Exhibiting in a trade show can be a consuming project that requires months of planning. Your organization's resources, both time and money, will be spent in excess and at the end of it all, your superiors will want to know, “what did we get out of it and was it worth it?”
So, how do you quantify the value of your booth? Where should you start? We understand that it's challenging to calculate the success of your marketing efforts after a trade show. Today, we’ll address exactly how to do that and also how to make it as easy as possible for you to do this in the future.
Understanding your Metrics - ROI and ROO
First, it's important to create a clear distinction.
Upon completion of your trade show event, you will have two areas to measure. The first is ROI (return on investment), which compares your total costs against how much revenue is generated by or during the event.
The second is ROO (return on objectives), which is a more empirical valuation that shows how well your marketing strategy is working against your trade show objectives.
Both are important metrics, and we can help measure both for you - but we’ll get to that in more detail later. First, let’s discuss how to calculate ROI.
How to Calculate ROI for a Trade Show Booth
There is a very simple formula for calculating your ROI. Let’s review that now.
ROI = REVENUE - INVESTMENT
If you know your organization generated $60,000 in sales from the leads collected at the trade show, and you invested $30,000 in exhibiting at the event, then your ROI would be 100%.
Your next question might be, “how do I know how much revenue I’ll generate from the trade show?” Measuring ROI can be a lengthy process depending on your particular sales cycle.
At FastSensor, we offer multiple trade show booth metrics and benefits that offer valuable insight into your total ROI.
Included under these umbrellas are two valuable datasets - the FastSensor Conversion Funnel and Time-in-View.
Conversion Funnel analyzes critical KPIs such as walk-by traffic, visitors, browsers, and engagers to calculate how many people had eyes on your brand and how many visited and engaged with your booth.
Time-in-View tracks the total amount of time visitors spent looking at your exhibit assets and the average duration of view time per impression. This is similar to online impressions and CPM metrics in digital marketing, but for physical engagement that is often more valuable.
Equipped with these powerful insights, you can make adjustments to your booth that will increase engagement and conversions.
Measuring Booth ROI and ROO with FastSensor
FastSensor is the first AI-powered, people tracking solution for indoor venues. Our platform tracks and analyzes customer behavior in indoor spaces and reports back key metrics like engagement, loyalty, foot traffic heatmaps, dwell time, and conversions. It delivers real-time customer behavior insights that drive more on-site engagement and sales.
FastSensor will monitor your trade show exhibit and floor plan so you can see what elements are performing well and which are not. We do this by exploring how visitors navigate your booth so you can optimize your floor plan to boost ROI.
In addition, with FastSensor’s robust reporting methods, you can ditch the clunky, time consuming spreadsheet work and access your metrics anytime via our software or reporting.
Don’t waste anymore of your precious resources trying to calculate and quantify ROI and ROO without the right data. Let FastSensor do it for you and help you improve your booth along the way.
Contact us today to schedule a demo!