Are you exhibiting at a trade show? If so, then this blog-post can come in handy as it will walk you through all the important things that you need to budget for. This is crucial because without proper planning and budgeting you may run into the risk of spending more than what you had expected. Now, if you’re wondering where to start from, then you should first understand the purpose of your trade show booth. Once you’re clear with your requirements, you can begin budgeting all the necessary things that are mentioned below.
- Booth Space
The booth location and space allotted at a trade show are important. There are certain prime locations for which the trade show organizers charge you more. For instance, booths close to the entrance are more expensive than the ones farther away. So, you should know how much you can afford and then decide.
36% of trade show booth budget goes to the booth space as per the Center for Exhibition Industry Research (CEIR).
- Exhibit Display
Exhibit displays play a major role in promoting your company. There are different types of displays including pop-up, portable, modular, rental and custom. They highlight your company’s name, logo, taglines, the products and services. Hence, this selection is important which is why you should learn about the individual costs and then decide accordingly. For instance, the modular ones are costlier than the portable displays. However, if you are a low-budget, then you can opt for a properly arranged portable display.
- Booth Accessories
A booth isn’t complete with only displays. It might require a few more additional accessories such as furniture pieces like couches and tables, LED screens and lighting fixtures. In fact, some of the exhibitors also like including flowers and other décor essentials based on their preferences. All of these have different expenses and once you’re sure of what you need in your booth, you can select them wisely.
- Freight and Drayage
This is optional as freight is involved only when you prepare the exhibit set-up and send it from one place to another which includes your office, warehouse or another show that is located at a faraway place. You can transport these set-ups via plane, bus, ship or truck based on the money that you can afford. Drayage, on the contrary, is the movement of your exhibit from the loading dock to the event location and vice-versa.
There are two types of promotions- one that is done before the show to aware the people who can be your potential customers. This includes newsletters, direct mail, advertisements on audio-visual and digital mediums. You should consider all of them and make a budget to see which ones you can add to your trade booth show. The second type of promotions takes place after the show which includes following up with phone calls and emails. This can be more challenging and may involve higher expenses than former promotions.
- Staff Costs
Have you ever seen a trade show booth without representatives? They are the faces of your company during the show. Hence, you should appoint them from a reputed agency to ensure they are well aware of their job. Remember, you have to spend on their wages, attires, accommodations, foods and commute.
- On-Floor Expenses
This includes a lot of elements and they are the fees of the labourers installing and dismantling the exhibit accessories, displays, lighting fixtures and other essentials. Some exhibitors also appoint security professionals to ensure better safety and security at the show. You shouldn’t forget about any of them when you’re preparing a budget.
Considering all these essentials and their costs, you won’t end up spending more money than your estimate. Get ready for the next event with a strong marketing plan, fabulous trade show displays and a trained booth staff!