Measurement Tip 26

Measuring The Exposure Generated at Trade Shows and Events

 

Ask a marketer why his company attends trade shows and events and his first answer will likely be “Exposure,” “Branding,” or “To maintain a presence in the industry.” Generating leads or influencing sales are usually cited after exposure related goals. However, few companies have a method to measure this exposure. Instead, most companies base their success or failure on the number of visitors to the exhibit and the number of leads generated. Both are important indicators, but more is required to provide a good indication of the value of exposure.

For these reasons, it is important for companies to develop a methodology for measuring both the quantity and quality of exposure at trade shows and events. Exposure provides a surprising level of value and is an important element in justifying participation and expense. Measuring exposure can also provide a better understanding of how events factor in the overall marketing mix. With it, marketers can compare the value provided by the event program to that of advertising, promotions and other marketing media. Exposure evaluation also provides insight into how events generate leverage for other media.

 

Measuring Quantity of Exposure

The amount of exposure is the obvious place to start. One technique for measuring exposure is to estimate the number of audience impressions achieved by various tactics and activities associated with participation in a specific trade show or event. A forecast estimate of potential impressions can be used for decision-making regarding the size and types of presence and promotion activity at an event.

The following methodology is a simplified overview of how to measure the quantity of impressions generated at an event. We will assume that the marketer researched the event and ascertained that the target audience will be present in sufficient numbers that justify participation. 

First, obtain an accurate count or develop an estimate of 1) total show attendees and 2) the subset who fit your target marketing profiles. These numbers are essential in calculating gross and targeted impressions. Gross impressions are a count of the number of times your messages, or product or company brands are seen or heard by anyone at the show. Targeted impressions, i.e. visual and audible connections with those attendees who fit your target audience profiles, will be a subset of your gross impressions, among those who fit your target audience profiles. Gross impressions have value. For example, highly respected and well-known brands tend to perform better in financial markets. Targeted impressions have an impact upon sales ready prospect development and probability of sale.

Next, approximate the number of times individuals are exposed to your individual event marketing program elements. For example, the number of times the typical attendee will pass your exhibit over the course of the show will be based on factors such as your location in the hall, the number of exhibition hours and days and the number of other exhibitors competing for their attention. For instance, if your exhibit is in the front of the hall and the show is three days in length, you might conclude that the average participant passes your exhibit coming and going from the hall on two of the three days. That would provide an four opportunities to see for the entire group of exhibition participants. If the exhibit is in the rear of the hall, the average attendee may pass only once during the show providing only opportunity to see. (Obviously not every person will see your exhibit, however many people will see it multiple times. For simplicity, we assume they somewhat cancel out unless there is more sophisticated tracking in place.)

You can analyze all other aspects of show participation in the same way. Pre-show communications, such as a direct marketing program provide the opportunity to make several impressions on each attendee with a heavy concentration on targets. A banner in the front lobby may be seen multiple times daily by most participants. A sponsorship may place your logo on signage, print and web media giving you even more impressions per attendee. An ad in the show program might give you one additional impression per attendee, while an ad on the back cover of that same program might give you three or more.

After you have identified the number of gross impressions each element of your marketing program is likely to produce, you can estimate the number that were actually targeted impressions using percentages derived from studying the show demographics and your own exhibit visitor demographics if you track them. You would use a much higher target factor for a targeted mailing than you would use for exposure to your exhibit.

If advertising is part of your show plan you may include impressions from that as well. With the estimates of total gross and targeted impressions you are armed with an important answer to the question “What do we get out of this show.” 

Estimating the Cost and Value of Impressions

If you desire you can report a qualitative but useful value of the equivalent cost to generate impressions created through an event by other means such as advertising or direct marketing. Other marketing campaigns may be measured by numbers of impressions, resultant qualified sales leads, contacts and closed business, etc. That would be a useful structure to apply to your event marketing element. This estimated value can help justify your show investment. A case in point is a division of 3M that used a particular show to introduce a new product to the market at a very well targeted show. Unaided awareness of the product name and description was measured after the event and extrapolated to a percentage of the entire U.S. market. The advertising and corporate communications VP estimated advertising expense required to create an equivalent level of unaided awareness among targeted buyers was more than twice the entire show budget! And speed to market was cut by over approx. 50% due to the "sales call equivalents" held at the show that would not have occurred with advertising. 

These same concepts can be used to estimate the value of sponsorships and promotion opportunities offered by a show or event. Estimate the number, types and value of the impressions a sponsorship will generate. Add in some qualitative evaluation such as the good will that will be extended to the host association for example. This assessment of potential value will help you evaluate which opportunities will likely to give you the largest return on investment or perhaps lead you to negotiate the cost using your estimated value. 

Measuring Quality of Impressions

The next step is to measure the quality of the impressions you’ve made. This gauges your efforts’ success not just at getting in front of your audience, but in creating the impression or image you want. It is a valuable tool that enables you to identify your success and pinpoint specific weaknesses that can be improved upon at future events.

The best way to get a definitive reading on the quality of the impressions made at a trade show or event is through a formal survey. Many marketers skip this step and base their evaluation on the feedback they receive from the customers and prospects they meet with at the event, but this method comes up short because it ignores those who didn’t interact with your staff, thereby failing in the opportunity to learn how to attract them next time. 

Start with a blind, pre-event benchmark study to ascertain the current level of awareness and the perceptions of your company or product represented in the event audience. Repeat this after the event to see what you’ve accomplished. Your accomplishment will be the movement of each variable in a positive or negative direction. Include questions that document the retention of specific messages, quantify the recall of your presence in comparison with your competitors, and give you the opportunity to learn how to connect more effectively with your audience in the future. You can even re-qualify the potential of the event by finding out what percentages of the participants have interest in your products and services. There are a number of specific measurements such as purchase intent, brand preference and net promoter™ scores that can be applied to assess the quality of your communication. 

Measuring the quality and quantity of exposure at trade shows and events gives marketers data on their return on investment that goes beyond the more obvious measures of leads and sales. It gives a true picture of the value received and goals accomplished in proportion to the dollars spent, in terms that are readily compared to the results from other marketing activities. And, because relatively few other companies are doing this, you can get a jump on the competition.

Heather DeLoach

Project Manager, Constellation Communication  

For assistance with your trade show and event marketing program, please contact Constellation Communication +1.770.391.0015

*Net Promoter Score is a registered trademark of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.

 

Measurement Tip 24

Understanding the Value of Conferences

Is your conference an expense or an investment?

Many organizations regard their conference as a necessary expense, one that serves to educate customers to be successful in using products or influences employees to do a better job.  Having evaluated and measured a variety of conferences, we found something different. In this tip, we explore how conferences deliver real, near-term profit improvement beyond the conference.  And, we look at how a great conference can influence other objectives such as organizational growth and customer retention.

