Tuesday, March 11, 2008

At the Exhibitor's Show, Day 2: Objectives & Measurement

Ok, now we're getting somewhere. I've read Barry Siskind's books, but never had seen him in action. He is a dynamic speaker (with dry, B&W slides) with great information. Actually, the earlier presentation by Ian set me up really well for this session.

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:
  • Financial
  • Physical
  • Human
He also cites three basic questions you, as an exhibitor, should ask yourself:
  • Why are we in business?
  • Who are we?
  • What is our real purpose?
Once you can answer these (or come close or work toward answering), you come closer to a sharp focus. Two steps:
  • What are you hoping to achieve?
  • What will justify the time, energy and money spent?
This ream of information leads to two areas to measure:
  • Sales objectives--easier to quantify
  • Communications objectives--softer, but what most relationship-building exhibitors really want to know.
What I really came away with from this seminar is this formula that Barry called "doing the math":
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.


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