Executing a successful trade show appearance is no small feat.
But how do you define “success” at trade shows?
When it comes to answering your boss or the management, “everything went great” just won’t work. They want facts, and what better than cold hard data to make your point? Return on Investment (ROI) and Return on Objective (ROO) are two popular ways to determine whether your exhibition outing was successful.
What are Trade Show ROI and ROO?
Here’s what these trade show metrics mean and how you can calculate them to analyze your performance-
Trade Show ROI
Trade show ROI metric measures the total revenue your participation generated against the associated costs. ROI is mainly relied upon when exhibitors have sales-related objectives.
Trade Show ROO
Trade show ROO measures how your participation in a particular exhibition helped the company achieve its non-sales objectives. For instance, you can use ROO for objectives such as building brand awareness, launching a new product, or media exposure.
How to Calculate Trade Show ROI?
Measuring trade show ROI is fairly straightforward. However, if your company has a longer sales cycle, the calculation can be time-consuming. Here are two ways to calculate trade show ROI-
1. Revenue & Investment
Trade Show ROI = (Revenue - Investment) / Investment
For example, if your trade show participation generated $50,000 in revenue while the total investment was $25,000, here’s what the ROI will be-
Trade Show ROI = ($50,000 - $25,000) / $25,000 = 1
An ROI of 1 means a 100% return on investment.
2. Cost Per Lead
If your trade show objective is generating qualified leads, here’s a formula you can use-
Cost Per Lead = Investment / Leads
For example, if you invested $25,000 on a trade show appearance and generated 400 leads, the cost per lead would be as follows-
Cost Per Lead= $25,000 / 400 = $62.5 per lead
You can compare the cost per lead against other lead collection methods you use to analyze whether your participation was successful.
How to Calculate Trade Show ROO?
There are no formulas for calculating ROO. This is one of the reasons why you should always start your trade show planning by finalizing what you’d like to achieve at the event. It will ensure that the management is on board with those objectives and every aspect is planned accordingly.
Nevertheless, here are some of the most common ROO goals with some handy methods to analyze performance-
Analyzing Your Trade Show Success with ROI and ROO
Calculating trade show ROI and ROO is essential to justify the event expenses. It also offers valuable insights into analyzing, planning, and executing improved strategies for future events.
In order to get closer to your trade show objectives and attract more attendees to your booth, you should also work on an engagement strategy. For instance, trade show games like custom trivia are a big hit among visitors as they add a unique and fun element that helps your booth stand apart.
You can contact us to learn more about trade show ‘gamification’ and how it can help you create a buzz and collect more leads.
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