“You get what you pay for” is an adage we’ve all heard before as it applies to most situations when making purchases.
However, in the trade show and live events industry, it’s not always so cut and dry.
Especially in recent times of battling inflation, we’ve all been impacted by some obvious cost increases in fuel and onsite labor. But all of the costs associated with executing a trade show are all over the board depending on the city, venue, and regulations.
Luckily, with some thoughtful considerations in the exhibit design, event marketers still have some control in either keeping costs minimal or knowing where to prioritize for greater impact.
To learn more about this we talked with Lance Randall, Chief Growth Officer at Steelhead. After tracking cost trends among Steelhead clients for the past year, here are Lance’s recommendations for things to consider with your exhibit design partner that will impact your trade show budget:
To reiterate the points made above, here are three real-life examples of client rental exhibits at Las Vegas shows. These booths range in size from 20x20 — 30x30.
One thing to remember as a corporate event planner is that when you have a trusted exhibit partner, you’re not planning events alone. Lance explains that to help reduce sticker shock and perhaps get stakeholders onboard with event costs, it benefits exhibitors to involve their trade show vendors much earlier in the process.
“When annual trade shows happen in different cities, it doesn’t make sense to expect the same budget as the previous year. A 30x30 space in Las Vegas is a much different cost than a 30x30 space in Philadelphia. We’ve seen rigging costs increase 2-3 times in different cities. Solid exhibit partners have a pulse on driving costs at different venues and can offer suggestions on where to be mindful. It’s never too early to start the conversation so we’re all working with the same information,” says Lance.
Similar to what we’ve seen at the gas pump and in grocery stores, costs have gone up, up, up. And within the trade show industry, not only is it impacted by inflation but there could be a huge variance between cities and venues.
The right exhibit partner can inform and educate you and your team on what to look out for in driving costs in your rental exhibit. Contact us today to get started on your next event!