How can you effectively report your Trade Show ROI to stakeholders?

Assuming you know your sales org metrics...ie... - Length of sales cycle to close net-new business - Net-new prospect close % - Average net-new deal size - Intro net-new meeting close % using a Referral - % of current clients the sales or customer success org up/cross-sells You can then determine trade show/event ROI by... - The # of qualified net-new prospect meetings that took place at the event and what % of those agreed to a post event follow-up meeting - How many Referrals were generated which will lead to (X#) of net-new meetings - How many meetings took place w/ current clients

Return On Objectives (ROO) is a much better and direct approach to measuring results of participating in a trade show, since linking trade show costs to revenue impact is not always possible or useful. ROO is focused on defining and achieving specific, measurable business objectives. You must be able to set these objectives with clarity in the planning phase, and such objectives must be aligned with your business' general strategy. ROO will help marketers assess what's really driving their trade show marketing strategy. In contrast to ROI, ROO metrics favors long-term thinking and innovation. ROO metrics can still be linked to ROI if required, but measuring non-sales objectives should be a priority when participating at trade shows.

Setting clear and realistic objectives is pivotal before attending a trade show, aligning actions with business goals and marketing strategy. Define what you want to achieve and establish measurable success criteria. Objectives may include increasing brand awareness, generating qualified leads, launching products, building relationships, or staying updated on industry trends. Ensure SMART objectives—Specific, Measurable, Achievable, Relevant, and Time-bound. For instance, instead of a vague goal like "generate leads," aim for "generating 100 leads with a 20% conversion rate within three months." This precision enhances focus, accountability, and the likelihood of achieving tangible results from your trade show participation.

All items mentioned here are vital, I use momencio to automatically track/ follow up/ get intelligent reports on event and trade show ROI. This has gradually increased budget allocated to events, it is very helpful.

ROO should be explicitly stated before signing up for a show, or the purpose of going is not defined enough yet. This includes metrics such as prospect #, meetings and follow-ups booked, number of deals closed, or even "softer" measurements such as social media followings.

To determine trade show ROI, meticulous tracking of both costs and benefits is essential. In my experience, costs encompass registration and booth fees, travel, marketing materials, staffing, and technology. I recommend using a detailed spreadsheet or software tool for systematic recording and categorization. Benefits may include sales, leads, media coverage, customer satisfaction, or market research insights. Assigning a monetary value to each benefit, even indirectly related to sales, enhances accuracy. For instance, estimating lead value based on customer lifetime value or attributing a value to media mentions considering reach and impact significantly refines ROI calculations.

Make sure to crunch those data digits and calculate the nitty-gritty details like costs, leads generated, and conversion rates. Throw in some charts and graphs to keep things visually sharp. But when you're talking to the higher-ups, break it down in simple terms - what worked, what didn't, and how it's impacting the bottom line. It's like translating the numbers into a story that everyone can get behind.

This formula considers the net profit gained from the trade show and subtracts the total costs incurred. The result is then divided by the total costs and multiplied by 100 to express the ROI as a percentage. This calculation provides a basic but effective measure of the financial success of your participation in a trade show.

In optimizing your ROI performance, elevate your approach beyond conventional reporting; consider it a perpetual refinement journey. Beyond acknowledging triumphs, dissect gaps to uncover avenues for enhancement. Act on recommendations, meticulously monitor progress, and scrutinize outcomes. Embrace flexibility by dynamically adjusting objectives and tactics, creating an adaptive feedback loop. This iterative method not only amplifies your trade show ROI but also fosters a data-centric marketing strategy, showcasing the tangible value of your participation convincingly to stakeholders.

To comprehensively assess trade show performance, consider factors like time, quality of leads, attribution to overall strategy, and potential risks. Adjust the ROI ratio using methods such as discounting, weighting, multiplying, and sensitivity testing. This nuanced approach provides a more accurate and insightful evaluation for informed decision-making in future marketing efforts.

Think about your audience more than your results and integrate a "Narrative Reporting" strategy. Weave a compelling story around the ROI data, providing context, and aligning with the overall business narrative. Frame your report as a journey, -objectives and challenges, results and insights, and conclude with actionable recommendations. Craft a narrative that engages stakeholders, making the data more relatable and impactful. This approach not only facilitates better understanding but also emphasises the strategic implications and opportunities inherent in the ROI results. Tailor the narrative to address the specific interests and concerns of different stakeholder groups, ensuring a more personalised and influential reporting process.

After calculating and refining your ROI, present a concise report to stakeholders. Include an executive summary, cost and benefit breakdown, comparison to benchmarks, visual representations, a SWOT analysis, and recommendations. Tailor the report to meet the specific needs of the audience, emphasizing bottom-line impact for management and operational details for the team. This ensures a clear and effective communication of insights and actionable recommendations.

Reporting your trade show ROI marks the beginning of a learning and optimization phase, not the end. Celebrate successes and analyze gaps to pinpoint areas for improvement. Implement recommendations, monitor progress, and track outcomes. Adjust objectives and tactics as needed, and repeat the cycle for the next trade show. Following these steps not only effectively communicates ROI to stakeholders but also demonstrates the ongoing value of trade show participation in refining and enhancing your marketing strategy.

A return on investment pertaining to exhibiting at a trade show can be determined when compared to any other form of sales promotion. The many unique features exhibiting a carefully selected show enabled direct comparison to most all other forms of promotional. Providing the show is appropriate, and products on display are relevant and sold through a sales team. The cost, effectiveness and time saved to close deals far exceeds those variables in most any other environment. Add to the equation that technical, management and executive support are all on the sale at the booth and the fact that customer is calling on the exhibitor, makes ROI much more appealing.

Give real numbers. Our AI based crowd counting system will give you all the figures and graphs you need for your next meeting, showing you minute by minute attendee numbers, and which zones of your booth were most popular, how long people stayed, etc. No more dependence on badge scanning.

Less than half of all exhibitors routinely measure trade show ROI. Considering the substantial investment, any consistent measurement is better than none. The most rudimentary way to obtain some type of ROI: # of leads obtained by show, sales at show from leads, sales within 1 year of that show from leads. After you've effectively tracked that for a year, you can try to tackle and sort customer sales vs. prospect sales, etc. IF you're doing the above, you're doing a better job measuring ROI than 50%+ of all exhibitors. And of course sales are only part of the benefits to exhibiting at trade shows.

When you really think about it, metrics like "Cost per Lead" and "Cost per Sale" and "Cost of Revenue" are much more helpful than bland "ROI." Consultants will often cut expenses to increase ROI -that sounds good, but it's a net zero because the revenue doesn't change. Cutting cost per lead by qualifying more leads, collecting more lead information, and setting more appointments will generate more meaningful revenue, whether you cut costs or not. Understand what a first year customer is worth, the lifetime value of a customer, and the minimum value of a first time sale. Understand the geometry of your company, so you can see how the leads that you put into your CRM will generate revenue, repeat business, and referrals over time.