Are we currently in the midst of a stormy autumn storm? We are noticing it in all areas of life: everything is getting more expensive. To be more precise: between January 2022 and September 2022, the consumer price index reached a value of 7.9%, which is the highest value in the past 30 years.
Similar to the corona pandemic, companies will tend to act more cost-efficiently in the face of inflation and adjust their business conditions in relation to inflation. How can trade fair appearances be realised cost-effectively without sacrificing this type of live communication?
We all hear it on the news and can probably recognise the term inflation correctly. Nevertheless, here is a brief explanation of the term:
You're probably familiar with it: you go shopping at the supermarket and realise that prices have risen enormously. Looking back, you remember the prices of previous years and wonder why everything has become so much more expensive. This increase in the price of goods and services is defined as inflation.
Inflation occurs when goods and services become more expensive in the long term. A permanent increase in the price level reduces the purchasing power of money. When prices rise, companies invest less. In order to cover their costs, they will have to adjust the selling prices of products and services. As a result, consumers receive less value for their spending. As a result, persistent inflation reduces the value of money.
A basic distinction is made between different criteria for inflation: recognisable price increases include overt, covert and pent-up inflation. On the one hand, the causes of inflation can be supply inflation, i.e. the price level is driven up by the costs of companies. On the other hand, there is demand inflation, which is caused by excessive demand for goods and services.
Germany is the world's largest trade fair centre. Many important global industry gatherings take place here. If prices rise in the future, trade fair organisers could be restricted in the design of trade fair events!
Since the coronavirus pandemic, the trade fair industry has been considerably restricted, but demand has picked up again in recent months. This is due to the current coronavirus restrictions. However, the future rise in the consumer price index will also have an impact on the trade fair industry. The demand for trade fair offers will decline again due to the high or rising inflation rate, as for some companies a trade fair appearance will be too cost-intensive.
Exhibitors who are already regularly present at various trade fairs will face further challenges in the future: A customised exhibition stand will be beyond their budget. This is why solutions are needed that enable customised trade fair appearances despite price increases.
Are you also planning to organise a trade fair in the near future and are worried about how you are going to cover the costs without losing impact at your stand?
Cost-effective implementation with the help of event resource management software can help. You can control all your live communication measures in your own portal and access rental material without losing the individuality of your trade fair stand.
ExpoCloud gives you access to all services:
ExpoCloud - the Event Resource Management - provides service and support for a secure and professional exchange for the benefit of our customers. Working with us, you can plan, implement and evaluate all areas of event marketing (stand construction, event management, advertising material handling, print products) within a short space of time. To develop projects according to a standardised trade fair concept, we focus on process, data and cost orientation. The company's goal is to make event marketing tasks as simple, cost-efficient and effective as possible for our customers. With ExpoCloud, you can ensure that your exhibition stand is the eye-catcher of the event.
Here is an overview of the main advantages of such a software solution:
In addition to trade fair planning, costs can also be saved by analysing live communication measures.
If you would like to analyse the flow of visitors to your trade fair presentation, Event-Metrics is the ideal solution for you! The Event-Metrics Sensor records visitor behaviour in compliance with data protection regulations. The optimisation of your trade fair concept is determined on the basis of the measurement and evaluates the success of your live marketing measures. But what does Event-Metrics have to do with inflation? The Event-Metrics Sensor makes it possible to plan and optimise trade fair appearances in detail in order to carry out the subsequent trade fair appearance in a targeted manner. In our trade fair studies, we present the evaluation of various trade fair appearances using the Event Metrics sensors.
To the exhibition stand analyses
Ultimately, there are many ways to secure a personalised and professional trade fair presence despite the upcoming price increase. With ExpoCloud, our WWM team enables you to realise uncomplicated and targeted event marketing measures. Our project managers are always at your side as contact persons and accompany the process from planning to analysis. Right now, customer acquisition and maintenance is more important than ever!