 |
|
|
May 2004
ROI is more than just leads
According to the recently released 2003 Industry Trends Report by TSEA, only 36 percent of exhibitors are required by management to measure ROI at all shows, 29 percent are required to measure it at large/major shows, and 35 percent aren’t required to measure it at all.
And how do those who measure ROI accomplish the task? Eighty-three percent count and evaluate the quality of leads, 86 percent rely on feedback from exhibit staff, and only 56 percent track sales from leads. So there’s no evaluation of the audience — quality or quantity. No evaluation of the program content or networking opportunities. And, perhaps most glaringly absent, no evaluation of the exhibitor side of this equation — effectiveness of booth design, graphics, pre-show promotion, etc. Our shows are being entirely measured by leads.
I’m sure most exhibitors would argue that that’s the proper method for evaluating shows. And I might agree if exhibitors would take into account their part of the process for generating those leads. But let’s face it, at least for now, the responsibility for proving our show’s value is on our shoulders. And many show organizers are becoming very creative in how they prove value to exhibitors — those who request it and those who don’t.
Some are conducting attendee surveys and providing exhibitors with proprietary research about their company’s products and their trade show performance. For example, how did their product compare on site with competitors? Had the attendee seen or heard of this product before the show? Did their impression change after the show? Were inquiries followed up?
Others are more actively matching exhibitors with buyers. More and more are implementing software to pre-qualify attendees, based on their budget and product interest, and facilitating exhibitor meetings at their shows. At the National Association of Chain Drug Stores, 560 people participate in 9,800 appointments in eight hours. (See Best Practices, page 26.)
In addition, others are auditing their shows and providing exhibitors with third-party verification of attendee titles, buying power and key demographic data. TechTarget, an integrated media company serving the IT industry, recently released audits for all of its 2003 conferences, indicating that 100 percent of attendees are involved in purchasing decisions. (See Trading Places, page 46.)
In addition to providing a method for measurement, these practices have the added benefit of serving as an internal tool to identify areas of improvement. Do we, in fact, have the right buyers on the show floor? Do we have product introductions that match attendee interests? Are our exhibitors properly managing their participation?
Yes, it’s extra money. Yes, it’s extra work. But for the 36 percent of exhibitors required to measure ROI, we might be providing just the documentation necessary for a return next year — or a bigger booth. And for the 35 percent who measure nothing, we’ll be seen as a proactive partner actively participating in helping guarantee their ROI.
Danica Vasos, Editor
Comments for the Editor |
|
|
Stay informed with Expo's weekly e-newsletter:
Get daily industry news via RSS  What is RSS?
|
|
|
|
