Barry was clear and quick on his feet. His basic thesis is that you need to establish a baseline, a benchmark for the year for your trade show program. All of your work in measurement needs to be set against firm business objectives. This guy thinks in threes (I like that, you know) and his first three are about balance between resources:
- Why are we in business?
- Who are we?
- What is our real purpose?
- What are you hoping to achieve?
- What will justify the time, energy and money spent?
- Sales objectives--easier to quantify
- Communications objectives--softer, but what most relationship-building exhibitors really want to know.
a. Take a total show population of 5000
b. Determine the percentage who fit the profile of the client you want to reach (10%)
c. Take the average time spent with prospects (typically 10 minutes or 6 per hour)
d. What are the active hours of the show (assume 20 for this example)
The number of realistic leads is c times d or 120. However, deduct by 50% because of reality brings you to 60. That's 12% of the show total attendance. A realistic assessment of how many people you will really reach.
Like I said, this helped amplify and expand on what Ian had said. Coupled with the Tound Table run by Ian on ROI/ROO and it was a complete day of brand and measurement.
Lesson learned: the dynamic trade show program (and they all are) needs to be quantified and qualified to keep being effective.