Most business owners think of the investment in trade show exhibits as a way to bring in sales. That’s one of the key benefits of using trade show services in the first place, but there are other, non-monetary benefits that exhibits can offer to your company and your product as well. Look beyond the bottom line to see the value in your trade show exhibit.
In fact, many exhibitors use trade show marketing for many other reasons, where clear monetary value isn’t the end goal. If that’s the case for you, or you are looking for other types of value that exhibits can offer to you, the question is, how can you measure the success and value that these exhibitions can truly offer? Why put your time and money into them?
Surprise Benefits of Trade Show Exhibits
There are various ways that trade show exhibits can offer value to your company. While you may see it as a tool for adding sales, it can also:
- Help you build your company’s brand. Brand image is one of the most important components to your success today. It’s what gets shared on social media, talked about at the office and thought about when your service becomes necessary.
- Help you gain and retain your market share. That’s essential in today’s globally-connected, highly competitive market.
- Save you money and time later. In short, because you are meeting with decision makers right at the trade show, there’s less time spent on lead generation and follow up later.
These are the key ways that exhibits benefit companies, but how does this impact your company’s success? What’s the return on investment here?
How Do You Calculate ROO?
Instead of looking at it as a return on your investment, think of it as a return on objectives (ROO). Your objectives are listed above. Now, consider these tips for determining its value with trade show exhibits:
- Determine your specific goal. List what you want to accomplish, which may mean building better brand recognition or to establish new customer contacts.
- Determine who your target customer is. Who do you want to talk to at the trade show? Who is going to be your decision maker?
- Set a benchmark for interactions. How many people do you aim to talk to and interact with? Who do you want to get your objective in front of at the event?
- Set performance indicators. How will you determine how many people you’ve talked to? You may be able to use your website’s traffic or the number of surveys are completed.
- Set some goals for next time. Use what you’ve learned to establish new guidelines.
Ultimately, you want to improve how much money your company is bringing in, but to do that you have to think long term. It’s just as important to create objectives that help you to build value in your company. In the end, it will lead to clients and a return on investment.