HERE’S HOW TO SEE YOUR RETURN ON INVESTMENT PER SHOW/VENUE      

A great way to track this is to either give something out for each show with a sticker or label that says what show it is for and then when they call, you can ask which show by looking at the item. This is called a lead.

Another great way is to get address labels and print about 25 at least for each show with the SHOW NAME on the label. Put them on your business cards and then the same thing applies. When they say they have your card, you can ask “What does the label on your card say?”. Then let’s say you did this for the Designer show it would say “Designer”. Then you could track how many sales you got from that event, venue or etc. You can label them however you want, per venue, per event it’s up to you. My business mentor has me do this so I know which venue and show to spend money on in the coming months and years. If you can track success per venues or shows, then you know which ones to attend over and over and which ones to steer clear from.

You can also get leads by having a drawing etc. On the drawing slips, put the labels on the slips to track your leads per show or venue that way! When you get home, you can add everyone into Excel or other system for future leads.

If you see no sales or leads from a venue or show a few times, then you know not to do that show the next time. Versus if you see great sales or leads, then you can see “Well, I didn’t get any sales, but look at all the leads I got” then you can see how it balances out.

Sales “DAY OF” a show are not a god estimation for every brand. Some people have to think about spending $100 on an apron or a blanket or purse or even jewelry before they buy.

According to Ed Jones, president of Constellation Communications, there is far more gained through marketing than just adding new leads to the sales pipeline

Four components to [VENDORS] return on investment and revenue impact:

  1. New revenue development (near or long term); (Sales Day Of a Show vs Sales Long Term)
  2. Customer and partner relationship management; (Did you network with other vendors, learn new tricks, tips and trades, did you meet new people who will buy from you again)
  3. Retention and growth of current revenue, which includes profitability improvement and cost savings achieved through event-related activities; (Did any of your regular customers come see you, did you make new long term customers, did the event bring in more sales and leads for you?)
  4. Promotion value, accomplished through event activity. (Did you do things to help promote you at the show, like drawings, giveaways, engagement?)
  5. (I would like to add one here)- Engagement- As in standing up, talking to each customer, telling them about you, your brand and your sales? Were you able to engage with each and every person who came by your booth?

I added that last one as a reminder to us all that to have a truly successful show we MUST engage with the show attendees. You might have a hoarse voice at the end of the night, and may sound like a broken record, but I can tell you from experience, it really DOES make a difference to STAND UP, not hide behind the booth, and engage and talk to each and every person as much as you did the FIRST person who walks up to your booth.

I hope this helps you all out and I look forward to working with you in the future on other shows.

Advertisements

Comments are closed.