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8 Line Items of a Trade Show Budget
Budget Guidelines for Trade Show Marketing B'techa did not know - Trade shows are the second largest expenditure of corporate marketing dollars in the US. Only the field salesperson costs a company more. How much of that money is wasted? Oodles - if you don't know what you are doing and how to track it. Clients often ask, "How much does it cost to do a trade show?" It can be a little or a lot. Remember - a tabletop show at a Chamber of Commerce networking event will cost you significantly less than a 10-day international event, but these EIGHT major components are good guidelines in budgeting. 1. The Rent on your Space - The only constant in trade shows is the real estate -that piece of gray concrete you rent. Some shows are priced by a flat fee. Most are priced according to a square foot (sq. meter) standard 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 - Anything 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 Accessories - All of the physical parts of your exhibit, including design fees and production, and crating. 4. Freight and Drayage - These can be confusing terms, so here is the easy way to remember. Freight is how your exhibit gets from anywhere (your office, warehouse or another show) to the current 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 specific 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 expensive word you don't know. 5. The Cost of Your Time - If you weren't at the show, what would you be doing? Consider there are now three workloads you carry when you exhibit * the work you are doing at the show (booth duty, seminars, networking, meeting with clients, etc.) * the work you have at your office - if you are not there, who is doing your work? * the Internet work - I'm seeing more people spending hours after the show making doing business via email and cell phones.. 6. The Costs of Travel and Entertainment - From the time you leave until the time you return, you are spending money. Keep careful track of T&E expenses for you and your staff. 7. Promotions and Advertising BEFORE 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 publication for the three months prior to the show may be part of your general advertising budget or a special ad just to announce your attendance at the show. In this category include premiums, show specials, ad specialities (giveaways), dealer incentives and other promotions. 8. Promotions and Advertising AFTER the Show - Here's a scary thought. EIGHTY PERCENT (80%) of leads aren't followed up. Forget the advertising and promotions, just send a simple Thank You note within a week of the show. Follow-up with phones calls, appointments and whatever else in normal in your sales cycle. All of these eight items cost you money, but the most expensive is #8 - if you don't consider your sales cycle and follow-up properly - then #1 through #7 are wasted. Julia O'Connor - Speaker, Author, Consultant - writes about practical aspects of trade shows. As president of Trade Show Training, inc,, now celebrating its 10th year, she works with companies in a variety of industries to improve their bottom line and marketing opportunities at trade shows. http://www.TradeShowTraining.com -- 800-355-3910
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Drop Discounts and Earn Top Dollar Every dollar you discount is a dollar of pure profit you are giving away. Therefore, your efforts to remove discounts will be richly rewarded. 4 Marketing Myths Threaten Your Sales These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead. When Its DUH? Time at Trade Show - 3 Little Words Save the Day TIME, MONEY, HASSLE - You can make a sale on one of the Three Little Words, but when you sell on two of the three, you'll have a very loyal client. We Will Make It Back----- A Fictional Story Based on Fact About Sales Management Success Bill Borders stepped up onto the podium. He had just been introduced as the new Vice President of Sales for Kiechler Building Supplies. As he looked out at the fifty seven faces staring back at him, time seemed to stop and everyone was motionless. Bills mind wandered. This wasn't a nervous reaction; it was more of a reality check. Increasing Sales by Using Coupons - Will it Help Your Business? Increasing Sales by using Coupons. Will it help your business? Well, the Promotional Marketing Association's (PMA) "Coupon Council" shows that 3.8 Billion coupons were redeemed in 2003. Consumers saved over 3 billion dollars. 79% of American's used coupons last year. There are many Coupon Franchises out there with quite a track record. Here are a few of them: Val-Pac; http://www.valpak.com/info/franchise/franchise_faqs_content.jsp. Are Your Business Proposals Losing You Sales? 10 Steps to Get the ?Yes? You Deserve Your ability to write an effective and persuasive business proposal directly relates to your level of success. Write a great proposal and you'll get the contract or make the sale. Write a ho-hum proposal and your prospect will go elsewhere. How Your 60-Second Elevator Script Can Transform Your Staff, Your Sales, & Your Business When attending a Chamber of Commerce breakfast networking get-together, I'm always perplexed by the lack of thought and preparation many business owners display when giving a 60-second overview of their business. These people have spent enormous amounts of time, money, and energy on their businesses. Yet, when asked to give a quick synopsis, they fumble for the right words, they ramble, they go off on a tangent, the information is disjointed, or the words are boring and seemingly unimportant. Investing in Your Sales Team While there's no easy answer to this question, there are a few basic points, known as the Training Discrepancy Model, which illustrate key areas that must be targeted for your company's training investment to be 100% effective. Increase Your Sales Accept Credit Cards, Part 2 In part two we will discuss overcoming objections, which credit cards to accept and using the check paying option. The Top 5 Issues Facing VPs of Sales A recent study of 2,663 sales organizations by Think Training, Nightingale Conant and Trainique uncovered five areas that shed light on what separates the best from the rest (visit http://www.revegrowth.com/free_articles.htm for a copy) The ACCOUNTABILITY Challenge for Today's Business Management In today's 24/7 driven business word, accountability is becoming a more critical issue for every business owner, manager, executive and salesperson. The challenge is to realize that accountability is just not a single issue, but an issue with many supporting elements. To maintain and thrive as an accountable individual first requires overcoming the fear to embrace these elements and then a plan of Action to ensure that YOU are an accountable individual.
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