Did you know that on average marketers invest roughly 45% of the total annual marketing budget into an exhibition, and only 64% of marketers set goals and metrics to measure the success and return on investment for that show?
Measuring the success of your exhibition should form part of your overall marketing strategy when considering booking a stand at a show. Here are some tips on how to set specific goals and measure the success of those goals.
Understand your cost vs return.
How many people are due to visit the show? On average about 5% of the visitors will actually walk through your stand and engage with you. You can work on that number to set goals.
How much revenue is generated by 1 sale? How much are you investing?
So how many sales do you need to secure to make a return on your investment for the show?
Set specific goals with quantifiable results.
Make your goal list comprehensive and try to capture all the value you can get from the show, and make the goals specific and metric driven. For example:
Goal 1: 15 sales written during the show. 12 sales written post-show over 6 months.
Goal 2: 75 leads received during the show. 45 qualified leads received post-show.
Goal 3: Gain media coverage of 3-5 articles or mentions in the top trade titles over the next 2 months.
Goal 4: Identify and recruit at least 7 new distributors or partners.
Goal 5: Build a contact database with at least 100 plus contacts for marketing purposes.
Keep it simple.
During the show ensure you have setup a system to collect the leads, sales and contacts that you wish to obtain, in a simple and time efficient manner. Ensure all the staff are briefed on the goals and how to capture them without causing a bottleneck during peaks times of the show traffic.