Don’t cut that conference budget!
Many companies are facing “hair-cuts” with their conference budgets as a way of saving money but is this the right approach? Will the cost savings help the bottom line? While cutting out conference attendance will have a few short-term benefits it will ultimately undermine your long-term growth and partnering strategy. Over the years, it has been proven that attending conferences is a far superior venue for networking, negotiations and closing deals than staying put in the office. The next time you are debating whether or not to attend a conference, consider the following points in your decision:
Face-to-Face Meetings are Key: Harvard Business Review Reader Poll Survey stated 87% agree face-to-face meetings are essential for “sealing the deal” and 95% agree these meeting are key in “building long-term relationships”. Download the Harvard Business Review PDF.
Cost Savings in Travel: The number of face-to-face meetings you can set-up while attending a conference is much more efficient and less expensive than meeting with these customers in each of the home-countries. Not to mention the time you’ll save meeting with these customers in one location!
Corporate Image: How would your customers react knowing you will not be attending an event as you have years past? Your non-presence could have a negative “silent” impact. This may leave delegates to ask others where you are or come up with their own assumptions as to why your company did not participate.
Education and Industry Knowledge: Conference attendance is the fastest way to learn new innovative, cutting edge ideas from your customers and competitors while working the trade show floor or listening to various presentations.
For the ticket price and travel costs you simply can’t beat the cost effectiveness and efficiency of networking with your customers, peers and competition — all within a couple days — while promoting your product.
