There are many different elements that go into budgeting for a trade show. In order to maximize your event ROI, avoid falling victim to into these common mistakes.
Not setting clear objectives and ROI goals first
Far too many businesses go to trade shows with vague expectations of increased brand awareness and making new connections. However, when you fail to set clear and measurable objectives it’s impossible to evaluate the value you received for your show investment.
First, establish your specific trade show objectives as you begin the planning process. Then, you can create ROI targets for your objectives that will allow you to work backwards to develop tactics with a budget that empowers you to meet them.
Using a stock formula based on previous costs to estimate
It might seem like a good idea to go through the budgeting process as quickly as possible by simply taking last year’s costs and adding an arbitrary amount to it to create a budget for the next show. Every trade show is unique, and the potential costs need to be evaluated on their own terms so that you can create an effective budget that takes advantage of each show’s specific circumstances.
Failing to consider all services for the day of your event
For many exhibitors that are attending a show for the first time, underestimating the amount of trade show services for the day of your event can actually cause you to go over your budget. Trade show services, such as AV rentals, labor supervisors, installation, and storage should all be considered when you are mapping out your budget.
It can be easy to go over budget when you don’t have a clear understanding of all the in’s and out’s of trade show exhibiting. By working with an experienced trade show exhibit partner, you can eliminate the concern of unexpected costs because they will guide you through the key components of a successful event and take into account the costs that need to be factored into your budget.
No matter your trade show budget, Nimlok NYC can help you thrive at your next show with a quality trade show exhibit and event services. From concept to show floor, we’ll handle every aspect of your trade show exhibit so you can focus on making meaningful connections. Contact us today to learn more about our services and exhibit solutions.