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Selecting the Right Goal and Objectives

With Barry Siskind. Selecting the Right Goal and Objectives. Agenda. Set clear, measurable objectives Identify the audience Determine your metric Create your performance indicators Find the right measurement tools Develop your benchmarks Make sure the exercise is realistic.

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Selecting the Right Goal and Objectives

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  1. With • Barry Siskind Selecting the Right Goal and Objectives

  2. Agenda Set clear, measurable objectives Identify the audience Determine your metric Create your performance indicators Find the right measurement tools Develop your benchmarks Make sure the exercise is realistic

  3. What is your goal? Step 1 What are you hoping to achieve? Step 2 What will justify the time, energy and resources? Define your market

  4. The generations?

  5. Changing Attitudes Towards Exhibitions Baby Boomers Meetings & dialogue Career driven Loyal to brands Want to leave a legacy Competitive

  6. Gen Y Source: The Center for Exhibition Research – CEIR.org

  7. Step 3 - Quantify Quantified objectives set standards that can be measured. Quantifiable objectives can be checked periodically. Quantifiable objectives can be divided among your exhibit staff.

  8. Examples - Sales My objective at ExpoSystems is to find 25 senior managers of companies that organize trade shows in Brazil with a minimum of 100 booths and are currently not tied by a long-term contract to one of our competitors.

  9. Sales ObjectivesMetrics and Performance Indicators

  10. Examples - Communication My objective at ExpoSystems is to introduce 50 people to the benefits of choosing us as their preferred supplier. I will introduce three key benefits of our company to senior decision makers who have expressed an interest in change. My objective at ExpoSystems is to add 75 new names to our data base. These names should include people who influence the ultimate decision to purchase and should be either exhibitors at trade shows or organizers.

  11. Communication ObjectivesMetrics and Performance Indicators

  12. Performance Indicator • Measurement Tool (s) • Benchmark • Potential Applications • Example #1 • Cost per potential show visitor from defined target market • Example #2 • Level of awareness • Target Audience Profile from show organizer + Event Budget • Exit Survey – change in perception • $100,000 budget divided by 50,000 target audience = $2.00 per potential audience reach • % of respondents who mention one or more of the core messages • Use as a Show Selection Tool or to establish a Budget e.g. priority shows are those where the cost per potential market is below $2.00 • Review visibility / type of messages and how communicated to improve response rate

  13. Benchmarks Set realistic goals for ExpoSystems 2013 Measure staff performance Assess the impact of change Compare ExpoSystems against other shows Judge the impact of pre-show promotion Justify future exhibition marketing budgets Other

  14. MAKE OBJECTIVES REALISTICDO THE MATH a. TOTAL FAIR POPULATION = 2,500 b. PERCENTAGE WHO FIT THE PROFILE = 10% OR 250 PROSPECTS c. AIF - 16% = 40 d. AVERAGE TIME SPENT WITH EACH ATTENDEE = 15 MINUTES or 4 per hour e. NUMBER OF ACTIVE FAIR HOURS Dec 4 - 6– 2:00 P.M. – 9:00 P.M. daily = 21 NUMBER OF REALISTIC LEADS = d x e = 84 Deduct 50% 42

  15. Calculate R.O.I. a) Leads = 42 b) Total exhibit cost (net) = $12,000 c) Success ratio = ⅓ d) Viable leads a/c = 14 e) Average sale (net) = $ 10,000 f) Potential revenue d x e = $ 140,000 g) Less cost of sale of 60% = $ 56,000 h) Return on Investment b/g = 560%

  16. The steps Set clear, measurable objectives Identify the audience Determine your metric Create your performance indicators Find the right measurement tools Develop your benchmarks Make sure the exercise is realistic

  17. Available at bookstores everywhere or contactBarry@siskindtraining.com Join our conversation at www.ufi.org/blog. And follow us on twitter: www.twitter.com/ufilive

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