Even in the digital age, trade shows continue to be a major marketing vehicle and that trend looks set to continue.
It is estimated that up to 40% of businesses use or have used industry niche trade events to further their advertising reach and exposure to target markets.
There are plenty of components to take into account to achieve a successful event, and this article outlines key factors you should consider to ensure your budget will go far enough and cover all potential expenditure.
The following 12 essentials below cover the key areas that most exhibitions stands will require to be successful, and what you should expect to budget for.
1) Pre-Show Marketing
With an estimated 70% of visitors stating they already know which booths they intend on visiting before a trade show even begins, this clearly illustrates that pre-show marketing is critical.
Undoubtedly, people who attend shows do advanced research into which exhibitors will be present at the trade show.
This insight tells any exhibitors that they must make a concerted effort to promote their attendance as far and wide as possible.
Don’t rely solely on the trade show event organisers to promote your attendance.
Always use the best possible means to ensure existing clients and target audiences are made well aware of your intent to exhibit.
Direct mail, email marketing and social media are just three examples of this.
2) Exhibition Space
The next item on your budget should be the rental cost for your exhibition space at the event.
Most trade shows will offer shell schemes and space only stands ranging from just a few square metres, to expansive spaces that can house scores of people at any given time.
So make sure you know what size stand you realistically need and whether you can afford it.
3) Exhibition Booth Design
Once you have your exhibition space booked, the next item on your list is to hire a reputable exhibition stand design company.
Getting your exhibition stand design right is critical, so it’s not uncommon for an exhibitor to spend 40% of their total budget on their exhibition stand and booth space.
Make sure you speak to a firm that has experience of building stands at your desired trade show and can offer a variety of options that fall in line with your budget.
Have a clear idea of your budgetary limits, and try to keep the design and build costs inline with that target budget.
Finances can easily get exhausted and spent by adding unnecessary extras and by making too many design changes.
So have a clear idea of what you need, your objectives and how you want your business to be presented.
This will save time, costs and ultimately, disappointment.
4) Furniture & Flooring
An exhibition stand will look fairly unfinished and uninviting without furniture and flooring.
So make sure you allocate some of your budget towards these.
Always choose a quality of furniture that reflects the professionalism of your brand image.
Go cheap and the final finish could be disastrous.
Having custom furniture and flooring that matches your organisation’s branding is a great idea, but it can be expensive.
If you can afford it, great.
But if not, there are a lot of great looking options out there that will offer a suitable solution that will tie into the look you’re trying to achieve.
5) Electrical Installation
Another requirement that is easily overlooked is electrical installation on your booth.
With most stands requiring lighting, as well as power for laptops, tablets, AV equipment and presentation screens, you’ll need plenty of electrical sockets that will need carefully hiding away from view.
Speak to your exhibition stand designers about this need, as most can take care of this requirement for you.
If not, hire a qualified electrician to handle the work.