Cutting Down Your Trade Show BudgetBy: Susan Friedmann
Whenever a recession or volatility threatens the economy, companies immediately look at where they can cut budgets. Without much forethought, the first to hit the block is inevitably training, followed closely behind by marketing. Why? Both are viewed on the 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, the finance reins loosen up and some highly creative juggling takes place when budgets exceed their estimations. Obviously, we enjoy the abundant mentality and wish that it could last forever. But just as with all things in the universe there has to be a balance, and shortages add stability to plenty. Whenever highs exist, lows are inevitable.
So, instead of reacting to the highs and lows of the 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.
Exhibiting is a powerful extension of your company’s marketing strategy and your people are the backbone of your company. Eliminating your marketing and training budgets during times of recession is tantamount to profitability suicide. So consider looking at other places to make those cuts!
© copyright 2004, Susan A. Friedmann
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