As you read the following statistics (all of which are listed in the above article), I would encourage you to take some time to reflect on your previous event efforts.
STATISTIC: Exhibitors spent an average of $189 per “attendee who entered their exhibits” and an average of $276 per “attendee with whom a face-to-face conversation took place in their exhibits.”
…For every attendee who walked by your booth, how many came inside? For every attendee who entered your exhibit, how many stayed for a conversation with one of your representatives?
Divide your average costs by your total number of visitors/conversations and compare your results to the average, as above. To improve your ROI, consider the way in which your staff greets attendees (to encourage them to enter your booth) and their preparedness to proceed through introductions to a brief, but meaningful, conversation.
- Quality -
STATISTIC: On average, about 80% of attendees at all 2010 shows “have the power to recommend or make final purchasing decisions.”
… For every face-to-face conversation that took place in your exhibit, how many of those were with quality leads?
Divide, from your total volume of leads obtained, the ones with buying power and compare your results to the average, as above. To improve your percentage of quality leads, consider the fit of the shows at which you exhibit, the way in which your booth design, pre-show promotions, and staff are drawing visitors in, and how your team is allocating their time with each guest.
- Potential -
STATISTIC: The percentage of “attendees who plan[ned] to buy within 12 months of a show… seems to moving in the right direction.” This value is up (from 47% of attendees in 2009) to an average of 50% at all shows in 2010.
For every quality lead you encountered, how many of those did your team actually follow up with? For every follow up effort, how many of those resulted in a sale within the following 12 months?
Divide your sales (to attendees who visited your booth, within 12 months of the event) by the total number of attendees who visited your booth and compare your results to the average, as above. To improve your sales, consider your follow up efforts (how realistic your plan is so that it can be followed and how those leads are transitioned/nurtured through the selling process).
- Reputation -
STATISTIC: Nearly a third (31 percent) of attendees surveyed “reported that their purchase intentions were more favorable after visiting companies’ exhibits.”
… For every prospect who had been researching your company without your knowledge, how many did you encounter on-site? For every prospect you had encountered outside of your exhibit before the event, how many did you encounter again while exhibiting? For every encounter, how much did your efforts improve their impression of your company?
This statistic may be a bit more difficult to personalize fully; however, through surveys and other methods, you can approximate your exhibiting impact and compare the value of your trade show presence to the average, as above. To improve these results, consider the experience your visitors enjoy when they encounter your company’s booth, from start to finish (every little detail matters).
Although these statistics reflect the “all show” averages and the numbers may vary according to your industry or specific events, they do provide a great place to start when you are evaluating your company’s recent exhibiting efforts. If these numbers are not easily accessible for your last several shows, consider adding them to your list of post-show ROI calculations so you can continue to improve your results during future events.
Note: As always, if there is anything I can do to help you with any of the above items, please let me know. To refresh your memory, my company, When I Need Help (WINH), offers on-site sales and marketing support as well as pre-/post-event consulting services – I’d love to help in any way I can.
Robyn Davis - Owner, When I Need Help (WINH)
Robyn helps exhibitors improve their results at conventions and trade shows by providing on-site sales and marketing support, pre-/post-event consulting services, and convenient products. Contact Robyn to discuss your situation today!
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