It can be challenging to measure the return on investment for exhibitions and events. Returns aren’t always immediate even though costs are. There needs to be more of a reason to attend an exhibition or event than ‘we’ve always done it’. There are lots of reasons that you should attend an exhibition and finding your ‘why’ for attending to come down to any of them. We’ve put together a list of potential reasons to attend your next exhibition.
Competitors, Buyers and Influencers in your market attend
If an event is attended by your competitors, buyers and influencers in your market place the chances are that you should be attending too. You should be able to answer some key questions about your show to calculate your ROI.
- How much of your target market turns up at the event and gains brand awareness?
- How many new buyers do you expect to meet?
- What is your typical conversion rate for a lead from an exhibition or event?
- What is your lifetime value for each new customer?
Knowing your figures can help you to see that even gaining a few new customers with a good lifetime value can make exhibitions worth attending.
Your Customers are attending
If your event designed for customers and they attend it is worth your while attending, making a personal connection with your brand or maintaining a personal connection with your and your brand is vital. Attending an exhibition that your customers are attending gives you a chance to create a lasting and positive experience for them increasing your business revenue.
How can you quantify this as a reason for investing in an exhibition or event?
- Customer testimonials, attending an event can be the ideal way to get customer testimonials, this could be in person to other attendees, written or in video format. Giving you potentially double the return, improving relations with existing customers and using existing customer buzz to generate new leads.
- Look at the retention rates for customers that are attending the event compared to those that aren’t to see if the event or exhibition has a positive impact.
- Look at the event to see if attendance figures are increasing within your customer base.
- Look at the reason for attendance, if your customers are coming to have a good time, celebrate and look towards the future working with you then it could be an opportunity for you to invite more prospective customers who can learn from your existing customers how great you are.
Your Launching a product
If your are planning on launching a new product and a particular exhibition or event is the place to do this for your industry you can measure.
- How many potential buyers you can expose your new product to including show visitors and those reached by publicity about the event and social media.
- How previous launches at the same event have worked for yourselves or others.
Having decided that you can justify your exhibition costs why not get in touch with us about your next exhibition or event today.