Two Ways To Use Event Data To Increase Your Revenue Stream
We’ve shared quite a bit over the last year about how to use data to improve the attendee experience at your events, as well as how your exhibitors can use data to get more from investing in your show. Now it’s time to talk money.
There are many strategies and tactics you would love to implement to improve your expos and trade shows, but those strategies and tactics cost money. You have to bring in more revenue to do more. Lucky for you, your expo data can help increase your exhibit income. We want you to go into your renewal meetings with exhibitors armed with data that demonstrates what a great investment your event is for your exhibitors.
Convince Current Exhibitors To Increase Their Space
Imagine sitting down with an exhibitor that consistently books a 20 x 20-foot booth. They are ready to reserve the same space for next year’s event but hang on just a minute. You pull out your data report that shows while their booth saw a steady flow of visitors each day; their booth staff didn’t get an opportunity to talk to all their potential customers.
In fact, they only engaged with forty percent of the buyers who said they were interested in that exhibitor’s products or services. The exhibitor is surprised because every booth staffer was continuously engaged in conversation with a potential buyer.
Now is your chance to talk to that exhibitor about increasing their space to a 20 x 40-foot booth so they can send more staff to talk to more buyers. The additional space would also give them room to set up information kiosks to catch those self-service customers who are looking for information, but do not want to talk to a booth staffer.
Now is also the time to discuss other marketing opportunities the exhibitor can take advantage of at next year’s show and throughout the year to connect with even more buyers.
Convince Exhibitors Who Are On the Fence To Re-sign
Every show organizer has been frustrated by exhibitors who are unsuccessful due to their lack of understanding of trade show marketing. You have done everything you can to funnel buyers to the exhibitor’s booth, but that exhibitor dropped the ball.
The final days of your show is the perfect time to show those exhibitors your data and have a frank conversation about what went wrong. Once they see their ideal buyers were at the show, they might be more open to advice on how to improve on their presence at your show.
Educate them on all the exhibitor training you offer so they can improve their exhibiting skills. Set up a meeting between the exhibitor and your marketing team for consulting on exhibitor marketing best practices.
Point out how they might enhance their booth graphics, improve their pre-show marketing messages, or even how their booth staff could do a better job engaging with buyers.
Once they see that you want them to succeed and are happy to provide them with resources, they will be more inclined to give you that deposit check for next year. Just make sure you stay on top of these exhibitors so they follow thru and take advantage of all that help.
Everyone talks about the importance of data, but having access to real-time analytics is important when conducting booth renewal meetings at the show. Not just access to the data, but having it available in a format that is easy to dissect and understand is crucial.