The conferences that deliver the most value for the organizer or host have a common characteristic; they successfully provide value to all of the other players in the conference ecosystem.  Simply stated, organizers attract participants through valuable offerings and content.  Sponsors and exhibitors seek valuable access to targeted, high-value participants. Sponsors and exhibitors provide the organizer with valuable funding and support in return for access. The organizer perpetuates and grows the cycle.  All participants seek value in return for their contribution of time and money and smart organizers and hosts ensure that it is provided. 

In addition to profit improvement, the well-planned conference also serves the organizer’s overall mission and goals. For example, many associations seek membership growth, in part, by providing great value to their members through the conference experience.

For those of us with interest in exhibitions at conferences, numerous studies have shown that that exposure to content provided by sponsors and exhibitors is an integral part of conference participant value and satisfaction.  When the organizer and the sponsors and exhibitors are attuned to the strategic needs of the participants, the momentum builds quickly. Intra-event communications using digital and social media make it possible to learn from members as well as serve their needs between events.  

Increased revenue and expense reduction resulting from conference participation – after a successful conference participants may take actions that result in improved business results for the host.  Here are a few of the most likely results:

Increased Sales –

Participants will make upgrades to systems and products and purchase new offerings learned about at the conference.  Designers or integrators may incorporate more of your products into their designs and offerings.  Applicable measures: Conference related sales

Reduced Support Requirements –

• Participants will have less need for technical or customer support through knowledge gained at the conference.  Applicable measures: Changes and cost associated with levels of customer service access and requirements

Enhanced Loyalty, Customer and Revenue Retention –

• Retention of the participants’ existing level of business is ensured through enhanced affinity, familiarity with your company and product and reduced perceived risk. Applicable measures: Retention rates among conference participants vs. non-conference participants, Average revenue value of a customer, Cost of a lost account, Cost of a new or replacement customer.

Recurring or Repeat Revenue Growth –

• Participants experience personal and company success, leading to growth on the existing revenue stream. Many conference providers focus efforts to help their participants grow their own business, thereby increasing the demand for their own products.  Applicable measures:  Financial and growth performance of conference participants.  Associated sales volume.

Other Expense Reduction -

• Conference activities may produce cost savings in hundreds of ways.  Exploiting the time and place opportunity afforded by attendance at a conference allows a company to accomplish goals that would require additional time and expense to duplicate in the future and in different locales.  For example, teaching 3,000 customers at a conference the nuances of your upgraded product may be much more cost effective than sending field sales teams out to do the job on-site or relying on digital media.  Providing customers and prospects with access to your executives and experts may create an experience and exert influence that would not otherwise be possible or financially feasible. The possibilities are endless. 

Communications, Press and PR Value –

• Conferences can generate considerable press and PR exposure through conference related promotion, advertising and marketing campaigns.  The value of conference related promotion and earned media can be equivalent to several million dollars of advertising exposure for the host.  Inspiring the press to focus on your strategic initiatives, included in the conference content, is invaluable.

All of the above either impact the revenue or expense side of an organizer or host’s profitability or income. 

How can a conference help an organization to grow?

When participants and sponsors feel they derive great value, organizers may experience an increase in event participation and membership.

In my research I have learned some of what participants seek at conferences, related to their job:

Immediate Impact:

• The ability to make informed decisions
• The ability to make effective near-term changes and improvements
• To make connections with people and resources valuable in achieving improvements and goals
• To reduce personal and organizational risk (see what works!)

Future Results:

• To identify and consider influences that affect good planning

These may be regarded as “strategic needs” of the conferee.  Conferences that focus their content on these types of topics excel.  Exhibitors and sponsors who focus their messages and demonstrations for customers on these types of needs will be successful as well.  This provides a great basis for targeting the content of publications, and content delivered through education, digital, and social media on value for all concerned.  

As the word spreads of a conference’s value in meeting these needs, attendance will grow.  As it becomes apparent that a company or membership organization delivers a constant stream of strategic information, customers and memberships will grow too!


Ed Jones
President, Constellation Communication

To get started on your event marketing measurement program, contact us today at +1.770.391.0015 or edjones@constellationcc.com

 

 

 

 

Measurement Tip 16

Win Lose or Draw, How Do You Know?

The first question usually asked when an event’s marketing team returns home after a show is, “How did we do?” Many times the answers are simply opinions of the most obvious indicators based upon observation and gut feel. For example, “Did we have a lot of visitors?” “Did we get a lot of interaction?” and “Did we collect a lot of leads?” These answers may make us feel good (or unsettled) about our performance, but they do not easily relate our accomplishments to business profitability and Return on Investment necessary to satisfy those who provided the funds.

An opportunity to give you a concise picture of trade show marketing success and how it is reported arose from our evaluation of four companies exhibiting at the International Woodworking Fair (IWF) last week in Atlanta. This is the largest industry event of its type for the woodworking market and the event is organized and sponsored by a group of large trade associations. The audience is well defined by the show management. The show management provided a detailed audience demographics document before the show for exhibitors to use as a valuable resource. Success begins with choosing an opportune show and IWF was a good choice.

The following performance summary presents the key elements of a perfectly sized, successful exhibit at an attractive show. We refer to these variables as Key Performance Measures. They detail efficiency and effectiveness of the trade show marketing effort.

As you will see, the quality of the show has everything to do with the level of success and payback on the event. You cannot (usually) directly affect these variables, but you can choose events and “right-size” your participation based upon these characteristics.

*Note: These variables are based upon averages and assume an average level of visitor attraction.

The variables above are opportunities/limitations of the show attendance. It is possible to forecast your expected traffic before the event begins and to use that forecast to adjust or “right size” you exhibit size, layout and number of staff. What is your cost per buyer, and how much time do you get to spend with them?

For these variables it is important to understand that all “buyers” (as defined by show management) are not necessarily qualified to buy your product. Not all buyers who enter your exhibit will be valid prospects and not all buyers who enter will become engaged with your staff or demonstrations. It is therefore necessary to estimate the number of buyers who become actively engaged with your staff or demos, using the logical assumption that most people who are actively engaged are likely to be qualified. These are the buyers that you are paying to attract.

Only a percentage of your engaged buyers will commit to the desired “next step”. This number is derived from tracking your leads as a percentage of engaged buyers, show by show. The numbers highlighted in green are what you are really paying for.

Very tightly defined leads are much fewer in number but much richer in sales potential and eventual sales results. Therefore, just answering a question about your event’s success with “We got a lot of leads” may not be a true measure of success.

While looking at the number of visitors it is useful to evaluate how well we sized our resources. We refer to this as “right-sizing.” In this case, based upon the number of engaged buyers present per hour and an exhibit that is 55% available for occupancy (otherwise filled with cabinets and equipment) and calculated at 9 sq.ft. per visitor as “full” to capacity, the exhibit size required calculates to approx. 350 sq. ft. The calculation is weighted upwards slightly to account for peak traffic. Note that booth traffic does not come in evenly for every show hour. This method is the correct way to estimate and fund exhibit size and staff resources when planning for an upcoming show.

