Keep an eye on the ball…or budget?
Getting strategic in a creative gypsy way. Yes it is time to reevaluate the numbers and get ready gypsies; we are ALWAYS the targets for budget cuts. This happens mid-year just as you think you have your “annual” budgets and plans set. Management teams are called in for that dreaded mid-year review to determine what is working and what has fallen behind or off the roadmap!
Ok, gypsies here is where you come in, before the meeting happens, time to gather the clan of sales, product development teams, and have a detailed list of the shows and events you have scheduled for the rest of the year. Your strategic bones cast show this happens every year just like Christmas. Be prepared ahead of time and save yourself some angst. Find out what products/services are still on time and those projects that might be lagging; figure out how your marketing campaigns are doing on the timeline. Get input from your sales team and find out how the markets they are selling into are doing and if they feel the shows that are left for the end of the year are still viable and the reasons why.
Having a report ready defining your shows and allocations are important when it comes to defending your budget and having a contribution to the budget reduction (you know that is also coming will need to have some kind of offer of budget sacrifice, savings, or proof of financial benefit). You need your champions to strategically go to battle with you. Having backup contributions from team members gives you that strategic edge to be ready to work with management so that you don’t lose money or have product marketing and sales ready to hunt you down.
Stressing the importance of evaluating the shows correctly is critical to doing the organization justice. Educating them in the fact that shows are so much more than “number” of leads. Often management teams will see shows and think “cut, cut, cut” and when sales goes out to the customer the first thing they hear is; oh are you still in business? We heard you cut this product line? Sorry we went with your competitor they are stronger in the industry and we talked to them at XYZ show, they thought you were out of the industry too? Humm, imagine that, your competitor using this to their advantage.
Not that all shows are a must exhibit/sponsor, but talk to your sales/product development teams they may be speaking or considered a leader or expert in the industry and if your company isn’t supporting them or backing them with a booth on the show floor, it can appear they are the only person that is working on the project or feels the importance and any other marketing may fall flat.
Keep a keen eye gypsies, mid-year review is here, time to pull out the shell game, and make sure you have something to put under them, there is no way you will be taken this year, you are ready!
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