At some point, your company’s CEO, CFO, or CMO will ask for your trade show ROI or Return on Investment. The results should be easy to report, if you captured measurable data. ROI, as a general term, can be just about anything you choose as long as it measures your trade show costs vs. your trade show results. All that seems simple enough… but in real life it’s rarely that easy. 

Trade show managers have historically struggled to quantify the results of their exhibition program because connecting sales with trade show marketing is rarely straightforward. Did Customer A purchase the software package because they visited your booth at Show XYZ or was it the result of a print ad, a salesperson presentation, or because your competitor’s product was too expensive or because they botched their pitch or because the client didn’t like the color red in their logo. Who knows?

Not straightforward, however, doesn’t mean impossible when it comes to measuring your trade show ROI. Just about any quantifiable measurement, if done with intent and accuracy, can be a useful tool for analyzing your strategy and providing insights into your future trade show marketing goals. 

In this post, we’ll review some trade show ROI guidelines and suggestions, along with alternative measurement options like Return on Objectives (ROO), These alternates can be used in conjunction with or independent of ROI. 

Understanding Trade Show ROI

Simply put, ROI, in the context of trade shows, is a metric used to assess how much profit a company generates from its trade show participation compared to the total costs involved.

Ideally, ROI would capture all the expenses, like the cost of the floor space, the exhibit, drayage, labor, travel meals, etc, and subtract it from all the sales associated with the trade show. 

Here’s an (almost) perfect scenario:  you grow apples and only sell them at the local farmers market. You can calculate all your costs for the year and then tally all your sales at the farmer’s market. Since you don’t sell your apples anywhere else, the ROI is very straight-forward. 

However, what if a grocery store produce buyer sees you at the market, then contacts you later about buying your apples? Then a competing grocery store buyer sees your apples at the store, sees your company’s name on the boxes, and contacts you about buying apples. Maybe not this season but next season and the buyer doesn’t recall how they got your name in the first place. Should this be a ROI from the farmer’s market when you can’t determine how the buyer got your information? 

If you’re about to throw up your hands and forgo measuring ROI altogether, please don’t. There are ROI measurements, which may not have the same accuracy as a financial spreadsheet, but are still useful especially when comparing the results from one trade show to another or comparing the results of a specific show from year to year. 

How to Measure Trade Show Effectiveness

Let’s start by taking a high-level approach to measuring trade show effectiveness. First, identify what measurements are important to your company and to your marketing program. Not every company has the same goals. Measuring trade show effectiveness goes beyond just counting brochures handed out. It’s an analysis of various factors to understand if the show met your goals. Here’s a breakdown of several key metrics to track and how they contribute to the bigger picture:

Leads and Sales:

• Leads Generated: This is the number of potential customers you connected with at the show. Track the quantity, but also qualify the leads – are they the right fit for your business?
• Cost per Lead: Divide your total trade show expense by the number of leads to understand the acquisition cost per lead.
• Sales Conversion Rate: Track how many leads from the show convert into paying customers. This helps assess the quality of leads generated. This method requires both discipline and the cooperation of the sales and marketing departments. 

Engagement and Brand Awareness:

• Booth Traffic: Monitor the number of visitors to your booth. A high number indicates a strong interest in what you offer.
• Social Media Engagement: Track social media mentions, reach, and engagement (likes, comments, shares) around the show. This reflects the brand awareness generated.
• Media Coverage: Measure the number of media mentions (articles, interviews) you receive during or after the show.

Additional Considerations:

• Set Goals: Before the show, define Specific, Measurable, Achievable, Relevant, and Time-bound goals for your participation. This helps tailor metrics to track progress.
• Pre and Post-Show Efforts: Track pre-show registrations and meetings booked, and follow up with leads after the show. This shows the complete lifecycle of a trade show lead.
• Customer Interactions: Measure the quality of interactions with existing customers at the show.

By analyzing these metrics, you gain valuable insights into what worked well and what needs improvement for future shows. This allows you to refine your trade show strategy and maximize your return on investment. With professional trade show management, these tasks become more streamlined and effective, ensuring that every aspect of your trade show participation is optimized for success.

Essential Trade Show Metrics to Track

What you track will depend on the information you want to measure: before, during, and after the show.  It’s possible to do a deep dive into quantitative measurements, but it may not be practical given the chaos of a trade show. You don’t want the tracking to supersede or impinge on your marketing and sales goals. 

Here are 10 essential ones to consider, categorized across pre-show, during-show, and post-show phases:

Pre-Show

1. Total Registrations & Confirmed Attendees: Gauge initial interest and plan staffing accordingly.
2. Attendee Demographics: Understand who’s attending to tailor your messaging and booth experience.
3. Event Page Engagement & Email Engagement: Measure pre-show interest and identify potential leads.

During the Show

1. Booth Traffic: Track visitor flow to see if your booth attracts the right audience.
2. Leads Generated (Qualified & Total): Identify potential customers and assess their fit for your offerings.
3. Social Media Engagement: Monitor mentions, shares, and reach to gauge brand awareness generated.

Post-Show

1. Cost per Lead: Analyze the efficiency of your lead generation efforts.
2. Sales Conversion Rate: Track how many leads convert into paying customers.
3. Speed & Depth of Follow-up: Measure the effectiveness of your post-show outreach.
4. Net Promoter Score (NPS): Gauge customer satisfaction and brand loyalty.

