IIR Competition
Now Viewing IIR's competition in: Trade Show and Event Planning (primary)
Call Preparation Questions
Customers, Marketing, Pricing, Competition
What industries does the company serve? - Small trade show planners may specialize in particular industries; large companies tend to diversify to avoid being affected by industry-specific economic swings.
What is the company's average trade show size? - Most events have operating budgets of about $50,000; large trade show budgets can approach $2.5 million.
How does the company market its services? - The Internet and industry-specific publications are commonly used.
How involved is senior management in sales? - Senior managers often call on current and potential clients.
How effectively does the company respond to RFPs? - Trade show and event planning suppliers generally receive a RFP to conduct a show.
What are typical registration fees for the company's events? - Registration fees for attendees are generally less than $500, but can be higher for large shows lasting multiple days.
Competitive Landscape
Demand is driven by overall economic activity and corporate profits. The profitability of individual companies depends on managing costs, marketing shows effectively, and retaining valuable staff. Large companies have advantages of multiple locations and economies of scale in negotiating labor, transportation, and supply contracts. Small companies compete successfully by delivering superior customer service that drives repeat business. The industry is labor-intensive: average annual revenue per employee is about $100,000.
Business Challenges
CRITICAL ISSUES
Dependence on US Economy - Spending on trade shows and events is highly sensitive to fluctuations in the general economy, and is often seen as a discretionary expense that can be cut when corporate profits fall. Various industries cut or increase shows based on their economic viability. The number and size of shows generally falls during economic downturns.
Retaining Qualified Staff - Trade show and event planning companies' success depends on the close relationships between meeting planners and clients. Planning companies rely on repeat business from clients, particularly for annual trade shows and conferences. Successful meeting planners develop knowledge of client goals and strategies, and build relationships with client executives, industry speakers, meeting venue managers, and event service suppliers. Planners who leave a company generally take clients with them.
Industries Where IIR Competes
- Business Services
- Advertising & Marketing
- Trade Show Exhibition, Event Planning & Related Support(primary)
- Advertising & Marketing
