If you are currently working within a budget, you can still impress attendees who visit your display by renting your booth. This type of option is especially prudent if you generally attend a show or two per year, and if your booth space is larger.
When you are planning for a trade show event, you also need to review all the costs, not just the expense of the booth. Even if you to want to match your competitors’ displays, the cost may be restrictive.
Making a Decision to Rent or Purchase
When you are reviewing the costs for a trade show event, they can add up quickly. For example, the booth space in and of itself can run as much as AUD $12,000 for a space that is 20 x 20. Other necessary costs such as literature, marketing, and travel can also drive the bill up to a total cost of AUD $20,000.
At this point in your calculations, you have already spent AUD $20,000. If the booth you rent costs $30,000, you must make sure that your ROI will provide you with a lead generation that equals $50,000. This calculation covers renting a booth and exhibit space yearly as well as writing off the total expense.
However, if you find that your display and presence at a trade show is producing more of an impact, you may want to consider buying a custom booth. By making this choice, you will ultimately lower budgetary costs over time.
Once you have determined your budget and exhibit requirements, you can plan accordingly. Planning involves prioritising trade show participation and scaling the booth you will need for each show. You also need to assess your exhibit prerequisites. Review your rental options and the deadlines for each show.
In addition, you need to prioritise the booth space for the shows that will have the greatest impact on your business. This is where you want to look at your competitors’ influence. If you want to stand out from the competition, you need to make sure your exhibit closely matches the other booths in both looks and appeal.
However, if you cannot afford to choose a customised booth, you can still make the needed statement with a rental display or a booth that has been configured for a particular show. Renting a booth also makes budgeting easier as you can determine the initial costs.
This type of display is featured as a bundled package. The package includes the design of the display, the necessary hardware, customised graphics, installation, breakdown, and the cost of freight.
Review the Trade Show Guidelines
While some shows enable you to actively engage with your audience, other shows are not so lenient. So before you sign on board with a show, make sure you can highlight your products and services in the best possible way.
If you read the exhibitor’s guidelines, you will be able to determine if you are on the same page as the trade show organiser. Also be aware that some reservations for spaces must be booked several months in advance.
In addition to these requirements, you need to employ the right people to work each show event. This type of process is important to your profitability. Therefore, it cannot happen overnight or in one or two weeks. Keep your focus on the design of the booth, the cost, and the trade show’s requirements.