Publicity through exhibits is one of the most effective ways of improving the brand’s image in the market but it is somewhat costly. Moreover, an extensive variety of exhibit stands are available to the exhibitors, which makes them overwhelmed about what to select, based on their budget and brand requirements. Ideally, if you target the stand with high involvement, you have to pay higher exhibition stand costs. Mere spending a huge amount is again not a successful strategy for the trade show. Getting the most value for your trade show booth design while on a trade show should be well implemented by considering the following factors.
Now let us discuss some of the best measures that you can take to reduce the exhibition cost.
Set Goals
First and foremost, it is necessary to decide as accurately as possible what results you expect to get after visiting an exhibition. What are your goals when employing this advertising technique? Is it to announce a new product or service, to popularize the company’s brand, or to generate customer leads? One can also set numerical targets for that. Remember that your goals set will influence every part of the budget of your trade show.
Fix the Budget
You should know the amounts which you are in a position to use and how exactly you want to spend the money. A fixed budget provides a strong financial control that makes the organization avoid ‘ropy’ expenditures and contributes to sound decision-making. Some of the anticipated costs could consist of the following; booth hire, designing of the booth and other related peripherals, transport, staff, technical requirements to display, and fliers for trade shows. Spend the cost in the order of importance or importance of the cost or talk to your exhibition stand builder.
Planning has been stated as an effective way of saving more money
Every trade show event will let you know that there’s always a limitation to the amount of money you can save if you book early, and this may help you to save a few hundred or thousands of dollars on the overall trade show booth design price. If the event that you are to attend is in another city or province, you can also save on hotel bills and fares if they are booked earlier in advance.
To summarize, it is said that early bird catches the worm and it is also true as far as preparing for a trade show is concerned. Generally, all the people who organize events are very fast in getting exhibitors right after the event has been advertised and named, charges and other assets, therefore, have to be negotiated at this point.
Booth Size
You can also reduce the size of your booth or else divide it with any other Firm. If you are offering small products then large booths to display your products are of no use to you. For the large products also there is the option of having smaller booths and you can display your product there. Such can be quite effective in dealing with the problem of high exhibition stand cost. First, most of the booths are small so this creates a more personal, in-depth experience for the audience member. This is advantageous especially if the company that you share the booth with has complementary products hence translating to a strategic move.
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Promotion Strategy to Save on Exhibition Stand Cost
In this article, we also established the fact that promotion need not be costly for an organization while at the same time being effective. First, you can use free social media outreach to share the word on the trade show you will be attending. Get in touch with people who can endorse your booth in a bid to get them to partner with you. Another idea for the revival of interest is to use email as a form of marketing and address your loyal audience with unforeseen promotions or sneak peek into the range of products. Besides, use durable resources which reduce expenditure in the future, but which can be recycled and of better quality.
Rental Display
Thus, renting has been viewed as more advantageous than buying an exhibit stand. At the same less investment, also permits more possibilities in design. Like in renting, there are no expenses for logistics, transportation, and storage, and that money is also saved and can be spent on different important aspects.
Market Digitally
Marketing online to effectively cut down the Exhibition stand design cost through the utilization of web applications in advertising and lead acquisition. Leads before the show must be promoted on social media platforms, via emails, seminars, and other things, which are online. Such an approach helps to substantially reduce the expenses for physical advertisement and printed materials and contributes to the audience-building process. If integration of the digital tactics is done well, booth presence is achievable and general costs can easily be regulated.
In-House Staff
Acquire In-house staff will help you avoid the price of having a freelancer who may be paid 50$ per hour. If necessary before the show make sure your team is aware of your newly launched product or services and also improve the team in terms of sales and even engagement.
In conclusion, all these aspects are beneficial in helping you to reduce your exhibition stand cost which means you should hire a skilled exhibition stand contractor who will well implement these techniques.