8 line items of a trade show financial plan - sales-management
Budget Guidelines for Trade Show Marketing
B'techa didn't know - Trade shows are the back leading expenditure of corporate marketing dollars in the US. Only the field hawker costs a circle more.
How much of that money is wasted? Loads - if you don't know what you're doing and how to track it.
Clients often ask, "How much does it cost to do a trade show?" It can be a diminutive or a lot. Consider - a tabletop show at a Chamber of Exchange networking event will cost you drastically less than a 10-day worldwide event, but these EIGHT major apparatus are good guidelines in budgeting.
1. The Rent on your Space - The only continual in trade shows is the real estate -that piece of gray certain you rent. Some shows are priced by a flat fee. Most are priced according to a agree foot (sq. meter) accepted for the show. Generally, it's 10sq ft or 3sq meters (about 100 sq. feet). Prices will range from $10-$100/sq ft, or $1,000 to $10,000 per space. Check your calculations carefully.
2. On-floor Expenses - Whatever thing that requires labor or utilities for your exhibit. This includes all labor (i. e. - I&D installation and dismantling - to setup and tear-down your exhibit) and utilities - electricity, gas, water, compressed air, etc.
3. Your Exhibit, Graphics and Garnishes - All of the physical parts of your exhibit, as well as aim fees and production, and crating.
4. Goods and Drayage - These can be baffling terms, so here is the easy way to remember. Contents is how your exhibit gets from everywhere (your office, warehouse or another show) to the contemporary show's loading dock. You can put it in a car, send it by plane, ship, bus or truck. Drayage, on the other hand, has a very aspect meaning. It is only the movement of your exhibit from the loading dock to your exhibit space and back to the loading dock. Then "freight" takes it from the loading dock to its next destination. Drayage can be the most exclusive word you don't know.
5. The Cost of Your Time - If you weren't at the show, what would you be doing? Believe there are now three workloads you carry when you exhibit
* the work you are doing at the show (booth duty, seminars, networking, conference with clients, etc. )
* the work you have at your bureau - if you're not there, who is doing your work?
* the Internet work - I'm as more ancestors expenses hours after the show assembly doing commerce via email and cell phones. .
6. The Costs of Journey and Entertainment - From the time you leave until the time you return, you're expenses money. Keep assiduous track of T&E expenses for you and your staff.
7. Promotions and Marketing Beforehand the Show - The really smart exhibitors know that trade shows are not isolated marketing events, but part of a continuum of sales and marketing. For example, your ad in the trade magazine for the three months prior to the show may be part of your general marketing account or a elite ad just to make known your attendance at the show. In this group bring in premiums, show specials, ad specialities (giveaways), dealer incentives and other promotions.
8. Promotions and Promotion AFTER the Show - Here's a scary thought. EIGHTY PERCENT (80%) of leads aren't followed up. Not recall the publicity and promotions, just send a down-to-earth Thank You note inside a week of the show. Follow-up with phones calls, appointments and anything else in customary in your sales cycle.
All of these eight items cost you money, but the most expensive is #8 - if you don't bear in mind your sales cycle and follow-up appropriately - then #1 all the way through #7 are wasted.
Julia O'Connor - Speaker, Author, Consultant - writes about practical aspects of trade shows. As leader of Trade Show Training, inc,, now celebrating its 10th year, she works with companies in a category of industries to build up their foot line and marketing opportunities at trade shows.
http://www. TradeShowTraining. com -- 800-355-3910
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