Understanding And Measuring Trade Show ROI: What You Need To Know

Measuring ROI is the cornerstone of marketing, and it's a good way to measure trade show results as well. Learn new facts about trade show ROI and gain a better understanding of its impact on your displays.  

As a convention marketing professional, you know how difficult it is to pinpoint the exact trade show ROI for any given event. As a marketing administrator or business owner, you know how hard you push for demonstrable trade show results. Although the results are often visible, they are hard to measure definitively. Recent research and technological advancement is only just starting to suggest ways to find a concrete number which represents actual return. 
How Much Does It Cost To Identify A Prospect?
Prospect identification is one of the key functions of a convention display. Staff can interact with visitors in a natural way, helping explain aspects of the product to anyone who is interested. At a convention, the likelihood of your booth being completely unvisited is almost zero. Whenever there is a visitor asking questions, your staff is screening potential leads. In addition, everyone who walks up to your booth wants to be there. They have chosen to come to the convention, and they've chosen to approach your display.
Contrast that environment with a more conventional form of marketing, such as a print advertisement. Print advertisements are delivered to anyone within a certain range. There is no guarantee that the people within that range want your product or even have a use for it. Even if there were a lead to be found, tracking someone down for follow up is virtually impossible. With print marketing, the cost is prohibitive. Tracking down an individual lead is impossible. Results are much better at a convention. Identifying leads is easier and requires less effort. 
Considering Trade Show ROI In Terms Of Industry Presence
One often overlooked factor of conventions is how many industry insiders are also scouting the booths. The people you talk to at a convention are not just small-time enthusiasts here to enjoy themselves. Serious conventions exhibit your products to high-end buyers. It's a way for potential customers to seek out new products to pick up. And when those decisions are made in person, it's always easier to sell your item. That fact alone increases ROI. 
Is It Easier To Turn Prospects Into Leads If You Meet Them In Person?
Human nature makes it more difficult for us to turn down an offer made in person, and that trait extends to visitors at a convention. ROI increases simply because many people will be more willing to become leads after speaking with a representative of the company. Trade show results are so good because interacting with real people creates social ties, which continue to influence the visitor after he or she has left the actual exhibit. Because of these ties, deals close sooner, require less effort, and are typically more enduring. 
Leveraging These Facts Into Better Trade Show Results
Understanding how to measure trade show ROI does little to help us increase it. Yet each of these ROI meters leads to a bigger conclusion: the idea of convention as social capital. We need to emphasize time spent talking with leads. The closer their connection with our company, the better the trade show results will be. 

Article Tags: Trade Show Results, Trade Show, Show Results

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