Posted by

Barry Siskind

Community Manager

 

I know the topic of stand pricing is sensitive but I have something for you to consider. Suppose you charged the list price to those exhibitors who have a proven track record and will come back to your exhibition over and over again and for those who are hesitant there was a discount.

 

Here’s another scenario. Suppose you could negotiate a deal where your best exhibitors would commit to be part of your exhibition for the next 5 or 10 years if you would guarantee that the price would remain as it is today? Would you take the offer? Just consider that if you could pre-book your exhibition for 5 or 10 years you might be able to approach your suppliers and make a similar promise if in fact they would hold their prices. (It’s tantamount to being in the futures market).

 

What these two scenarios have in common is something in retail called Dynamic Pricing.

 

Dynamic pricing is a key characteristic of e-commerce that allows for prices that change or fluctuate due to different variables, conditions, and situations.  Airlines and hotels have been doing it for years, charging varying prices depending on the location and timing of the booking.

 

In a time when exhibitors have become price sensitive perhaps it’s a time for our industry to re-look at its revenue model, which hasn’t changed much in the last century  and apply principles that will make participating in your exhibitions and events an easier commitment.