Trade shows, which for the past couple of years have been the one silver lining for the B-to-B media marketplace, are the latest media category to feel an economic pinch. Revenues for B-to-B trade shows and events, a category the American Business Media has re-branded "face-to-face media," have declined 3.7% during the first nine months of 2008.
That's a double whammy for the U.S. business press, which already had been experiencing an ongoing erosion of its print advertising base. Through the first nine months of the year, B-to-B ad publishing ad revenues are down an estimated 5.9%, according to the ABM's Business Information Network database, but ad pages in the business press - considered by many to be a more accurate barometer of actual revenues - are down 8.3%.
The ABM estimated that the combined trade show and magazine revenues have declined a total of 4.8% for business publishers, indicating that the B-to-B marketplace is eroding at nearly three times the rate of the consumer media marketplace so far this year. According to recent estimates from TNS Media Intelligence measured consumer media outlets are down 1.7% through the first nine months of 2008.
All things considered, ABM President-CEO Gordon Hughes said B-to-B media "appears to be holding up well" within a volatile economic climate. "For the long term, we believe that B-to-B media will continue to serve the needs of the marketing community with superior products and services, and will grow accordingly," he stated.
The ABM does not breakdown its event revenues estimates, but according to its magazine advertising database, revenues have fallen in 16 of 21 categories tracked by the organization.
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It's not a stretch to realize that companies are sending fewer staff to each show. The days of rewarding an employee with the perk of attending a Las Vegas based show are over. However, I believe the key buyers--those whom the exhibitors are really there to see--will continue to travel to b-to-b events. I liken an economic down turn to a cleansing of attendees: fewer "tire-kickers" will be in attendance to take up the valuable time of an exhibitor.
The bottom line is we will continue to see a decline in attendance at b-to-b events and there is little that any event organizer can do to change that. What organizers can do is prove to exhibitors that the key buyers are still showing up at their events.
Perhaps the industry numbers are down, but balanced reporting is a must, particularly it tough times like we're facing. Continued Gloom & Doom reporting just perpetuates a mindset of contraction. Certainly there are other events that have performed above the industry as a whole. Some shows, like many magazines and newspapers (B2B and consumer) are still in a much needed transition, but let's focus on the positives once in awhile...or at least report them equally with the bad news.
Attitude is everything!