Marketing is generally about creating sales opportunities and improving the probability of sale. Trade show marketing should be focused on doing just that, among other objectives. Sales are the domain of the sales force. A good measure of success for a marketing event is to identify the “sales opportunity” it created for the company. To do so relies on a few essential elements:

1)Leads must be tightly defined as only qualified people who are committed to take a “next step” defined by the sales team, at a certain level in the sales funnel.
2)The sales team must indicate what the probability of sale is for qualified prospects who take the designated “next step”.
3)The sales team must provide an estimate of sales value for the average deal.

This may require a number of calculations for each product set. This also eliminates the argument on how much credit should be given for a sale to the trade show activity. The show marketing activity produced an opportunity. The sales team most likely closed it.

Events provide numerous ways to reduce the cost of doing business. Consider the savings from travel avoidance, logistical costs of providing customers and prospects access to inaccessible, large or heavy products and systems, business processes such as recruiting, and re-use of creative, deliverables and properties to name but just a few.

Events accomplish huge amounts of exposure for your company and products. The main alternative is advertising. This exposure is not free and has definite value. Consider giving your program credit for at least the cost to create the same exposure through advertising. Advertising equivalency may not be a popular measure in some companies. Still there is value here. Report the impressions and consider, even if only as a subjective benefit, the value achieved.

After considering all of the estimated benefits from all sources, this event paid off well, providing almost $3.00 for each dollar invested. If we remove the estimate of resulting sales potential, the payback remains positive at $1.86/1. Finally, cost savings alone (the most tangible of all these measures) justifies $.83 of every dollar spent on the event.

I would say we could safely conclude this was a successful event! The approach was correct, the exhibit and staff sizes were correct, the necessary numbers of buyers were engaged, enough bonafide leads were collected and the results in sales opportunity, cost savings and promotion were all favorable. Most importantly, we can show our results to upper management in a context of business improvement and return on investment.

It’s a WIN!

This content is subject to copyright 2012 by Constellation Communication Corp.

Measurement Tip 15

Start Your Measurement Before the Event Even Begins - Forecasting is an Essential Planning Tool and Can Pay Big Dividends

Forecasting can make a significant difference in how your event is perceived, how it performs and how it is evaluated. Forecasting is simply estimating, in advance, the results of your key measures and performance expectations for an event. By doing so, you can tailor your resource requirements and tactics for the upcoming event, e.g. adjustments to size, staff, spending and other activities based upon expected needs and results.

By forecasting an event, you can set realistic expectations with upper management and others regarding expected outcomes. This is extremely important as there is little you can do to deliver a successful result if executives and others already have unrealistic expectations for the results of an upcoming event.

Forecasting is also the tool that allows you to compare a new event that you may be considering with those that you are already doing. This is achieved by forecasting the results of a consistent set of key measures that match those you use to evaluate your current events. Additionally, the payback ratio can be estimated for a prospective event and compared with your existing events. The process is to simply rank all of your current events from best to worst using the most recent performance data and then add in the forecasted event results into the mix for consideration. You will be able to readily see where the new events fall among the existing ones. If the new events appear high on the list by payback, then you may consider eliminating or cutting back lower performing events in order to fund the newer ones.

One caution to consider is that you must ensure that lower performing events are not justified on qualitative factors alone, such as your company president being the chairman of the event sponsor association, etc. When the qualitative considerations have been made, you are ready to total up the expected costs and draw a line where spending meets allocated budget. This will provide the best mix of shows and will also equip you to represent suggested changes in the annual program to others (who may be quite fond of certain low performing events!) based upon fact and not just opinions.

The following variables can be forecasted for an upcoming trade show:

1. Estimating Resources

a. Size - Exhibit or venue size required to address the forecasted number of visitors at the event. Size is not a factor of visitor processing alone; it is also a consideration for your company’s visibility within the exhibit hall or venue.
b. Staff- Too many staff members are perhaps worse than too few. You can derive the correct number of staff required to handle the forecasted number of visitors to your exhibit for the show. Remember that sometimes experts are required to man a demo even though they may not get their share of visitors.
c. Cost– When size, tactics and staff are all adjusted based upon forecasted results, it is much easier to adjust the cost of the event with confidence. The optimum amount to spend on an event should be directly based upon the marketing opportunity associated with participating. This will allow your company to remix investment levels for maximum results.

2. Estimating Results
a. Number of Visitors
b. Number of Engaged Prospects
c. Number of Committed Leads

3. Expected Sales Results
a. Using the sales funnel approach, you can estimate the dollar value of the sales opportunity based upon the number of projected leads by product category.

4. Cost Savings
a. Estimating and then producing cost savings is a great way to enhance your plan and results.

5. Customer Relationship Management Value
a. Number of customers addressable at the event
b. Average value of a customer, and Addressable Current Revenue at the event
c. Cross Selling Opportunities/ Results
d. Account Saves and Associated Value

6. Promotion Impact
a. Number of Impressions (Gross and Targeted)
b. Advertising Equivalent Value (Media Value)

7. Payback Ratio and ROI
a. Estimate the probable value in categories of:
-New revenue (value of the sales opportunity, where practical)
-Customer Relationship and Retention Management
-Cost Avoidance
-Promotion (AVE)

Compare all of these to the event cost. This payback ratio is necessary for assessing the value, ranking and comparison of current or future events. Forecasting is an essential element in event marketing success. Otherwise, there is no way to know what results should be expected and thus how much to spend.

Event marketing budgets should be directly correlated with the opportunity an event presents. And as detailed before, your job will be considerably easier and you will get better results and recognition when you set realistic expectations internally with executives and others about expected results and justification for the investment.

Measurement Tip 14

How to Relate Objectives, Success and Measurement Around Three Factors that Will Make or Break the ROI on Your Event

In my classes I teach "Three Critical Success Factors" essential for trade show return on investment. These factors provide the template for a compelling set of measures of regarding what is most important and what will surely be of interest to your top management.

The "Three Critical Success Factors" are:

* You must attract enough of the right people to your exhibit or event (i.e. those individuals who can actually benefit your business)

* You must deliver compelling messages that motivate those people to act

* You must obtain actions from those participants that lead directly to profit improvement for your company (either an increase in revenue or reduction in cost)

The shorter, easier to remember version goes like this:

* The right people

* The right messages

* The right actions and results

If you miss any one of the three, you are not likely to justify your investment in the event. It is essential that they be executed somewhat in order. That is why pre-event and post-event activities are at just as important as event execution.

These ROI related success factors were developed from years of working with clients to create a solid bridge between sales and marketing. They are core to our event measurement and return on investment philosophy.
Of course, many other things must also go well for a successful result.

