Trade show budgets

Trade show budgets

Trade Show Budgets-Plan for Success

Trade show can be expensive ventures, no doubt. After you have decided which trade shows to attend and paid the necessary registration fees, there are numerous other important trade show budget items to consider. What exactly is included in a trade show budget? And how can you reduce your trade show budget without harming your trade show performance?

It is difficult to recognize a positive ROI when you haven’t calculated your trade show costs. According to trade show research, the following is a reasonable guideline for trade show budgets:

Booth space (registration fee): 29%
Exhibit design (graphics, materials, draping, signage, accessories): 16%
Show services (cleaning, waste removal, phone/fax lines, power): 17%
Travel & expenses (transportation, accommodation, meals, car rental, taxi): 13%
Shipping (freight and drayage): 12%
Advertising, promotion, special activities (direct mail, email, literature, giveaways): 12%
Other: 1%

Registration fee aside, approximately 70% of trade show expenses can be effectively managed by your company. Register as soon as you can to take advantage of any early-bird specials. For your exhibit design, consider purchasing a previously-enjoyed booth or try renting a booth if it is your first trade show, or if you only attend one or two shows per year. Or put creative minds to work and subject your current display to a makeover instead of purchasing a new booth.

Avoid premium show service fees by ordering these services in advance from an external source. If you must avail yourself of the show services, make payment as soon as possible to avoid skyrocketing late fees. And take time to read your show’s Exhibitor Manual – quite often you can avoid rising costs by registering for any necessary show services earlier rather than later.
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Trade shows and buzz marketing

Here’s the Buzz Word About Buzz Marketing

Buzz, also known as word-of-mouth marketing, is a powerful way of capturing the attention of customers and the media. And it’s all about starting a dialogue. Good buzz occurs when your company, product, or service has become the source of interesting conversation. Interesting conversations are a natural form of entertainment, and suddenly your company, product or service is newsworthy, fascinating, and in the spotlight.

We tend to rely on friends, co-workers and peers for product and service recommendations. Acquaintances are credible sources of information because we know that they aren’t being paid to sell us an item. While most marketing employs a “push” strategy – pushing a message at people – consumers actually react much more favourably to the “pull” strategy, which motivates the customer to seek out companies. So how can you use trade shows to generate some buzz of your own?
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How much booth space do you need?

How Much Is Enough?

Bigger booths often have a bigger impact. While it’s true that people are more likely to visit and remember the giant booths at a trade show, many companies don’t have the budget to reserve those colossal booths. So how much booth space can you afford, both in terms of dollars and total capacity?

Booth space requirements hinge upon several factors: your trade show objectives, the product or service you’re selling, how you plan to generate leads, and the way you wish to conduct business at your exhibit.

In terms of objectives, your space needs will be dictated by your specific reasons for attending the show. Will you be emphasizing company awareness? Introducing a new product? Recruiting new partners? Or perhaps gaining press or publicity? Different show objectives will demand different activities, and hence contrasting space requirements.

If necessary, select only a few of your top products or services based on those you want to actively market at the show. Emphasizing a few products enables your company to display and sell more effectively, without weakening your impact with a variety of products or services that demand multiple marketing strategies. Visitors can easily be overwhelmed by a myriad of messages. Keep your selling strategies at a minimum to reduce your overall booth space requirements.

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