Do you know when it is time to invest in new trade show exhibit booths? Can you justify such a large expense? While there is no single, all-encompassing answer for this, if you are in charge of your business’s tradeshow display and believe that it is time to update your display, then you have to find a way to make the investment make sense for your managers. Some things to consider to help you with this can be found here.
Consistent Source of Leads
Do your tradeshow marketing efforts provide a consistent avenue of leads? Do those leads often become clients? If so, your managers may wonder why you want to change something that is working.
You need to let them know that the display may be working you are also running into quite a few issues due to growth, excessive visitors or a small space. In some cases, the key to revamping your efforts will be to rent a larger booth. If your tradeshow efforts are a consistent and solid business driver, chances are the management team will be willing to invest in it to ensure this continues.
What Would Happen if You Don’t Invest in a New Booth?
You need to consider what will happen if you do nothing. Are you satisfied with having to keep the current booth? This may require you considering how old your existing display is and how it is perceived by trade show attendees.
You also have to consider what your direct competitors are doing? If you have noticed that your primary three competitors are upgrading or upsizing and you don’t, the impression will be that you are losing quite a bit of ground to them. After all, perception is critical when it comes to competitive marketing.
Study Your Competitors
You need to figure out what the strengths and weaknesses of your competitors are. Also, what can you do better. When you figure this out, you will be able to present a plan or strategy to management to show them the direction you would like to go with the new trade show booth you want to purchase.
Take some time to evaluate your current needs and if your exiting booth is able to meet them. If not, create a plan to present to your management team to gain funding for a brand new booth.