You are here:Home/Podcasts/Episode 1 – Networking and Trade Shows B2B
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And the reason… The reason that I wanted to go over that was because if you’re gonna be great at something, you might as well go all in, because there’s really no more effort to go all in, then they just go, happen. And at this show, I saw probably about 500 vendors total walking around and products, big capital equipment products, 300000 products, all the way down to some really inexpensive trinkets, more CBD type stuff. And for me, I look at that even that is an opportunity for people to do great by their company, but at the end of the day, if you’re not willing to put in the effort and you’re not willing to prospect properly, you’re not gonna be prepared.
So in this episode of the prospecting, sure, I just wanna go over a couple of tips on things that I think are super important to help prepare for a trade show that would apply to any in-person meeting you’re doing if there’s multiple potential clients there, multiple people who are interested in doing business with it doesn’t really matter, but at the end of the day, it’s what you do to maximize your time when you’re going to invent.
So a few things, first of all, know your audience, you gotta look up the people that are gonna be at this event and make sure you know them so that you can interact with them before you get there.
So what we do, for example, we focus a lot of our time making business-to-business relationships or LinkedIn, email, phone calls, text messages, and coping prior to the event, and lower gonna ask What is goofing, not everybody’s in the ad space, so just kinda lay that down basically, what we end up doing is we say, Okay, well, this event is taking place to specific location, let’s run our ads, but our product or service or everything in between directly to that event with a very small radius, so that people who walk into the building on their phones only are gonna be served an ad that is about our product or servants, and that’s a very cost-effective way to do it. If you wanna get into the advertising space for now, you gotta spend 20 to 500 a month minimum, especially if you have a product, because the ROI just does not have to do… Spend huge budgets.
So if you’re a company just starting out, don’t have 5000 on at to spend on ads, spend your time, go fencing the events you’re are yet you could spend 200 bucks a day for three or four days while you’re there and get way better ROI than if you were to try and run at a 30, 50, 700, 200 a day, third days, I don’t not… So that’s the first thing. The second thing is you gotta know that audience well, when you walk into the trade show, if you haven’t already made connections with people you have already lost, you might as well pack in, so what you do is you go out and prospect, get the list from the vendor, the vendor sheet, which will tell you all the people are gonna be there and look at syndicate partnership opportunities, there are so many companies out there that are willing to buy what you have and partner with you to help sell to another group.
So for example, you might have a product that fulfills one sub-niche in that group, and you might be across the booth from someone else who has another subject, but there’s absolutely no reason you too could not partner together to either how the value add from one product to the next or be able to increase the product price by combine them together, a lot of people think when you combine two products together, you got a lower the price… That is not true, Patel. There are lots of products, lots of research around combining two products being more expensive because it’s one-stop shopping, and you are creating efficiency for your customers, so that’s not a thing at Syndication, if you can’t syndicate a deal, at least broker deal or wholesaler del being that if you have a product specifically and you’re looking for other groups to work with and you don’t wanna do a one-to-one sale, go out there and sell your CBD product, for example, one chiropractor or your CBD product to a consumer. For example, you would go out there and you’d syndicate that deal into a warehouse and system, a distribution system or a wholesale is no.
So you can focus on doing deals that are between one and 5000 stay by focusing on your 30-500 deals, so us doing the same amount of work, the same sales process and kind of roughly at the same kind of sales pitch you’re just doing to the right person is… And to spend more money, but that’s another way you can match part… The last thing that I like to do is make sure that you ask a lot of questions from other people that are there, if you speak first and you speak the most in any conversation, you will not be a good… And the reason that is because a customer doesn’t feel like they control the conversation, and in that particular case, they’re going to put up those barriers and not allow you to sell them, and that’s something that’s a little more complicated to do than just to say… But if you practice letting a customer finish their whole sentence, tell them, tell you what they’re looking for, and you sit back and really listen to what they have to say, you will be so much better at selling something than if you are to just ram it down their throats to start.
And Grand cordon on said, he said, If you can’t be a good… A frequent… And if you can’t be great, big, free, and really all that boils down to is the first time you do something and you have this pivot shift in your mind about how you sell things… It’s not gonna be easy, you’re not gonna sit there and say, Okay, well, I’m trying this new technique for selling our product or our service when we have a new product and we’re gonna try it out there, you’re not gonna kill it on the first five pitches, so instead of worrying about getting 80% close rate, accept your 20 to 30% close rate and 10X or move up all of those prospecting opportunities, so when you go to a trade show process in it of that crowd ahead of time.
So you have 100 conversations when you’re there, because it’s a lot easier to increase number of conversations you’re having than it is to increase your closer show, if you’re averaging your close ratio over thousands and thousands of deals that the likelihood of you going from 20% to 80% is basically nothing, but what you can do is you can prospect more people, have more phone calls, more business opportunities and more syndication opportunities, and maybe you’re willing to go out there and do those steps. I promise you, you will find a way to do that.
