Look at that throng of people crowding the trade show floor. People come from all over the country to walk these aisles, eager eyes flitting from booth to booth, scanning the exhibits for…what, exactly?
Research shows that the vast majority – 76%—come to trade shows to discover what’s new and exciting. Maybe it’s a new product, or an innovative bit of technology, or a snazzy new application, or even an entire company that they were never aware of before. In an ideal world, every company would be constantly innovating, creating cutting edge products at phenomenal savings guaranteed to meet the customer’s needs.
But as you and I know, business doesn’t work that way. There are years when companies struggle to survive. Other years, it takes every ounce of effort just to maintain market position. And still other times, things might be fine, but the newest innovation is six, twelve, even eighteen months on the horizon.
Is it even worth exhibiting during these times? Do the results of participating in a trade show while your company’s in a lull phase justify the costs?
Absolutely! In fact, it is precisely at these times when not participating could hurt your bottom line. Businesses rise and fall based on the strength of personal relationships. There is no better place to form new relationships and maintain and reinforce existing relationships than at a trade show.
To do this, you need to create a positive impression with your exhibit. Demonstrate something new and exciting. Give the people what they want. How can you do that, you ask, when you don’t have any new and exciting products?
Here are five focus strategies the pros use when they’re in a similar situation:
1. Focus on Features: Purveyors of high-tech or complicated products often don’t realize how little consumers know about the items they purchase. For example, take the average word processing program. It has countless features – yet how many does the everyday user know about, much less use? Realize that your buyers may not even know what they don’t know. Here’s an opportunity to offer seminars, tutorials, or other interactive options centered on the more obscure features. This way, you’re demonstrating that you value your customers and want them to make the most of your products/services. You could win their loyalty for life.
2. Focus on the Future: If the next big innovation is in sight, but you’re not ready to spill the beans just yet, you’ve got an ideal opportunity to create a buzz. Some of the most effective excitement generating campaigns say little, if anything, about the new product, yet still create an impression that something noteworthy is about to happen. Signage, graphics, and literature all declaring “It’s Coming!” let the public know that you’re excited about the new product – and that they should be too.
3. Focus on Finesse: Is there a way to make your product new and improved? You’ll sometimes see this technique that I’ve called the Proctor & Gamble strategy. Every so often, you’ll see a new and improved version of a product introduced – laundry soap, shampoo, deodorant, and so on – yet you’d have to be a chemical engineer to notice any discernable difference between the old product and the new one. Still, consumers flock to the new, even if it’s only slightly different than the product they were previously satisfied with. If you can’t change your product, what about the packaging? Glidden changed their paint can while still keeping their actual product, the paint, the same as it ever was, and saw sales rise as a result.
4. Focus on People: Great products wouldn’t exist without great people. Consider putting a human face on your operation by centering your latest exhibit around the people who make, test, or use your product. Post Cereal, Reynold’s Wrap, and NAPA auto parts have all used this strategy successfully during periods when their product line was fairly static – and then carried the idea forward, altering it as needed to introduce new products!
5. Focus on Service: Many times, we’re asking buyers to make a huge investment to buy our products. If something goes wrong, the buyer worries that they will be left holding the bag on a very expensive mistake. Reassure consumers that they’ll never be alone if there is a problem. By promoting service plans, support networks, and other types of assistance, you’re demonstrating that you’ll be there for your customer – through thick or thin!
About The Author
Written by Susan A. Friedmann, CSP, The Tradeshow Coach, Lake Placid, NY, author: “Meeting & Event Planning for Dummies,” working with companies to improve their meeting and event success through coaching, consulting and tradeshow training. For a free copy of “10 Common Mistakes Exhibitors Make”, e-mail: article4@thetradeshowcoach.com; website: http://www.tradeshow-training.com.
June 2nd, 2006
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If you have even a passing interest in the topic of Affiliate, then you should take a look at the following information. This enlightening article presents some of the latest news on the subject of Affiliate.
Affiliate Marketing: Why is it One of the Most Cost-Effective Ways to Advertise your Business
When you think about Affiliate, what do you think of first? Which aspects of Affiliate are important, which are essential, and which ones can you take or leave? You be the judge.
Read the rest of this article here.
June 2nd, 2006
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There’s a saying in the newspaper business: Advertising is expensive—but editorial is priceless! This simple phrase speaks to the fact that readers trust and value any information they read in an article or column far more than any data they glean from an advertisement. Even when the facts presented in an article and an advertisement are identical, the results are the same. Positive editorial coverage is worth its weight in gold.
Yet many exhibitors don’t know how to work effectively with the media. I hear it all the time – from both sides of the aisle. Exhibitors wring their hands in despair when not a single word about their new products show up in the trade publications – and reporters get irritated, frustrated, and downright disgusted with those exhibitors who seem to go out of their way to make getting a good story possible. It’s a no-win situation – but it doesn’t have to be!
Here are ten do’s and don’ts about working with the media at a trade show. Remember, the press is not your enemy! Reporters have a job to do, and nine times out of ten, it’s in your best interest to help them do it. You both win – they get good copy for their story, and you get editorial coverage.
Do: Do your homework before the event. Develop several newsworthy angles that showcase your message. Emphasize timely information, such as industry trends, statistics, new technology or products, do-it-yourself tips, techniques or strategies, and useful advice. Human interest stories are great because they allow writers to put a ‘face’ on what could be a dry nuts and bolts story.
