Posted on 30, April, 2020
Last Modified on 30, April, 2020
Have you ever felt frustrated when trying to set up your trade show budget? A budget for a trade show display has to be carefully created and there are two key elements to consider. First, you must know all that a trade show budget has to include. Second, you should learn about how you can stretch your trade show budget without harming your performance. Let's learn some budget basics and some tips to facilitate this venture.
A trade show budget can be broken down into these elements:
- Booth space (from 29% to 36%)
- Show services (17%). It includes cleaning, carpet and padding, power, phone and fax lines, waste removal etc.
- Exhibit design (form 11% to 16%). It includes materials, signage, graphics, draping, accessories etc.
- Shipping (12%). It must include freight and drayage.
- Travel and other expenses (13%). It should include accommodation, meals, flights and transportation.
- Advertising and promotions (12%). It includes email, printings, direct mail, giveaways etc.
Now that you have an idea on how you can break your budget down, there are some tips that you need to consider when setting your budget and trying to reduce expenses:
- Make a list of every item and service that will cost you money and set a reasonable budget. Be realistic, don't waste money on a larger booth space if you cannot afford all the expenses that come with the expansion.
- Decide if it is a better option renting than buying a display. Renting a portable display saves you the costs of building an exhibit. You can also consider leasing if you will attend several trade shows in a year. Leasing providers offer you flexible payment plans of three-year payments for instance. Besides, leasing is much better for your tax savings because they are classified as expenses and not as capital purchases.
- Book your booth space early to get special prices or discounts. Early booking can save up to 20% of your budget.
- Advanced ordering of trade show services can prevent you from premium show service fees. Pay as soon as possible for the services you requested to avoid late fees.
- Reduce your accommodation and travelling expenses by booking in advance. Many hotels, airlines and car rentals offer discounts for those who book early.
- Make a good use of the options offered by trade show organizers. Many of them offer free or cost-effective advertising services.
- Get information about all the advantages you have as an exhibitor and make sure your providers will respond if you have last-minute mishaps.
Remember, it's very important to set up a reasonable budget and include all kinds of expenses into it. Also start your planning process at least 6 months before the trade show begins. This is the key for successful results.