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In today's uncertain meetings environment, carrying full-time tradeshow sales/management staff can be an expensive fixed cost. Due to staff reductions and diminished budgets, in-house staff with little to no experience in planning events are being asked to take on significant virtual event planning tasks and exhibit/sponsorship sales. While this step is designed as a cost-saving measure, in reality, it often results in higher costs and lost focus on the event and its goals.
When in-person association conventions begin, will you be ready? By working with a tradeshow services firm, you'll benefit from increased revenue, innovative ideas, virtual/hybrid experience, streamlined processes, improved vendor relations, and possible cost reductions.
Virtual/Hybrid Experience: In-house staff might only plan one annual virtual/hybrid. An experienced tradeshow management firm will have significant experience in selling and planning virtual events of varied scope and size. They will know how to create a virtual/hybrid prospectus based upon the options available on your chosen platform. Creating floorplans for your hybrid meeting that maximize booth space while accounting for current standards on social distancing is critical to your financial success.
Technology Expertise: Tradeshow sales and management success is now heavily dependent upon technology. Long gone are the days of paper contracts. Is your staff up to date on event/floorplan technology? They need to be!
Sales staff need strong Customer Relationship Management (CRM) technology; association management software (AMS) rarely provides enough details for expo sales. Using a customized CRM is essential for your sales pipeline.
Furthermore, virtual platforms require significant experience specific to that platform. Does your staff understand every facet of the platform? Can they create a prospectus based on what the platform offers and what exhibitors/sponsors want?
Fresh Sponsorship Ideas: Another benefit of partnering with a tradeshow services firm is the strategic insight and innovative ideas brought to the table. Experienced tradeshow management firms work on a variety of events. They have successfully created experiences in which sponsors invest. They know how to measure ROI and sell it to potential sponsors.
Budget Oversight: In today's ever-changing environment, you need an experienced partner who can create multiple financial scenarios for your event. You need a budget aligned with different financial scenarios so you can quickly pivot based upon changing conditions. An experienced tradeshow partner knows how to create budgets and formulate these scenarios.
Best practices: An association's mission statement includes providing education or certification for their industry best practices. Don't you want your tradeshow staff to know the industry standards for cancellation clauses, exhibitor insurance requirements, venue advertising licensing fees, priority points guidelines, etc.? You should have Certified Exhibit Managers (CEMs) working on your tradeshow operations.
Leverage Relationships: Tradeshow management firms have the added benefit of knowing the proper resources. They can leverage existing relationships with vendors earned through coordinating programs with a variety of clients. The result is the ability to negotiate better rates and discounts. In addition, because they do this on a daily basis, they know what types of concessions to look for in contracts.
Teamwork: The use of a third party can help reduce workload, drive strategy and focus, as well as ensure the smallest of details are executed successfully. Because third-party partners work with many clients and their staff, they also understand teamwork. There are no departmental governance issues – tradeshow management firms work for you! You send the scope of work and deadlines – they get the job done!
NOW is the time to outsource tradeshow sales & management! Sponsorship Boost can be your next tradeshow partner. Your next in-person meeting has to be successful – both in attendance and revenue. Don't miss the opportunity to find a collaborative partner that can create innovative sponsorship ideas, manage multiple software programs, understands virtual expo models, leverages relationships, and acts upon best practices.
To learn how Sponsorship Boost can be a valuable support for your virtual meeting or an extension of your entire tradeshow team, contact us at info@sponsorshipboost.com