As I mentioned in the beginning, the following factors provide the template for a compelling set of measures of what is most important:

The right people

Determine the show demographics profile and know how many people attending the show fit your target profiles. Identify them to the individual level if the information is available.

Make a forecast of how many targets are there and how many you will see. Track the number of people who come to your exhibit or venue. Develop averages and totals for the program year.

Determine how many visitors are seriously engaged vs. just entering a drawing or making a casual walk-through. (Make counts during the events) Use exit polls or surveys while visitors wait for a presentation for example, to find our who is visiting your stand. Report all of these numbers and the mix of people by type in your show summary.

The right messages

The only way to know if your messages are resonating with customers and prospects is to ask them. Use exit surveys or post- show surveys to determine 1) Can anyone recall, repeat or describe what you were trying to tell them? 2) Does the message they retained have any potential effect on their role or plans? I.e., does the message you conveyed present a solution to problems or an improvement in a process or profitability? Do they believe what you told them? A great open ended question is to simply ask your visitors “What was the most important thing they learned during your visit?” Compare their answers with your communication objectives. Remember, “nothing” is a possible answer.

The right actions and result

What specifically will your visitors do as a result of visiting you? This is the most valuable question of all. If their intent matches with your desired follow-up behavior you are on your way to ROI. Are your visitors more inclined to do business with your company? Do they find your company to be a good fit for their needs? These elements can be determined with questions such as, “Do you plan to make changes (or a purchase) based upon what you learned today?" or  “Is it more likely that you will purchase products from us ?”, etc. These metrics are guaranteed to be of interest to the top management of your company.

Determining the number of visitors who actually take a prescribed step at or after your show is the ultimate measure of success. You may even be able to place a potential value upon those people taking that step if the step is one the sales team has defined and therefore knows the probable value associated with it.

Ed

Measurement Tip 13

A Year of Measurement Tips - A Review of Fundamental Concepts for Positive Event ROI!

One year ago I began this series of measurement tips with the theme of “How to become a manager of the business (not just of the events) by achieving and reporting accomplishments that address the profit equation of your organization.” I sincerely hope that most of your have found ways to do just that using some of the ideas and examples I have provided this past year.

Looking back over the twelve measurement tips provides a useful list of key ideas that we have shared and I believe should be an important part of your program and that will enable you to demonstrate direct influence on the profitability of the business:

1) Sales is your internal customer - Your relationship with sales will largely determine your success. (Tip 2 and 6)

2) What you measure will affect how you perform - Identifying what to measure about your event marketing program is an important step in putting your planning on the right track. (Tip 3)

3) There is more to a marketing event than leads - Cost savings and expense avoidance for your company can provide a large amount of event budget justification. (Tip 4)

4) Customer feedback is essential - The other arbiters of your program’s success are the customers and prospects themselves. They should be heard from regularly. (Tip 5)

5) Metrics such as indices allow you to compare and contrast events - Comparing events on an index basis, as with a payback ratio, is useful for identifying relative performance and improvement opportunities. New events that are only in the exploration stage can be compared to existing ones using a forecast of expected results. (Tip 7)

6) Critical Success Factors for event ROI, miss one and you are toast! - For marketing events to be successful and provide an adequate return on investment you must accomplish three things, in order: 1) You must attract enough of the right people, i.e. those with adequate responsibility of the action you expect of them, 2) You must persuade them to act through very effective messaging, demonstrations and environment, 3) You must tell them what you want them to do as a result of their visit and support them in taking that step. The count of those who take the prescribed step is most closely related to adequate ROI.
(Tip 8)

7) Your event staff is an essential ingredient of success - Staff must effectively engage and qualify visitors and persuade them to act. They are the ones who can best assess an event’s ability to provide a well qualified target audience, how well the environment worked to create persuasive interactions, and even how well your exhibit and activity compared with your competitors and others at the show. They can tell you best what should be continued or changed and even how best to participate in the same event next time. (Tip 9 and 12)

8) Nurture customers and protect the revenue base - Spending time and resources enhancing existing customer relationships and thereby protecting their revenue contribution from erosion or loss to competitors is a wise investment. (Tip 10)

9) Technology is our friend – Technology is making it easier to capture feedback, establish intra-event communication, build communities of interest and distribute meaningful content more directly and in new ways. Today, visitors come to trade shows and events with much more knowledge than they did in the past and expect a lot more from you when they visit. Mastery of digital and social media is essential and the use of technology for research is effective and cost efficient. (Tip 11)

10) Choose vendors who are interested in your success! - MC2 has been a good friend and partner with me in bringing a year’s worth of measurement tips to you through their eConnections Newsletter. They serve as a great example of a company focused on their clients’ goals. That is the nature of a strategic vendor, one that is essential to your organizational success. Thanks MC2!

I referenced all twelve measurement tips in this summary. You may find each one in complete detail on my ROI and event measurement blog: http://constellationcc.blogspot.com/

Best wishes for program and personal success!

Measurement Tip 12

Your staff is essential to obtaining, measuring and reporting great ROI on your events!

It is a demonstrated fact that a well trained staff delivers higher event payback. Did you know they are essential to measuring and reporting your results as well?

To be effective, exhibit and event staff must be clear on the company’s objectives for participating in a marketing event, what the measurable, expected outcomes are and their role in obtaining them. Measurement and reporting of an event requires documenting as many visitors to the event or exhibit as possible, reporting on the number of engagements and meetings that occur, and documenting qualitative aspects of the event such as the quality of the marketing opportunity and competitive intelligence. Reporting tools and skills, for use before, during and after the event are important.

For an event to be successful, the event staff must be capable of separating the highly qualified prospects from the crowd. Once separated, the staff is the logical choice to count and document these engagements. In fact, the “extra-exhibit” activity for most of our trade show clients is considerable and affects results. Documenting how many demonstrations, product reviews, discussions and meetings take place is necessary for reporting on an event’s success. These activities build relationships and reduce the cost of doing business in a number of ways, including the cost of future sales calls. The better these activities are documented, the easier it is for event managers to estimate the potential cost savings from these activities to use as justification for the event investment.

More formal meetings with high value contacts, i.e. those with a specific purpose or topic of discussion, are among the most valuable accomplishments at a marketing event. The sales team, executives and select others are in attendance and are in the best position to document the meeting and its’ results. Documented meetings provide some of the greatest potential cost savings associated with an event. Where practical the “front of house” or information desk staff at larger events can provide much of the meetings tracking. Technology, such as visitor management and meeting management software systems, mobile phone applications and tablet based systems are making it easier for the staff to provide the data.

Someone must be responsible and must be trained to make it happen. Pre-event training via on-line modules and on-site event training through briefings should be given strong consideration.

