|BlueSky Business Aviation News|
The cost of each show varies, but all demand a significant investment of resources. Both in hard costs and in people power. The average fabrication cost of a booth at larger shows is around $160 per square foot. And that doesnít include the booth space fees. Or the creative development. Or staffing.
What to ask when determining tradeshow ROI
1. What is the overarching goal you are trying to accomplish by exhibiting? There are many reasons to attend: brand awareness, connecting with specific prospects or clients, launching a product, supporting an existing partnership, generating leads, solidifying existing leads. Knowing which is most important can dictate which show best delivers.
2. Do you have the staff to support the event properly without taking away from other company initiatives? Account for the cost of prep hours, set-up time, staff for the booth and show follow-up. It adds up.
3. What do you know about the target market that attends the show? Ensure it aligns with your key prospects for business development.
6. Whatís the quality of your booth attendance over the past three years? You care about more than quantity. Consider whether youíre talking more to vendors than to high-quality prospective buyers of your product or service. And think about how many leads youíre converting to actual new business.
7. Could you accomplish the same goal by having a presence, but sending a smaller group of staff and/or scaling down your booth?
8. Have you directly asked your sales staff what tools or strategic changes you could make in your booth to provide better returns for them? The more marketing and sales talk, the better.
9. Are there any shows that could be replaced with an alternative event where you donít have to share attention with so many others (i.e. all the other exhibitors)?
10. How are you tracking tradeshow ROI after the event? Ensure you have an action plan for the leads you generate and that you have the capacity to properly handle follow up.
If in doubt, lean toward attending
These questions offer a starting point for discussion. I hope they prompt some rigorous debate. NBAA 2015 is now only 16 weeks away. So as you plan, consider what efforts would produce the greatest ROI. Thereís still time to adjust.