Measuring the Value of Trade Show Exhibits

There's nothing a corporate executive loves more than seeing return on investment, or ROI, spelled out in black and white. Unfortunately, creating that kind of clear cut business case for marketing strategies can sometimes be difficult. Creating and hosting trade show exhibits is no exception. However, it is possible to not only demonstrate ROI for trade show exhibits, but to use that analysis to drive higher returns.

Start With A Plan

Far too often, businesses hosting trade show displays will hand out reams of promotional material and collect a big bowl of business cards, but return to the office unsure of the impact of their efforts. A more effective approach is to develop a specific plan prior to the event. The plan should identify who exactly the business is trying to connect with at the event; this is known as the target audience. It should be clear how information about the target audience will be collected and specifically what information should be collected. The plan should delineate how that information will be managed and followed up on.

Measure And Measure Some More

The next step is to decide how to measure value. One obvious metric is the number of leads that are generated at an event. Some exhibitors collect hourly and daily visitor counts at their trade show displays. However, to really prove ROI, measurement should go one step further. For example, what happens to that lead after the show? What happens after the initial post-show follow up? How about six months after the event or even 12 months? The real ROI is demonstrated when revenue is affected. It takes a coordinated effort to track that kind of information. This kind of information can guide future decisions about what events to participate in, what trade show displays and materials are most effective, and even which staffers are the most productive on the floor.

Plan To Create The Outcomes You Want

With a clear picture of the results that are expected and how they will be measured, it is easier to create a plan to improve outcomes. By identifying the target audience in advance of the event, a company can create an effective pre-event marketing plan. Pre-event mailers, special invitations and contests can actually drive those targeted leads right to your trade show exhibits. Even more valuable than pre-event marketing is post-event follow up. All leads collected at trade show exhibits should be prioritized to reflect how strong the lead is and what their decision making authority is. Fast follow up is important; simply reconnecting as soon as possible after the event sends a strong message. The best strategy is to start with the most promising prospects first and work through the list until all of the customers have been contacted.

Follow up should be as customized as possible. Make the most of information collected at the event to demonstrate understanding of the potential customer's needs without repeating the same pitch used at the event.

A well planned strategy is absolutely necessary to prove the value of any company's trade show exhibits. It will take effort and fastidious follow through to collect the right information to demonstrate value. However, it's worth the effort. The robust knowledge collected will not only prove the value of exhibiting, but can guide future decision-making and can push success even further through targeted efforts before and after the show.

Source : ezinearticles