Category: Exhibition Stands
Exhibition marketing is one of the most invaluable tools in the marketing mix. In fact, according to the Center for Exhibition Industry Research, 99 percent of marketers believe B2B exhibitions offer a unique value not provided by other channels, and exhibitions take up close to 40 percent of total marketing budgets.
However, before you can actually set your exhibition marketing budget, you need to consider the various different aspects that go into exhibiting. To help out, we have compiled an essential budget checklist for exhibition stands and services, so that you avoid being caught out by any unanticipated costs.
1. Exhibiting Space
The first cost you need to consider is rental of exhibition space at an event. According to Nimlok, the average exhibition space allocated to marketers is 100 square feet, although depending on your plans and goals, you may need more or less than this and exhibiting space may take up a significant amount of your total budget.
2. Stand Design
Next, you need to think about the different types of exhibition stands and the various design elements you want. The most popular options are modular exhibition stands, which are cost-effective, reusable and easy to set up. However, if you want to pack a bigger punch, you may need to pay more for a custom built stand.
3. Exhibition Services
Another important consideration is the various exhibition services you require. This includes everything from installation and dismantling crews, to storage of your exhibition stand. You may also need to think about the cost of Wi-Fi access, while Express Displays point out the need to consider things like power and lighting.
4. Equipment Transportation
In addition to the cost of the stand and associated services, you also need to actually get all of the equipment to the location. As a result, you will need to factor in the cost of transport to and from the venue. Typically, it will cost less to transport pop up or modular exhibition stands, compared to custom stands.
5. Staff Costs
The next budgetary consideration involves the staff who will actually work at your stand or booth. How many staff are you taking? What are you paying them? Are you providing food and drink? Do they need accommodation? Of course, you also need to consider how your staff are getting there. Remember to factor in journeys both ways.
6. Pre-Event Marketing
Approximately 70 percent of trade show attendees plan a list of the booths they wish to visit in advance, which highlights the importance of pre-event marketing. You will need to allocate money towards these efforts, so that you can reach out to people via social media, traditional advertising in trade publications, etc.
7. Handouts and Literature
Not all marketing efforts will take place ahead of the event, however, so another budgetary consideration should be handouts like leaflets, business cards, catalogues and other literature. Furthermore, you may also wish to give out samples of some of your products, so that attendees can try before they buy.
8. Additional Costs
Finally, it is worth setting aside some money for any additional costs which may arise. Things to consider may include the cost of cleaning, the cost of dealing with any waste removal and funds to cover any emergency staffing needs. As a general rule, a contingency fund of around 5 percent of your total budget is sensible.
Posted 20th December, 2017< Back to articles