Trade Show ROI?
Companies participate in trade shows and conferences for several reasons.
• Bring about brand awareness
• Develop real prospects
• Sell an item or product at an event
The associated costs for participation in a trade show or conference is impacted by line items like space cost, staff time, collateral material, hotels, food and travel. There are other costs, but they are negligible compared to these listed. It is not out of reality to say an investment for a 3 day show can run anywhere from $25,000 to $200,000.
However, I have found that some organizations don’t have a way of “keeping score” of the ROI of this investment of time and money. Their metrics are simply the feeling that is evoked by being a player at an event.
Likewise, I have observed staff in a booth spending time ineffectively by talking to people who are not and won’t ever be legitimate prospects for their goods or services.
So how does an organization measure the ROI on the show/exhibit investment they are making. It should start long before the event by counting the number of engagements that will lead to sales that will impact the top and bottom line. Then develop effective tracking that goes beyond dropping cards in a bowl and find a way to continue to enhance the brand after the event.
Some companies do this very well and other invest in the same manner that one would do at the black jack table in Vegas by “hoping” that their presence will generate enough sales and profit to pay for itself.
If you would like to insure you can get in the win column, give me a call or write me at email@example.com, and we can discuss your proper planning to produce profitable results.