Wednesday, May 11, 2011
How to Cut Cost While Displaying at Trade Fairs
Cutting cost has always remained an integral part of trading and marketing. Even the trade fairs haven’t remained untouched by this phenomenon as cost cutting tactics are employed on regular basis in the modern times. Cost cutting does make sense to a certain extent but in some cases it can become a hindrance to the process of organizing a trade show. The skill of a good organizer lies in his ability to efficiently employ cost cutting tactics.
In the today’s world, trade fairs have gained tremendous popularity amongst enthusiasts and serious buyers. The visitors expect high quality in the infrastructure as well as general facilities. In this situation, certain tactics and practices could come extremely handy to the exhibitors and organizers who bear the burden of minimizing their expenditure while maintaining a certain level of quality.
• Use of custom modular trade show display - One of the most obvious benefit of using custom modular trade show display is the reduction in the shipping and drayage expenses. These custom displays are easier to set up when compared to the regular ones. The overall expenditure is curtailed by 75% of the original cost, if the exhibitors employ these displays at the trade fairs.
• Hiring local students for promotion at stalls - Expert professionals when hired over a short period of time at trade fairs can sometime dig a massive hole in the pocket of the organizers and exhibitors. Instead of the specialized professional, hiring college students in the local region for certain trivial tasks like promotion at stalls is much more beneficial and cost effective. In certain cases, these young students could be more useful due to their higher level of energy and enthusiasm.
• Choosing trade venue closer to airports, shipping docks and railways stations - To cut down on the cost of transporting goods from ports and docks, the trade venue should be chosen closer to such destinations. This practice could make a world of difference in the expenditure.
• Focus on trade buyers - The real motive of a trade fair is to do quality business with quality clients. In some cases, unnecessary focus on general public who visit the fairs without any purpose of buying could be a cause of extra expenditure. Exhibitors need to acknowledge the significance of trade buyers and should devote major share of their finances in wooing the actual buyers. This change in approach could be extremely beneficial to them.
If the exhibitors and organizers start following the above mentioned practices and fine tune their tactics, they will definitely be able to maximize their profits at the trade fairs.