Now, the next part of that whole process is, what do you do once the show’s done, so we’ve talked about before the show, how to prospect a little bit there, a little bit of vote, Giovanni, meeting and doing partnerships and syndication at the actual member. What do you do after the events… So to preface that a little bit more, the number one thing you need to do before the after event is you need to get all the contact details, do not leave the event assuming that they’re gonna have your information, make sure you get their information from whoever you’re working with is could be a prospect, this could be a physician, a clinician, it could be somebody just a consumer sale, doesn’t really matter what it is, but get their contact information and give them your contact information, do not rely on you just giving them your business card, and then to follow up with you, take down their information, get their business card and verify its, set an appointment for the following We… When you are gonna sit down, lock down that appointment and make sure that you have a great conversation with them, cause there’s nothing worse than spending money on marketing, trade shows, all your travel, your flag, your food, and your hotels racking up 500 to 7000 and cost, and then not falling up in our program and a lot of our business prospecting that we do, the number one thing that we can determine will lead to success is the follow-up, if you are good at sales, you will do really well with prospecting and having a system that helps your consent.
If you are not gonna follow up and you are already not gonna close it, having more leads is not gonna help you, and actually probably I rained.
So the way you fix that as you first get frequent, then you get good, and then you practice the close again to increase that ratio, so that looks like talking to 10 times number of people working on improving your pitch in talking to more of those people who would figure model, and then at the end of that, going back and figuring out, is this new pitch helping us grow the business?
And the way you do that as you follow up with every single lead from the trade show or the event that you have, you call every single one of them, you email them, you get on a zoom, you talk about business opportunities, and you always put it in their shoes for… And you say, Listen, thank you so much for taking his phone call. What can I do for you?
If you’re asking them what they can do for you, you have already lost that battle because at the end of the day, the only reason people buy on-call stuff is because they have a problem, they want a solution.
If you’re going in there and saying, You have a solution and you’re trying to figure out what their problem is, you’ve already lost and you need to go and they’re knowing what their problem is and say, listen and remember how we talked before… Well, here’s the solution, here’s why you should do that, if you are taking an approach pretty much any what other way, where you’re not positioning your USP or your value around the problem set that they’ve already brought up, you are gonna lose all the time.
So you gotta go into those phone calls, into those meetings, understanding what each specific client’s problem is, so that you can solve that on the spot, and if you are not willing to do that, then you should not be in sales, you should go and do marketing or maybe some other component of business operations, you need to focus on what’s gonna help your customer… All sales is, is taking some type of problem that is just in the marketplace, figuring out and confirming that multiple people have that problem and creating a solution around it, if you have a product you created without a problem in mind, so you just came up with an idea, you really have to consider as somebody else, not on this idea because it sucks, so that… Do you have a really good idea? But you don’t know how to sell it.
In the other case, I think it’s very worthwhile to go out there and test the marketplace, get frequent, get good, then test your concepts and do it in a way that you can get face-to-face with people and actually close it.
And face-to-face could be a Zoom session, it could be actually face-to-face in person at an event, or you can even push it and kind of stretch out a little bit, go for phone calls at the end of the day, if your product means to be touched and felt used, you’re definitely gonna be to get in front of people, but if that’s not the case and you have a service, for example, people have to know like and trust you. And the only way they’re gonna know like, trust you, is by getting on the phone, talk with you, seeing you on Zoom, or having some kind of… Conversation that’s really focused around, how can you solve their problem?
And if you focus on in that process on educating them about why you have a solution to their problem or why they should address their problems, you will be a lot better off and you will find that your ratio to closing is God on… Your ratio is gonna be much higher in the clothes, but also the duration it takes to get to that closet gonna be a lot short, and that’s just what makes sense, if you’re gonna do deal after deal after deal, you might as well compress the sales cycle and make it easier on your prospect and yourselves, so just as a recap here, know your audience before you go to an event, make sure that you do some type of target marketing there, know what your investment is, make sure you’re gonna go for an ROI, but don’t spend your time trying to get the ROI, spend your time on solving the patient or doctor or client or whatever it is, consumers problem, and you will get the ROI if you go in there just looking at numbers, you will lose every time as well. So go in there, know your audience, pitch you to them, and then ask them to, what is it that you like best about what you just heard worked, have you heard enough to make a decision if you’re asking those types of questions, you’re gonna have people who are gonna give you the kind of responses that you want, if you’re not asking those questions, you’re gonna sit there with a huge pipeline, lots prospecting opportunity, hopefully, and then really no closes, so at the end of the day, you gotta open that pipeline, soldier customer what they need, the very solution-oriented.
I can enjoy it every day.
Thanks a lot for listening.
Hope you have a great… So I
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