For those who are looking to participate in an expo or trade show, but do not want to go over their budget, here is a look at some tips to stay within a reasonable price range for trade show expenses:
1. Identify your Purpose
The best way to economically participate in a trade show is to “have a deep understanding of why you are attending the event” in the first place. This means understanding the industry related to your business, the target market for your products and the impact you hope to make through the trade show. This will give you an idea if it is necessary to spend $500 or $1000 on marketing and promotional products for the expo or trade show.
Trade show are not only a great way to engage with customers, but they can help you understand what the competition is offering. They are also a fantastic networking opportunity. It is not always necessary to spend a huge amount of money on marketing and promotion to get success from a trade show or expo.
It is incredible how much money you can “save with the right plan”. Have a marketing plan in place that pins down how much money you will spend on each aspect of the trade show. For example, the budget should include travel expenses, promotional products, free giveaways, booth displays and miscellaneous expenses. And do not forget to register for the trade show as early as possible. Not only will this give you a better booth spot, but it will save money on the registration fees.
While it may seem counterproductive to ”ave money through giveaways”, it is a really good way to promote the business on a budget. Some of these giveaways can include free samples of company products or new items you are launching. But most of the items you will give away are limited to cheap promotional products such as stress balls, t-shirts, and pens with the company logo and colors.
Have a detailed plan for the event. This means looking at the list of businesses that are attending, highlighting possible networking opportunities and laying out a clear plan of what you want to achieve. For example, a company might want to have detailed conversations with 50 potential customers about their products, along with networking with at least 10 potential clients.
5. Promote your Attendance
It is not enough to just attend an expo or trade show. The most important thing you can do is to “encourage your attendance” because this gives enthusiasts a chance to come and see your products first-hand. Promotion is done through flyers, newspaper ads, social media marketing, and other avenues.