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18 June 2009
Exhibitions are Key in Times of Economic Downturn – Industry Comment from ITTFA
“Face to face communication is the most successful form of selling – in
today’s digital world, the exhibition is one of the rare occasions
where this is possible,” states Maria Badakh, Event and Sales Director,
ITE Exhibitions Travel Division, a comment that sums up the importance
of exhibitions in these times of economic downturn. Members of ITTFA,
International Tourism Trade Fairs Association, of which ITE is one, are
collectively focusing on the positive aspects of the current global
crisis and advocating the advantages of maintaining market visibility.
For many companies facing difficulties, the first area to be
trimmed is marketing, advertising and promotional events such as
exhibitions, but how do potential customers learn about products and
services if there is nothing visible in the market? Maintaining a
presence in advertising and trade shows is critical to a company's
growth and success.
“Exhibitions and events are one of the most effective ways to meet and
do business,” adds Johan F Lundberg, Business Manager TUR Gothenburg.
“Focusing on and developing personal interaction is the way to secure
business in such tough times.” One of the main reasons for exhibitors
to take part in a trade show is that it is the most efficient way to
make multiple customer contacts in a short period of time. There is no
substitute for face to face contact nor a better way of viewing the
competition on offer and gleaning new ideas.
Exhibitions provide a great stimulus for new ideas as well as
regenerating and refreshing old ones, which is a useful cost effective
technique when budgets are tight.
Exhibitions also provide an overall sales experience that is not on
offer during a normal sales call. Interactive experiences using
multi-sensory mechanisms, appealing to customers on all levels, as well
as unlimited print material, are on offer, with plenty of space to work
in and often several highly trained staff on hand to swiftly answer
questions.
Research by the Centre for Exhibition Research in Dallas, USA,
shows that two thirds (63%) of attendees at exhibitions make purchase
decisions while 31% actually purchased products or engaged in services
while at a show.
Companies can also utilise an economic downturn to their advantage.
While their competition is cutting marketing expenses, more astute
operators can utilize their sales teams, advertising and trade show
dollars to gain market share by increasing visibility and emphasizing
their stability with current and potential clients.
Bart Strijker Project Manager of ITTFA Member show Vakantiebeurs
emphasizes that “in times like these, it is important to be a market
leader and that personal contact is the key in securing deals. We
invest a lot in our databases, aiming to generate leads all year round
for our clients.”
The CEIR, in its January 2009 report The Effect of Economic
Recessions on Exhibitions, goes on to say that even though attendance
and exhibit space may decrease in recessionary periods, key buyers
continue to attend each year and the percentage of attendees that
actually have plans to purchase remains high. Companies may send only a
couple of people but these will be the decision makers. An even more
favourable marketing opportunity is created as show attendees, on both
the exhibitor and visitor side, will be more focused, holding key
positions within their industry sector.
Fortunes follow the brave, as they say; companies courageous enough to
stay in the fight and stand out when others are in retreat can maintain
an edge and forge a change in their market position. The message
therefore is not to cancel your exhibition plans but instead to gain
maximum value from the cost involved and take the opportunity to
maximum exposure.
ITTFA’s full Calendar of Events for 2009/10 can be found on their
website, www.ittfa.orghttp://www.ittfa.org" title="Click to open in a new window or tab" target="_blank">. All member exhibitions are dedicated to
creating a unique marketplace for that sector’s products and services,
giving exhibitors unparalleled opportunities to meet key buyers and
suppliers in a focused and professional environment.
For further information please contact:
Sara Armitage Evans, ITTFA Secretariat, info@ittfa.org
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