Top 5 Indicators It's Time for an Event Strategy Review
June 21, 2023
We get it — corporate event marketers like you have hundreds of details to manage daily. So taking the time to evaluate your trade show partners and suppliers seems like adding another task to the never-ending to-do list.
As we settle into the mid-way point of 2023, Steelhead is excited to share resources to help event planners through the evaluation process, beginning with the key indicators below.
HOW DO YOU KNOW IT'S TIME FOR A STRATEGY REVIEW?
1. YOUR TRADE SHOW SUPPLIER IS NOT WHAT THEY USED TO BE
Supplier selection is a huge opportunity to extend the capabilities of your internal event marketing team. It is safe to assume that your supplier network and their capabilities to support you and your program have changed. Now is a great time to check the status and stability of your exhibit partner. Don’t forget the success of any event is only as good as the team of suppliers you've assembled!
Trade shows and events in 2023 are seeing record breaking attendance numbers that are exceeding pre-pandemic 2019 numbers. How are your partners helping you capitalize on this?
Exhibitors are adjusting to the new norms of business, but it doesn’t always get reflected in their trade show presence. The modern trade show attendee often prefers a guided yet solo journey down the sales funnel before they want to engage with your people. Your event presence needs to support this.
3. YOUR BUDGET HAS CHANGED
It’s highly unlikely that your marketing budget will remain the same from one year to the next. Add in inflation, supply chain disruptions, and labor shortages, event marketing planners are expected to do more with much, much less.
Timely communication with your trade show providers and adherence to production schedules has never been more important for the bottom line.
*Expert Tip* Work with partners that offer price guarantees so there are no ugly surprises after your event concludes.
4. MARKETING TRENDS HAVE CHANGED
Marketing trends are ever-evolving! (AI am I right?) What was trending 6 months ago, might not cut it anymore. Are your partners in-tune with the latest event happenings? How about trends within your industry and competitors?
5. YOUR EVENT STRATEGY IS OVER 2 YEARS OLD
The first sign that it’s time to update your strategy is if you created it over 2 years ago. Our personal opinion is that 2 years is 1 year too long. Technology rapidly changes human behavior, and for a marketing strategy to work well, you have to understand how humans behave.
If you’re not using the latest marketing techniques or most progressive event partnerships, your marketing result will surely suffer. Outside of providing the above recommendations, we’ve created an assessment tool to help you evaluate the team of suppliers you lean on to ensure your success.
Supplier Assessment - Take this simple, 6-question assessment to help you evaluate your current supplier partnerships and their contributions to your overall event program.
As always, if you have any questions, please don't hesitate to reach out.
June 21, 2023
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We understand how frustrating it can be to create and manage a trade show booth, and how much pressure there is to make it truly impactful. Let us worry about the details so you can start forming new relationships and growing your business.