How much do companies spend on trade shows
The amount of money you set aside for a trade show should be three times as much as what you expect to spend on the display itself. The cost of a square foot of floor space is between $100 and $150 on average. It will cost around $14,000 to rent a 10x10 booth area, for a total budget of $42,000. Extra-large 2020 spots may go up to $20, for a total investment of $60,000. In other words, a trade exhibition costs something in the range of $40,000 to $60,000.That’s a lot of money!
Where do you have to spend the money?
It's a good idea to break down you’re spending into categories so that you can see where your money is being spent. Attending a trade show has four primary costs:
Space Rent
Both the display and booth space rental fees are included here. The more space you use, the more money you'll have to spend.
Brand Awareness
Branded swag should be included in your marketing budget to keep visitors engaged and help them remember your company's name.
Minor services & Material cost
Services like materials/handling, energy, Wi-Fi, and anything else you'll need to operate your show are all included in this package.
Employees’ expenses
The costs of sending employees on the trip, such as lodging, plane travel, and food, are included in your personnel expenditures.
Costs of Attending a Trade Show
The most frequent trade show expenditures and how much exhibitors should spend on them are summarized in this infographic created by Exhibitor Magazine. Percentages are a good way to visualize things.
The cost of renting booth space (35 percent) varies from venue to venue. Organize your events early to take advantage of lower prices. The expense of sending your personnel to trade exhibitions, including travel, hotel accommodations, meals, and other forms of transportation, accounts for 14% of the total. Electricity, internet service, and even vacuuming are all included in display services, which we already discussed.
Because of lightweight materials, movable displays, and rental options, exhibit design costs decreased over the last several decades. There is a constant fluctuation in shipping costs, on the other hand. By getting in touch with your exhibitor, you may be able to get a better deal on shipping your show materials.
What does digital promotion cost you?
There are certain advantages and disadvantages to working digitally, but it still takes time and costs money. Seven percent of your budget should be allocated to other costs, such as promotional items, lead tracking software, and so on. It's clear that trade exhibitions are a significant financial commitment. People attend these events because they know they'll get more bang for their buck by exhibiting stand there. Maintain enough supply of promotional goods to aid in the favorable recall of your company name.
Budget is the most crucial factor in planning an event. Many guests have paid a lot of money to attend an event, only to be disappointed when the service they paid for was subpar. In order to do so, you may have a conversation and a live calculation about your occasion. For this reason, you may save money and receive the best service at the same time.
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