In this episode, we are breaking down how businesses spend their trade show dollars based on an article from Exhibitor Magazine. From here you can learn if maybe you're spending too much or too little in an area. Plus I'll share the shocking and critical thing that is missing from these numbers!
- 32% - Booth Space, - for the opportunity to get in front of your target customer. McDonalds – Real Estate. Best spots are not cheap!
- 11% - Show Services, - carpet, internet, electricity, vacuuming and more. that means on average 43% is just being there!
- 9% - Shipping,
- 14% - Exhibit Design & Construction, - Not talking about graphics, just the exhibit itself. Obviously larger booths can cost a lot more, but still it’s the percentage.
- 6% - Graphic Design & Production, - work with someone that understands trade shows! More like billboards than a magazine.
- 13% - Travel & Lodging,
- 5% - Marketing & Promotions, - a lot more online marketing options today, and important to let people know you’re going to be there so you’re not lost.
- 3% - Virtual Exhibits & Events, - this can definitely grow over time
- 7% - Other. – writing, content creation, brand ambassadors, more.
Look at how you are spending your trade show dollars. If you don't have it broken down like this, do it and compare!
Here’s one thing that I don’t see anywhere in this article or breakdown. And in my opinion can literally make all the money we have talked about a fantastic investment, or money thrown away, wasted, burned. And that’s training and coaching.
You have to train your staff the right way for maximum ROI. You can get everything else right – best looking booth, great location at the right show, great marketing and everything else. But if your team isn’t trained on how to engage with attendees and bring them into your Booth Flow, or Attendee Journey, you are missing out on huge opportunities.
I guarantee that. You are throwing away good money!
And if you don’t have a solid plan for that attendee journey that everyone is on board with, same thing. Money just thrown away.
Here’s another thing I know – company leaders are trusting their people are doing these things. Sometimes it’s a new marketing person who is coordinating everything. And they may do a solid job making sure the booth looks fantastic and all the I’s are dotted. But they may not know about training properly or the booth flow, or setting the right metrics and goals.
These are the basics and need the proper investment! You don’t know what you don’t know.
I love bringing an expert outside look to companies to not only see the light bulbs go on, but at the end to help them exceed their goals and crush Roi!
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