Let’s be honest – the world runs on data. Skim through any marketing publication and you’ll find that at least one of the main articles features data in some way, shape, or form. In our face-to-face world, it has been a challenge to collect data that supports the value of trade shows. This leads one to wonder, what’s preventing trade show professionals from collecting data that highlights the value of trade shows?
Trade show exhibits are a great way to get your brand in front of many people at once. However, the question on most marketing managers’ minds is “what’s the value of attending a trade show?” Unfortunately, trade shows don’t always provide tangible benefits. In fact, sometimes they can be budget-cutting exercises and headcount-reducing events wrapped up into one!
Why Your Job is Important
You’re far more than a tactician. However, the general nature of trade shows is a mystery to most of your organization. Furthermore, it can be daunting to quantify the value of attending trade shows.
It is 100% true that it’s difficult to measure your success at trade shows. The primary reason is that most trade show professionals don’t know what metrics to track. Furthermore, you also need to transform the raw data you collect into measurable objectives. Lastly, you need to determine whether you achieved your objectives.
The Value of Data Dictates the Value of Trade Shows
Data that illustrates the value of trade shows is complex. However, it’s vital that you prove the value of attending trade shows and prove that you achieved what you set out to accomplish. Furthermore, the data that everyone cares about is the data that translates into revenue.
Your organization likely has a CRM system that is the hub of customer and prospect data. That data is probably segmented into what makes sense to your company and sales team. A strong CRM system tracks every lead through the sales cycle and notes whether a lead converts or requires additional nurturing.
Hopefully, you’re screaming, “this is exactly the type of data we collect at trade shows!” then you have an inkling of where we’re going. The majority of the data in your CRM isn’t always crystal clear. Some might come from prospects who provide all of the core data, but you likely purchased lists from third-party sources.
Take a moment and think about that, the data your collect at trade shows is fresh and actionable. This alone solidifies the value of the trade shows you attend.
Other than field sales efforts, you gain valuable face-to-face time with prospects at trade shows. This sort of interaction allows you to:
- collect demographic data
- gain knowledge related to your customers’ and prospects’ budgets and purchasing plans
- gauge the odds that the leads you collect will convert
Closing Thoughts
You engage with current prospects and customers. You also get a chance to collect first-hand feedback. Such feedback includes how your prospects and customers interact with your company and your brand, but also the plans they have for future growth and development. You also gain valuable insight into who the decision-makers are and who can influence their decisions. When all is said and done, you benefit from everything mentioned above and deliver your brand promise in real time.
