Participating in a trade show has several advantages. The humanization of relationships is a significant privilege for a company. Of course, you must consider the expenses related to your participation. It is therefore important to measure the return on investment when participating in this type of event.
Why participate in a trade show?
A trade show is a way to showcase your new products. But it also brings you closer to your customers. Being in contact with them allows you to know more about their needs. Your company will have more visibility during a trade show. The various communication tools before, during and after the event are an asset for you. It is an opportunity to work on customer loyalty. A trade show also allows you to meet new partners. The possibility that there are competing companies is also an opportunity that will push you to stand out from them.
Participating in a trade show has a cost
You need to make time for the event. But you must also consider the financial cost. Indeed, you have to rent the booth. But there are also expenses related to communication. To optimize your participation, you must photocopy flyers, posters, business cards, etc. If your budget allows it, why not invest in goodies? In addition to this, there is the cost of transport and human resources. This can be in the reception or animation or for another position. In any case, by participating in a trade show, your objective is not only to be able to recover the allocated expenses, but also, and above all, to make a profit. You must therefore calculate the profitability of your participation.
How to calculate the profitability of a trade show?
To measure the return on investment of a trade show, you must first define the objective of your participation. In general, the calculation is simple: compared to the profit you made, you will subtract the expenses. This will allow you to know if you have had a return on investment. On the other hand, if your goal is mainly to conquer prospects, your calculation will be based on the number of customers reached. For this, you should set certain criteria to measure the quality of the leads made. Indeed, the number of customers who have left their contact information, for example, allows you to realize if your prospect has worked well. In this case, you can value the acquisition cost of these customers.