As you plan for your next exhibit, creating a realistic trade show budget can help you mind the bottom line and allocate your funds more effectively.
Trade shows conjure up thoughts of lavish networking events, oversized displays, and gimmicky giveaways. One thing that often gets sidelined is an accurate projection of costs and event budgeting. Between the booth space, display, travel, and other necessary items, exhibitions can get costly. Without a guideline, it’s easy to overspend on your presence. Determining how much you can realistically spend ahead of time will help you use your funds wisely to create an attention-getting presence.
Here are six expert tips for creating a trade show budget that delivers.
1. What are your goals?
Consider what you want to accomplish by exhibiting at the trade show, as this will have a huge impact on your spending. For example, will your booth require any special equipment or technology for demonstrations? How much space will be needed? Starting with your goals in mind is a good way to identify the most important elements and begin developing an appropriate trade show budget.
2. Set a limit.
By keeping your spending under a certain amount, it helps you prioritize and include the items that are most necessary and that you can afford. Those fun promotional items might be a nice addition to your exhibit, but they are probably not as important as having a killer display and ample staffing.
3. Choose your booth space and display.
One of your biggest expenses will be your booth space and the exhibit itself. These costs can vary greatly. Local trade shows may offer affordable exhibit spaces while those on a national level might be exorbitant, for example. As for the display, a small popup will be far less expensive than a 20 x 20 island display, so keep that in mind when selecting the space you will occupy. You might also choose to use an existing booth or rent one, which will be much less expensive than creating an entirely new display. In either case, include room in your budget to update or create the graphics.
4. Include marketing and lead generation activities.
To get the word out about your trade show participation, you’ll need to market in advance of and during the show. Determine how much to spend on advertising, press kits, sponsorships, giveaways, lead collection, and collateral. And don’t forget about any costs associated with lead follow-up after the event. Measure your event ROI so you can refine and improve your strategy for the future.
5. Don’t forget the ancillary expenses.
In addition to your booth space, display, marketing, and staffing, setting up at trade shows involves many other costs. Remember to budget for travel and hotel expenses; exhibitor registration fees; booth installation and dismantle, shipping, and storage; electrical; furniture rentals; and any expected incidentals that may pop up.
6. Keep costs down by going local.
If money is tight, consider limiting your participation to shows in your vicinity. This reduces or eliminates travel and hotel expenses, which can add up quickly, as well as the cost of booth shipping.
Trade shows offer amazing opportunities to generate interest and increase brand awareness. But exhibiting can also burn a hole in your pocket if you aren’t careful. A well-conceived trade show budget can help you make smart choices and keep your bottom line intact.
For more than 85 years, companies have turned to Adler Display for trade show exhibits that get noticed. Our creative designs and configurations will help you make a bold statement while staying within your budget. Contact us today to get started.
About Adler Display: For over 85 years, Adler Display has been one of the best-kept secrets behind so many businesses looking their best. Designing and producing a wide variety of high-quality recognition displays, trade show displays, signage and exhibits, lobby and corporate interiors, and historical timelines, Adler’s expert team includes consultants, designers, project managers, and fabricators. Working from a 17,000-square-foot facility in Baltimore that includes a precision woodworking shop, Adler Display handles all printing, construction, and finishing on site. Learn how to achieve your imaging goals and make your business look amazing at: www.AdlerDisplay.com.