Exhibiting Success: How will a budget save you money?
382 words 2:00 mins
How having a budget will save you money?
I’d quite understand if some of you want to miss this section altogether, talking about money can be awkward but I urge you not to miss it out. The more time you spend preparing your budget, one that is based on the goals you’ve set for the show, the easier it will be to cut costs without drawing blood, and the more successful your exhibit will be.
The first question to ask yourself is where is the money coming from for your exhibiting opportunity?
Is the money already set aside in your marketing budget or is this an unexpected opportunity? Either way you need to be very careful that you don’t spend money you don’t have. A mistake some exhibitors make is to be at entirely at the wrong show. To avoid wasting money you need to be as certain as you can be that you’re attending the right show, in front of the right audience, in the right place, and at the right time. Because if you aren’t, the results could have a devastating effect on your return on investment, your brand and your reputation.
The second question to ask is, are there any extra costs after booking? Things like stand signage, electricity, or tables. These are vital questions to ask BEFORE you book. It’s also vital to keep to any deadlines that they give you, because if you order late, and I know from personal experience, late booking penalties can be HUGE!
Also, you’ll need to consider things like:
Staff Costs, are you factoring in both yours and your staffs hourly rate? How much will you allow for meals, coffee alone can be very expensive? What about travel costs and car parking fees?
Marketing and promotional materials, and this is where you make your printer really happy! You order more than you need, you give away less than you thought, and you throw away the rest.
How much have you allowed for your stand design? I know just how exciting this can be, you rush straight in, and start designing before you’ve even set your goals. Abortive stand design costs quickly mount up – and ineffective messages, graphics and slogan that don’t attract your ideal customers and clients can cost thousands of pounds without any return on investment.
One thing is for sure, there’ll always of unexpected costs at exhibitions.
Do you know what yours are?