An impressive stand that creates awareness amongst prospects that don’t engage with you on the day but remember you months later.
Understanding the value of a visit to your stand.
Identifying your ideal customers from the hoards.
Reconciling the value of leads that don’t follow through against the cost and time spent exhibiting.
Assessing the value of attendance in its own right.
Some things are naturally harder to measure than others, happiness being a prime example. And, as demonstrated by the above list, measuring the ROI of your exhibition also brings its challenges.
There are many different factors that influence your ROI, and not all of them are easily tracked. As a result, many businesses struggle to place a tangible value on the results of exhibiting.
Start by defining your objectives
The first step you need to take if you want to assign value to your exhibition is to define your objectives then work out how you can tangibly measure them.
- Measure no more than five metrics and focus on maximising these numbers.
- Having set metrics will determine design features on your stand that will help you measure them.
- Qualify your target audience and put a potential value on them, based on your existing customer base and spend.
- Make sure you have a follow-up plan in place for the leads that you get.
- Schedule review meetings for two, four and six months after the event.
Measure ROI based on your objectives
The way you measure ROI depends on your business objectives, with some being far more straightforward to measure than others.
- If the aim is to generate leads, you can qualify your leads and have a value per lead.
- If you’re going for brand awareness, it’s helpful to track Twitter feeds and determine a value per “impression”.
Obviously, the more tangible you can make your metrics, the easier it is to measure ROI.