Well I have been absent from brianlinton.com for too long! For those of you who have noticed my absence, I offer my profound apologizes. Now that the bulk of preparation for all of Sand Shack’s upcoming tradeshows is over, you can expect a post every couple of days again. And sorry, no pictures from the tradeshow yet; I’ve misplaced he USB cable for my camera so I can’t put them on my computer yet!
Today’s article is a short reflection on the pros and cons of tradeshows compared to the pros and cons of store-to-store selling.
The hours I spent sitting and waiting for customers to walk by my booth at this past tradeshow in Maryland got me thinking about the value of a tradeshow compared to the value of store-to-store (STS) selling. STS selling has been something I have had a lot of success with in the past. Sand Shack is primarily built on accounts acquired by STS selling, not tradeshows, however, I am still planning on attending 6 more tradeshows before spring 2009. So, if STS selling has been so successful for me, why I am I spending so much time, money, and energy traveling around the country to exhibit my products at tradeshows? In an effort to find the answer to this question, I have prepared the pros and cons of both attending a tradeshow and STS selling.
Tradeshow Pros
Customers come to you
-A good show will attract thousands of potential customers
You have a place to display your products exactly the way you want
-Unlike showing your products in a store, at a tradeshow you have the time and space to display your products in good lighting, on nice displays, etc.
Tradeshow Cons
Expensive (booth, travel, and lodging)
- The expenses of an upcoming tradeshow I am attending in Atlanta are over $6000. This past show expenses was about $1500.
It takes a few years of attending the same show to build a customer base
-As I am relatively new to exhibiting at tradeshows, I have not built up a customer base that goes to the show with plans of stopping by my booth
Store-to-Store Selling Pros
Relatively cheap
-If you are in the area and you feel like stopping in a store to pitch a sale it doesn’t cost you a dime. However, STS selling does cost money when you have to travel a far distance and stay at a hotel.
You set your time and place
-You can either cold call a store and just walk in off the street or try to schedule a meeting at their store with them. Either way, you are not confined to standing around a 10’ by 10’ booth for 4 days.
Store-to-Store Selling Cons
Your potential for sales is directly limited by the number of stores you visit.
-A tradeshow may attract thousands of potential buyers, unless you have a huge sales team you will not be able to visit all the stores that attend the show in a reasonable amount of time.
STS selling is hit or miss
-If you are cold calling stores you may not always be able to find the person in charge of buying. In this case you may have to make multiple trips back to a certain store before you even get in front of the decision maker.
The truth is that a company needs to find a balance between STS selling and attending tradeshows. In order to increase traffic to your booth at a tradeshow, you will probably need to first increase your customer base through STS selling. Customers acquired through STS selling can then be invited to your booth at a tradeshow. For instance, once you have established 100 accounts in a certain area, you can then invite them all to the nearest tradeshow you plan on attending. In those 4 days at the show the majority of your 100 local accounts can come directly to your booth to see and place orders for your new products. In addition to that, you will also probably be able to pick up a few new accounts.
Most buyers go to tradeshows with a good idea of what company they are going to visit and what they are going to buy. Simply exhibiting at a tradeshow does not guarantee windfall sales. Although I have learned this the hard way, I now realize the importance of letting people know who you are and what you are selling before the tradeshow even begins, because once you are at a tradeshow you are surrounded by competitors; it is an environment your voice and product are easily lost in.
