("dailies," in trade show parlance) is usually a waste. Even at enormous shows (which can comprise thousands of booths in multiple buildings), most attendees will see every booth -- that's why they're there. Exhibitors think that by supplementing their exhibit with an ad/offer in the dailies, more people will stop at their booth. But an ad is unlikely to drive enough additional qualified traffic to justify the cost. Make your booth noticeable and save the money. Better yet, get a press release in the show magazine(s) -- it is much more likely to get visitors, and it's free.
4. Travel expenses: Airfare, hotels, taxis, meals and entertainment and lost office productivity are enormous but controllable costs. Make sure you have the right number of the right people and guidelines in place for travel expenses.
5. Eleventh-hour scrambles: I've never been to a show where something wasn't shipped overnight at the last minute, or where extra show labor or services had to be hired for some unanticipated reason. As with most things, planning ahead reduces waste.
6. Tsotchkes: Skip the pens, stress balls and blinky light pins. Everyone loves collecting them, but they wind up left in hotel rooms, or in the garbage, or given to the kids. No one does business with you because of them.
7. No advance work: Consumer shows and trade-only shows are completely different animals, and every situation is different, but whenever possible, start your show promotion activities weeks or months before. Send invitations, make appointments in advance, put out press releases. Don't just show up, pop up your display and hope for the best.
8. Paying to see people you'll see anyway: You should always question a show that will mainly put you in front of people you see in the normal course of business. If you have reps on the road all year seeing all the dealers you'll see at the show, might that money be better spent? Usually that's the case.
9. No on-site call to action: We've all walked by the lonely booth with the guy sitting there with his arms crossed, almost (or actually) asleep. He would have been better off buying a $10,000 hotel room and sleeping there (more comfortable, less noise). Have something to draw people in, and ideally get them to act (place an order, sign up, schedule a follow-up meeting) on the spot.
10. Bad math: Many exhibitors comfort (or kid) themselves by thinking it will "pay for itself," but don't properly calculate what that really means. Few shows truly pay for themselves. That doesn't always mean they aren't worth doing, but it's healthier to treat them as expenses and not investments with expected, measurable returns.
Before deciding to exhibit, make sure you think through all the reasons, the real costs (including opportunity costs) and what would/could happen if you didn't do the show. If you are still convinced that a show is necessary, go for it -- but look for every possible way to avoid waste. Trade show pennies add up faster than you can say "eight dollar convention center hamburger."