Trade shows can be a powerful platform for businesses to showcase their products, engage with potential clients, and gain market visibility.
However, not all trade shows are created equal, and deciding which ones to attend can be a daunting task. This is where a structured and objective trade show scoring system becomes invaluable.
Let’s dive into the details on how a scoring model can help your business evaluate the need to participate in trade shows and determine the level of marketing and sales support necessary for success.
The Importance of a Trade Show Scoring System
Investing time, money, and resources in trade shows can yield substantial returns if done strategically. A well-defined scoring system allows businesses to evaluate each trade show on a set of criteria to ensure that decisions are made based on data rather than intuition.
This method not only streamlines the decision-making process but also helps you allocate resources appropriately by categorizing trade shows into different priority tiers. And — bonus — it gives you the rationale you need when team members question which shows are on the agenda (and which aren’t).
Defining the Scoring Criteria
The scoring system is key to help you make the right decision when determining whether a show is important to your company. Start by making a list of the factors you currently use to evaluate a show. It’s OK if it’s not very established. Write down the criteria you use to determine whether a show is important, such as audience alignment, strategic goals, ROI potential, and networking/media relations opportunities. Then go back through your list with a more critical eye. What are the things on the list that are truly defined and can be backed by data, leaving no room for subjectivity or question? Keep anything that fits that criteria and then do another assessment to see what’s missing. Are show logistics accounted for? What about the presence of competitors and the role that plays in your brand’s participation? You may also consider consulting with your sales team to get their perspective on the factors that make a show important.
Ideally, you’ll winnow your list to 10 or fewer criteria. Add some definition to each of those criteria with a statement that is clear, concise, and can be easily scored. For example: “Participating in this trade show is critical for meeting our strategic business goals.” Or, “This trade show has historically offered very high ROI from our participation.” Making the statement straightforward removes any gray area around what it means.
Your final step is to come up with a scoring system that allows you to go through each criteria statement and score it. You will need to test the scoring system to establish values that truly work, because that in turn will translate to tiers. If the score is below a certain threshold, you don’t participate in the show. Those scores then determine what marketing support each should receive using the established tiers.
The Three Tiers of Trade Show Participation
Based on the total scores, trade shows are categorized into three tiers — each dictating the level of marketing support. Here’s an example of what that could look like:
Tier 1: Highest Priority
Sponsorship: Full sponsorship is recommended.
Strategy: A comprehensive show plan with a detailed timeline is developed.
Content: This includes a well-thought-out content plan, messaging strategy, and any specific show offers. A performance measurement plan will be essential to track and evaluate success.
Tier 2: Medium Priority
Sponsorship: Consider sponsorship based on the specific context.
Strategy: A show plan is created, but with fewer resources allocated compared to Tier 1.
Content: Alignment on offers and a performance measurement plan are still important, though the content strategy may be less intensive than Tier 1.
Tier 3: Lowest Priority
Sponsorship: Sponsorship is not recommended.
Strategy: A basic show plan is developed that focuses on essential elements.
Content: There is minimal content development, with alignment on offers and basic performance measurement.
Benefits of the Scoring System
Implementing this scoring system has several key benefits, including:
Objective Decision-Making: By using a standardized set of criteria, you can make more objective decisions about trade show participation and reduce the risk of biases influencing the process.
Efficient Resource Allocation: The scoring system ensures that resources are allocated in proportion to the expected return on investment, which helps to maximize the impact of trade show participation.
Strategic Alignment: By linking trade show participation to business and marketing objectives, the scoring system reflects how each show may contribute to the broader strategic goals of your company.
Enhanced Performance Tracking: With clear KPIs and performance metrics, you can accurately assess the success of your participation in each trade show, leading to continuous improvement in future events.
The Basis for Successful Trade Show Planning
In a competitive business environment, participating in the right trade shows can make a significant difference in brand visibility, lead generation, and overall business success. By implementing a structured trade show scoring system, you can make informed decisions, optimize marketing efforts, and achieve the best possible return on investment.
Whether you’re planning for a high-priority, Tier 1 event or a more modest Tier 3 show, this approach provides a clear, strategic framework to guide your trade show planning. By integrating this scoring model into your trade show strategy, you’ll be better equipped to navigate the complex landscape of trade shows and make sure that each event you participate in is aligned with your company’s goals and delivers measurable results.
Looking for more trade show tips? Check out our insight on the value of PR at trade shows, or reach out to us today.