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Here in our weblog we'll share experiences of good (and scary) trade show programs, exhibits, lead generation devices, clever booth giveaways and sweepstakes, and analytic tricks and techniques of note and invite your thoughts and comments.

Thursday, October 9, 2008

Tradeshow ROI

How do you figure out what a tradeshow is worth? Not a rare question. But for many of our clients there is no clear answer. Here are some typical responses...

  • “We have no idea.”
  • “We’re here because our competitors are here.”
  • “This is the biggest show in our industry. Of course we’re here.”
  • “We’ve had the largest booth in the show for thirty years. It would display weakness to reduce our presence here.”

But… And yes, it’s a big but. Now your CEO tells you to cut your show budget by 20%, and your gut feelings won’t cut it as a reason to hang in there. You need numbers.

One measure of the value of a show is of course the number of attendees you have. (Always assuming you can count them. Easy in a big show where badges are scanned or detected. A little harder in a regional show where your measure is business cards in a goldfish bowl.)

Another measure of a show is business you have actually converted from show prospects. This is certainly a solid number and if you can justify the show on that basis, no need to look further. For most clients, however, the business they can actually attribute to the show is a small fraction of what they believe the show is worth. This is because the show promotion attracts the attention of many customers who think about attending, or who send colleagues as a proxy, or who read about the show in the show daily publication—and act as a result of one of these stimuli—though it would be hard to prove.

Tradeshow Driver has a unique solution to this age-old problem: promote to your show prospects early enough to capture their data even if they never go near the actual show.

How do we accomplish this? We offer all prospects a chance to enter the show drawing for an iPod Touch (or equivalent prize) at least 8 weeks before the show. In return for their entry, we ask them to identify their areas of interest.

On the next touch, we remind them to look forward to the drawing and invite them to the booth. We call the responders to be sure they know what’s available at the booth and that they will be expected. Now they’re in the database as a show responder, and we can match sales to this group whether they actually go to the show or not. Either way, their sales are credited to the show ROI, and we have a great answer to the CEO when the question comes down from on high.

Sure beats, “Hamada-hamada-hamada!”
 

Bob Green is the Creative Director of Tradeshow Driver and writes about many subjects from wine and food to tradeshow marketing and lots in between. Please respond to this blog and Bob will keep the dialog going.

1 Comments:

Anonymous Anonymous said...  
Great article,
Thanks

10/9/08 7:37 PM

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