Typically, exhibit solutions providers that create trade show exhibits don’t offer advice on how to strategically reduce your overall exhibiting budget. There are exceptions, however. As one part in a series of ongoing educational outreach efforts, exhibit industry leader Nimlok recently sponsored an on-line seminar (or Webinar) to offer exhibit and meeting professionals ideas on how to keep costs down on the trade show floor.
Respected industry consultant Candy Adams shared her top ten tips for managing a budget and saving money at trade shows. 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 ten smart tips to strategically keep your expenses in line.
Candy Adams’ Top 10 Big-Picture Cost Saving Tips
1. Plan, plan, plan. Have a written plan that includes prioritized, measurable objectives for sales, audience contact, branding and public relations (PR). 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of how much you have to pare out of your show budget, always keep in perspective that image is everything, and a tacky, outdated exhibit speaks volumes about your company.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. Conversely, 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 and longer payment terms. Also inquire about 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’ Web sites to see where they’re going.
6. Determine how much space you REALLY need.
Maybe you’ve always had a 30’ x 30’ space, but could you reduce to a 20’ x 30’ with better planning of your exhibit space? Direct costs of shipping, drayage, electrical, labor and personnel costs rise exponentially as your exhibit space gets larger.
7. Compare the costs and benefits of big and small shows. Consider the disparity in costs of exhibiting at large horizontal industry shows vs. 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 on your final bill from the show’s General and Exclusive Contractors without comparing them to your records. When in doubt, ask them to produce back-up for their charges. You know, “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.
“We think Candy Adams is one of the smartest, most plugged-in consultants in the exhibit industry, so we’re happy to share her wisdom with our clients via our Webinar series,” said Michael Kotyuk, director of marketing at Nimlok. “It’s all part of our commitment to providing Nimlok customers with a remarkable experience and provide clients with all they need to succeed regardless of the market environment.”
Since its founding, Nimlok has grown to become a worldwide leader in the display and exhibit industry. With more than 200 authorized distributor partners in 56 countries worldwide, they offer an extensive Custom Solution Product line as well as portable and pop-up displays, visual communication systems and other exhibit accessories. Manufacturing facilities are located in Chicago, Toronto and the U.K. To learn more about Nimlok, visit www.nimlok.com.
Candy Adams (a.k.a. “The Booth Mom”) , CTSM, CME, CEM, CMM, CMP, is an independent exhibit management consultant for exhibiting companies who don’t have a full-time exhibit manager or require specific expertise in maximizing the outcome of their show participation. She is also an exhibit staff trainer, industry speaker for associations and exhibit houses, and a faculty member at Exhibitor Show, Exhibitor FastTrak, and faculty at several Southern California colleges and universities. Her Web site is www.BoothMom.com.
