The exhibition is a marketing tool aimed at promoting and selling of goods and services. When a potential exhibitor decides on the exhibition participation, s/he somehow assesses the effectiveness of this tool comparing it with other alternative sales channels.
The more evidence of exhibition effectiveness the organizer can provide, the more convincing s/he will look, and the more sales s/he will accomplish.
Thus, if an exhibition organizer can:
then he will certainly attract the maximum number of market participants to his event. Note that it will be beneficial for everyone: organizers, exhibitors, and visitors, since a high-quality effective sales channel will be established in fact.
How to make your exhibition effective for all key buyers and sellers of a given market sector is a separate topic for discussion, but the solution to measure current exhibition effectiveness and present it appropriately is given below.
To solve this problem, RussCom IT Systems, exhibition statistics auditor authorized by the Russian Union of Exhibitions and Fairs (RUEF) and accredited by the Global Association of the Exhibition Industry (UFI), suggests conducting the Audit of Visitors Purchasing Power. The methodology for this audit was developed by the company’s team and Russian economic scientists. This audit has been conducted since 2009.
The Audit of Visitors Purchasing Power represents the estimation of sums of contracts signed by the visitors within 3-6 months after the end of the exhibition.
The Audit of Visitors Purchasing Power helps to answer the following questions:
Based on the audit results, the organizer demonstrates the actual quality of the exhibition as a direct marketing channel, since both manufacturers and entrepreneurs are interested in “real” clients and their contracts.
The audit methodology looks as follows:
In 3-6 months after the end of an exhibition, visitors are randomly selected from the electronic visitor registration database. Next in-depth telephone interviews are conducted with each selected visitor.
The number of respondents is regulated by the following international norms:
The key question asked of the respondents is the following: what is the total value of contracts concluded by your company in the result of the exhibition? During the survey the interviewers also receive information on the level of the exhibition satisfaction, on the current market conditions and the challenges that its participants face.
The bottom line of the survey contains the following data:
The results of the Audit of Visitors Purchasing Power provide a picture of the researched market sector and the exhibited product made by its end customers.
The Audit of Visitors Purchasing Power has a status of research recognized by the leading international exhibition institutions. It shows a professional and sensible approach to conducting exhibitions and participating in exhibitions.