In many industries, the analysis of the Return On Investment would be the perfect and only indicator of whether or not the budget spent was indeed effective. As we know, trade shows can be a different beast. It isn’t quite as easy to ascertain if the large deal closed by your sales rep six months post show was linked to your trade show efforts, at least not always. While providing ROI metrics is important, those results can often take time, especially if your business carries a long sales cycle, But that doesn’t mean you can’t provide measurable, immediate proof of a successful event, and that of course, is where Return On Objectives (ROO) comes into play.
ROO is a great tool that allows for immediate measurement of exhibit impact. It creates opportunities to make alterations on the fly. If something isn’t working as well as it should, you’re able to see that right away and make necessary changes to be more effective. Common objectives like increasing awareness, tracking product demos and successfully launching a new product, become fun, creative endeavors.
Some of our ROO successes that one of our clients enjoyed with a significant product launch were: increased social media engagement; an increase in exhibit tours; and higher journalistic interaction. Being rated as the number one booth experience was a goal that we knew would lead to bigger sales, and one that we accomplished, but we needed the smaller goals and success metrics to make that happen. By implementing ROO strategies, and working to achieve those objectives, we were able to notably increase potential revenue in our client’s sales funnel, leading to greater ROI.
If you would like to hear more, please join TPG’s Christina Piedlow, Owner and Executive Director, and Jean Howard, Director of Business Development, along with our client, Sean Roach, at ExhibitorLive! on Monday, February 26 at 10:00 AM for a deep dive on this integrated program and how shifting focus to ROO contributed to our client’s success. Hope to see you there!
Please read this related article about how combining ROI and ROO, creating the content and planning the logistics of the launch at the American Association for Clinical Chemistry (AACC) trade show for Siemens Healthineers was one of the highlights of 2017 for TPG. Siemens’ Strategy of Secrecy