Marketing Money - Getting it and Keeping it.
This week’s entry is a simple matrix to help Trade Show Coordinators and Marketing Managers show quantitative evidence of their tradeshow performance. This is helpful when it comes time to get your budgets together or defend the budgets you already have. This also will allow you to measure the trade shows’ performance immediately following the show!
If you get some basic information from the Sales Manager you can predict the amount of revenue generated by a trade show. The info you need from the Sales Manager is a closing ratio and average sale.
What percentage of qualified leads from any source turn into sales?
What is the average sale from those leads?
Plug those 2 numbers into this matrix and at the end of the show you can predict your success.
Total Cost of Show divided by the number of qualified leads (I would recommend using only A and B leads, the top 2 tiers, and not the C leads) = Cost per Lead
Number of qualified leads x closing ratio = total sales from the show.
Total sales from the show x average sale = total revenue generated from the show.
Total revenue generated - Total cost of show = Profitable Exhibiting!
I have said it before, and will say it again…it’s all about the details!
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