How Data Analysis is Partnered With Data-Driven KPIs and Other Strategies to Increase Basket Size
Some in the retail business like to rely on their intuition when it comes to making...
Jun 5
Trade shows are a wonderful opportunity to showcase the latest products and services your company has to offer. They can create deep and lasting impressions with attendees, give people a space to network, and are the perfect platform for you to market your products and bring in sales. Trade shows can be an incredibly expensive investment, however, which is why it’s vital you have the tools in place to measure the success of the show.
Here are four methods you can use to measure its success:
A major challenge that many companies face is predicting future success, and this is true even with trade shows. However, it's possible to use predictive ROI to overcome this challenge and ensure that your trade sales are converting into actual sales using past lead values.
You can identify how key metrics change after an event, such as your average customer value and average lead-to-sale conversion rate, to quantify how a trade show is affecting your sales. Using these values from previous years, you can create sales leads estimates that help you estimate sales leads for an upcoming trade show.
If you want to extend the reach of your trade show, you need to leverage social media to make sure it has an impact beyond the event itself. This can be achieved by encouraging audience interactivity across different social media platforms, as well as ensuring your social media teams are ready to respond when necessary. There are a number of other practices you can include in your social media monitoring to gain deeper insights into your events including identifying trending topics, the top speakers and channels or monitoring all hashtags related to the event in order to better track the conversation. Find out more about how to implement these systems to improve your social media monitoring here.
Twitter is the go-to platform for the latest event news and updates, but other tools such as Instagram, Facebook Live and Snapchat are also used by attendees to capture the live experience of your event.
Modern foot traffic tools do more than just count the number of people that attend an event. Wireless tracking tools allow you to measure:
This is hugely powerful as it means you can measure how many people that attend the trade show also then visit your retail outlets as a result.This not only provides valuable statistics to measure the success of your event, but can give you additional insights into what people were engaging with so you can make your next show an even better experience.
It's in your best interest to follow up with leads as soon as possible after any trade show. If you want to gauge the impact of your event, post-show marketing plans and emails on leads, you need to monitor your metrics. A few key metrics include:
Here are additional resources that you can use to find out more about these metrics: 5 Important Metrics for Measuring Your Trade Show Marketing ROI, and Measuring Email Effectiveness with CTOR.
If you are looking for a foot traffic counter and analytics solutions for your trade show, you should consider Blix Traffic. Blix Traffic can help you unlock a new range of insights by measuring the amount of foot traffic that your tradeshow stand brings to your sales office, dealership or store. This provides you with direct data on how these events affect your company’s sales and ROI, helping you measure whether your investment in the show is worthwhile.
For more information about Blix and how it can help you measure the success of your trade show, take a look at the Blix website or contact one of our consultants today.
