Tradeshow Success is built on a lot of moving parts, and it’s often hard to know exactly how successful the show is unless you track the details. So let’s dive in a little and see what 8 essential tradeshow metrics mean the most to your overall success.
- Booth visitors: knowing the overall number of booth visitors, or at least a valid estimate, can give you valuable information, especially in a year-to-year comparison at the same show, and from show-to-show. Even though when you measure show-to-show it’s a bit of an apples to oranges comparison, it does give you intel to help judge the show’s effectiveness.
- Leads generated: one of the more straight-forward metrics you can track, but it’s important to break them down into at least thre
e levels: hot, warm and cool. This will give the sales team the information to correctly follow up on the hot ones right away and the warm and cool ones later.
- Sales as a result of the leads: track how many new customers came out of the show in the first three months, six months and year (depending on the type of product or service you offer). Track the overall sales amount. It’s harder to track B2B sales from a tradeshow simply because you might not get a new customer until a year or more has passed.
- New leads: a slight differentiation from all leads, this breaks out the brand new potential clients from those that you’ve had some sort of contact before. Valuable information, indeed.
- New customers: same with customers – how many news ones did you get as a result of a show vs. how many are repeat customers that happened to be at the show and buy something because of the show.
- Budget: actual vs. estimated. Keeping track of the investment is important; knowing how much over or under budget is critical.
- Cost per lead: divide the overall cost of the show by the number of leads gathered to get a cost per lead.
- Return on Investment: divide the overall net profit you’ve gained over three, six, twelve months by the net profit from the show (gross profit minus the cost of attending the show).
There are other numbers you can track, but if you do nothing but track these metrics you’ll have a lot more insight into the kind of success your tradeshow marketing program is giving you.