How to reduce expenses when attending trade shows

Attending trade shows can be highly beneficial for diverse companies. It is due to such trade fairs enabling them to complete varied business objectives. Among them are networking, developing brand awareness, showcasing innovations and expanding professional skills. Yet, attending such trade shows can be quite costly. Yet, there are steps to scale down the costs of taking part in such trade events. How to reduce expenses when attending trade shows?

Begin by breaking down the costs

How to reduce expenses when attending a trade show? Begin by breaking down the costs. It enables you to determine where the most notable costs are and organise them. For the task, consider using an Excel Spreadsheet or a similar programme to create a list of the expenses and note down the details. Generally, the most costly aspects include:

Chief contributors to trade show expenses

There are several chief contributors to trade show expenses. Among them are:

• Exhibition stand space fees;
  
• Shipping and logistics;
  
• Show services;
  
• Marketing.

How and why are they the chief contributors?

There are many reasons for these aspects to contribute chiefly to trade show expenses. For example, booth space rentals and exhibit design fees contribute notably. It is because of various details. Among them are costs per square foot or metre, location position, show size and prominence. It is also because of components such as construction and design fees. These can increase for diverse causes. Among them are the level of customisation, implemented technologies and type of materials used. Transportation has similarly high expense potential. The more extensive the team and materials that need to be transported to a location and handled at the venue, the more costly the fees become.

Additionally, depending on the type of transport used, the value can increase further. An aeroplane, for example, can save time compared to a train, boat, or truck. Yet, it can also escalate travel expenses. Marketing and promotion can also affect trade fair expenses for various reasons. Among them are costs for creating promotional materials. These are based on their level of customisation and the duration of promotions. The more custom, complex, extensive, and long-term the promotional materials, the higher the costs. Show services and utilities play a similar role. The more operational needs your booth space has, the higher the expenses can be.

How to reduce expenses for each aspect?

How to reduce expenses when attending trade shows for each aspect? There are several means to take.

Begin by downsizing effectively

How to reduce expenses when attending trade shows? Begin by downsizing effectively. For example, opt for downsizing your exhibition stand and promotional material designs. Instead, focus on eye-catching economic options. These include, for example, implementing digital catalogues. They also encompass using strategically placed elements in your designs. For example, for promotional materials, opt for minimising the layout. Balance it by using elements such as images or graphic pieces in attention-grabbing colours. These will seize the attention of potential leads while also reducing expenses. Similarly, reduce the amount of promotional materials that need to be transported. For the task, digitise them while making them interactive. Also, opt for sending compact yet highly trained teams to the trade show.

For show services, consider which are essential and which are optional. For example, wireless internet, utilities, cleaning, and security are often vital. Yet, carpeting, for instance, is not always necessary. Similarly, check which such services are included in your participation fees and which are not. For the task, study in detail the participation agreement provided by the organiser. For marketing, consider implementing social media and other free marketing tools. These include email newsletters.

Beware of hidden costs

How to reduce expenses when attending trade shows? Among the significant steps to take is to be aware of hidden costs. These include insurance policies, labour costs, drayage, storage and material handling. These can notably affect trade fair expenses without being noticed.

To avoid such costs, you need to take several steps. For the task, study in detail all contracts you are given before agreeing to them. Additionally, opt for using lightweight materials and scheduling all details in advance. For example, schedule your show services via early-bird discounts.

Conclusion

Trade shows can be beneficial, yet they can also be costly. However, various steps can help to prevent or reduce the charges related to trade fairs. How to reduce expenses when attending trade shows? Apart from the previous, there are several more to undertake. If you would like to learn about them, consider contacting Trade Fair Trips Ltd.