{"id":5325,"date":"2016-01-21T14:32:25","date_gmt":"2016-01-21T14:32:25","guid":{"rendered":"http:\/\/www.naylor.com\/associationadviser\/?p=5325"},"modified":"2018-12-01T05:18:35","modified_gmt":"2018-12-01T05:18:35","slug":"on-site-exhibit-renewals","status":"publish","type":"post","link":"https:\/\/www.naylor.com\/associationadviser\/on-site-exhibit-renewals\/","title":{"rendered":"How to Secure On-site Exhibit Renewals"},"content":{"rendered":"
Tips and best practices for on-site exhibit renewals from the trenches<\/em><\/h5>\n
\"Pete
Pete Dicks, Naylor Event Solutions<\/em><\/figcaption><\/figure>\n

One\u00a0of the most efficient ways for associations to boost non-dues revenue (NDR), hit budget forecasts and ease anxiety is to sell exhibit space for future trade shows at<\/em> your current trade show. Show organizers call this tactic \u201con-site renewal renewals,\u201d and it can be a very efficient, profitable way to sell. You leverage\u00a0the value of next year\u2019s show while exhibitors are experiencing a successful run at your current show. It\u2019s a great relationship-building technique that also provides monetary benefits.<\/p>\n

\"Tweetables\"<\/p>\n

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High-performing associations can book 60 to 80 percent of next\u00a0year\u2019s exhibit space during their current show.\u00a0\"RealLilTweetables\"<\/a><\/p>\n

Advance on-site exhibit renewals\u00a0are great for relationship building and financial forecasting, not just for revenue.\u00a0\"RealLilTweetables\"<\/a><\/p>\n

Make next\u00a0year\u2019s show details\u00a0available to exhibitors at this year\u2019s show to encourage renewals.\u00a0\"RealLilTweetables\"<\/a><\/p><\/blockquote>\n

Successful on-site exhibit renewals\u00a0begin with pre-show planning and are amplified by impactful communications during the show. You want exhibitors to renew at your current show for several reasons:<\/p>\n

\"Make
On-site exhibit renewals help\u00a0your sales team spend less time on the phone and more time strengthening exhibitor relationships in person.<\/em><\/figcaption><\/figure>\n

First, the more exhibitors who renew on-site, the less work your sales team has to do down the road to fill your show floor. Wouldn\u2019t you rather have your sales team work intensely for a few days during your show \u2014 securing at least 60 to 80 percent of the show floor for next year, than have them spend weeks or months chasing after exhibitors by phone? Your team\u2019s time is likely better spent strengthening exhibitor relationships in person, and using time in the office to follow up with leads generated at the show or through other in-person events.<\/p>\n

\u201cSelling exhibit space at the current show for the next year’s show frees up our time during the year,\u201d said Victor Parra, <\/strong>president and CEO of the United Motorcoach Association<\/a><\/strong>. \u201cInstead of focusing most of our time on how much more space our sales team must sell to reach our goal, we’re able to turn much more of our attention to getting to know our upcoming exhibitors.\u201d<\/p>\n

Second, on-site exhibit renewals create cash flow for your association that you can use right away. Exhibitors who commit to exhibit space for next year typically submit their deposits to you within 30 to 60 days. If they sign up during your current show, you can start applying those funds to next year\u2019s show, or to other events supplemented by your main show, or to any other immediate need your budget calls for.<\/p>\n

The frequency of your event can have a bearing on advance sales, however. On-site exhibit renewal sales\u00a0work best with annual<\/strong> events because most of your exhibitors are working within annual budgets. It\u2019s difficult to sell exhibit space for multi-annual events because companies budget for sales, marketing and business development, are their budget typically is not set more than 12 months in advance. It\u2019s not practical to commit funds to an event beyond next year\u2019s budget. For these events, pre-selling is more common and one tool that can be used is an \u201cintent to exhibit\u201d preliminary sign-up.<\/p>\n

Leverage lead time<\/strong><\/h4>\n

When preparing to offer on-site exhibit renewals, give your current exhibitors ample information about the following year\u2019s exhibit opportunities as far in advance as possible. In your pre-show communications, make it clear to exhibitors that registration for next year\u2019s show will be available at your upcoming show. Have data readily available about next year\u2019s venue, dates and pricing. If your association will gather\u00a0in a new venue, your exhibitors will want to know more about the benefits of the chosen destination. Send a printable floor plan (including pre-sold anchors, if possible) of the venue to exhibitors alongside your space availability announcement. Advertise the types of spaces and sponsorships available.<\/p>\n

Best practice for pre-show sales? Call your current exhibitors before the show to discuss your on-site renewal process and the benefits of committing one year in advance. This way, you can answer all questions, create urgency, and nudge your exhibitors toward renewal. You can also collect exhibit space deposits right away, which is a benefit for the association hosting the show.<\/p>\n

“Our Naylor sales team consistently sells 50 percent of next year\u2019s show floor every year,\u201d said Phil Russo, <\/strong>CEO of NAFA Fleet Management Association<\/a><\/strong>. \u201cHaving the funds from pre-sold exhibit spaces up front allows us to immediately start investing in traditional programming as well as new innovations for future shows. These advance monies give our association a buffer with which to expand our event programming and test out new formats without sacrificing what we know works well with our members.\u201d<\/p>\n

\"UMA
Pre-show communications like this one for the United Motorcoach Association’s Motorcoach EXPO can assist exhibitors with their renewal decision before they arrive at the show.<\/em><\/figcaption><\/figure>\n

Make it as easy as possible for exhibitors to make their purchasing decision ahead of your show so that when they arrive on site, they have already made the decision, they already know their desired space specifications, and they know how much they can expect to spend.<\/p>\n

If you have a priority point system for exhibitor enrollment, it is customary to give past exhibitors a 30-day notice of their ranking, a description of the on-site renewal sales process, and an invitation to schedule a renewal appointment during the show. Include details about how a company can move up in priority to get the space they want.<\/p>\n

Some companies, especially first-time exhibitors, won\u2019t be comfortable committing right away to next year\u2019s show. To help convince these exhibitors, ensure your pre-show communications and everything your event staff does ensures that these first-time exhibitors have a positive experience. Additionally, know how well your current show is performing so you can show these vendors the ROI they are receiving by participating:<\/p>\n