The amount to allocate to your tradeshow budget correlates to the scope of your efforts and the number, size, and location of shows you are planning to attend in a given year.
While exhibiting strategies vary significantly from one company to the next, the budgeting process is relatively similar and includes the following expense categories.
Marketing Before, During & After Shows
Creating a strategy to support tradeshow success requires extensive planning and a comprehensive marketing approach designed to drive traffic to your booth, convert prospects to buyers, and drive sales.
For more on trade show planning and marketing, click on these links:
Exhibit Hall Space Rental
The size of your display will dictate the amount of space you need to rent and, in turn, the dollars you need to allocate to booth space rental. To help with your budget planning, check with event coordinators to determine rental fees.
Utilities and Relateds Booth Expenses
This includes costs you may need to incur to have your trade show booth installed and dismantled (if you are not doing it yourself) and to cover any electricity, gas, water, and other related expenses that you may need at your booth.
Exhibit Display, Signage and Accessories
Everything from display production, graphics, and banners to booth furniture, literature racks and demonstration equipment need to be calculated for your show budget.
You may also include crating and storage costs in this category so you have a complete picture of your total exhibit-related costs.
Shipping and Drayage
Include in your budget all expenses associated with transporting your exhibit and materials to each location. This involves a two-step cost allocation.
Travel and Entertainment Costs
Forecast the transportation, meals and lodging costs for you and your staff to attend each trade show. In addition, add to your tradeshow budget any costs you may incur for entertaining prospects and customers during the show to help build relationships and solidify sales.
Trade show participation can be a highly effective strategy in your marketing mix. It can also be a costly one if not budgeted, planned and managed appropriately. Click here for more information: How to Budget for Tradeshows and see the articles listed below.