The 3 main reasons for deciding to invest in participation in an exhibition are; (1) Branding Awareness, (2) Lead Generation and (3) Sales. However, if we were to be honest about our short/medium/long term objectives, what we really desire is SALES.
When budgeting or forecasting for exhibition ‘on-site’ sales make sure to ask the organisers what they anticipate what the attendance will be - THEN HALF IT.
You, yourself should then assess the potential and come up with a measured and realistic appraisal of the number of sales you could make to the attendees – THEN HALF IT.
i.e. ; If the event organisers proudly predicts an attendance of 100,000 – your guide should be 50,000. If your first modest forecast is that you could make 500 sales – you should then budget for 250 sales.
Depending on your business model, exhibition ‘on-site’ sales should probably represent a third of what your objective is. The remaining two thirds should be equally allocated between lead generation and brand awareness.
The cost of participation should be broken down between exhibition space cost and exhibition stand cost. The space cost is repetitive. However the exhibition stand and graphics can be re-used and should be written down over 5 exhibitions.
Simple Ready Reckoner:
Exhibition Space Cost: €4000
Exhibition Stand Cost: €2000 (€10000 divided by 5)
‘On-Site’ Sales €12500 (250 sales of €50 profit per sale)
Lead Sales €10000 (sales on leads from show)
Branding €5000 (sales with a longer timeline)
Is it worth it ?
WE THINK SO !