By Eric Dyson
While planning for a trade show, exhibitors should take the time to set up a proper framework to gauge and maximize the results of their trade show program and overall trade show ROI.
According to a recent study conducted by Demand Metric (Event Engagement: Accelerating the Customer Lifecycle), 20% of event marketers do not possess a clear understanding on how to properly track or measure their trade show ROI.
In this post, we cover the three most important areas of trade show ROI: aligning organizational goals with trade show objectives, maximizing trade show ROI and tacking and measuring key event marketing metrics.
Aligning Organizational Goals and Trade Show Objectives
Your trade show objectives have a big influence your trade show strategy and have the greatest impact on your trade show ROI. Trade shows—while important—are just one channel in the overall marketing mix.
To make sure your trade show return on investment contributes to the success of your overall marketing program, align your trade show goals and objectives with your organization’s wider sales and marketing goals such as generating sales, building brand awareness and nurturing key partner relationships.
Keys to goal alignment:
- Speak with stakeholders in other departments to see how they measure success.
- Ask your sales managers which demographics yield the highest conversion rates as leads and tailor your marketing to target them on the show floor.
- Review your organizations growth projections and plan to contribute to the overall growth with your trade show program.
Having clear, aligned objectives will set the course for every decision that is made during the trade show planning process, making it easier to evaluate the success of every decision after the show concludes.
Communication and Number-Based Goals
For the purposes of better tracking your trade show ROI, separate your trade show goals and objectives into two categories: communications goals and quantifiable goals.
Common Communication-Related Objectives:
- Establishing or enhance attendees awareness of your company’s reputation and capabilities
- Promoting a specific brand message, re-branding campaign or slogan
- Differentiating your company and its capabilities from competitors
- Announcing a new product, service or capability
Common Quantifiable or Numbers-Based Objectives:
- Tally the number of prospects consulted
- Count the number of establish qualified leads gathered by staff
- Test perceptions of attendees with market research, such as industry trends and surveys
- Calculating revenue generated through on the floor sales
How To Maximize Your Trade Show ROI
Trade shows provide your company with the ultimate opportunity to meet face-to-face with your competitors, clients and prospects all in one place.
To make sure you get the most out of your trade show program, you will need the right strategic approach. Below we outline tips on how to best leverage your presence at an industry event to increase your trade show ROI.
Pick the Right Event
There are likely a large number of trade shows and events for your industry or niche. It is unrealistic to attend every possible event, so choosing the ones with the most potential benefit towards helping you achieve your goals will allow you to maximize your potential ROI.
Before selecting a show, Go to the full article.