Readers Speak: Lessons From the Last Time

Staff -- Tradeshow Week, 4/11/2005

Some hard lessons were learned during the most recent economic downturn that impacted the exhibition industry so severely. Much — but certainly, not all — of the damage was the result of the events of Sept. 11, 2001. Suddenly it was difficult, in some cases impossible, to get buyers and sellers together on a tradeshow floor. Show managers were put to the test.

Most are operating in a different environment today, one that is again full of promise. They carry with them, however, some cautionary tales. So Tradeshow Week asked some of its readers: What lessons did you learn from the now-receding economic downturn?

"Be better prepared with reserves and don't run on slim profit margins. Don't panic. Tighten operations and expenses wherever possible. Wait for the comeback. America is a resilient country; we should have more confidence in the resolve of our fellow countrymen after 9/11.

"We actually saw growth in our association after the initial downturn, as our members became a source to a nation looking for answers. Recent Arbitron data shows religious formatted radio stations' growth at 14 percent, the second largest growth format in the country, right behind the news/talk format."

David Keith, Vice president of operations, Natl. Religious Broadcasters

"It's my belief that people, more than ever, have felt the need to connect personally. We are all facing more challenges than ever. Our show team has made a commitment and priority to be in constant, close contact with our exhibitors and our retail attendees: real face-to-face meetings and personal telephone calls. We want them to know we are truly there to facilitate their mutual success, and we're in it for the long haul."

Susan Corwin, Vice president, George Little Management

"We have learned that you must work twice as hard to keep attendees coming to your events, and that by closely listening to exhibitors they will remain loyal, even when budgets are cut. Last but not least, opportunities can still be plentiful, even during a downturn."

Sean Guerre, President and CEO, The TradeFair Group

"The biggest changes we have seen are that, first, secondary shows serving a market are at great risk. Second, customers are buying less space, and committing later in the cycle. And third, targeted niche shows — smaller, shorter and less expensive — can deliver value to exhibitors and attendees. In short, if your event doesn't serve a community of need, it is at risk."

Jamie S. Swanson, Vice president, Infinity Expo Group

"We learned tradeshows were changing, and we couldn't expect a quick return to the days prior to 9/11. Therefore, we had to find ways to revitalize comfortable old shoes. Greater use of technology saved us money, helped us get more for our money, and in turn allowed us to provide more value to our exhibitors and attendees.

"We improved efficiencies in exhibitor and attendee marketing, exhibit space sales, prospecting, reporting, accounting, registration, operations and communications, which led to expanding other services that helped improve the overall value of the trade-show experience."

Carol Fojtik, Senior vice president, Hall-Erickson

"More than ever, show organizers have to make sure they deliver real value to attendees, exhibitors and sponsors. The TEAMS Conference & Expo experienced tremendous growth post-9/11 — even though it relies on travel industry support — because of our obsession with delivering value to our customers."

Lisa Furfine, Associate publisher, Schneider Publishing

"Three significant differences are occurring since the economic downturn: One, tradeshows are becoming more regional in focus. Travel budgets are being reduced, and more effort must be focused on regional exhibitors and attendees to keep numbers up. Two, connectivity is becoming more important, and creative solutions must be implemented to increase face time between exhibitors and attendees. And three, participation at tradeshows is still an important component of corporate marketing spend, but companies are looking at amount of space purchased as a means of reducing costs.

"To counterbalance this trend, more exhibitors are needed to fill the show, or additional revenue sources must be added to contribute to the financial success of the show."

Cathy Arevian, CEO and vice president, operations, The Bridge Group

"We cannot take audience acquisition for granted. They will not come unless you prove there is value. This proof is becoming more and more realized through metrics."

Jim Duda, Senior vice president, exhibitions, PGI

"Never assume anything. Good trends don't invariably continue in a linear, predictable and safe motion towards the future. Have the will and strength to reinvent by questioning all that is dear, comfortable and predictable in daily business practices. Most importantly, listen to your customers, exhibitors, attendees, press and analysts constantly and sincerely with a willingness, almost an eagerness, to embrace change."

Joachim Schafer, President, Hannover Fairs USA

"Never, ever take anything for granted, nor sit on your laurels. And increase your sales and marketing budget post-9/11."

Meg Ellacott, Managing director, Major American Trade Show Organizers

"We found that to retain even our most loyal attendees and exhibitors, we had to continuously raise the bar on customer service and tailor programs to help drive ROI for our exhibitors. Customization is going to be the key to all future successful shows."

Pat Dwyer, Senior manager, convention and tradeshow services, SmithBucklin

"The business environment changed during the downturn. We learned to work smarter. We learned that maybe the old way was not necessarily the best way to do business in this new environment. We closely evaluated everything we did to assure our services were providing value and a return on investment to our clients."

Jane Dahlroth, Vice president, tradeshow operations, JRDaggett & Associates

"The business climate changed so dramatically that I think most companies, ours included, took a very hard look at virtually everything we were doing to make sure that it was creating significant value for our customers.

"We actually became quite aggressive in launching new shows after 9/11 because we were able to identify real market needs. We launched FAME in March of 2001 and Moda Manhattan in January of 2002. It was a difficult time to start new shows in New York City, but thankfully, because they all truly serve their industries, all of our shows have continued to grow both in attendance and exhibitor participation throughout this time. In fact, we now run nine fashion-industry shows at the Javits Center each year."

Britton Jones, President and CEO, Business Journals

"Listen to your customers and what their needs are. Don't be afraid to serve them. Be flexible about your product offerings based on their needs. Don't underestimate the value perception. Manage your customers' expectations. Keep your company or organization nimble in order to change with the times."

Mary Kay Sustek, COO, VNU Expositions

"Stay focused on achieving your vision, and continue to be opportunistic. Develop relationships with buyers in your industries that are as strong as the relationships that you have with your exhibiting customers."

Nancy Hasselback, President and CEO, Diversified Business Communications

"Over the past few years, I have had the opportunity to work as a consultant for a variety of organizers, focusing on driving revenues. I have found that a few key elements have driven people to be successful even in the most challenging times. Most importantly, I have noticed a sincere passion for their industry, their customers, and an inherent need to service their community."

Nancy L. Largay, President, Largay Media