Everything is about money. I mean not everything, but when you are making living out of something, it is usually about money. My job is no exception, even though I am doing event management which I consider as highly satisfying because of other reasons that making money. I have a business plan to meat and I am responsible for highest possible revenue from the event. That means not only for my company, but also for the companies participating in our event.
Pricing policy is quite complicated topic to cover in one short post. I would like to mention it anyway, because last week was deadline of beneficial price period for exhibition space rental. Thanks to that, last few days were all about new exhibitors, signing in the last possible moment and even after that. Our trade fair is using three different price periods for exhibition space rental, with increasing price level trend. Reason behind this tactics is that we would like to motivate our exhibitors to sign in as early as possible. An earlier participant makes our administrative agenda easier and we are allowed to prepare most of the floor plans, invoices, marketing orders, catalogue entries and other things before most stressful time right before the event.
Furthermore pricing policy has to be adjusted very carefully in order to succeed in two opposing goals. Firstly it has to be high enough to make event look luxurious. Secondly it has to be low enough in order to pay off for the participants. Last but not least important rule of our pricing policy is total equality. We are not offering discount for the exhibitions space. There are no exceptions in any cases. Thanks to this rule, exhibitors are not envy to each other and best of all, our negotiations with possible clients are much easier. We are not selling exhibition space. We are just offering possibility to present their company among other well know companies at the biggest electrotechnical trade fair of the Czech and Slovak Republic. That is a huge difference. When it comes to the pricing and questions about possible discounts, we just declare our prices and wait for customer’s decision. If they want to participate, they have to pay just like anyone else did.
This pricing policy seems to be paying off. According to the statistics, more than two thirds of exhibitors are signed in within second beneficial price period. That is huge win for our work distribution and great relieve for our nerves. It is somehow easier to go on with work, when you are sure, that event is really about to happen, thanks to the number of participants.
Looking forward to what brings another week and thanks for reading.
Sincerely yours, František Hamrozi