Are you ramping up to attend your next trade show? Exhibiting at trade shows is an effective marketing strategy to highlight your products and services, generate leads, and build relationships with potential customers. Sometimes, assessing the effectiveness of your trade show exhibit can take time and effort. Setting specific, measurable goals to direct your efforts and quantify your success is essential. So, what KPIs (key performance indicators) should you be monitoring?
Lead Generation
Generally, companies have determined their own lead processes. Whether it’s an online form or another method, getting a lead indicates genuine interest from a potential customer, which makes them toasty. They are familiar enough to be interested, but not quite hot enough to proceed with a commitment. It is essential to track the quantity and quality of leads generated to evaluate the effectiveness of your exhibition and ensure you are leaving an impression. Quantify the number of leads that come in and categorize them according to their level of interest.
Sales and Revenue
This is the ultimate goal, right? Considering the revenue generated due to the impression you made is essential. But how do you measure this? While on the trade show floor, track the number of sales you make from being there. Whether you’ve closed a deal there or later, understanding that the contact was made through your impact at the trade show will be important to note. Measuring the number of sales generated during the event can help you evaluate the ROI (return on investment) of your trade show exhibit.
Engagement
Who is visiting, and how long are they hanging out? Engagement metrics measure how many attendees stopped by your booth, how long they stayed, and how many interactions they had with your team. These metrics help you understand how well your booth attracted visitors. When designing your exhibit experience, the goal is to give attendees enough information but leave them curious enough to continue their exploration. It should drive them to chat with your team, so your team members can do what they do best – sell!
Social Media Metrics
In today’s digital age (especially post-pandemic), social media has become a powerful indicator of a trade show exhibit’s success. Track metrics such as likes, shares, comments, and follower growth to understand the reach and impact of your exhibit. Make sure to include hashtags that are relevant to your event to get more exposure. Driving attendees to follow your social media ensures that you will be able to get in front of them repeatedly in the future.
Website Traffic Tracking
QR codes are an attendee’s best friend. Trade shows can be information overload for attendees. Creating materials to drive prospects to your website provides them with more information about who you are, what you do, and the impact that your product/service could have on their organization. Use web analytic tools to track website traffic and identify the most popular pages. Take it a step further and include different tracking URLs that indicate where the QR code was scanned, so you know what areas in your booth are the most popular.
Competitor Analysis
What are your competitors doing? Monitoring their activity and generalized performance at the trade show can provide valuable insights into industry trends and where you stand versus your competition. Take notes on your competitors’ booth design, presentation, and engagement tactics.
Surveys and Feedback
Gathering feedback from attendees and your team can provide valuable insights into what worked well and what needs improvement. Consider using post-event surveys or feedback forms to gather feedback. Be sure to ask meaningful questions that will easily identify the opportunities for improvement but keep your overall survey short. There are many resources available online that provide examples of feedback surveys that would be helpful.
Ready to talk trade show? Contact us at E3.
