As the economy has slowed down, trade shows and private corporate events are suffering. The Trade Show Exhibitors Association recently released the results of its 2009 Exhibit Marketing Survey. The survey indicates that exhibitors plan to decrease the number of shows they attend and are planning to spend less in 2009. Budgets have been cut by an average of 17%. Corporate event spending is also projected to join in the downward trend, with the average budget decrease at 30% under last year’s spending.
The medical industry is impacted by the economic slowdown, but also a number of other factors. Most importantly, various transparency and code of ethics laws are preventing vendors from sponsoring the physician’s attendence at tradeshows. Business travel budgets are also tight, leaving would-be attendees stranded at the office.
How can you reach an immobile customer base? Reach them where they are, when they need you, 24-7 through the Web. Savvy marketers are making the most of their advertising dollars through this lower-cost, viable solution. Webinars, webcasts, virtual tradeshows and social networks are all online meeting-based options for marketers who are looking to reach physicians when they’re learning and networking.