Getting the right preparation in place is vitally important to the success of any expo or event. As part of your preparation, setting your budget is one of the most important tasks. This should be prioritised just as highly as choosing the right venue, choosing the right event and setting the goals for what you want to achieve from the expo.

Getting the budget wrong can have a considerably negative impact on how effective the expo is. Set the budget too low and you’ll not get the results you hoped for. Set it too high and you’ll waste your marketing budget.

Budgeting for your expo stand is one of the largest and most important expenses in your budget, so it’s imperative to get it right. We cover three important factors to help you make the right decision.

1. Reusability & Configurability

One of the key considerations is choosing the correct stand.

This starts with good planning. Does the layout of the stand fit the space you’ve been allocated? And does the layout encourage good movement and traffic of people through your stand? This is key to getting as many visitors as possible and maximising your chances of having a successful event.

Make sure the stand you choose is good quality and adaptable. It’s likely you’ll need it again for future events, so keep this in mind when making your decision.

Don’t forget to consider any extras you’ll need such as furniture, flooring, lighting, AV or screens and technology such as wifi when planning your stand.

Depending on the event and size of your stand, you may need to hire a dedicated stand builder. This can have a considerable impact on your budget, so make sure you’ve researched prices in advance.

The key thing to keep in mind is to see your expo stand as an investment. Don’t necessarily go for the cheapest option, plan for something that will last over time.

2. Graphic Design Budget

Expos are large, bustling events where you’ll have to stand out amongst dozens or even hundreds of other companies. Because of this, it’s essential you consider the graphics and branding of your stand.

Your stand design has to fulfil several roles.

It needs to be eye-catching. You want attendees to stop in their tracks and come visit your stand.

Your stand should be the embodiment of your brand. Make sure it represents you and what your company stands for.

Finally, it should appeal to your target audience.

Because of the importance of this, don’t cut corners when it comes to design. You might need to hire an external graphics designer or agency if you don’t already have one in-house.

3. Prizes and Giveaways

It’s been said that giveaways are essential for expo success so make sure you factor them into your budget.

The key reason is to entice casual browsers to your stand. It’s been shown that companies who offer promotional items and giveaways get significantly higher traffic than those that do not.

You have an almost unlimited amount of options to choose from. From small items like sweets and cakes to promotional items such as flyers, pens and USB sticks. Try and think about items that represent your brand, will be useful to your visitors and are something a bit unique. It’s fantastic for brand awareness and brand recall if you choose something that people will continue to use long after the event is over.

Prizes are a great way to offer something bigger that will draw in more people. Asking prospective customers to sign up to your prize draw is an ideal way to capture their contact details and to continue the conversation with them.

The other benefit of giveaways is that they give your attendees a chance to sample your brand.

This will depend on your specific product but there are several ways to do this. Of course, if you’re a food or drink business, you can offer free samples. But even service-based businesses can offer a free trial or consultation. Get creative and think of risk-free ways your prospective customers can try your brand.

Allocating the correct budget is one of the key parts of expo preparation. And your stand is likely to be one of the most important parts of that budget.

A number of sources suggest that 30 – 40% of your overall show budget should be assigned to your stand. If you follow the tips above, you should be much more likely in having a more accurate budget and a successful event.

For more tips on how to ensure your event is a success, visit visit ExpoBeacon Insights and news.