Question: What do trade show veterans and a novice exhibitor have in common?
Answer: Budgeting Challenge
Let’s accept it, planning and setting up a budget is indeed tricky! From veteran exhibitors to beginners, all of us are caught in the trap of a budget. With a never-ending list to fit in and the fact that an event’s financial foundation is proportionate to its outcome makes the situation even scarier! But don’t worry we are here to help.
Below mentioned are a few major areas of expenses that needs to be strategist upon well to derive better outcomes for your next trade show booth rental in Orlando:
Set defined goals and objectives
every time one exhibits they have pre-defined goals and objectives, which they wish to achieve via this exhibition. These goals and objectives have a major role to play when you select your booth type, size, and design. And all of these have a role to play in your trade show budget. Having a clear idea of your exhibition needs is of vital importance because this way you are able to discuss the details and expectations with your trade show booth provider for a better outcome.
Study historical data
data from past events acts as a great indicator of what worked previously and what dint. Hence this data is a great source for exhibitors to decide upon areas of improvement and areas of interest. Therefore, when you book your next trade show booth rental in Orlando consider points like; the number of registrations, number of participants, number of in-store sales, number of new business, etc. This way you can budget your expenses accordingly and make the most out of your tradeshow participation.
List your expenses
listing out the expenses is one of the very crucial points that help you budget your trade show better. Account for every part of potential expenses and keep a note, this will help you budget better. Here are a few key points to consider:
whether it is a virtual event or a physical one most of your allocated budget goes towards your platform provider. And since a lot of your budget is to be allocated here, see how best you can derive maximum benefits. Ask your platform provider questions like; “what are the features they provide in their package?” “can these tradeshows be customized?” etc. This way you can eliminate the non-reductant features and thereby cut down on cost!
Promotion and marketing
apart from platform provider another major area of expense is incurred in the promotion and marketing of the tradeshow. A large part of your budget is allocated here for creating brochures, banners, flyers, leaflets, social media hashtags, photo booths, email marketing, sending out invites, press releases, etc. And these promotional technique helps creates compelling results. Therefore, when you strategize it accordingly you can derive fascinating results.
last but not least another major expense head are goody bags. And since these goody bags are distributed amongst attendees they cannot be compromised upon. Upon distribution, they not only carry out a good brand recall but a positive and memorable experience that attendees cherish every time they come in contact with the item.
Having a basic framework to start with even before you start implementation is necessary to help you forecast your expenses better. Though the above mentioned are a few heads that need to be considered for careful budget planning there are plenty more. A well-planned budget will pave the way for a successful virtual event and we being veterans in the industry, our trade show booth rental in Orlando is a huge hit for we cater to all of your needs under one head!
Read Here – Tips for international exhibitors.