You don’t start a road-trip without a map, likewise, you can’t improve your trade show presence unless you know where you started out. Try these innovative ways to measure your trade show booth effectiveness. Effectiveness translates into RETURN ON INVESTMENT.
Calculate the percentage increase in booth activity from previous shows
Determining if attending a show has been beneficial from previous years is crucial. If you are not getting increased traffic each year, then your cost per lead increases and attending the show might not be beneficial anymore. Use this formula to determine the return on your investment: Divide the actual number of visitors from this year’s show by the number of visitors from last year’s show X 100. For example, if 157 visitors stopped at your booth this year and 123 stopped at your booth last year, then 157/123= 1.276 X 100 = 127 or a 27 percent increase. This formula can be used to calculate direct sales, qualified leads, attendance at in-booth activities or inquiries.
If your last show cost $10,000 and you obtained 100 qualified leads, then your cost per lead is $100. If you spend $10,000 again the next year, you can expect to have similar results. Try to improve your numbers for the next year using economies of scale. Say, for example, that your goal to get 200 visitors. By increasing your budget to $15,000, you will have lowered your cost per lead to $75. Calculate these statistics after every show and use the data to increase your reach in future shows.
Tracking the number of visitors that come to your booth
Track both new and current visitors that come to your booth. Make sure you are only counting the “qualified” visitors, not the “plus one” or co-workers that hang at the edge of your booth. Do not count the guy who told you that your booth looked nice. Only count visitors that come and ask questions and leave their contact information with you so that you can follow up with them.
Increased post show activity
One way to tell if you are getting a return on your investment is to measure the post-show activity. If you are getting increased traffic to your website, more people stopping into your office, or increased phone calls, all indications are that attending the trade show was a success.
Surveys
A good way to measure the effectiveness of your trade show display is to survey visitors that come by your booth. Such surveys can be brief: Ask the visitor if they understand the message on your booth and if the booth staff that engaged them in conversation was knowledgeable about the product/service. These surveys can tell you if your message is on target.
For guidance on creating the trade show booth that WILL boost your ROI at your next trade show, contact Trade Show Emporium at 866-764-2968.
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