In an increasingly competitive business environment organizations are constantly looking for smart ways to stretch Expo budgets, without jeopardizing performance. Marketers make continual efforts to create better engagement and drive sales without having to spend big money. Making small changes to Expo budgeting will not only help save costs but also deliver a sizeable return on investment.
In fact, 70% of Expo expenses can be effectively managed if planned carefully. Start by listing down cost heads for coordinating Expos. Then plan in advance to avail special deals and offers and to avoid hidden costs that crop up on last minute requests. Register at the earliest and avail of early-bird prices that organizers might be offering – including free services that may only be available on a first-come-first-serve basis. Travel and accommodation costs too can be reduced through advance planning by availing deals for travellers who book early.
Next, map out booth display strategy as this is a key factor in budgeting. According to the Trade Show Institute, over 40% of the entire Expo budget is used for exhibit space and design*. One way to reduce costs is to plan modular display units which can be reconfigured. Build a base booth which can be reused when needed by simply making changes to design elements. This helps keep booth production expenses in control. Put creative minds to work and subject existing units to a makeover instead of purchasing new displays.
Ask suppliers to list costs of available materials, and be aware of the pros and cons of each option. A flimsy high-gloss graphics panel, for example, might look good, but a sturdy, matte version could save replacement and repair costs down the road. Booth designs should also be lightweight to minimize transportation costs.
Once the booth is budgeted for, plan marketing collateral and aim to go paperless. Today’s consumers are technologically savvy, and prefer to be able to scan signage so they don’t end up with stacks of information brochures after the show.
Move to an online show management system like DazzleToday. This helps Expo managers work more efficiently by providing online resources to coordinate processes, maintain exhibit inventory and undertake marketing communication which otherwise would be contracted out third-party agencies. Online capabilities yield considerable savings of time and money in the long run.
Once you’ve economized by careful planning, make sure to get better returns on investments by following up with prospects immediately. Make sure customers know you attended the show by implementing a comprehensive marketing strategy to deliver timely communication.
Balancing an Expo budget is one the major challenges exhibitor face. However, smart thinking and careful planning, makes it possible to put together an attractive display and a successful Expo; even perhaps creating effective templates for future events. Finally, remember to compare past events to present ones and see where the dollar can be stretched for better costs-savings.
Don’t forget to share on Whatsapp! about
“Shave off as much as 15% from Expo budgets with these smart tips “