By tracking these metrics, you can gain valuable insights into your trade show performance and optimize your strategy for future events.

The Importance of Trade Show Lead Capture

Trade show lead capture technology has come a long way in the past 10 years. In the past, you had to rely on the show’s default lead capture provider. But that’s not true anymore. There are companies, like Captello, that allow you to use the same lead capture software at any show and on any device. This universal lead capture software is customizable to each exhibitor’s needs and seamlessly integrates into most CRM programs. All that makes tracking your metrics much easier. Best of all, you can determine and measure ROI for industry trade shows, the overall cost for each event, the average cost per lead, and the average cost per opportunity.

However, there’s more to lead capture than choosing a technology. How do you maximize your ROI? 

Preparation:

• Lead Capture Forms: Design a digital or paper form capturing relevant information (name, company, contact details, interest level). Keep it concise and mobile-friendly for digital forms.
• Offer Incentive (Optional): Consider offering a giveaway, discount, or entry into a contest in exchange for lead info.
• Lead Capture Technology: Explore options like lead capture apps, badge scanners, or business card scanners to streamline lead collection.

During the Show:

• Friendly & Engaging Staff: Train your booth staff to greet visitors warmly, answer questions, and collect leads effectively.
• Clear Value Proposition: Communicate your company’s value proposition and how your offerings address visitor needs.
• Lead Qualification: Don’t just collect names! Briefly qualify leads to identify their fit for your products or services.

Post-Show:

• Prompt Follow-Up: Reach out to captured leads promptly (within 24-48 hours) to keep your brand top-of-mind.
• Segment Leads & Personalize Outreach: Categorize leads based on interest level and personalize your follow-up messages accordingly.
• Integrate with CRM: Import leads into your Customer Relationship Management (CRM) system for efficient nurturing and sales follow-up.

Lead capture, just like your overall trade show goals, requires a strategy to maximize the benefits of this technology. Most importantly, it requires discipline. Everyone on your team must understand the goals and expectations and be committed to capturing the required information. It’s easy to get distracted during the chaos of a trade show, but the most successful exhibitors don’t waiver from their mission.  

An Alternate Trade Show Measurement – Return on Objectives

Traditional trade show measurement focuses on Return on Investment (ROI), which looks at revenue generated compared to the cost of participation. However, ROI doesn’t tell the whole story. Many companies attend trade shows for reasons beyond immediate sales. This is where Return on Objectives (ROO) comes in.

ROO measures how your trade show participation met your non-sales goals. These goals can be diverse, such as:

• Brand Awareness: Did the show increase brand recognition and visibility among your target audience?
• Product Launch: Did the show successfully generate interest and excitement for a new product or service?
• Lead Generation: Did you capture a significant number of qualified leads for future sales nurturing?
• Market Research: Did the show provide insights into customer needs, preferences, and competitor activity?
• Media Exposure: Did the show generate media coverage and positive press mentions for your company?
• Networking & Partnerships: Did you connect with potential partners, distributors, or influencers?

Since ROO deals with qualitative aspects (vs. qualitative data), calculating it doesn’t involve a single formula. Here’s how to assess your ROO:

• Define Clear Objectives: Set specific, measurable, achievable, relevant, and time-bound objectives before the show.
• Develop Tracking Metrics: Identify relevant metrics to gauge progress towards each objective (e.g., number of leads captured, social media mentions, media coverage).
• Collect & Analyze Data: Gather data during and after the show using your chosen metrics.
• Evaluate & Interpret: Analyze the data to see how well you achieved your objectives.

Here are some examples of ROO measurement:

• Brand Awareness: Track social media engagement, and website traffic, or survey attendees on brand familiarity before and after the show.
• Lead Generation: Measure the number and quality of leads captured, focusing on relevant demographics and buying intent.
• Media Exposure: Monitor media coverage generated during and after the show, analyzing reach and sentiment.

By focusing on ROO, you benefit from a comprehensive understanding of the value your trade show participation brings beyond just sales figures. This allows you to refine your strategy and optimize your trade show experience for future success.

Maximizing Your Trade Show Investment

Whether you’re measuring ROI or ROO, your trade show investment must include a detailed trade show budget. If you haven’t created a budget yet (and are confused about where to start), we’ve got you covered. Let’s start by defining what we mean by trade show budget. 

A trade show budget is a plan for how much money you will spend on a trade show. It should include all of the costs associated with the show, such as booth space, exhibit design and construction, freight, sponsorships, travel, lodging, marketing, and staffing.

The size of your trade show budget will depend on a number of factors, including the size and type of show you are attending, the cost of booth space, the complexity of your exhibit, and the number of people you will need to staff your booth.

For a detailed explanation of how to create a comprehensive trade show budget, plus detailed tips on the following topics, see 10 Strategies to Maximize Your Trade Show Budget.

Professional Management for Enhanced Trade Show ROI

Whether you’re new to trade show marketing or an accomplished trade show veteran, your ability to track, measure, and report your trade show ROI will determine not only your trade show marketing budget but also how to guide your trade show strategy toward successful results from show to show and year to year. 

The professionals at Exhibits Northwest know this and have assisted thousands of clients with creating and refining their ROI strategies. You can rely on their professional trade show management services.  

With over twenty years of experience designing, building, shipping, and storing trade show displays, the ENW team can assist you with the nuances and complexity of trade show marketing. And if you want your new exhibit to impress trade show attendees and draw crowds to your booth, then we’ve got that covered too.