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Strategic Review of a Show
by Michael R. Hough
Whether a show is 20 years old or just launching,
it can be improved by undertaking a Strategic Review. A Strategic
Review is a fresh look at everything long range – from its position
in the market to the outside relationships it has. Typically,
this review does not get into tactical matters, but this can be
done in a follow-on study.
Here is what is included in a typical Strategic
Review:
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Establish/re-establish the unique rationale
for the show. What is the state of the overall market in which
the show exists? Consider the show’s position in this market;
what is its competition; and how is it perceived by exhibitors
and attendees? Does the show’s stated rationale compel participation
by the target exhibitors and attendees?
-
Verify that this unique rationale is being
applied to: (a) exhibit sales; (b) attendee promotion
-
Is the show considered an Event in its industry?
What can be done to make it more so?
-
Who are the key players in the industry (trade
magazines, associations, gurus)? Do they support the show?
-
Is the show held at the right time of the
year and in the right city?
-
Should the show co locate with another compatible
event?
-
Should the show have one or more new sponsors?
-
Are the major show functions (sales, marketing,
conference and operations) being managed properly to support
the show (and its unique rationale)?
-
How do the show’s profit margins and various
benchmarks (such as promotion cost per attendee) compare to
similar shows?
-
What steps need to be taken to enhance the
show’s unique position in the industry – and thus its profitability?
* * *
Michael Hough is an industry consultant and author
of The Profitable Trade Show. He welcomes discussion on this topic
at mhough@ntplx.net. |
