Ensuring ROI for your events
Measuring the true success of a trade show or an event is one of the most challenging aspects in the marketing world. Most will simply evaluate success by the general mood of the exhibitors when the event is complete, which is normally clouded by relief. Of course, there are attendance numbers or a lead generation list you can evaluate, but to ensure that you make the most of your budget consider these tips:
Too often shows and events are planned like any other task on the to-do list. Accept the challenge, determine objectives and stay disciplined to develop a great strategy and execution plan. It’s easy to become overwhelmed and procrastinate and ultimately go rogue without a good plan that will usually cost you in the end.
Budgeting and planning for multiple years helps you prioritise your efforts and gives you much better odds for success. Consider a disciplined approach to evaluate your show budget into a 3-to 5-year plan. For example, perhaps invest heavier in year one for longer-term benefits and utilise those benefits for the following year and have a smaller budget that can be repurposed for sales leads.
Consider the damage you can cause if you get caught up in the event and forget to connect your messaging at the show to the position you intend for your brands. Create impactful and memorable messaging and displays that stay true to your brand.
It becomes easy to continue using the same sources for development of your displays and graphics, and logistics management. Don’t become complacent. Continue to negotiate and evaluate sources that can best accommodate your execution goals and deliver impactful events under budget.
To make the most of the face-to-face opportunities, you must do what you can to make sure you are looking at the right faces. Dedicate ample effort to encourage attendance that hits your target audience with year-round communication. And don’t miss any opportunity to conduct post-show follow-up to maintain engagement.
Of course, there are many aspects to managing your budget and making the most of it. Accepting the challenge and staying disciplined to plan a great strategy will go a long way to ensure you are getting the most out of your budget.