Another form of input is intelligence gathering, specifically competitive intelligence. Define clear goals with event staff before arriving at the show. Identify the competitors participating at the event and determine what type of information might be accessible at the event that would be helpful to your company’s plans. Consider all of the different places your competitors may share information openly at an event. Remember speeches and workshops, etc. Consider competitors marketing plans that may include a new product introduction for example. Mobile tools make it easy for the staff to input competitive and customer intelligence as it is received. Again, the staff must be tasked and trained to accomplish these missions.
After an event, it is essential for staff to report their experiences at the event. For example, the staff and stakeholder post-event survey allows staff to comment on the effectiveness of the event, the quality of their visitor interactions and their recommendations for making future events more effective. Staff survey participants can rank the quality and quantity of the targeted guests/visitors, assess how the company measured against the competition, rate their own performance, identify high-ranking guests at the event (those wonderful bragging rights about who visited your company at an exhibit) and even specific tactics for future shows. This information, if collected in a consistent fashion, can be accumulated and analyzed to help define the success of the exhibit marketing program and can be turned into a report for company management to justify budgets and staff sizes for the following show cycle.

Make activating and training your staff a priority. You will find not only better results reporting, but a more engaged and effective staff.

Measurement Tip 11

Capture Real Time Event Performance Input from Customers, Prospects and Staff Using Simple Tools

In previous measurement tips I have discussed the importance of gathering feedback from both customers and prospects, as well as from the event staff.

Recently, we created an app for a client that provided instant updates on how visitors were reacting to a special innovation showcase. We also created apps for the staff to provide feedback on visitors and to document important meetings. The great advantage of this feedback mechanism was that it required no equipment beyond the text capable cell phones everyone was already carrying and the information collected was available in “real time”.

Using SMS programming and a short code (think American Idol voting style), it is possible to gather real, instant input from a variety of people. The SMS applications can be sent to the user using a variety of formats and responses can be as simple as texting back a simple letter or a pre-coded string of text that translates to participant ratings.

There are multiple advantages to utilizing SMS applications for event measurement. Some of the more significant advantages are:

1. Information can be collected in “real time”- SMS surveys allow for information to be instantly transmitted from a mobile device to the application.

2. The user can be reached anywhere, at any time- SMS surveys do not have the same limitations that traditional survey techniques have. The respondents to the surveys do not have to connect to a kiosk or speak to someone. The SMS surveys can be completed while a visitor or staff member is on a plane or walking back to his or her hotel room. According to a 2011 survey by MobiThinking, 87% of the world’s population now subscribes to a mobile device. This means that the chances of a visitor to your exhibit or event not having a mobile device are extremely limited.

3. The feedback is available instantly- Current SMS technologies allow for participant feedback to be instantly transmitted to a database. This allows for information from an event to be collected and distributed with very little wait time.
Making adjustments on the fly or after a nightly debrief is a very attractive advantage made possible by hearing directly from your visitors and staff about how well your communication event is working. This is extremely valuable when an effective and engaging staff is needed to create the best possible result at an event.

So, how exactly do SMS applications work? Let’s consider a few examples. You work for SmartCo. Your company chairperson just gave the keynote address at a major industry conference. You ask the audience via the microphone, presentation screen and/or using printed cards, to text “Smartco” to short code 12345 on their smartphone. They immediately receive a message thanking them for participating and a request for their input on three to four questions on the importance of the keynote content. The first question pops up and asks for a reply by simply texting a single letter. For example, the first question may read, “How valuable was the content of this keynote address to your job? Text V– Very Valuable, S- Somewhat Valuable, N– Not So Valuable”. The participant sends the letter and another question appears. Upon answering the last question, the participant receives a thank you screen that may contain a link to your company’s mobile optimized landing page, a link that directs them to a request for contact input, or any other mechanism you might employ.

The applications may be easily tailored with relevant information and can include incentives for participation. Using printed cards along with other promotion tools with this process can create a more meaningful marketing touch. Utilizing a prize drawing, for example, will increase response and draw people back to your exhibit. You can even remain in touch with people after the event.

On the other side of the fence, staff can use a more condensed version of this type of data input to provide feedback on visitors or gather competitive intelligence, etc. Staff members can simply text a keyword followed by their observations or a string of data, such as a lead format, to a short code address. This data accumulates during the event and is instantly accessible or can be summarized at the end of the day. Several of our clients may have three, four or more keyword/short code apps running at one event.

Collecting input using this method requires very careful planning and design on several levels. The first consideration is that short message service (SMS) is limited in the number of characters that may be used, so words must be precise and to the point. Programming these applications takes a creative approach, much like crafting a tweet on twitter. The second element to remember is that participants cannot be confused about how to respond and must not perceive a risk for responding. The third major consideration is that visitors expect privacy and the Mobile Marketing Association has protocols that dictate how SMS applications may be used to better respect participants communication channels. The final consideration is to reflect on how SMS applications can link to valuable resources and establish goal conversion milestones. These capabilities make the applications valuable for not only data gathering, but also for campaign activation.

In summary, there are a variety of benefits to using SMS technologies at trade shows and events to gather visitor and staff feedback. Standard Messaging Service (SMS) applications are a new, creative option for measuring staff and visitor feedback at marketing events.

Value is a lot More than Leads! - How to Support Your Exhibitors on Broad Array of Profit Improvement Goals

Even though many companies (and some show managers) view trade shows primarily as a sales and marketing activity, there are a lot more opportunities for exhibitors to gain value than simply collecting leads from prospects. Trade shows present many types of face to face interactive opportunities beyond seeing potential customers. Suppliers, partners, channels, integrators, designers, regulators and many others are present at your shows and can potentially impact the revenue stream or cost of doing business for your exhibitors. Any interaction that results in revenue generation, improved retention or lower cost of doing business improves the profitability of an exhibiting company and therefore the value associated with their investment in your show.

Functionally, trade shows are an opportunity to accomplish much more than prospecting for leads. Most companies use trade shows to interact with existing customers to protect their revenue base, to reduce the cost of doing business through lower-cost meetings with key contacts, and conducting purchasing and recruitment activities. Many companies implement significant press and PR initiatives using your show as an anchor point.

Thirty years of identifying and estimating the value of trade events for my clients led me to create the following model portraying the broader scope of profit improvement opportunities at a trade show.

The model is built around two major goals, 1) Business Improvement and 2) Marketing Communications. The following chart shows tactical objectives and targeted audiences for each of the overarching goals:

Supporting your exhibitors’ ability to accomplish these types of goals will provide many more ways for you exhibitors to derive value from your event. Think of the other exhibitors and even speakers and panelists as additional valuable contacts for your exhibitors and sponsors. Any matching mechanism that will help an exhibitor identify all of the potentially valuable contacts available at your event will result in increased value for all parities.

