When attending a trade show as a dealership employee, the focus should shift toward measurable objectives and achieving specific goals that benefit the dealership. One key aspect of this is understanding the difference between ROI (Return on Investment) and ROO (Return on Objective) in the context of your participation.
Reasons to Attend a Trade Show
- Networking Opportunities: Trade shows bring manufacturers, suppliers, and industry experts together. Attending gives you the chance to build and strengthen relationships, identify new business opportunities, and stay updated on the latest market trends.
- Product Knowledge: Trade shows are an excellent opportunity for hands-on experience with new products and services. You can speak directly with manufacturers, ask questions, and even negotiate deals for your dealership.
- Competitive Analysis: By attending, you can observe what your competitors are offering, their marketing strategies, and how they are positioning themselves in the market.
- Brand Visibility: Representing your dealership in person helps to increase brand awareness and create new leads that could turn into business opportunities.
- Training and Education: Many trade shows offer workshops and seminars that provide valuable insights into industry trends, technology advancements, and best practices.
Ways to Determine and Measure Your Objective
- Set Clear Goals Beforehand:
- Networking Goal: Aim to make a specific number of new contacts with key suppliers or manufacturers.
- Product Goal: Identify several products you want to research or new product lines to introduce to your dealership.
- Track Key Performance Indicators (KPIs):
- Leads Generated: Track the number of business cards collected, people you spoke with, and follow-up meetings scheduled.
- Product Information Acquired: Document the new products or services you learned about, especially those that could benefit your dealership.
- Evaluate Post-Event Impact:
- Dealer Promotions: Based on the information you gathered, track the performance of any new products or promotions introduced to the dealership after the show.
- Team Knowledge Growth: Assess how your increased product knowledge translates into better customer service and higher sales.
By focusing on Return on Objective (ROO), you shift the emphasis from just financial returns to achieving specific goals, such as building relationships, gaining insights, and enhancing your dealership’s offerings. Measuring ROO will allow you to gauge whether attending the trade show was a success based on your dealership’s strategic objectives.
UPCOMING SHOWS
PRI – Performance Racing Industries – Indianapolis, IN, December 12-14, 2024 – LEARN MORE
AIMExpo – Las Vegas, NV, February 5-7, 2025 – Dealers Register HERE
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