Measuring tradeshow ROI

Just before I left for Embedded World, one of our interns asked me how we measure tradeshow ROI. An excellent question, and one that isn’t necessarily as simple to answer as you might think.

The most obvious and tangible way of measuring ROI is by tracking the number of new sales prospects or leads that you generate at an event. With the right CRM system in place, it’s possible to dig even deeper by tracking the revenue generated by the prospects and the types of products they buy so that you can build up a more complete picture of the long-term ROI. However, it is important not to get too carried away with these numbers because of a lot of other factors are generally involved before a sale is completed. Attracting the prospect is just the first step.

A second way of evaluating ROI is to keep an eye out for the number of existing customers that stop by your booth to catch up with their contacts in your company and take a look at the latest offerings. This number provides a vital indicator of the overall health of your company’s business — not to mention your marketing programs — because it shows the level of loyalty you are building amongst your customer base. Don’t underestimate its importance.

A third way of determining ROI is to track media coverage of your announcements and engagement levels with your pre-event promotional campaigns and the content you publish on your website. Comparing the media coverage you generate with that of your competitors can provide you with a useful gauge of the level of awareness about your company and its products as well as opportunities for improvement in the future.

A third way of determining ROI is to track media coverage of your announcements and engagement levels with your pre-event promotional campaigns and the content you publish on your website. Comparing the media coverage you generate with that of your competitors can provide you with a useful gauge of the level of awareness about your company and its products as well as opportunities for improvement in the future.

There are of course many other ways of calculating tradeshow ROI, but my advice is to focus on absolute maximum of five core criteria. The more you look at, the more you risk complicating the process and missing the big picture.