If the cost of sending your sales force to a trade show sends your CFO into a tailspin, maybe it’s time to rethink your exhibiting strategies. Certainly, trade shows are important. Besides producing immediate sales and generating qualified inquiries, a trade show is an excellent place to introduce a new product or service, stay in contact with existing customers, learn more about your competitors, and reinforce your company’s overall marketing objectives.

While trade shows are not cheap, they are, dollar for dollar, one of the best ways to sell your product or service.

“The cost of doing trade shows versus direct sales is dramatically low,” says Karen Henry, account director with Nth Degree, a global event management company. “A qualified prospect arrives at your booth, and it takes far less effort to get them interested and to close the sale.”

But trade shows do not have to cost you a bundle. There are numerous areas where you can cut costs without cutting the effectiveness of your program. Selling Power consulted four industry experts for their suggestions.

Integrated marketing program

The most effective and profitable trade show programs are those that support the company’s overall marketing plan. Each trade show should be seen as part of the company’s sales program and not as a separate event. “Your event management program needs to create the same message as your entire marketing program or you’re just wasting dollars,” says Henry. “It’s important to set up what your goals are, not only for each show but for your whole program, and to know how those goals relate to marketing or product planning.”

Smart show selection

The most important question to ask about your trade show program is whether or not you’re attending the right shows. You want to select trade shows that promote your company’s overall marketing strategies. For example, if your business needs to grow into new markets, pick trade shows that draw potential customers.

“Fortunately, there are enough trade shows out there to approach every conceivable market,” says Mike Thompson, owner of Omni Displays, a trade show display manufacturer. “Some of them are small, but if you get a small trade show targeted to 500 key people in your market and most show up, it saves you 500 phone calls.”

Examine the shows you attend and why. Ask if you really need to be at each one, or if you’re only attending because your competition is there. When you find a show that doesn’t meet your overall objectives, drop it. “Even if you reduce your trade show participation by one or two, that’s going to have a significant reduction in costs,” says Don Dozier, chief operating officer for FastSigns. “If you pick and choose your trade shows wisely, you’ll make your dollars go a lot further.”

An alternative to omitting shows is reducing your show presence. “Being at a show on a shoestring is better than not at all,” says Thompson. One of the first places to consider cutting costs is in the size of your show space.

“Average space usually runs around 35 percent of the total cost of doing a trade show,” says Dozier. “So even if you reduce booth size from a 10 feet to 8 feet or 20 feet to 10 feet, that’s a significant savings that will have a ripple effect in terms of less expensive shipping costs for a smaller display, and lower drayage and installation charges.”

Plan to save

Experts suggest even more money can be saved by good up-front planning. Tom Cortese, vice president of marketing and sales for Creative Management Services, says that the exhibitor kit you receive from the show sponsor presents several money-saving options. “There are service orders an exhibit manager has to place before their exhibit can be installed, and each carries a deadline and a discount for making that deadline. You can get a 10 percent discount just for getting your orders and deposits in on time,” says Cortese.

Cortese also suggests careful logistics planning to save money. “Avoid unnecessary transportation costs by looking at your trade show schedule and planning where your display is stored. It may be cheaper to ship it to the next show city than bring it home.”

Cortese labels transportation as an “unseen expense” because the money pays for something the show attendees don’t see. Smart planning will help cut unseen costs and let you pour the savings into the promotion of your company, he says.

Particularly with larger exhibits, attention to detail is essential to cost savings. “Your exhibit manager needs to be very well organized so that once you arrive on site, there’s a minimum amount of time wasted,” says Cortese.

Proper communication with all your suppliers will improve this coordination and help save money, says Karen Henry. “When a company fails to let its suppliers know what its expectations are up front, that’s where they start spending unnecessary money.”

Reducing exhibit costs

Typically, the biggest factor in the overall cost of your exhibit is weight, and the industry is continually looking for ways to construct sturdy exhibits out of lighter materials. “If you can reduce the weight in how you construct your exhibits, then you’re going to save money on transportation, storage and drayage,” says Cortese. “If the materials are less bulky, you’ll also save on installation and dismantle charges because the exhibit will take less time to put up and break down.”

If your display is portable and one person can carry and set it up fairly quickly, you’ll save the drayage, set-up and break-down charges. Shipping costs for a small portable display are inexpensive and not always necessary if your staff packs it in their car or carries it on board an aircraft as luggage.

While portable displays are not very expensive, many companies opt for the savings and convenience of renting a display at the trade show destination. “Renting is becoming more popular because it’s ideal for someone traveling to a show,” says Thompson. “Instead of hauling their display and paying transportation, all they have to do is call to reserve an exhibit then bring their graphics to put on the rental.”

You can rent a trade show display in most major cities with convention centers. “Rental is typically 15 percent of the purchase price and is good for the entire show,” says Dozier. Check your options carefully as some companies will quote a daily rate versus a show rate.

Saving on graphics

In just a few seconds, your trade show graphics have to communicate exactly who your company is, what you do, and why the reader should care. It’s crucial that you not leave graphics to the last minute so as to avoid overcharges from your suppliers, reduce the likelihood of mistakes, and refine your attention-grabbing message. Start at least two to three months prior to the show.

“In many cases, graphics can be the most expensive part of the whole process if you’re not careful in terms of selection,” says Dozier. Shop price and quality for show graphics. Under “graphic” or “signs” in the Yellow Pages, you’ll find a wide selection of graphics suppliers.

National sign shops like FastSigns offer a variety of solutions at different prices. “From a cost standpoint, the low-end system is the computer-generated vinyl graphic that’s available in a multitude of colors,” says Dozier. “A lot of our customers find if they’re only doing two or three trade shows a year or if their display is a table top, vinyl graphics are more than adequate.”

The right people

Selecting the right salespeople to work in your booth is essential to reaping the return on your show investment. “An exhibitor with a small, inexpensive display and a knowledgeable staff that follows basic trade show etiquette can generate more qualified leads than the exhibitor with a big expensive display and an unprepared staff,” says Mike Thompson.

Your employees need to be well-trained on how to work a trade show. Make sure they understand the company’s show objectives and how they fit into the overall marketing plan. Look for individuals who enjoy meeting strangers and who have one-on-one sales skills, the ability to present information quickly and clearly and the stamina to work the show.

Follow-up

Experts warn that a big waste of money occurs when companies fail to follow up quickly with their show leads. Overcome this by defining a plan for follow-up prior to the show, assigning responsibilities and checking that the leads are acted upon.

Remember that success at a trade show is not determined by how much money you’ve spent, but by how smartly you’ve exhibited. By taking the suggestions above, you may find your savings to be enough to send your company to another sales-producing trade show.