The notion that a show in Chicago is primarily about reaching individuals who happen to attend in Chicago is outdated thinking. Your event can be a conduit to the entire worldwide market for your exhibitors and sponsors. Through direct media, world media, digital media such as live streaming and archived events and social media connections and interactions between events, the exposure opportunity for your exhibitors and sponsors at an event is greatly multiplied.

To be more specific about the breadth of opportunities an exhibitor is looking for at an event, consider the planning guide we suggest for our clients and ways that your event might facilitate their accomplishment:

These tactics provide the basis for optimizing value from any customer or trade event.

A. Executive Participation
1. How can an exhibitor utilize their executives at an event in support of multiple business objectives?

2. Examples of tactical objectives
a. Number of high value contact meetings with visitors, suppliers, partners, and people who are influential in the business environment
b. Use of executives in customer interaction events, thought leadership activities, press interaction and high profile speaking opportunities or appearances

B. Thought Leadership
1. How can an exhibitor take advantage of an event and associated opportunities to position the company as a leader in shaping the capabilities and future of the market served by the event?

2. Examples of tactical objectives
a. Match between though leadership opportunities and marketing priorities
b. Array of speaking or publishing opportunities
c. Number of speakers, appearances
d. Reach – number of people influenced, impressions

C. PR/Press Impact
1. How can an exhibitor take advantage of an event and associated opportunities to influence brand, positioning, awareness and perceptions through the press and analysts associated with your event and motivate them to cover the company’s news, products and services in a positive manner?
2. Examples of tactical objectives
a. Number of press, PR, and/or analyst meetings and briefings
b. Projected number of press hits, actual tracking of event related press by priority messages, tone, focus, geography, etc.
c. Utilization of the event press facilities and contacts

D. Promotion
1. How will an exhibitor use the opportunities afforded by an event to promote the company brand, products and services and communicate marcom and community relations messages to targeted individuals and the broader market in general?
2. Examples of tactical objectives
a. Number of impressions
b. Types of impressions
c. Advertising equivalent value of event promotion
d. Awareness, interest, purchase intent, brand fit, net promoter scores with comparisons of pre and post-event levels

E. Business Development
1. How will an exhibitor use the event showcase, demonstrate and promote priority offerings to the targeted individuals and organizations addressable through an event?
2. Examples of tactical objectives
a. Number of customer/prospect meetings with customers, prospects and others
b. Number of “cost of doing business” related contacts and meetings
c. Number of an exhibit or pavilion visitors and engagements
d. Number of demonstrations for priority products and services
e. Number of follow-up opportunities recorded as a result of event engagement
f. Documented progress in customer relationship maturity through meetings and content for existing customers

F. General Return on Objectives
1. What are the stated objectives the company has that are not explicitly covered elsewhere in this structure
2. Examples of tactical objectives
a. Influence a standards, technical or alliance body to adopt or change a standard
b. Launch a product or program
c. Get a company executive elected to the board or chief position in the host organization

G. Technology and Product Showcase
1. How will an exhibitor utilize the event to showcase products and services that are applicable and valuable to the target audience at the event?
2. Examples of tactical objectives
a. High priority products and services, by division included in the exhibit mix
b. Product showcasing tracks directly with sales goals for divisions and geographies
c. Number and types of products and services showcased
1. Priority focus for messages and product demonstrations
2. Number of documented demonstrations of each

H. Expense Avoidance/ Cost Reduction
1. How can an exhibitor use the event to reduce the cost of doing business for the company?
2. Examples of tactical objectives
a. Cross- over savings associated with travel and other expense offsets such as press briefings, launches, announcements, etc.
b. Logistical expense avoidance associated with high- expense demonstrations, aircraft, etc. to locate near customers and prospects
c. Re-use of creative, web and collateral development for future events or for field sales, etc.
d. Cost of the event vs. the cost to reach high value contacts and show case products and services through other channels.
e. How well does spending at this event on a cost index basis, such as cost per square foot and cost per visitor, engaged visitor or lead compare with average company spending as well as industry spending in general on comparable events

I. Return on Investment
1. How much value can be identified and documents in association with the objectives above and how does that compare to the cost of doing the event? (expressed as a simple payback ratio, i.e. $43/1))
a. Cost avoidance
b. Value of promotion and press impact
c. Sales Opportunity (revenue impact if practical to assess)
d. Value of Customer Relationship Management, value of retention efforts

Most companies are looking for real value from their investments in trade events. They are especially looking for those events that are focused and organized to deliver value on many levels and in many ways. As an event organizer, your challenge is to find as many ways as possible to support your exhibitors and sponsors in accomplishing revenue, cost and promotion related goals. Teaching your exhibitors and sponsors to see more opportunities in your event and how to plan for the accomplishment of a broader array of goals may be a good place to start.

Encourage your exhibitors and sponsors to identify measure and report value internally to justify continued participation and growth. Many event and show managers measure everything they do in the way of face-to-face activity against the types of goals presented here. The best event managers not only use measurement to justify their events and budgets, but also because they know they have room to improve and measurement is their tool to identify and implement improvement. In fact, the more successful a program is, the more likely it is that measurement is an important part of their process. The events that are measured are the most likely to be cost justified in the eyes of executive management.

The High Potential Trade Show Marketer

Key Note Address for the Certified Trade Show Marketer Awards Dinner at Exhibitor Show, Mandalay Bay, Las Vegas, NV, March 4th, 2012

Given by Ed Jones, President, Constellation Communication Corp.


CTSM Graduates,

Congratulations! I am honored to address you and those in this room who care about you tonight.

There are those of you who are receiving bronze, silver and gold levels of achievement tonight upon your CTSM certification and I congratulate you. And with your indulgence and support, I want to address my remarks tonight to the newest to join your ranks, the new CTSM graduates.

You have learned more than the average brain can accommodate. Your cup runneth over. You know how to do much more than one person can possibly demonstrate. You have earned the right to an opinion that deserves to be heard. You have assumed your rightful place among the few who will determine the future of face- to- face marketing.

You have done this all while riding a bucking bronco of a full time job, on the rodeo circuit of your company’s marketing events, most often without any accommodations on deadlines or resources.

You are now certified, grade A, blue ribbon, 100% CTSM, Certified Trade Show Marketer. Join us in giving yourselves a hand!

You now join a very elite group, 349 graduates, over 20 years of CTSM ,who have propelled and maintained our industry as the number one B2B marketing spend in support of sales, beating out specialty publications, internet, promotions and PR respectively (according to a recent Market Reality Survey).

Now that you have achieved this distinction, you must figure out how to activate the power of knowledge combined with the experience you achieved through your CTSM program for the benefit of yourself, your company, your peers, colleagues and family.

That is what I want to talk with you about tonight: achieving the maximum degree of success from the extraordinary amount of work you have put into this. Because, as you are successful, you will also accomplish the goals of supporting and satisfying others who are important to you.

