Negotiating Event Season: Maximizing Trade Show and Convention ROI

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For many, the word “Convention” or the phrase “Trade show” brings back fond memories of early morning flights, long check lines, late night stories at the bar, and the allure of making that career-changing connection or landing the life-changing deal.  Many employees look forward to corporate events as much as they anticipate bonus season, but it is likely that most employees may not be aware of the small fortunes companies invest and the countless hours it takes for highly skilled marketing professionals to orchestrate these events.  This article will focus on only three specific considerations that can be kept front of mind to possibly improve return on investment “ROI” from corporate events as an exhibitor.

There are many aspects of negotiating a corporate event, but if one can effectively negotiate floor placement, speaking engagements, and the overall price of exhibition or attendance, the likelihood of maximizing the company’s ROI from a corporate event may increase substantially.

While all events are not created equally, there are some commonalities.  Firstly, an event organizer secures a venue for a particular date.  The organizer then plans the floor, the agenda, and the price they will charge for exhibitors and attendees.  Then the organizer will engage their representatives to solicit exhibitors and attendees to be at the event.  Just like any other business venture, these events have a break-even point that organizers must realize and therein lies the opportunity to negotiate floor placement, speaking engagements, and the price of exhibition and attendance.  

Floor Placement

How many times have we walked through corporate events in fun locations like Las Vegas or Orlando, Florida, and noticed the sea of people walking toward the center of the event space where the high-value real estate is located?  Events are all different, but it is not uncommon for high-value real estate to almost always be in the center of the entrance or the center of the building.  However, that does not mean that if the company cannot afford the center of the room,they are doomed to suffer a negative ROI event, but there are some spots that are better than others.  Anyone negotiating these events should always endeavor to finalize a good floor placement, because when the CEO walks in and determines that the company would have been better off exhibiting out back by the trash cans, it might be time to dustoff the resume.  However, if the company’s goal is to simply attend the event to maintain a brand presence and is cost conscious about the budget for a particular event, it may be ok to negotiate that up front with the organizer. Be thoughtful about the company’s goal for the event and take such goals into account in planning the ideal floor placement before meeting with the organizer’s representative.  Once floor placement is in play, then comes the opportunity to negotiate speaking engagements.

Speaking Engagements

Imagine having the opportunity to place the company’s business leaders or subject matter experts, “SMEs,” in front of a captive audience for a set period of time during a corporate event.  Do you think this candrive ROI?  Speaking engagements can certainly drive ROI during tradeshows and conventions, but how does a company get its leaders and SMEs on the roster? Having a good relationship with the event organizer’s representatives is useful in negotiating spots on the speaking roster, but being armed with potential SMEs and topics when meeting with the organizer’s representative the first time can place the company far ahead of the competition in hopes of getting the best exposure possible.  In some cases, event organizers reach out to a company’s leaders and SMEs about speaking engagements, the savvy negotiator can turn this around on the organizer and negotiate huge discounts on exhibition and attendance if properly executed.  Once floor placement and speaking engagements are in play, then the savvy negotiator will turn their attention to the overall price of the exhibition or attendance.

Price

No one wants to overpay for anything, but there are times when the savvy negotiator may negotiate everything but the price. If ideal floor placement and sound speaking engagement slots on the speaking roster have been secured, it could be that the price is immaterial, but the savvy negotiator will most likely negotiate the price to some degree anyway.  There are some considerations to ponder about negotiating price: having a plan before negotiating price, knowing what the company would like to ideally pay, and the most they would pay to determine when to end the negotiations. Additionally, organizer's representatives are essentially salespeople with internal deadlines that the savvy negotiator will work in their favor.  Remember, timing is everything, but the savvy negotiator knows that playing hardball to protract a negotiation could leave them explaining to their boss why the company will not have a presence at a particular event.  

Conclusion

Everything is up for negotiation, but corporate events are delicate dances with many steps. If the savvy negotiator can effectively finalize a corporate event with good floor placement, favorable speaking engagements, and a palatable price, the chances of the company achieving a sound ROI may increase substantially. For more information on how a savvy negotiator can improve their company’s negotiation tactics, visit HB Consulting, LLC to learn more about our services and to book a Free Consultation.  

Disclaimer: The information contained hereinabove is offered for educational purposes only as it is general in nature, is a matter of opinion based upon information and belief, not predicated upon any person or organization’s specific facts or circumstances, should not be relied upon, nor should the writing hereinabove be taken by any reader as Legal, Financial, or Tax advice under any circumstance.  

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