Getting the green light to attend the next big trade show depends on your ability to demonstrate a solid ROI for your company. This process doesn’t have to be rocket science. In fact, using your past trade show costs and a little innovation, these figures are a snap to come up with.
Analyze and Predict Trade Show Costs and ROI in Minutes
One of the first things we recommend is to ditch the cumbersome receipt files and spreadsheets, and get on board with innovative digital platforms that will track this information for you. Eventrio offers apps that provide analytics, spending and receiving data, and other metrics, allowing you to present real-time figures, numbers, and predictions with a simple tap of your finger.
In the meantime, you will need to begin with the basics:
- Figure out your space costs. On average, exhibit space rental is going to be about one-third of your total event costs. This only requires a quick calculation to come up with a ballpark figure for your total trade show budget. Go back through your records and figure out average space costs for the past three trade shows. Multiply this space cost average by three and you will have a decent ballpark figure for your total trade show cost estimate.
- Come up with a cost-per-square-foot figure. Take a look at the total costs for all of the trade shows you participated in last year. If you had a 20×20 booth (400 square feet), you will divide your total costs by 400 to come up with a per square foot cost. Once you have these cost-per-square-foot figures for each show, average them. Once you’ve determined the total square footage of your future booth, you can multiply that number by the average cost-per-square-foot to make a reasonable future cost prediction
- Determine your cost-per-lead. If you know how much you spend per lead at a typical trade show, multiply that figure by the anticipated number of attendees you expect to attract to your exhibit. Otherwise, you can use the industry standard of $189 per exhibit attendee, and $276 per lead you engage in conversation, to estimate your total exhibit costs.
Make this the last time you spend energy performing old school calculations to determine trade show costs and ROI. Instead, let technology do the work for you. Contact Eventrio to learn more about industry-reforming innovations that make time-consuming calculations history.