I have worked in this industry for over 30 years. I know I don’t look old enough, but it’s true! During that time, I have observed little consistency in the career potential of trade show and event managers. It is seemingly dichotomous.

The job of trade show manager, director (or whatever you may be called) can be a highly respected and important position. One where unheard of levels of decision making authority and budget responsibility are exercised daily, the likes of which cannot be found in any other job at a similar pay grade.

Executives seek this manager’s advice, sales teams comply with his or her suggestions, and are grateful for the opportunities created through his/her efforts. This manager’s events are seen as accelerating the buying process and lowering the cost of doing business. This manager is called upon to take on additional roles and responsibilities.

This event manager’s career potential would best be described as “High.”

Yet, in another company, immediately across the aisle at the same show, a marketing events manager gets little, if any respect. They have a hard time gaining control of the staff and receive unfocused criticism at every turn. This manager is controlled by the budget rather than exercising budget control and suffers at the hands of managers from other departments. Budgets and deadlines are dominating measures of satisfactory performance. Note, I said “satisfactory” not “excellent” performance.

A bright spot is that this manager is seen as indispensable to the success of the next event.

This event manager’s career potential must be described as “low.”

I have not made an estimate of which is more prevalent, high potential, low potential or something in between. I have noted some of the common characteristics and qualities of the high potential managers. My goal for you tonight is to share what those things are.

A few secret herbs and spices, if you will, to add to all those ingredients you gathered from the CTSM commissary for your recipe for success.

Truthfully, one of the most important characteristics may be the hardest to effect. High potential event managers almost always have strong interpersonal skills. Why? Because almost everything they and you do requires the help and approval of other people. There is simply no substitute for understanding what other people need, what makes them happy or nervous, and what they regard as success.

The fundamental elements in productive interpersonal skills are listening, observing, thoughtfully considering that which you have heard and seen, and then tailoring your approach for maximum productivity. These steps must be combined with a genuine, measured concern for the well being of others, in concert with your own goals. Do whatever you must to improve upon your interpersonal power, and seek whatever feedback you can get from the perspective of others.

Of equal importance, and, an important element of the first quality, is the ability to communicate effectively. Good verbal and written communication skills are essential, not only to interpersonal success (we are talking persuasion here), but to successful management of any project and for gaining recognition for your ideas and accomplishments.

Effective communication is also an essential element for event marketing success. You must know what constitutes effective communication to know if your events are communicating productively. If you have not studied and developed these skills adequately, do so immediately! Find outlets to speak regularly. Seek opportunities for your presentation skills to be evaluated.

What should you speak about? Your ideas, of course, for making your company more successful through event marketing!

The third characteristic is a heavy reliance upon collaboration with a wide range of supporting individuals, other departments, organizations and suppliers. Getting people and organizations involved in the success of your program depends upon two things. One, how clear it is to them what personal value they will realize by contributing their time and resources and two, how well they understand what needs to be done and can visualize their role in making it happen.

CTSM notwithstanding, you will not succeed without accessing the knowledge and support of those who run sales, communications, product management, PR or any of a host of other functions in your organization. When people are properly activated and motivated they will help you succeed, because through your success, they succeed.

While I am on the topic of teamwork, the most successful managers have carefully picked their suppliers and made them an integral part of their team. Engage support from suppliers who can deliver expertise and capabilities that are complimentary to your own. Then, go overboard in communicating strategy and sharing information with them, so they can activate their own expertise and resources to help you achieve remarkable results. You should choose suppliers who understand how to translate face-to-face interaction into business results.

The fourth characteristic is discipline in planning, managing and measuring projects. I know for certain that you learned these things in your curriculum (I was there!) and you are well prepared to demonstrate them.

The fifth characteristic is the tendency for these managers to share what they know and to take joy in activating the capabilities of others. Take a minute and think back through the numerous faces of those who shared their knowledge and expertise with you through this program. Those are pleasant thoughts, aren’t they? Because those people shared their secrets with you to make you successful. I would bet that you can remember an "Ah Ha" moment quite vividly! Virtually none of those people were paid to do it.

Now think about a time when a CTSM teacher was personally excited for you when you had a success in your job through the application of knowledge and skills they conferred upon you. I know it always makes me really happy when a student calls me or stops me in the hall at Exhibitor Show to tell me of their success.

And that brings me to the last one, a perspective and discipline that will make your CTSM skills pay off in career advancement. This one is probably the most powerful as a career tool. The main focus of most high potential managers is on the success of the company and those around them, not on the success of the next event.

Not to be misunderstood, success in every event is a virtual requirement. However, if you limit yourself to this scope, you will fall short of being recognized for the full depth of your capabilities and contributions. For example, when you report saving thousands on recent events, by refurbishing an exhibit. Of course, that is a very good thing! Your boss will be pleased, but executives may not notice. Why? Because that level of detail is not on their radar screen and while the amount saved may seem quite large to you, it is not material at higher levels of management. You may demonstrate that you can do more with less and that sometimes is what you will get in return.

A much more important message may be that customers you already have, attending the upcoming show, represent $100 million dollars of your company’s most profitable revenue. And through your astute market awareness, you know what your competitors are planning to do to steal them away and more importantly, how to combat it. Executives (and everyone else) are interested in that message!

So how do you do this?

You must become a consultant to the business and focus your efforts on improving the profitability of the company. Make recommendations that will improve earnings. Build collaboration with managers in other functional elements of the business. Show them how they can benefit from a well thought out trade show or event opportunity. Frame your discussions around the elements of the profit equation, increasing and protecting revenue and decreasing expense, i.e. the cost of doing business, through smart event activity.

I have a client in a very large defense technology company who exemplifies the characteristics and qualities I share with you tonight. The chairman of the board of that company mentioned the trade show program on several of the recent earnings calls. Earnings calls are between the top level executives of the company and the most influential people on the planet relative to their financial well being.

The reason? That trade show manager has elevated the perception of accomplishments at marketing events to that of a profitable business equation, one that is important, even to the chairman. That manager is focused on managing his overall program and its impact on the company. Event success is essential to his overall goal.

I was privileged to teach most of you. So with what may be my last opportunity in that regard, I want to challenge you with some questions to consider about your future! With the superior knowledge and abilities you have gained through your CTSM accomplishment, what will you achieve?

• Will you be recognized for making a significant impact upon the success of your organization?
• Will customers thank you for the clarity, value and the overall excellence of their experience at your events?
• Will you show others how to achieve their goals through your programs?
• Will you teach the new recruits how to do the job and accomplish remarkable results?
• Will you give back to the CTSM program your experience and expertise?

If so, it is a certainty that you will be called upon to accept more important responsibilities and you will see your earnings and job satisfaction increase beyond those of your colleagues.

Tonight, you have shown you have what it takes to accomplish these things. You will be the ones that take this industry to the next level.

