Booths, Not Bucks

Saving money and trade shows may seem like two things that don’t go together, but there are a number of little changes you can make that can add up to big bucks when all is said and done. If you’re feeling the pinch on your trade show budget and are being asked to examine your show expenditures and tighten your belt, here are 10 smart tips to strategically keep your expenses in line.

1. Plan, plan, plan.

Have a written plan that includes prioritized measurable objectives for sales, audience contact, branding and public relations. Then tactically work the plan at the show, find your weak points, plan to improve the next show and report back to management after the show.

2. Never make a budget cut where an attendee will see it.

Regardless of how much you have to pare out of your show budget, always keep in perspective that image is everything, and a tacky, outdated exhibit speaks volumes about your company.

3. Hit the show services discount deadlines.

Read the exhibitor services manual. Mark the discount deadlines and work your logistics plan to achieve the most cost savings. By ordering your services between 15 and 45 days prior to the show, you can save up to half on some services.

Additionally, avoid ordering on the show floor, where you’ll pay maximum rates.

4. Negotiate vendor discounts.

If you’re consistently using the same vendors, set up an account. Ask for volume discounts. Ask for longer payment terms. Ask for package deals. If you don’t ask, you’ll never get.

5. Choose your shows carefully.

You want to be where your “perfect prospect” goes. Do your homework on what shows your current clients attend, poll your sales force for their recommendations, work with show management to understand attendee demographics and check out the events section of your competitors’ websites to see where they’re going.

6. Determine how much space you really need.

You’ve always had a 30-foot by 30-foot space. But could you reduce to a 20-foot by 30-foot with better planning of your exhibit space? You’ll never know until you try. Direct costs of shipping, drayage, electrical, labor and personnel costs rise exponentially as your exhibit space gets larger.

7. Compare the cost and benefit of big and small shows.

Consider the disparity in costs of exhibiting at large horizontal industry shows versus smaller, vertical or niche shows. Do you really need to pay the higher space prices at a huge horizontal show to try to reach the 1,000 perfect prospects who are truly interested in your product out of the 50,000 suspects attending the show?

8. Watch out for the ‘budget killers’: rush charges.

Whether it’s missing the cutoff date for printing new graphics, shipping overnight or buying airline tickets at the last minute, rush charges will kill your budget. Have a timeline that points out the drop-dead dates to watch.

9. Audit your post-show bill.

There’s gold in them thar bills! Never sign off of your final bill from the show’s general and exclusive contractors without comparing them to your records. When in doubt, ask them to produce backup for their charges. As they say…pobody’s nerfect and we all make mistakes!

10. Know your spending habits and track your spending.

It’s amazing the number of times you’ll be over-billed or even double-billed for the same service. Set up a spreadsheet to track your deposits, payments, and expenses in the areas of space, exhibit property, exhibit transportation, show services, lead management, promotion, personnel expenses and contingency monies for last-minute surprises.

Finally, remember that your vendor partners are a critical part of coming in on budget, so when strategizing how to spend your trade show dollars wisely, make sure to work with a smart, experienced, cost-efficient exhibit solutions provider.