Tracking trade show ROI
You don’t need to be a professional photographer to get excellent shots at exhibitions. Try these tips for trade show photos that will perk up your social media …
Was it worth it? Tracking Trade Show ROI
With trade shows springing up across the globe – each more promising than the last, it is easy to get lured into exhibiting at more shows than you had initially anticipated. As a marketing professional, you have probably been asked to measure ROI of your trade show participation to show that it was worth the investment. Unfortunately many events end up over-promising and under-delivering and therefore don’t yield enough business to justify participation.
Clearly define your goals and objectives before the trade show – without goals, measuring ROI is next to impossible. Plan your goals and create metrics that will allow you to easily track them.
Record trade show leads – you can do this the traditional way by colleting business cards in a fish bowl and speaking to your sales team or use the digital options available (sync directly to your CRM). To effectively measure the ROI, you will need to track and monitor these leads and this could take weeks or months after the show. The leads produced may vary significantly in terms of value. Track leads for greater insights.
Calculate your lifetime customer value using CM software
Tip: To maximise your trade show ROI – choose the right show, get PR coverage, ensure there is adequate pre-show marketing, host an event, stay active on social media, ensure your booth is welcoming and your sales team is trained and have a strong follow-up policy in place for post-show marketing.
To calculate your trade show revenue:
Count the number of leads collected at the show, estimate the average number that will result in a sale (CRP), calculate the average value of a sale from a trade show lead. Next, total your participation cost and use this formula for trade show revenue.
leads x close rate % x average sale value = estimated show revenue