Karen Romano
Karen Romano, director of sales, Delta Region at GES, has over 20 years experience in the trade show industry encompassing facility, exhibitor and vendor sales.
Helping Small Companies Navigate Exhibiting
June 30, 2012
I’ve always appreciated our industry’s effect on the economy. It’s a fact, whether you work in facility management, show management or as an official services provider, the trade show industry positively impacts the U.S. and world economies.
As long as buyers exist, we’ll continue to have B2B and F2F opportunities – and trade shows are the best option for companies to market themselves and their products.
Unfortunately, many small business owners don’t see the value of investing their resources in trade shows (and a show organizer can tell you it’s one of the toughest sales obstacles to overcome).
Managing through the downward spiral of the U.S. and world economies has become a common necessity for businesses these past few years – especially “Mom and Pops.”
I’ve observed show organizers seeing 20-25 percent annual turnover in their exhibitor base. A majority of these are the 10×10 exhibitors or the “Mom and Pops.” The cost to small business owners to market their services or products isn’t as simple as pulling out the checkbook.
Sometimes, parting with the cost of doing a trade show is an emotional decision and could be the difference of whether or not their books stay in the black.
How can we, as trade show professionals, assist beginners in navigating their way through the financial expectations of exhibiting? It’s not that trade shows can be expensive – they ARE expensive.
Trade show costs, combined with a bad economy are forcing the smaller, 10×10, first-time exhibitors to reassess their participation. Through education, the first-time exhibitor can learn what to expect and how to maximize their investment.
Show organizers and service providers can help them plot a course of action and help them to assess the value of their decision. This creates a “win-win” for everyone. Most importantly, this interaction helps us to understand exhibitors’ concerns and ensure that their investment will pay-off.
Conventions and trade shows will always be one of the most valuable marketing decisions a small company can make.
Nowhere else can small businesses meet thousands of buyers looking to spend money. The fact is, companies who continue to market themselves and their products through tough economic times are the companies that survive.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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