Trade show exhibitions can be very costly, especially for small business owners. But face-to-face introductions and interactions are an imperative part of recruiting new business. Exhibitions place your products directly into the hands of potential customers and business partners, and introduce you as a serious company.
A recent study by Display Wizard, an exhibition stand supplier, shows that the biggest concern of exhibitors is cost.
The good news, there are many ways to create a low-cost and successful trade show exhibit!
Research Protects Your Budget
It might sound a little obvious (maybe even trite), but research, proper planning, and time are your most valuable tools when it comes to producing a successful and cost-efficient trade show. First and foremost, research the venue and exhibition host.
Find out if the quality of the show is worth the time and money you’re about to invest. Consider the press coverage, advertising, and quality of attendees before making your decisions.
While it’s convenient to attend shows in your area, it’s likely worth the cost to travel to a show that offers better exposure to customers who are looking for your specific product. If you produce hypo-allergenic bedding, it won’t help to attend a nearby sporting goods exhibition.
You may have to travel to another state, or maybe even another country for an appropriate trade show. But it’s well worth it to connect yourself with the right demographic.
After all, the customers come first. If they don’t know you have a solution to the problem they need solving, they can’t become your next biggest fan.
Planning early will give you more options when it comes to traveling and hotel stays. Many travel sites promise hot last minute deals you can’t resist, but the window of opportunity to snag these deals closes very quickly.
You don’t ever want to get stuck having to take the last available flight or hotel room option. Popular trade show accommodations fill up fast! You may miss out completely or pay a hefty price for procrastination.
Get Yourself Some Prime Real Estate! (It’s worth it)
Researching the layout of the venue is very important when it comes to choosing your booth size and location. If you’ve never been to the venue, request a map of the layout and search for pictures online.
Many times, you’re not only paying for the amount of floor space you occupy, but the location as well. Booths that are located close to the entrance or gathering points will likely be on the pricier side of the scale.
Look for ways to maximize your space! If your product allows for it, build your displays upward, rather than outward.
The money you save on size can be put toward the location. It’s better to have a smaller booth in a high traffic area than a large booth where you’ll hardly be seen.
When purchasing an exhibition display, make sure to look into as many options as possible. Fabric displays are a wonderful choice, if you can use them. They’re inexpensive, durable and lightweight, which can save you money on shipping and drayage fees.
The best way to get to know a display booth is to hear what others are saying about it. Research reviews on different types of displays. Try to find the opinions of businesses that have products similar to yours.
You might consider renting your display if you don’t plan to exhibit much throughout the year. If you decide to purchase a display, make sure to calculate storage expenses. It’s often pricier to store your goods with the venue, but storing off-site generates transportation costs.
Promote Your Event, and People Will Come
Even though part of your exhibition fee is likely to include the cost of recruiting appropriate attendees, it never hurts to do your own promoting. Utilize your website and social media platforms to invite existing and potential customers to visit your booth.
The more customers recruited, the better!
Make sure to invite visitors well in advance, giving them plenty of time to plan their travels. Send an invitation reminder (or three) as the date approaches. Let people know the location of your booth, and the dates and times you will be at the show.
Always aim to have new product samples ready for an upcoming trade show and include a teaser in your invitation. Unveiling new products is a wonderful way create urgency and exclusivity!
One of the biggest benefits of exhibiting at a trade show is that your potential customers can hold the product in their hands, while they look you in the eyes and talk to you about it. That’s a powerful connection, and much different from considering a purchase on a website.
ROI (Return-on-Investment)
With plenty of avenues to stretch your advertising budget down, it’s important to save where you can and put your money toward purchases that promise a great Return on Investment.
Give yourself plenty of time to develop a complete list of materials and a concise budget for the exhibition. Contact the venue and find out which items on your list they provide and the costs. Then, research purchasing prices and shipping costs, if necessary.
If you’re planning to exhibit several times a year, it may be cheaper to purchase many reusable items, rather than rent. Even smaller purchases like trash cans, tablecloths, tape, extension cords, and surge protectors can save you money over time.
If you’re already shipping your display booth and other materials, these small items won’t add much to the shipping price. The venue will likely provide these smaller necessities in a pinch, but at what cost?
There’s no cap on desperation, and you don’t want to be at the mercy of an upcharge.
Purchasing carpet for your booth is great way to build your ROI. However, when searching for “exhibition carpet,” be wary. There are many variations in quality and features. Some event carpets are not intended for repeated use. They aren’t very durable and require frequent replacement.
Indoor/outdoor carpets are great reusable options! They often feature UV protection, mold and mildew resistance and a non-skid backing that makes the carpet much more resilient. The right carpet can be rolled, stored and reused many times.
If given enough time (again, planning ahead is key) indoor/outdoor carpets can be ordered in a wide variety of colors, sizes, or even designed with your company logo for a unique eye-catching booth! These carpets can also be used at company picnics and other events between trade shows, offering more bang for your buck.
