Should vendors have booth models? I VOTE YES!!
But, how does a vendor measure the ROI of a booth model?
I have an answer! Wanna hear it?..Here it is!!
First, figure out your total cost for each booth model’s attendance. Room, food, transportation, hairspray, makeup, etc.
Find out the total number of registered NADA dealer attendees for 2008. Each dealer attendees would be compared as an impression, like a banner ad on a website.
Every time your booth model makes eye contact, speaks or flirts with a dealer and gets them to approach the booth, this could be compared as a click on your banner ad. Evey time a booth model swipes a dealers pass card or T.O.’s over to a sales agent, this would be considered a lead conversion or the BMCR or "booth model conversion ratio".
Divide the total number of leads each booth model has acquired by the total cost of her attendance and this will give you the CPLPBM or "Cost per lead per booth model".
From here, you want to track your leads to signed contracts. Next, take your yearly net profit from each signed contract and subtract the total cost associated with each booth model.
There you have it!
This simple calculation will give you an exact ROI for each of your booth models.
Now of course this doesn’t take into account the long term effect of a highly effective booth model. Example: Last year I almost fell in love with the stunning Andrea over at the vAuto booth and this year I was not going to miss the opportunity to get a photo with her. She’s HOT!! Case in point for the long term effect here; I remembered Andrea from last year (though didn’t catch her name) and made sure I stopped by the vAuto booth this year just to see Andrea. And of course ended up sitting through a demo for vAuto.
With that being said..your booth model is "like" a landing page. The more effective the landing page the better your lead conversion. The better looking and friendly your booth model, again the better your chances of a lead conversion.
Be sure your booth model has all the right elements for conversion and you can be guaranteed a successful return from your exhibit in NADA!
Andrea, if you read this..I know there was a connection between us during the short moment we had together, but I’m sorry, I just don’t think it’s going to work out between us. The long distance, one sided relationships are just too difficult, I’m sorry 🙁