Measuring Your Trade Show ROI

1. Measuring Your Trade Show ROI Before pulling your sleeves and getting into the operation details of a trade show event, ask yourself a very relevant question: "What is your organization's goal for participating in the trade show event?”. Ask yourself whether your goal is marketing, sales, lead generation or all of these. Other goals for participating in a trade show could be launch of a new product, market research for a new product, or simply getting feedback on a product which is in development via surveys etc. You must form an opinion and be clear and specific regarding your event goals. The clearer you are on your goals, the better it will be in terms of results. Being clear on your goals is the first step on your way to calculate your trade show ROI. Once you have answered this crucial question of your trade show goals, you can now go ahead to figure out what defines success for your given goals, and use a system to track your trade show ROI. We all know that, exhibiting at an industry trade show is usually quite expensive. Although, some good solutions have emerged in the market to reduce the costs, it is still very expensive to exhibit at one of the trade shows of your choice. You have to take everything into account. You have to properly budget your tradeshow booth space and design. You have to take into account the registration process, the giveaways for attendees for your event management process, the travel expenses and all the other miscellaneous costs. If you fail to measure it all, you will fail to know if your trade show investments paid off. Undoubtedly, planning a trip to a tradeshow has some uncertainty about expenses and benefits attached with it, but it is always advisable to keep this also in mind. Following are some steps to measure your trade show ROI: Start with Setting Clear Goals

2. As we mentioned at the very outset that, before pulling your sleeves and getting into the operation details of a trade show event, ask yourself a very relevant question: "What is your organization's goal for participating in the trade show event?”. But sadly, most exhibitors don’t put sufficient efforts and time to set their trade show goals. In fact, many Event Management companies don’t actually collect enough information to assist them in setting event goals before exhibiting. They simply decide on a marketing budget and spend it for a booth and hope for the best. Those exhibitors who adopt this strategy and still have successful trade shows are lucky. But exhibitors should not leave their success to luck and chance. Undoubtedly, the most important thing to take care of before going to exhibit at a trade show is to set goals. Avoid vague goals as maximum attendance by attendee Management Software. Instead, your goals should be clear and measurable. If your exhibition goals are too vague, you will find it difficult to measure your success. At this first step, you as a trade show exhibitor should set your target ROI. Track Your Success As mentioned earlier in this post, the more effort you put to prepare for the event the more you will get out of your trade show. Prepare to track your success by event Check in App. Clean and update your CRM so that you are able to track everything properly. Once the tradeshow is over, you will have to track the leads you were able to generate from the trade show. This will help you figure out and see which leads produce sales and which all didn’t. Usually, anything above 20% of your sales goals achieved by leads generated through an event signifies a good ROI. In this situation you can go ahead and start booking for next year!

3. Calculate Customer Lifetime Value and Measure The customer lifetime value (CLV) of your customer, it the total amount of money you get from this customer over lifetime. This is a very crucial concept in modern marketing. As a professional responsible to oversee successful trade shows, you need to know which acquisition channel works best for your organization like event Networking Software, and if that channel brings a high lifetime value per customer. This will help you figure out if trade show is an effective channel for your organization. If yes, consider exhibiting at other similar events. If not, you better put your marketing spend elsewhere. Measuring your trade show success if very important if you want to increase your ROI from these. Take these simple steps in mind next time you plan to exhibit at an event and working on its marketing strategy.