The next five years will bring more change than the last twenty. Some of what you learned is already obsolete. Digital and social media, interactive demonstrations and visitor management technology are your new tools, making it possible for you to do things we could have only imagined a couple of years ago. These tools are not only new, they are evolving at a dizzy pace. You cannot stop your learning tonight, just as those who will receive higher awards tonight have continued on.

Do something great! Dare to do something unique!

Wow your visitors and your company.

Wow all of us!

Be the “high potential” manager.

I raise a glass to your accomplishments and your future success!

Congratulations and my best wishes to all of you.

Ed Jones



Constellation Communication Corp.
Trade Show and Event Marketing Evaluation, Measurement, Planning and Return on Investment
+1.770.391.0015
inquiry@constellationcc.com

Measurement Tip 10

“The Customer is King” and Customer Relationship Management Provides Substantial Return on Your Event Investments

I hear exhibitors criticized for wasting trade show and event marketing dollars on existing customers. In my opinion, nothing could be more wrong. In fact, this is one of the most valuable aspects of event marketing.

Retention and growth of the current revenue base is an important part of nearly every business strategy. After all, existing customers (and the revenue they provide) is the most profitable of all. Existing customers are the easiest to sell in the future. That is why Customer Relationship Management (referred to as CRM) is such an important function in virtually every organization. Marketing events present an excellent opportunity to:

• Bring customers up to date
• Gain updates on the state of the customer’s business and needs
• Show what cannot be easily seen in field
• Have customers meet with your executives and experts
• Assure customers their needs will be met
• Introduce new ideas and programs
• Provide exclusive, confidential information such as future direction
• Thank customers for their business

All of these accomplishments have a direct and measurable impact on revenue retention and profitability.

Establishing a value for your CRM activity at events can be challenging, however estimating the scope of your effort is not. The scope can be quite large and therefore of great importance to your executive management. For example, a large consumer packaged goods client assesses the various types of customers and the amount of revenue addressable at events they attend. To establish objectives and measurement for an event, they breakdown the addressable revenue as follows:

A. What is the total market share addressable at the event?
• What is the total revenue of the market represented by the event?
• How many customers and potential customers will be attending?
• What is the average number and value of products or services each customer or prospect might be buying, etc.?

B. How much of that market total is comprised of current customers that represent existing revenue? This number becomes the retention target.

The average annual value or lifetime value of a current customer multiplied by the number of customers addressable at the event defines the scope of the event retention opportunity. If 100 current customers can be reached at the event that each have an average annual revenue value of $100,000 each, your retention target is $10,000,000! This puts an important value on the CRM activity at the event.

C. What is the growth opportunity on the existing revenue base at this event? This is the growth target.

For example, estimating the percentage of current customers that are likely to be cross-sold into an additional product line(s) highlighted at the event, establishes the growth revenue target for the event. If 100 customers are addressable, and 25% are likely to be cross-sold, at an estimated revenue value of $25,000, then the growth target is $625,000.

D. What is the market share conquest opportunity addressable at the event? This is the conquest target.

If 500 companies are represented at an event and 100 of them are current customers, then 400 present an opportunity for increased market share and new revenue. Keep in mind that your competitors are looking at your current 100 customers as conquest targets. If these 400 companies are potentially worth $100,000 per year in revenue (similar to your existing customers), then the conquest opportunity at the event is $40,000,000.

These numbers convey a lot more value associated with participating than simply reporting that 5,000 people will be there, and hopefully many are prospects. Defining the addressable revenue targets in this manner helps to understand and report the potential value of an event as well as add focus to the tactics and activities planned for the event.

If your company places a heavy weight on CRM activity as a trade show marketing goal, then it is important to know how well your CRM initiatives are working. CRM is essentially a process for providing optimum value to customers that supports obtaining maximum revenue value for your company. Therefore, it is wise to use measures of success that relate directly to the customers’ perceptions of value. Trade show CRM assessment should be consistent with any other enterprise-wide measures and metrics applied to other CRM initiatives. Briefing senior management on CRM success measures and applying these metrics on an ongoing basis will help to ensure continued funding of your event activities.

As mentioned, customer feedback should be incorporated into assessments of trade show performance. Customer measures may include:

• Increases in average order size
• Decreases in the number of contacts required to close a sale
• Reductions in the number of calls and time devoted to customer service or support
• Changes in customer satisfaction results
• Marketing measures such as net promoter scores


Many of these measures provide some basis for estimating potential return on investment, such as a cost savings through reduction of reliance on customer service or technical support.

Random intercept surveys with customers who have engaged with you at an event are an excellent way to identify changes in their perceptions, what they learned and what they intend to do as a result of their visit with you. Post event research should be considered as well.

Trade show activities can be tied to improvements in customer acquisition, retention, and customer reactivation. Many companies know their retention rates and changes in the retention rates can be significant measures of success. Your company may track the percentage of re-activations among lost customers for the year. Discuss how improvements in these areas can potentially impact profitability and how trade show tactics may be employed to affect results. Tracking these types of measures over time will help identify the improvement related to events.

Estimating the potential value of CRM efforts is similar to estimating the sales opportunity in a sales funnel. What is the effect upon the retention rate among customers seen at events where a CRM initiative was in effect? And by extension, what is that change worth in profitability? The same concept may be applied to “reactivated accounts.”

Investing in retention of existing customers and their revenue at events makes sense. Take for example any business with some level of customer/ revenue attrition each year. An initiative is developed for events that will result in reaching and retaining 50 customers among the 200 or so lost each year. The average value of a customer addressable at these events is estimated at $100,000.

To determine if event reactivation initiatives are a worthwhile investment, consider the following:

Multiply the number of customers retained or reactivated (50) by the average annual revenue value of a customer addressable at events ($100,000): (50 Customers X $100,000) = $5,000,000 in re-claimed revenue. Multiply that times the profit margin on sales associated with existing customers (it will be higher than for new customers, for example 35%) and you will find $1,750,000 in gross profit attributable to those customers who would otherwise be gone. That level of profit contribution is likely to be a high percentage of the entire event program budget. The other ROI justifications of new revenue development, cost avoidance and promotion value accomplished at the same events are icing on the cake.

If a single event is a key part of managing the customer relationship for the year, such as a premier customer conference or the largest annual conference you attend together, then the investment in that activity would likely be a significant portion of the overall amount a company spends on maintaining the business. If the event you are considering is not a main part of relationship management then it might represent only a small fraction of your company’s effort. Regardless, if you add up the current annual revenue of the customers you will engage, brief or entertain at an event, those numbers are usually impressive, and demonstrate what is at risk if those relationships are not maintained.

Consider making CRM one of your most important event marketing goals. Hold discussions internally to understand the value your company is willing to place on retaining and growing existing customers and revenue through investments in event activity.