Trade Show Display Marketing Tips and Advice
A discount can help accelerate a slow-moving deal, create goodwill, and give you leverage for requesting concessions. But you’ll only reap these benefits by discounting strategically -- not whenever your prospect asks for one.Read More
Traditionally, the “marketing funnel” has been a guide for marketers to move their prospects along a continuum from awareness to consideration to preference to purchase and finally to brand loyalty. According to Forrester Research, the funnel is obsolete and the Customer Life Cycle that applies to today’s consumer is more like a circle of “continuous optimization,” which flows back and forth from discovering to exploring to buying to engaging with a brand.Read More
On average, how many of your deals end in “no decision”? According to CSO Insight’s’ 2016 survey of 675 companies, 23.8% of forecast deals wind up in this category. There are several potential reasons for this outcome. First, an internal event beyond your control occurred at the prospect’s company: Your point of contact left her job, the company changed direction, there was an unexpected budget problem, and so on. Second, you didn’t create enough urgency. The prospect has a legitimate challenge, but you didn’t reveal the immediate and significant costs of inaction. Third, the prospect wasn’t a good fit. Your product didn’t answer all of their needs or add significant value to their life. Fourth, the prospect never intended to buy in the first place. Some prospects talk to salespeople knowing they’re not ready or in the right position to sign off on a purchase.
From their first conversation to the close, a strong salesperson consistently asks her prospect for small closes. Getting incremental commitments from the buyer trains them to say “yes” and indicates how invested they are in the relationship. These closes also accelerate the deal, since they help you hit significant milestones more quickly. I’ve found waiting until the last stages of the sales process to make a request can significantly damage your chances of winning the deal. There are two obstacles stopping reps from using the incremental closing technique.Read More
One of my greatest marketing secrets, I learned from my father. When I was 12 years old I worked for my father on Saturdays in his retail store. The challenge he faced was having a number of small and inexpensive items of various types left unsalable. There weren’t enough of any one product to have a dedicated sale and discarding all of these items would have affected his bottom line. What he did was randomly package five or six of these items into a small paper bag. Then he taped all the bags closed and placed them all in a bin. On the top of the bin he created a hand-made sign which read, “Surprise Bags - $ 1.00. He sold them all in one weekend.Read More
In order to sell someone, you first have to get them to take a meeting with you. And as salespeople know, this is far easier said than done. Reps make countless calls each day, hoping and praying that one of their prospects will pick up the phone. Finally, someone does -- and what do they say? "I'm too busy for this.", "Can you just send some information?", "Is this a sales call?" *Click.* You probably didn't even get the chance to pull out your attention-grabbing statistic or perfectly phrased value proposition before the call ended. Back to square one.Read More
Even though he lived 400 years ago, it turns out the Bard of Avon has quite a bit of good advice for exhibit marketers. Earlier this summer, I had the opportunity to see an original copy of Shakespeare’s First Folio, on loan to my local library as part of a nationwide tour, and it got me started thinking … Now even though I was an English major, I haven’t read all of his plays so I don’t know them word-for-word. But one part of the exhibit that really stood out to me was a display of many lines from his work that are now part of our everyday language. It turns out that he penned some universal truths that still apply today … even when it comes to exhibiting.Read More