Posts Tagged ‘trade show budget’

Cut Trade Show Costs

Posted on: December 2nd, 2015 by admin No Comments

Cut trade show costs

The recession might be behind us, yet companies and individuals alike are watching their money better than ever before. It is common knowledge that the first two budget cuts a company will make under financial pressure are marketing and training. It is no coincidence that trade shows are exactly that, marketing and training. When you consider the cost of exhibit space, payroll, flights etc., the cost of participating in a trade show can quickly become enormous. With the opportunity of great success, many companies spend their entire year’s marketing budget on exhibiting at just one trade show.

In today’s article we’ll discuss some ways to control your costs while exhibiting at a trade show.12448572_s

Rent Your Booth

Gone are the days when you could exhibit at a trade show with only a banner and a table for brochures. Today’s trade shows demand exquisitely designed booths, booths that can cost tens of thousands of dollars to design and construct. If your company only plans to attend one or two shows annually, renting a pre-constructed trade show booth is a great option. You’ll pay a fraction of the cost to build if you rent. The only additional investment you’ll need to make is customized signage. You’ll also be free of many associated costs including long term storage, shipping fees and insurance. Also, if your company is located a significant distance from where the trade show will be, consider renting a booth from a company local to the show, not local to your business.

Buying A Used Exhibit

If you’re company plans to exhibit at more than one show per year, it might be in your best interest to invest in a pre-owned booth. Large corporations often use a booth a handful of times and then sell them back to the company who built them. The trade show booth company in turn sells these booths at a fraction of the original cost. Trade show booth companies will charge you a nominal fee to remove prior branding and replace with yours. A quick internet search will display many trade show booth companies that specialize in pre-owned booths.

Hire local staffing

Travel expenses can add up very quickly. Flights, hotels, meals and taxis for more than two or three people can easily consume an entire budget. It may not always be necessary to fly your entire team to a trade show. If you’re looking to control staffing costs, consider contracting with a staffing or modeling agency local to where your trade show will be. Many of these companies have rosters of people who specialize in sales and promotions for all types of marketing events. In this scenario, you’ll need to consider a training session before the launch of the show. It’s important that your temporary staff can speak to your product and represent your company well.

About the author: William Hall is a seasoned business coach specializing in branding, social media and promotional events. William has spent his career teaching businesses of all sizes how to stand out in the crowd while using marketing dollars most effectively. His clients are continuously thankful for his out-of-the-box ideas that lead to increased revenue, more clicks and a bigger online presence.

Better Trade Show Demonstrations

Posted on: November 11th, 2015 by admin No Comments

As we discuss often, every second counts when exhibiting at a trade show. It all boils down to one thing: Better trade show demonstrations. The method you use to demonstrate your product at a trade show has a significant impact on the success of your exhibit. Customers love to be educated. You have a much better chance of closing the sale if your customer feels educated on your product. Featuring a product specialist at your trade show booth with a great attitude, sparkling smile and some old fashioned carisma is always a great start. Here are some other great tips to a stellar product demo:

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Utilize the five senses of your customers, this creates an emotional connection to the product.  Does your product move? Does it light up? Does it have sounds? Can people interact with your product? If so, make it do so! It’s imperative to check with the trade show producers to ensure your booth will be fitted with necessary utilities such as electricity; in the event that your product requires charging or an electrical outlet to function. Do you have multiple products? Be sure to have multiple sales representatives actively showing each product at the booth. Look how quickly you can create buzz!

If you’ve ever been to a trade show, you know there is a lot to see. Combine all of this stimulation with the short attention span of humans, you may only have a few minutes (probably just a few seconds) to complete the demonstration process. Before the show, brainstorm with your team and create a 30-60 second script for each product. Use the F.A.B.C.E. product demonstration method to convey important information during your customer interaction:

 

F: Feature of the product.

A: Advantage of the feature.

B: Benefit of the advantage

C: Custom reason the product is great for the customer

E: Emotional statement about why you love the product.

“This is our newest theft deterrent carry on luggage piece. We designed it with a new fingerprint scanner.   This extra layer of security will keep your contents safer than ever before. The new model comes in three different colors to fit your personality! I love this newest addition to our luggage line because it’s modern looking and features the latest security technology.”

About the author: William Hall is a seasoned business coach specializing in branding, social media and promotional events. William has spent his career teaching businesses of all sizes how to stand out in the crowd while using marketing dollars most effectively. His clients are continuously thankful for his out-of-the-box ideas that lead to increased revenue, more clicks and a bigger online presence.

Making The Most Of Your Trade Show Budget

Posted on: August 6th, 2008 by admin No Comments

Event marketing has become increasingly expensive over the past several years. The costs of renting space, designing attractive displays and hiring motivated staff for your booths can give any new trade show marketer pause. But, event marketing continues to be a potent source of profitable business for myself and my clients.

The key is to create a trade show budget that allows you enough flexibility to leverage your strengths while keeping your expenses under control. Today, I’ll explain how to plan your budget with the proper focus on lead follow-up and conversions.

Plan Your Expenses

The first step in creating your budget for the event is to identify the most significant expenses. In my experience, the majority of your budget will be spent on exhibit space, booth rental fees, employees and the costs associated with your displays. That includes registration fees, design and production costs of your displays and staff training.

If the trade show is a multi-day event, you’ll need to budget for accommodations for yourself and your staff. Other expenses that you should plan for include shipping costs, insurance, various services provided by the venue (A/V equipment, security, etc.), and printing costs for the literature you’ll have at your booth.

Focus On Conversions

It’s easy to look at your trade show budget and feel overwhelmed. Especially as the expenses swell. That’s why you need to focus on converting as many targeted leads into customers as possible. Your conversion rate will be largely determined by how effective your follow-up process is. I’ve provided good advice about this in a recent post. While attracting visitors to your trade show booth is important, your follow-up strategy can make or break your event marketing efforts.

It’s essential that you train your staff to qualify prospects. They need to identify their needs in order to follow up and convert them into customers. If you’re spending thousands of dollars on each trade show, you must make sure that your conversion process makes your efforts worthwhile.

Spending Money For Long-Term Profits

Profitable trade show marketing is part science and part art. You need to meticulously plan your event budget. And you need to diligently take action on the strategies and tactics I’m sharing with you to leverage your success. It’s practically impossible to succeed in event marketing without allocating at least a small budget.

The secret is to squeeze as much profit as you can from the money you spend. First, drive traffic to your trade show booth. Then, train your staff to qualify leads. Finally, implement a follow-up procedure that converts those leads into paying customers. That’s how you make the most of your trade show budget.













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