The extreme access found at tradeshows may be exactly what's breaking your budget. Often, you may feel like you need to spend money on the latest and greatest to compete. Tradeshow exhibitors waste millions of dollars and man hours every year. Many factors go into all the wasted work and money. If you want to stay on budget and ensure you are not wasting money at each tradeshow you attend, make sure to avoid these five budget mistakes.
Waiting Until the Last Minute
Want to waste hundreds, maybe thousands of dollars on unnecessary fees? If so, wait until the last minute and everybody will get inside your wallet for a little extra cash. The early bird really does get the worm with tradeshows.
You can save money by placing orders early, reserving your spot early, notifying outside contractors on time and ordering everything you need early. Make sure you place your order for anything and everything you need plenty early or you will pay for rush fees, extra shipping and other fees.
Overstocking the Giveaways
The point of giveaways is to get rid of them all by the end of the show. Whether it's a simple brochure or something really cool, anything you plan to giveaway needs to be carefully estimated. Bring too much and you will not only waste money on things you don't need, but also on the time it takes to pack it up and move it to storage.
A good rule of thumb is to bring 200 pieces for every 1,000 people expected to attend the show. In addition, make sure your staff is distributing the items and brochures to every single person they come in contact with. This will help keep you from wasting giveaways.
Forgetting to Inventory Exhibit Properties
Could you imagine arriving at your next show only to find out you're missing a chair, table or something as simple as a counter leg? If this happens you will be scrambling around to find what you need. This will cost you both time and money.
Even if you arrive to find something as simple as a few burnt out light bulbs, you may be left scrambling to find the right type and size for your lights. This can cause headaches you don't need and may cost you money you don't want to spend.
Instead, inventory everything ahead of time, make sure you have extras of items like light bulbs and ensure everything is in good condition before sending your exhibit off to the show.
Letting the Installers Go to Work without Someone from Your Staff There
When you don't assign someone to meet the installers at your exhibit before they begin the installation, you may end up spending thousands of dollars you don't need to install. If the installers arrive and cannot find any type of set-up instructions, they may start racking up all kinds of time waiting for instructions. Even just 30 minutes can end up costing you a few hundred dollars.
Without somebody there to meet the installers and give them instructions, they may just go at it themselves, which may cost you in many ways. If they make a mistake, you pay for it because you didn't give them proper instructions. Make sure somebody is assigned to meet and manage the installers as they do the job. This could save you a few hundred to more than a thousand dollars per show.
Not Creating Proper Booth Staff Conduct Rules
Sending your staff away to a new city for a few days to work a tradeshow provides plenty of temptation. You may end up with a salesperson showing up hungover, drunk, late or not at all. Your staff may decide to leave early one night, which could cost you leads, sales and profits.
Before sending your staff off to a new city, you need to set specific rules to ensure everything gets done. It's not a bad idea to put somebody in charge of the show staff to ensure everybody shows up on time and ready to work. Set work hours and add curfews to ensure your brand is represented properly.
These are five of the most common reasons exhibitors go over budget when planning for a tradeshow. Make sure you don't make these mistakes and you will have a much better chance to stay on budget with your next show.
Contact Nimlok NYC and let us help you avoid these costly mistakes today!