Trade shows can be a great investment and opportunity for branding and meeting qualified decision makers. Although the benefits of a trade show are easy to point out, there are undoubtedly a lot of costs that go into planning and executing a successful trade show. The costs of a trade show often scare businesses away from the opportunity, but there are a plethora of ways to save and still run an efficient and successful show.
Getting the Word Out
Advertising your event is an essential part of your trade show execution. You want to get the word out in order to drive as much traffic to your event as possible. Now, there are countless ways that you can advertise and they range tremendously in cost. If you're looking to save, one of the best options is to use social media and your existing networks.
If you have a following on Facebook, Twitter, Instagram, or any social media platform, those are all great channels to spread your message. You can either post for free or choose to allocate a small budget to reach an even larger audience outside of your followers.
If you have a database of email addresses, sending out an email newsletter is also a very affordable and effective way to get people's attention. Letting your contacts know about what they can expect at the show as far as offers, discounts or giveaways is a great way to increase attendance. Combining an email newsletter with social media by encouraging people to "share" for additional promotions could go a long way as well.
Another great way to get the word out is to take advantage of the complimentary mediums that the show is offering for the exhibitors. Often times they will offer exhibitors space on their website, magazines, press releases and more. The key is to stay informed and to take advantage of all the opportunities that are given to drive traffic to your booth.
Exhibit Materials
It's no secret that the best looking booths generally attract the most attention and therefore the most traffic. This is generally the portion of your budget that goes the quickest, but if you do your research, you can spruce up your booth for an affordable price and still look great. Tradeshow Display Pros offers the widest selection of displays from inexpensive to elaborate to fit any price range and display need.
It's important to consider materials like banner stands, table top displays, etc. as long-term investments. Keep in mind that you can reuse these materials at future shows or even as point of sale pieces. Try to leave out show/date specific content that will outdate the material for alternative uses.
Handouts and Brochures
Having marketing materials or brochures to hand out to trade show attendees can be one of the largest costs you encounter during a trade show and the majority of them will end up in the trash. A great way to save in this area is to take advantage of ever increasing and reliable technology and go paperless! Create a digital brochure and ask for people's email addresses. Not only are you getting them a copy of what they want, but you're also gaining valuable contact information which will allow you to follow up after the show.
Booth Staff
Securing a booth for the show can be quite expensive just in itself. That being said, you want to send the right team to make the event as successful as possible. Sending a low energy staff that sits in the corner of the booth the whole time will surely backfire and yield and unsuccessful event. On the other hand, if you're able to send an outgoing crew that understands the goals of the show and the long and short term benefits of the investment, your money will be well spent.
Observe the Competition and the Industry
Keep in mind that to stand out at a trade show, you really only need to look better than the other exhibitors. In some industries, having a custom table cover and banner stand would make you stand out among the competition, where others might require a much more elaborate display. Spending too little on your display can cost you traffic, but spending too much can be a waste of your budget that could have been used to help pay for the other collateral materials you’ll need at the show.
In summary, there are so many ways to save money when planning a trade show event. The key to all of it is getting a head start and doing all of your research. If you put off your planning until the last minute, you'll end up paying top dollar for everything and most likely end up being unprepared all together. Starting to plan your trade show 12 months prior to the event isn't unheard of and is generally the major key to success.