Establishing a Budget for Trade Shows
Establish a Realistic Budget
Where’s my money going? Money is precious these days and you will spend a lot of it exhibiting at a trade show. A generous portion of your budget—approximately 30%—should be devoted to expenditures that will help promote your product or service (exhibit components, graphics, advertising, etc.). The rest of your money will go towards:
- Floor space at the show—app. 33%
- Travel accommodations—app. 18%
- Services (shipping, installation/dismantle & drayage)—app. 12%
- Misc. (A/V equipment, decoration, extra labor, etc.)—app. 7%
Some exhibit houses include basic services in their initial estimates; some do not. Likewise, some exhibit houses include the cost of graphics in their initial estimates—others don’t. These estimates include graphics, carpeting and all necessary exhibit components. Service and miscellaneous costs are additional and can vary significantly, depending on the show’s location, size of your space and labor regulations specific to the venue. We will, however, make you aware of these costs up front. Keep your primary objective in mind when deciding on where to place your money. You’ll want to invest in things that offer a return on your investment:
WILL promote my product /offer a return on investment
- A business lunch with potential buyers
- Informative CDs or attractive literature
- An innovative, strategically-designed exhibit
WON’T promote my product /offer a return on investment
- A whirlpool suite at a Five-Star hotel
- Giveaways that don’t represent our product
- An archaic display I’ll set up with my brother-in-law
How can I keep track of all my expenses and avoid surprises? Ask questions and create a spreadsheet. Establish a list of costs you know you’ll incur (see above). Record pre-show estimates, actual costs and any additional expenses. Reference the information when planning your next exhibition. Check out how to be an award winning exhibitor.