If you have a longer sales cycle, and it will take some time to see the revenue from your trade show efforts, you can use predictive analytics to estimate what your ROI will be. You can use past close rates and deal sizes to calculate approximately how many leads from the trade show will close and how much revenue those deals will produce. You can use these estimates in your ROI calculations and adjust your figures as the deals close.
To track your trade show revenue accurately, you need a way to mark which sales and leads came from the show. Options for adding this tracking include:
Tracking codes or UTM codes
Unique landing page for attendees
Tags or a specific pipeline in your CRM
Adding up non-sales wins
If you’re measuring ROO, your calculations will be a little less exact, but it’s possible to add up your non-sales wins and estimate your trade show ROO. The exact steps vary depending on your objectives. For example, if your goal is brand awareness, you could measure things like foot traffic at your booth, social media interactions, website visits, and the number of email addresses collected.
You may also be able to estimate the dollar value of philippines mobile number achieving your objective. For example, you might determine that about one in five new social media followers will become customers and spend $100 with your company. Then, each new follower is worth approximately $20 to your business.
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3. Add up expenses
Next, you’ll add up your expenses related to the trade show. These costs vary, but standard trade show expenses typically include:
Passes to attend the trade show
Booth rental
Booth design
Display and giveaways
Travel, room, and board for employees
Marketing campaigns to promote your trade show booth
4. Calculate your return
Once you have your total revenue and expenses, you can plug those numbers into the ROI formula. The ROI formula is:
(Revenue – Investment) / Investment
For example, let’s say you spend $10,000 on a trade show and bring in $16,000 in revenue. Your formula would look like this:
($16,000 – $10,000) / $10,000