How to Identify & Track Your Trade Show Goals

May 30, 2023
How to Identify & Track Your Trade Show Goals

Contact us to speak with one of our knowledgeable trade show professionals and receive a FREE DESIGN QUOTE.

Do you ever get a pit in your stomach right before the start of a trade show? Maybe you should ask yourself,

“What am I doing here?”

There is a way to feel confident at your next trade show using the following three steps to clarify, set goals, and track your trade show success. Having defined goals will keep your company on track throughout the design process and make measuring your ROI easier.

First, Clarify Your Trade Show Objectives

Why are you spending money, resources and valuable time to attend a show?

  • Are you trying to increase sales by gaining more qualified leads?
  • Showcasing or unveiling new products?
  • Do you want to network with other industry professionals or vendors?
  • For publicity or to build brand awareness?
  • Do you want to see what your competitors are up to?

Once your objectives have been identified, choose only one or two and focus. It can be tempting to paint with a broad goals brush but this will only dilute your efforts. Effective programs identify key objectives and gear all efforts towards achieving that goal.

Second, Set SMART Goals for Your Trade Show Participation

Set goals that are Specific, Measurable, Attainable, Realistic and Timely (SMART).

When you set SMART goals for your organization, make sure they are appropriate for your defined objectives, and relevant to how your industry conducts business. Be aggressive and optimistic but don’t set yourself up for failure. All your team members must be on the same page when it comes to the definition of success, the time frame, and how results will be measured.

Goal examples:

  • Generate a 20 percent profit margin for the event (using pre-established ROI metrics)
  • Generate a 50 percent increase in website traffic within two weeks post-show
  • Increase sales that come from leads generated at the trade show by 25% compared with last year (within a 6 months sales cycle)
  • Schedule 45 sales appointments at the event
  • Capture contact information for 12 new vendor prospects during the event and establish relationships within 2-weeks
  • Capture contact information for 15 new talent/employee prospects during the event
  • Increase booth attendance by 30 percent over last year

Third, Track Trade Show ROI

Define your lead generation ROI metrics before you design your program.

There are multiple ways to measure ROI but these two are the most common.

  • ROI = (Event-Related Sales - Event Costs)/Event Costs
  • ROI = ((Number of Event-Related Leads x Value of a Lead) - Event-Related Costs)/Event-Related Costs

The ROI measurement you choose should be based on the buying cycle time frame that is specific to your industry. It is unrealistic to expect that your company will come back from a show the first year with data sufficient enough for determining if exhibiting was, in fact, worth the time and money spent.

We recommend attending the same show for three years, using the first year as a baseline. In the second and third year you should see increases in sales and qualified leads generated. You should continue to re-evaluate your goals and budget allocations every year. Exhibiting in trade shows can be a great investment if you continue to measure your results and fine tune the program as you go.

The best in the trade show business know that a comprehensive, strategic approach is the best way to build an effective display and successful event program. Your vendor should ask about your goals, and should be eager to help you craft your implementation strategy.

Share your goals with your trade show display vendor to craft the best strategy for design and implementation.

Nomadic offers a free consultation with one of our seasoned trade show pros to deep-dive into your program goals and explore how we can help you achieve them.

Planning for Long-Term Success: The Importance of Evaluating Your Trade Show Participation Over Time

It may take years to accurately determine if exhibiting was worth the investment. Plan to participate in a show for at least three years to have a clear picture of the impact on your company. Use the first year as a baseline. In the second and third years you should see an increase in sales and in the number of qualified leads you generate. Continue evaluating your goals, strategy, and budget allocations each year.

Exhibiting in trade shows can be an excellent investment as long as you measure your results over time and have realistic goals.

Contact us to speak with one of our knowledgeable trade show professionals and receive a FREE DESIGN QUOTE.

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