Which Elements Of Your Exhibit Are Costing You Money?
Achieving maximum return on investment in at a trade show is not only the result of big ticket successes, it can also come from streamlining smaller activities. To identify weak links, try these evaluation techniques.
Re-Evaluate Marketing Goals
Double down on your original marketing goals. Remember that ROI is a fixed concept. Spending money on anything should theoretically generate you more money in return. Show X may have theoretically generated less actual money than Show Y, but the quality of the leads you picked up at Show X may more than make up for the difference. So, to truly arm yourself with actionable information, you need to have a clear idea of where you're starting from.
Break your entire exhibit down into individual expenses. It sounds daunting, but remember everything has a dollar value and if you really want to find the weak links, you need to know what they are. Include expenses before and after the event, too. Account for everything — from the money it cost to rent your space to the party you threw for leads afterward, to flights, travel and transportation expenses, hotels and accommodations, food for your team members and more.
Compare Intent to Impact
Finally, start looking at what specific actions were intended to do vs. what they actually accomplished. Say you spent $10,000 on a party on the final night of the show at a local restaurant for leads. Other than providing a great time for everyone involved, what did it really accomplish? Did it generate X number of additional leads over that trade show where you didn't throw a party? Did it increase the projected engagement of those leads by Y%? Did it do nothing but eat up $10,000 out of your budget?
When you start to think about things in these macro terms, you'll be able to identify the weak links in your exhibit budget incredibly quickly. Then you can reallocate mission-critical funding elsewhere, strengthening your entire exhibit across the board.