Case Study: Other Ways to Measure Success
By Gary Tufel -- Tradeshow Week, 4/25/2005
Lately, tradeshow organizers have been obsessed with finding ways to measure their success. So, how do consumer shows do it? And what does a successful consumer show look like?
It depends. Michael Fisher, executive director of the Natl. Assn. of Consumer Shows, defines large public shows as 50,000 gross square feet or more, and said good profit margins are anywhere between 20 and 30 percent.
Patrick Buchen, president and CEO of consumer show producer Adjuvant Expos, said he considers a large show a hit if it has at least $1 million in gross sales, and a profit of 27 to 29 percent.
However, dmg world media said it puts a higher priority on exhibitor retention than on profits. Paul Schweitzer, dmg vice president of business development, said 75 percent or more of consumer show exhibiting companies should ideally return for the next show. The company also surveys attendees and considers a satisfaction level of 80 percent or better a sure sign of success.
One show provides a case study in success according to all these metrics, said Jeff Haughton, president and CEO of Industrial Expositions. That show is the Annual Indianapolis Boat, Sport & Travel Show, produced by Renfro Productions & Management.
In its 51st year, the show has maxed out the Indiana State Fairgrounds, with 700 exhibitors filling more than 650,000 net sq. ft. Feb. 18–27. Said company President Kevin Renfro, "We can't get much bigger and we're happy with that."
The show features gear for outdoor sports, interactive games, travel and tourism, RVs and boats, as well as sessions, attractions and contests on these topics. Renfro believes the key to the show's success is sticking to its theme.
Dave Hummel, operations director for the Indiana State Fairgrounds, said the show has become a tradition for families in the region. He attended the show as a boy with his father, and now takes his own children.
Renfro Productions is a family business. Renfro's father began producing consumer shows in the 1950s and acquired the Boat, Sport & Travel Show in 1963. Kevin now runs it and five other shows with his two brothers.
Revenue is one measure of success, Renfro said, but customer satisfaction is the other. Renfro surveys participants each year and uses targeted marketing to make sure the right audience turns out. His exhibitor retention rate is 80 to 85 percent.
