An important part of event preparation is making sure you’re using the right metrics and resources to determine whether or not your event has been successful.
Whilst there are lots of metrics beyond revenue generated, it is of course, the big one. So these three steps are focused on assisting you to calculate this metric.
Determining Trade Show Revenue
1) Track the lead from the source – This is key and now very achievable by using tablet data capture apps. The key is ensuring your sales team are on board and all leads are captured through one traceable source. A good app will ensure that your sales people are more efficient at the event and crucially assist them close business. Naturally, we recommend Akkroo’s offline data capture app.
2) Powering your CRM – Once you have captured your leads you need to ensure the data is mapped correctly into your CRM. Ensure you transfer the show name (or some way of attributing back to the event) alongside the contact information. All good data capture apps will export as an Excel or CSV which can then be uploaded into your CRM, or if you want to be a little more advanced and automated, you can integrate the app with your CRM, so the data will automatically feed from the source into your CRM contact database.
3) Reporting & Analysis – Because the lead has been tracked at source you will be able to identify sales very easily. Depending on your sales cycle then putting together your reports should be done at a relevant time for you. Reviewing your CRM and pulling reports at 3, 6 and 12 months works for most products and services. However it’s also worth tracking beyond 12 months for those sales that take longer; perhaps where you meet the company or individual at many events before a sale. Now your tracking from source you will be able to identify these touch points throughout the sales cycle.