Don’t: Decide what story the reporter is going to write before they even get to the show. Sure, you might have all these great human interest angles or wonderful quotes, but if the reporter is trying to put together a succinct, ‘just-the-facts-Ma’am’ story, that’s just extra noise the writer doesn’t want or need. Listen to what the reporter is asking for, and provide that.
Do: Build a working relationship with the press. Get to know the editors and writers. Volunteer to be a resource for them. Reporters keep ‘source lists’—people who are informative, friendly, and quotable. That’s where they turn first when they need to write a story on a particular topic. You want to be on that source list.
Don’t: Snub the little guy. Just because someone is writing for the Omaha Chamber of Commerce today doesn’t mean they won’t be editing the most prestigious trade journal tomorrow. Professionals move in the media with amazing speed and regularity – but they take their memories with them. Burn a reporter when they’re nobody, and they’re going to remember when they’re somebody!
Do: Have a good press kit. Include interesting and timely information; a one-page company bio sheet – corporate structure, executive staff chart, sales figures; complete product information – specs, distribution methods, pricing; good product photos or links to on-line FTP sites where photos can be found; key contacts. Everything must be accurate and verifiable. Unique packaging is good if you’re unknown, otherwise, don’t bother.
Don’t: Pad your press kit with tons of ‘fluff’. Short and to the point is much better. Avoid gimmicks, head shots of your CEO, outdated, false, or exaggerated information. Misleading statistics can be the kiss of death – give context for all numbers. Standard sized folders or smaller is best, as these easily fit into bags and briefcases.
Do: Make every effort to spread the word. Coordinate with show organizers at any media events they host, and make sure that plenty of your press kits are available in the media room. Post all relevant information on line, so information can be accessed after the event. Hold press conferences when appropriate.
Don’t: Hold a press conference ‘just because’. Press conferences are specifically for major announcements, new product introductions, but only if they are truly new or improved, or general industry trends – what’s hot and what’s not. If you host a poorly organized event when nothing newsworthy is shared, you’ve just irritated a whole room full of reporters. Not a good idea.
Do: Keep your promises. If you schedule an interview, be available and on time. If you arrange to have materials sent to a reporter, make sure they’re actually sent. Promised photos should be as described. Reporters work tight time frames, so when you fail to deliver what they’re expecting, they don’t have time to come back looking. They’ll move onto another, more accommodating source.
Don’t: Assume that the reporter knows everything about your industry, especially if they are from a general interest publication. Provide background data, give real-world examples, and avoid industry specific jargon. Spell out acronyms at least once, and explain the relevance of any awards, certifications, or honors you may be discussing.
About The Author
Written by Susan A. Friedmann,CSP, The Tradeshow Coach, Lake Placid, NY, author: “Meeting & Event Planning for Dummies,” working with companies to improve their meeting and event success through coaching, consulting and tradeshow training. For a free copy of “10 Common Mistakes Exhibitors Make”, e-mail: article4@thetradeshowcoach.com; website: http://www.tradeshow-training.com
June 2nd, 2006
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Unfortunately bad credit can haunt you for the rest of your life. If there are bankruptcies or foreclosures on your credit report, you know how hard it is to get any line of credit. Lenders and creditors simply look to as a too big of risk to loan money to.
But we know that even though mistakes were made in the past, your financial situation and behavior can be reformed. Some lenders understand this as well, and the sub prime lending market has grown and become very competitive. The lending market can be broken up into two main segments, the prime, those with average to good credit who are not huge financial risks. Then there is the sub prime market, with those who have poor to very bad or no credit.
Lenders can give ratings to a certain sub prime client giving them a rating from A-D: A being the best rating and D being the worst. When you fall into the C or D category, you are considered very high risk and more likely to default on a loan than that of a person with an A or B rating.
Sub prime lenders generally give loans to even the highest of risk cases. They look at the same information that a prime lender would look at to evaluate the type mortgage you can have. They look at credit history, income, expenses and long term debt. If you do have foreclosures, bankruptcies, delinquent payments, and outstanding debt, they will take all of this into consideration. If you can show steady employment, a good income, an effort to pay back the money you owe and are doing it in a timely fashion, you are more likely to get a better rate than that of someone who is not taking any steps to fix their credit.
Sub prime lenders can loan the money you need by protecting themselves. They do this through higher rates and fees that prime lenders would not charge. Be careful, because some sub prime lenders will take advantage of your poor credit history and charge a ridiculous amount in fees and charge you a too high of interest rate even for a poor credit case.
Fortunately for the consumer, this sub prime market is extremely competitive and you do not have to accept the first lender who offers to loan you money. You actually have the luxury to shop around and compare rates, even for the worst of credit cases! So check online for tools that can aid you in finding and comparing sub prime lenders. The internet is a good place to start your research. You can also ask for referrals from family, friends and even local bank.
Don’t allow credit mistakes in the past to dictate how you live your life today. Buying a home is still an option regardless of your credit history. And, as long as the sub prime market continues to be competitive, you, the consumer is at a huge advantage.
It is always a good idea to take steps to repair your credit, and buying a home can aid in this. If you make you mortgage payments on time every month, then you can watch your credit grow! Sub prime lenders specialize in this area, so allow them you help you make your credit score even better! Be sure the sub prime lender you use is trustworthy and qualified. There are sharks in the industry, so be sure to ask for referrals and look at licenses.
So go buy your home and repair your credit at the same time! Take advantage of the opportunities you have at your fingertips.
About The Author
John R Blakefield is a mortgage and real estate specialist. For more information, articles, news, tools and valuable resources on home mortgages or investment loans, refinancing, debt solutions, visit this site: http://www.scourtheweb.com/mortgage/.
June 2nd, 2006
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