3 Ways to Overcome the Price Objection On the Trade Show Floor

“Our products cost so much more than our competitors. How in the world do we convince attendees to check us out, when everyone’s so focused on the bottom line?”

The question could come from any industry, and it’s becoming increasingly common as a tightening economy makes buyers more price-conscious. However, the company that lives by price also dies by price. Savvy exhibitors know that to appeal in this type of market, it’s critical to highlight aspects of their products and services that are more important than money.

The three most pivotal factors are:

1. Speed

Can you be, as Seth Godin puts it, overwhelming faster than the alternatives?  The speed with which your organization can fill orders, deliver product, and take care of customers is a critical differentiating factor.  Customers are starved for time: no matter what industry you’re in, turnaround times are shorter than they’ve ever been.  You can stand out from the crowd by being the fastest.

2. Spirit

Genuine enthusiasm and conviction that your products and services are the absolute best choice for the customer are powerful selling tools, especially in the face-to-face environment of the tradeshow.  If you can concisely and articulately convey why your products are worth more, without apologizing, price becomes a non-issue.

3. Style

There are trends in everything: in the B2B world, in manufacturing, in retail.  Can your organization position itself as the trendy choice?  Buyers are influenced by what their colleagues and peers think: no one wants to choose a loser.  Consider what you can do to secure a position as the ‘obvious’ right choice, or even better, ‘the best’ company to buy from.  Then, once again, price becomes a secondary consideration.

Share

Good News on the (Trade Show) Marketing Budget: Trends for 2010 – Part 2

What’s ahead for trade shows and other marketing efforts in 2010?

Last week, I referred you to the StrongMail “2010 Marketing Trends” survey which polled more than 1,000 business leaders across a wide range of industries about their marketing plans for the upcoming year. This week I’ll continue reviewing the trends.

Trend: Everybody is jumping on the social media bandwagon. A whopping 59% of surveyed companies will be increasing their social-media budgets. How many will be spending less? A mere 3%.

Social media has become the new essential tool for marketing.

3 things this means to you:

1.  Choose the right social networks. Twitter covers almost every audience. Facebook and Myspace pages work best for products with consumer appeal. LinkedIn groups are most appropriate for BtoB marketing.

2. Stay on message. The speed and flexibility of social media can be a huge advantage, but it can also be a pitfall. Set clear guidelines for all communications, and review the messages and results regularly.

3. Use social media to support trade show exhibits. Twitter, Facebook, and LinkedIn can allow you to increase the effectiveness of your trade show appearances. You’ll reap great benefits when you integrate social media into your overall marketing strategy.

“Twitter: Best Practices and Tips”
If you’ve felt like tweeting for quite some time now, but didn’t know where to start, this guide is for you.

Share

Good News on the (Trade Show) Marketing Budget  – Trends 2010 – Part 1

In November the StrongMail “2010 Marketing Trends” survey polled more than  1,000 business leaders across a wide range of industries about their marketing plans for the upcoming year. For the next few weeks, we’ll be discussing those trends and giving you tips to make them work for you and your company.
Trend: For almost everyone, marketing budgets (particularly tradeshow budgets) should hold steady or increase. At 48%, more companies will be boosting their budgets than just keeping them the same (41%). A mere 11% of executives said they were allocating less money for marketing. With the economy on the upswing, marketing efforts can make a huge difference now.

What this means to you:
•    Spend smarter, not harder. Make the most of the budget you have by careful targeting. Invest in the trade shows that are likely to give you the best return.
•    Make new friends, but keep the old. In terms of profit, an established customer is worth from five to seven times what a new customer is worth. Send your current customers special invitations to come to your booth. Show them how much you appreciate their loyalty.
•    Out of sight doesn’t have to be out of mind. Maintain the connections you make at trade shows with targeted emails, Twitter, LinkedIn, and other social media.

Share