Have you ever been to a show?
If you have, the one thing you need to know is the costs involved in the design of the exciting exhibition booths. Every brand wishes to see the show best, but most exhibitors are hesitant because of budgetary constraints. Yes, you may think that exhibition marketing is a costly task, as things range from ideas for exhibition stands to the management of the event’s logistics.
Show costs should be seen as an investment instead of as cost. But it is not worth investing a lot of money in stands that do not yield a good return. Even cheap exhibition stands involving careful planning will benefit more than large exhibition stands that do not have adequate planning.
It is important to understand the factors that could influence your budget list to get the most out of the ROI for your budget exhibition stands and what cheap exhibition stands will be worth it.
Factors affecting your budget list
Budgeting does not only involve numbers filling the track sheet; it also involves good financial planning. Let’s just look at the elements that help build up your exhibition budget before you divide them. This reduces the headache of your exhibition budget planning process.
1. Company Budget
Budget for companies, first of all, knowing the basics of your budget for your company. For each exhibition company, this is the most important factor. Opting for cheap exhibition stands will prove to be a wise decision.
2. The goal of the exhibition
Planning the financial basis of an exhibition begins by outlining the objectives and marketing objectives of your company. Knowing clearly what you want to accomplish with exhibitions can help you to meet your show costs effectively. Your budget will change because you know what amount of audience you want to attract to the show. Investment wisely in the design company of an exhibition stand is essential to give your target audience the right impression.
You can begin to estimate the costs of your exhibition stand once you know about your budgeting process. A stand-in Europe is a better choice since it involves smaller investment and sufficient flexibility.
3. Estimate your exposure budget (Budget Break-down)
Making your budget for your exhibition can be an awful task. If your plan is correct, you can make a detailed budget bifurcation one of the key features needed for the show. Here are some of the recommendations we make.
4. Space of Exhibition
It is important not only for visibility but also the cost to find the right spot for your budget exhibition stand on the exhibition floor. The costs may vary depending on the size and location of the stand. Select a space that helps you achieve your goal. You could have shell arrangement space, which is less expensive if you have a budget constraint. For these variable stand prices, you can check the display manual or the manual, which are distributed by the show organisers. Assign 30% of your total budget to get the right space for your stand.
5. Booth Exhibit
The centrepiece of your exhibition marketing campaign is your exhibition stand. Based on the budget limits of your show and the goal you have for the exhibition, your stand design should take care to maximise your exhibition space and its impact on the participants. You could seek to rent a booth instead of buying a new one that saves your additional repair, renovation and storage expenses after the show. List all your exhibits’ features, such as accessories, lights and furnishings, etc.
(Installation and dismantling) Usually, service charges are 30% of your total budget.
6. Booth Stand Staff
Your stand requires a voice to speak for itself and your stand staff is your most effective marketing asset. You can speak for yourself. You will therefore have to budget for employee expenses. You need to consider the following, in addition to paying your staff for their time:
- Training of employees
- Transportation
- Overnight in the hotel
- Food
- Entertainment
It is important to invest in the right people because your company and brand will be representing the people at your booth. It, therefore, takes up approximately 20 per cent of your show budget.
7. Cost of shipping and Drayage
It can be a complicated affair to transport your stand. Your shipping costs vary, whether it is in the same country or an international show, according to where the event is located. The deadlines for transportation to and from the event are important to know. The shipping costs are taken into account according to your weight and the size of your stand. In addition, the maintenance, which sometimes exceeds, the drainage costs involving the unloading and handling of your booth from and to the event is necessary. It covers 10% of your total budget for the exhibition.
8. Spending On Advertising
The marketing of your events is another key part of the entire exhibition plan. Make sure you have the following in your promotional marketing:
- Marketing of social media
- Mail promotions
- Donations Gifts
- Technology incorporated (for Demo Sessions)
- Patronage
- Quizzes & Contests
The promotional activity must be done before, during and even after the event. So make sure that your budget allocates at least 5%.
Hopefully, this budget guide will help you plan your entire budget for the exhibition so you can start a great time.
