While not as effective as PR and media advertising, field sales and promotions are essential in establishing corporate identity, keeping up with market trends, and forging long-term relationships with clients. However, a lot of small and startup businesses struggle with the high costs of field sales work. Often, the sales hardly balance out the costs per customer.
Regional industrial trade shows are an increasingly popular alternative to field sales because they are more cost-effective and direct you to your intended market. This makes them ideal for small and startup businesses, who need to establish a stable client base but cannot afford aggressive or mainstream advertising just yet.
Some of the benefits of using trade shows as a promotional tool include:
- Highly targeted audience. Trade shows have a well-selected and qualified audience, usually consisting of government agencies, businesses, and major buyers. They’re not open to the general public, so you are assured that each customer is genuinely interested in your product.
- Competitive market. Trade shows are also highly competitive – your product will be exhibited alongside major manufacturers, wholesalers, and distributors. You’ll have to work harder to gain an advantage over other sellers, but in the process, you’ll also learn where you stand in the market and what you can do to increase your standing.
- Low cost per customer. According to an article published in the Journal of Small Business Management, a company spends about $179 in sales calls per customer, and when field salespeople are employed, the whole transaction costs them about $910. In regional trade shows, the average cost is reduced to $70 per customer and $210 for the entire transaction.
Preparing a trade show marketing plan
To make this strategy work for you, you have to carefully integrate your marketing plan into the trade show. This involves three steps: pre-show planning, at-the-show performance and post-show follow-up.
- Pre-show planning. Before planning the trade show, set specific goals and steps towards achieving them. Common goals include generating leads, introducing a new product, and getting distributors. Next, you’ll have to choose the type of space you want for your exhibit. Study the floor plan of the trade show and try to place your exhibit as close as possible to the main traffic area. Also consider access to utilities like entrances and exits, restrooms, and fire exits. Stay away from areas with poor lighting, dead ends, and utility fixtures.
- At-the-Show Performance. A visually stunning booth may draw in clients, but it’s not enough to make them remember you. Promotional items such as mugs, shirts, hats and pens can go a long way in establishing your corporate identity. You can also place one or more public computers where attendees can browse your web site.
- Post-show follow-up. After the show, go over your sales and returns – how many leads you got, how much you spent, and whether there was a significant return on your investment. This will help you determine your strengths and weaknesses, and know what to work on in your next promotional projects.
Conclusion
Used correctly, field sales and promotions can help you establish a solid corporate identity, keep up with market trends, and build lasting, mutually-beneficial relationships with your customers. Most start-ups will benefit from this time-tested tactic, which even large companies still employ.