Although participating in a trade show is a fantastic way to grow your business and meet potential clients, it can quickly get expensive. Creating a detailed trade show budget beforehand ensures you’ll have enough money to cover the details, from the booth to staffing and everything in between.
So, what’s the best way to create an efficient budget for your brand’s next trade show appearance? Below, Oser Communications Group discusses a few tips to make the budgeting process simple and stress-free. As one of the nation’s most trusted trade show advertising agencies over the past 50 years, the team can also help make your next trade show count, so get in touch!
Savvy business owners examine and incorporate multiple factors into the company’s trade show budget, but the top cost factors include the following:
A first-class budget will cover the cost of these trade show elements while prioritizing quality. So, try the tips below to develop a budget that’s a perfect fit:
Without a doubt, your business’s exhibit space will be the most expensive item on the budget. It’s the hub for your promotions and marketing on the day, and it needs to be amazing!
A good rule of thumb is to factor in your booth space at 35% of your entire budget for the trade show. The amount ensures you have plenty of money for reservations and an ideal position for visibility on the trade show floor. You can then distribute the remainder of your funds to lodging, show services, and other features you want to include.
Trade show experts recommend setting your total budget around three times higher than your booth’s reservation expense. It’s an industry standard and gives up-and-coming companies a firm starting point for a budget discussion. However, there’s no rule against getting creative once you know what you’re doing.
Top-notch companies always set goals to achieve during a trade show. Some prioritize finding new customers, while others want to draw attention to upcoming products or showcase their brands further afield. Whatever the goal, you should align any extra expenses toward those elements that can help your company achieve its trade show objectives.
Do you want more eyes on your products or services? Spend a bit more on advertising, booth design, giveaways, and networking tactics that will bring what you’re offering to the forefront.
If you want to make your next show a success without surpassing your trade show budget, why not contact Oser Communications Group? The team can develop effective pre-trade show marketing strategies to drive customers to your booth and much more. Call Oser Communications Group at (520) 721-1300 to see what we can do for you today!