The only way to gauge any marketing program’s success is to measure specific results. But in many cases, event planners are not measuring what matters and often have trouble justifying their program’s benefits. However, all is not lost. A simple change in mindset can make a difference.
Attending the right trade shows can positively impact sales as well as brand recognition, relationship building, thought leadership, and high-quality leads. According to SpinGo, 81% of trade show attendees have buying power – and the cost of meeting prospects is $117 less at a trade show than in the prospect’s office.
With the average person spending 5.5 hours (CEIR) on a trade show floor visiting not just your booth, but also your competitor’s, it’s critical for event planners to collaborate with stakeholders to know exactly what needs to be achieved and create relevant tactics that deliver on those goals.
Adopt an OGSM model
An OGSM model connects long-term vision and strategy to short-term goals, actions, and metrics. It helps maintain focus and guides planners to measure what matters. Don’t do this alone. Make sure you work with your event committee and stakeholders to agree on what the trade show will accomplish. Think big picture. OGSM is cyclical process that is data driven. Use the collected data to make decisions about future objectives and goals. What should change to drive better results? Be flexible and adaptable.
Develop Objectives and Goals
Objectives need to be clear and concise and focus on what to achieve. They are strategic and support higher-level objectives set by the CEO. When creating event-specific objectives, make sure they tie into the larger, higher-level targets.
If you’ve done the work up front, you already know your business as well as marketing and sales goals. It’s a lot easier to develop event-specific promotions, communications, and social media tactics that align with achieving those goals. Going to an event simply because you have done so every year in the past is not a good strategy. If this is the case, it might be time to reevaluate your motivation for attending the event.
A Word about Goals
Once objectives are set, determine SMART goals (Specific, Measurable, Actionable, Relevant, and Time Sensitive). With targeted and specific goals, you can objectively measure activity and obtain data-driven information by which decisions can be made. If goals remain subjective, results will be second-guessed by management.
Instead of saying your goal is to “launch a new product,” why not state that your goal is to “capture 50 new leads at this event from the ABC target who expressed interest in the new product launched at this show.”
Identify specific and measurable goals that allow you to demonstrate that your trade show or event will deliver.
Creating Trade Show Strategies that Deliver on Goals
If you build it, they will not come – unless given a reason. Start early and develop pre-, at-, and post-show promotions, as well as marketing and communications plans that include calls to action.
- Pre-show is all about awareness. Focus tactics to address objectives. Ask how tactics will deliver against set goals. Give customers a reason to visit, with a call to action that can be measured.
- During the show, let customers know what’s happening in the booth. Remember that not everyone will be on site. Use social media and the event’s app to promote.
- After the show, thank attendees, send literature, and make sure sales reps follow up.
Ensure that the lead capture system integrates with your CRM and email marketing application. Have a follow-up strategy for hot, warm, and cold leads.
Measurement Matters
The most important step is to measure results and produce event dashboards that make sense to executives. If you have defined objectives up front, it should be relatively easy to demonstrate results. Do this for each event, but also create one for all shows combined.
Use the data collected to determine if you should attend next year. Listen to what the data says and make adjustments as needed. No decision should be made without understanding how it supports an annual event roadmap. But before attending a show, you must get alignment from stakeholders on what and how to measure results and ensure that processes are in place. Otherwise, you’ll never be able to justify your spend and grow your events.
Grow Your Events collaborates to develop an event plan that supports tangible, ongoing measurement to justify event spends and deliver to your company’s bottom line. We bring a strategic approach to grow your events by developing an enterprise approach that standardizes process, responsibilities, measurement, and results. If you struggle with event measurement and ROI, let’s work together to grow your events. Request a free consultation.