Marshall Yard:

By: Lauren Rickert

Trade shows are parades…in reverse. Your “float” is your exhibit—an integral cog in your well-oiled marketing machine. It’s essential that you understand the financial and logistical realities of the trade show industry if you’re to capitalize on this prime opportunity to market yourself, your organization and your product:

1) DEFINE MARKETING OBJECTIVES

2) ESTABLISH A REALISTIC BUDGET

3) RENT OR PURCHASE AN EXHIBIT—OUR PROCESS

Defining your Marketing Objectives

“We need to accomplish so many things at this show. What should I focus on first?   “Your primary objective at every trade show should be to promote your product or service. Are you introducing a new service? Putting a fresh twist on a familiar product? Promoting your product or service will consequently help you:– Secure or elevate your position in the industry;

– Attract potential buyers
– Enhance your relationships with existing buyers
– Strengthen or redefine the industry’s perception of your organization
– Invigorate market share

Establishing 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—approx. 33%  *average cost for floor space in the U.S. is about $22 / sq.ft.– Travel accommodations—approx. 18% – Services (shipping, installation/dismantle & drayage)—approx. 12%– Misc. (A/V equipment, decoration, extra labor, etc.)—approx. 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. Our custom rental exhibits tend to run about $50 / sq.ft. and our custom exhibits for purchase run about $150 / sq.ft. 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.

Catalyst’s Process  “I know my objective and I’m aware of my budget requirements. What now?      “ You need a tangible marketing tool—the quintessential catalyst for promoting your product or service. You need an exhibit. We offer custom rental exhibits and custom exhibits for purchase. Every project, regardless of size, is handled with professionalism, efficiency and respect for the client’s time and effort.You will first be referred to an Account Executive (AE). The AE will gather and communicate such information as:- Dates and location of the show;

- Rules and regulations specific to the venue
- Budgetary constraints
- Floor plans
- Images of your existing or past designs, if applicable
- Specific company information (corporate profile, logos, Website images, etc.) The AE then schedules an input meeting (via conference call or on-site meeting), during which you’ll have an opportunity to speak directly with the designer chosen for your project. The AE is also part of this meeting. You will communicate your specific design requirements, desired function of the space and marketing objectives. While we’re certainly interested in the logistical elements of your exhibit, a great deal of emphasis is placed on promoting your product or service. Ideal designs are created when we know why a client is exhibiting and what he or she hopes to achieve by doing so.The project then moves into the design phase. A team of professional designers, detailers and graphic artists work together to:- Translate your marketing objectives into functional exhibit elements;

- Design to accommodate attendee processing and product placement
- Create an image that reflects your corporate identity, industry characteristics and attracts your target audienceYou will be presented with full-color design renderings and an accompanying proposal about two weeks later. The proposal will contain a schedule of activities, itemized exhibit components and payment terms. The solution we present would ideally be the cat’s meow. However, we realize that sometimes modifications are necessary—your design will be flexible enough to accommodate any changes you might require.

F.A.Q.s“Which is more cost-effective, buying or renting an exhibit? “Custom rentals are best for organizations that:

· Exhibit at a few key shows/year
· Undergo regular marketing changes
· Readily introduce new product lines or services
· Vary in booth size for every showCustom exhibit purchases are most suited for organizations that:
· Have consistent marketing strategies
· Exhibit at multiple shows/year
· Can allow for long-term (approx. 5 yrs.) depreciation

“How can we measure our success at the show?”

- Invest in an electronic lead retrieving unit (available through show services)— scan attendees’ badges as they approach your booth

- Follow up with prospective buyers after the show

- Track post-show sales Survey any existing buyers who attended the show: what was their reaction to your exhibit? Did they feel welcomed? Informed? Did you communicate a clear message?“

I think I’m ready take the leap. Where should I start?” 

This entry was posted on Thursday, August 30th, 2007 at 7:51 pm and is filed under Advertising, Marketing, Tradeshow. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.