Deciding whether it's trade show time
By Jenny C. McCune • Bankrate.com

With the economy still struggling, companies are weighing whether the expense of trade show participation is worthwhile. Trade show attendance has been down and some owners see decreased participation as a negative; fewer companies on the showroom floor means fewer business leads.

Other firms, however, believe lower attendance is a good thing.

"I very much believe in quality vs. quantity," says Susan Friedmann, the Trade Show Coach, who is based in Lake Placid, N.Y.

B.J. Bueno, president of the Orlando, Fla., consulting firm Summit -- Trade Show Rainmaking, agrees. "This is the time to go," says Bueno, "because instead of sending 20 people, companies are sending five and they are all decision makers.

"If your competition is scared of going, this gives you a chance to really push hard and get those extra leads and even win over some of your competitor's customers."

Before you decide whether a trade show is the best spotlight for your company in less-than-stellar economic times, you must do your homework.

Set your objectives
"Establish clear goals as to why you're going," says Bueno, co-author of "The Power of Cult Branding." "Key questions to ask yourself are why am I attending this show? What would make this trade show successful? What specific number of leads, or sales closed on the floor, do I want to walk away with?"

Find the appropriate venue
Figure out which trade shows will help you meet your objectives. Friedmann says a good place to start is trade associations. Many put on shows; even if they don't, they know which are the most successful shows in their industry.

Ask the company putting on the trade show for information on who attends the show and who exhibits there. Talk to exhibitors from past years -- you can probably find them on the trade show organizer's Web site or ask the organizer for references -- and find out what they thought of the show.

Friedmann cautions against "just getting lulled into going because of the great advertising that that trade show company is doing." Instead, gather information and then analyze it so you can make an informed decision. Robert Ensley, president of Exhibit Resources Midwest in Urbandale, Iowa, recommends business owners check out two Web sites: Trade Show Exhibitors Association and Exhibitor Magazine.

Get the word out
Your work doesn't end once you've decided to go to a show. Let potential clients and others in your industry know your company will be there through direct mailings, phone calls and publicity. Set up appointments with customers and prospects before the show opens.

Making the decision to go, of course, is just the first step. Now you must pay for your participation. Attending a trade show can be an expensive proposition. But there are ways you can cut costs and still make a good impression on the trade-show floor.

Attend fewer shows
Dennis Fedoruk, owner of Small Fry Productions and The Brainy Baby Company, used to exhibit at a lot of different shows. Now he only goes to the Toy Fair each year. He finds that less is more. In this case, he spends less by going to one show and he gets more leads from the Toy Fair than he used to get from going to many different shows.

Find a show that fits
Look for the show with attendance that is most similar to your specific market. "The more targeted the audience, the better," says Ruth P. Stevens, founder of eMarketing Strategy in New York City. Don't necessarily go to shows that are a big hit with your competitors. It's more important to go where the sales are, the one that your customers and potential customers attend.

Save money on your booth
Rent instead of buy. If you want to buy a booth, purchase a used unit. Similarly, you may be able to piggyback with another company. A trading partner may be willing to sublet you some of his space. For example, manufacturers are quick to give their retailers space at a show for low or now cost. A manufacturer's booth looks better because it's filled with knowledgeable salespeople and the opportunity gives you, the reseller, a boost.

Don't exhibit
Your company can save money by attending rather than operating a booth. "There are a number of ways to take advantage of a show without exhibiting, such as holding a press conference, creating a hospitality suite in the show hotel or hosting a dinner for clients and prospects," says Ruth Stevens, author of the forthcoming "The Trade Show Marketing Handbook."

Also look into speaking at the show. That's how Steven Rothberg, founder of CollegeRecruiter.com gets the most out of trade shows. "When I speak at a trade show or a conference, I normally walk away with half a dozen new customers, which greatly exceed the travel and time costs," Rothberg says.

Follow up
Finally, if you choose to take the trade-show route, make sure it gets you to your destination. After every show you attend, either as an exhibitor or as an attendee, debrief yourself and your staff. Answer the crucial question: Did we meet our goals by attending the show? If the answer is no, try to find out why and use that information. It will help you decide whether you should nix trade shows altogether, revise your trade-show tactics or find a different type of gathering to showcase your product or services.

Jenny C. McCune is a contributing editor based in Montana.