Navigating The Exhibit Experience With Today’s Rising Costs
Trade show exhibits are going in a grand direction during 2023, but rising costs make this tricky. Brands and exhibitors across industries are focusing on creating these grand immersive experiences using VR, sensory immersion, digital interaction, and larger than life displays. This is what makes brands stand out, and this is what makes attendees remember a brand story long after an event. With costs for materials, travel, lodging, catering, and speakers skyrocketing – how can brands and their exhibitors balance their budget with their experience?
The cost of doing business has changed, and not for the better. To navigate this, exhibitors, organizers, and suppliers are working more closely together to make sure everyone is getting the best end of the deal. Trade show budgets are streamlined, and some creative thought is necessary in order to stretch this budget in meaningful or impactful ways. Prioritizing the attendee experience over everything else can let brands know just how much budgetary room is left for additional elements while still making the best impression where it counts.
Taking a good look at the data from previous trade shows will show brands and exhibitors where fat can be cut. Anything that hasn’t been highly successful in the past could be turned into more room for enhancing the experience now. For instance, if a live demonstration didn’t seem to pick up much steam with attendees last year, cut it and try VR this year. Attendees get to experience a product or a service, but they can do so on their own time, at their own pace, and in line with current proven trends.
Working with vendors early and locking in longer-term partnerships is another strategic aspect of financially conscious trade show planning. Waiting until the last minute always results in higher costs, and longer-term partnerships result in stronger professional relationships. In this way, brands can lock in lower prices earlier and avoid any increasing rates that are seen throughout the year.
Navigating the trade show attendee experience and maximizing impact with exhibits is complicated when prices are on the rise. By working smart, analyzing the data, and focusing primarily on the attendee experience, brands will navigate this space much more easily as they ride through this period of inflation. Contact Lighthouse Exhibits to learn more about making the most of your trade show budget.