7 Tips Reduce Trade Show Expenses
Worried about the escalating trade show expenses? Read this post for 7 tips that can help you save more.
If planned and executed correctly, trade shows can generate impressive ROI and ROO. But the returns also significantly depend on your trade show cost. Thus, it makes sense for every event manager and exhibitor to look for ways to reduce their trade show expenses.
But how do you do that? Here are 7 tips that can help-
1-Start with a Trade Show Budget
Expenses often go out of hand when you don’t have a trade show budget. Start your trade show planning with a budget that includes all the expenses you can think of and divide them into categories.
How to categorize trade show expenses? Here’s an illustration that can help-
2-Start Exhibition Planning in Advance
The closer you're to the event, the more expensive everything will be. And I'm talking about the major expenses such as trade show booth rental costs, graphics, shipping, staff accommodation, and flight tickets.
[READ: Trade Show Planning Guide for Event Managers]
Start planning and budgeting for the trade show at least a few months in advance for some significant savings.
*Bonus Tip- Most event organizers offer early-bird discounts on booth space. Watch out for the discount date on the event website.
3-Rent the Exhibit Stand
While custom booths offer a host of advantages, they are expensive. The average exhibition stand costs in the US range from $150-$200 per square foot.
So, if a custom booth is not an absolute must according to your trade show marketing strategy, you can considerably reduce your budget by renting the exhibit stand.
4-Invest in the Right Trade Show Booth Activity
It is also essential to only invest in things that take you closer to your trade show objectives and generate positive ROI and ROO. For instance, booth trivia games are one of the best ways to attract visitors, collect leads, and boost brand awareness.
Finalize the objectives and carefully analyze the booth activity options to make the most of your trade show budget.
5-Rent vs. Purchase Exhibition Furnishings and Equipment
If the booth design includes a sitting area or LED displays, for example, you should think about whether you want to rent or purchase the furnishings and equipment.
Flat screens are now highly affordable, and you can also find furniture companies specializing in trade shows. In addition, furniture and other equipment can easily last for several years. So, even if you’ll be using these items in 4-5 events, purchasing can benefit your trade show budgeting in the longer run.
6- Order Trade Show Giveaways in Bulk
If you’re planning to offer customized giveaways or swag to the booth visitors, order them in bulk, at least for a year. Ordering these promotional items for each event will increase the trade show cost.
You can use the same strategy for printing your product literature. You also have the option to carry a color printer to the event and print literature as and when required. It’ll also help reduce the shipping costs.
7. Manage Trade Show Labor Efficiently
Union rules can significantly vary between trade shows. Higher than expected labor costs and other labor-related complications are common for event managers and exhibitors.
Ensure that you carefully read the event booklet to avoid any discrepancies. Try to schedule booth set-up and tear-down during regular working hours to avoid overtime charges.
Generating Impressive ROI with Reduced Trade Show Expenses
As trade shows cost thousands of dollars, it could be challenging to justify the expenses if things don’t work out as planned. So, be thorough with your event plan and follow these tips to reduce your trade show expenses, achieve business objectives, and generate impressive ROI.
You can contact us to learn more about booth trivia games and their vital role in boosting engagement.
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