Maximizing your ROI on materials comes down to two simple steps: purchase multi-use materials, and avoid using products provided by the exhibition venue whenever you can!
Power Your Booth (Most tech needs electricity)
Electricity supplied by the venue can be very costly. If you decide to go with it, make sure to minimize your needs by using tablets and other small electronic devices. Using battery operated lighting is a great way to reduce power usage.
Also, don’t estimate your power supply needs. Before purchasing power from a venue, connect your devices to a power meter for an accurate measurement of usage.
A portable battery pack or electric generator are also options to help reduce or eliminate the need for show-supplied electricity. They come with a vast variety of options, so give yourself plenty of time to research.
Although portable charging devices can be a costly investment up front, they can save you money over the course of a few exhibitions and can be used at many other company functions.
Small Business… Small Budget… BIG IMPACT
It’s hard for small or up-and-coming businesses to find room in the budget to splash flashy graphics all over their display booths. But there are absolutely other effective ways to get noticed and stay remembered.
When creating banners and posters for your exhibit, remember that readability is more important than glitz.
Use a bold, simplistic letter styling complemented by your company logo for your main banner. This will ensure your booth is seen and read clearly from across a buzzing exhibition center!
Eliminate detailed information, like the trade show title, booth number, and dates. This will make your banner reusable for your next exhibit and company events in between. If you want to incorporate show details, do so with a smaller poster that you don’t mind throwing away.
If you’re planning on handing out literature, try designing something that will stick with people when they leave your booth. Rather than using brochures to solely boast your logo and products, include some practical knowledge.
Let’s say your company produces products made of 100% recycled materials. Distribute literature that explains the importance of recycled products and their impact on the environment and economy.
Tell potential customers why your products are outstanding. This will keep you in their minds and on their lips. People love sharing knowledge!
Effective Giveaways
You don’t have to break the bank with giveaways, but don’t ever cut them out of your budget completely. Giveaways are one of the best ways to make sure you’re remembered.
Whenever possible, place one of your own products into the hands of potential customers.
If you’re marketing organic skin care products, a lip balm sample is ideal. It’s easy to carry, useful and likely a lower cost item from your product line.
If you’re marketing something larger, it can be difficult to find something in your product line to hand out to every visitor. If you’re marketing camping gear, sunglasses are a great giveaway option!
They’re practical, represent the outdoors and can be custom printed with your business information.
Pens are a good general choice, as they are lightweight and relatively inexpensive. Plus, attendees will likely use them on their journey through the show. Can’t argue with walking advertisement!
If you’re looking for something more unique, it’s important to find items that represent your company appropriately. And remember, keep your swag functional. This way potential customers will put them to frequent use and think of your company every time they do.
Keep your company in mind when choosing giveaways. What represents you and why do you stand out?
Don’t be afraid to put a little more money into your giveaways in order to purchase items that really exemplify your brand. It’s better than wasting the total cost on swag that no one wants to snag!
Gimme a Break! (Tax break, that is)
Many of the items you purchase for a trade show are tax deductible! Even some food and travel expenses. Take time to research which expenses are tax-deductible, and you’re on your way to guaranteed savings.
This will help you decide which materials are more beneficial to own, and which are simply more convenient to rent.
Remember, you can also donate items from the trade show that you purchase for their convenience, or are risky to store or ship between exhibitions. These donations can be tax write-offs.
Don’t forget to save receipts from all material purchases and purchases made during your trip!
Follow-up Before They Forget You
Make sure to reach out to every potential customer after the show. Don’t limit yourself to a phone call or one email.
Utilize your social media platforms to let them know how nice it was to meet them. Follow-up with digital catalogs or images of the products discussed.
Let them know you remember them personally and not as one of a hundred faces you saw during your exhibition.
No matter how much money you save on the overall cost of a trade show, your biggest reason for attending and your best bet for a plentiful ROI is acquiring new customers!
Recruit Good Helpers
If this is your first rodeo and you’re feeling overwhelmed, consider seeking the help of a professional trade show consultant. They may have contacts that you, as a small business owner, would not be able to reach.
A consultant should have vast knowledge of exhibition venues, different display styles, and can help guide you to the right choices for your individual needs. As someone frequently in the trade show scene, they may also be privy to special discounts and pricing. They can also offer an analysis of your exhibition success and ways to improve!
It’s true that expert trade show consultants are an added expense, but the stress they can alleviate might just be worth the cost of a learning experience. Once you get through your first exhibition with a consultant, you might know the ins and outs well enough to be efficient on your own the next go ‘round.
Attending a trade show can be a very large investment and stressful project, especially for small business owners, but the face time you get with potential customers is priceless.
While email and other web-based communications are fast and convenient, face-to-face interactions generate trust and understanding in new businesses relationships.
Shaking a hand or sharing a smile provides a real sense of character. Potential customers will be able to view the sincerity and passion behind your small business that will undoubtedly drive you to great success!