One of the most important things to consider before creating a new trade show exhibition is the budget. You want to make sure the costs are justified and you receive the ROI you are seeking. It all starts with a complete discovery process, which looks into your requirements, needs, wants, likes and dislikes. Discovery will allow you to make a list of all of the things you need before you plug in a number to create a budget. Here are some of the things to consider while creating your trade show budget.
You will have the option to set up your new exhibition to fit with a specific floor space. Since most trade shows offer booths of similar sizes, you want to make sure you consider the size you plan to purchase at most shows. Most trade shows provide space in 10×10 blocks and give you the ability to purchase multiple blocks.
It’s also important to consider your products and your company. If you provide larger products, such as automobiles or airplane parts, you may need more floor space. However, if you provide a service or a smaller product, you may not need as much floor space for your exhibition.
Along with considering the floor space for your actual exhibition, you will need to include a section in the budget for travel. This section should include the following:
- Rental Cars
- Hotel Expenses
- Transportation – Cab rides, subway expenses, etc.
Make sure you include all of the different expenses you may incur when traveling to each trade show you plan to attend. You will also need to consider how many people will be traveling for each show.
The Actual Exhibition
Of course, the budget must include a section for your exhibition. This section will need to address any exhibit features, graphics, and customizations you desire. You will need to consider the type of materials used, whether you plan to own the exhibition or rent it, transportation to get the exhibition to the show, storage and any other fees associated with the exhibition.
If you need specific services, such as AV equipment, electrical outlets, rigging or anything else at the show, these expenses must be included in the budget. You want to make sure you have everything necessary to get the most out of your booth space and your exhibition. Add in any potential show services to your budget and you will be better prepared.
Giveaways and Marketing Materials
A section of your budget for promotional items and marketing will also need to be added. Whether you plan to send out mailers to customers and potential customers or you just plan to give something away at the show, you need to include this expense in your trade show budget.
As you go through the discovery process for your trade show budget, make sure you include anything you may need to spend money on for each show. Even if the expense isn’t very large, it should be added to the budget so that you will be working with the most accurate estimates without any major surprises.