5 ways to Measure Trade Show ROI
You made new connections, captured solid leads and returned home with more booth swag than humanly possible – but how can you now measure the true ROI of your trade show appearance? Understanding your return on investment will help determine if a specific trade show is worth attending, and what new strategies might help you convert sales next time around.
Number of Leads Captured
Depending on the length of your sales process, it may take some time to measure the quality of your leads. Whether you gather leads by staging a contest or asking visitors to sign up for more information, the actual number of leads collected is a good starting point for calculating ROI. By using iPads and Android tablets at trade show events, a lead capture app can help collect contact details and qualify leads – providing the data you need to gauge this important metric.
Increase Brand Awareness
Are more people aware of your brand and visiting your site after attending the show? Track your landing page and website analytics to see if your trade show appearance impacted your numbers. A boost in direct traffic (those who type your URL into a web browser) or organic search (those who search for your business by name) can indicate a successful trade show experience. If these prospects search your business by name immediately after the event, they are looking specifically for you as a result of your show appearance. This metric is easily measured by creating a unique landing page.
Social Media Metrics
Have your Twitter, Facebook or LinkedIn follower numbers increased? A post-show jump can indicate that visitors are checking you out as a result of the show. Knowing your typical number of likes, responses and messages can help track engagement and measure success. If you ran a social media marketing campaign to engage visitors during the event, you can also measure ROI by tracking these numbers.
Tracking Warm Leads
Qualified leads that have responded to a member of your sales team or booked an appointment are key indicators of a successful show. By tracking warm lead generation data, you can also get a sense of how the team you brought along performed. If they engaged with visitors and raised your overall numbers, you know you have the right staff in place for your next show.
New Customers
How many sales did you make while at the show? It won’t be relevant for every industry, but if you closed a sale on the spot or converted booth attendees into buyers – you have a solid dollar amount to count towards overall show ROI. This number can change over time, as sales leads become customers, so revisiting this metric can help you calculate the full return on investment of a given show.
Knowing the expense of attending a trade show, and what you were able to gain from it can determine if that particular event is worth repeating. Measuring trade show ROI can also help refine the marketing strategy, channels and content that best resonate with your target prospects.
