Trade shows are the best way to promote your brand to industry professionals, allowing you to present your products or services to thousands of people in only a few days. Unfortunately, these industry expositions do not come free and your company is going to need to pay to play. Since trade shows can be a huge revenue and contact resource, it is important that your company does everything possible to properly plan for these events. To avoid overspending or wasting funds on unnecessary supplies, here are some helpful tips for setting an effective and efficient trade show budget.
Six points of emphasis
When it comes to establishing your exposition budget, there are a few things that your company should keep in mind. While some aspects of getting ready for your upcoming trade show may cost more than others, it is important to spend equal time and effort on every stage of the preparation process.
Exhibit space
This will be your most costly expense, as trade show real estate typically consumes 1/3 of your trade show budget. The price of your space can vary based on the type of event you attend and where you choose to set up your booth.
Booth & transportation
Next, you’ll have to budget for renting or buying a display booth, as well as transporting it to and from the event. Some of the expenses to be aware of include shipping, storage, drayage, packing materials and miscellaneous transportation costs.
Labor
After you’ve established your booth and transportation budgets, it’s time to arrange for people to do the groundwork and actually bring your booth to life. Set aside resources for installation and dismantling, machine operators, riggers and any other labor costs associated with the set up of your booth.
Promotion
The goal of exhibiting at a trade show is to promote your brand and create awareness for your company. To do so, you’re going to need to allocate funds for advertising, giveaways, literature, printing costs, mailings and any other creative promotional materials you choose to use.
Ancillary services
You probably aren’t going to be paying out of pocket for your trip to the upcoming trade show, which means that your company is going to foot the bill. Prepare to spend funds on hospitality, perspective client dinners, entertainment and other activities while on your business trip.
Booth staff
You’re going to need a crew to run your expo booth, which means putting money away to pay the hard workers making your company shine at the show. Some of these expenses include transportation, hotels, meals, training and compensation for hours worked.
While budgeting for an upcoming trade show isn’t the most difficult process, it is easy to forget small details that could derail your entire experience. By properly planning and setting an appropriate trade show budget, you can spend more time working on ways to sell your brand and make the biggest splash possible at your next trade show or industry event.
At Structure Exhibits, we’ve been designing innovative trade show displays in Las Vegas for years, and can walk you through the process. To learn more about planning your next event, call us at (888) 633-4162 today!
