Posts Tagged ‘Mal Davies’
How To Attend A Trade Show and Make Every Minute Count
Thursday, December 27th, 2007
How exciting! Your first trade show! This makes all the time, effort and money worth it! Right? Wrong!
Don’t be caught up in the excitement of attending your first trade show. Do your homework first, have a plan, and then attend with confidence that you will meet your goals. If you don’t have a plan, you may waste money AND opportunities! It’s imperative that you attend a show with pre-determined goals and a strategy to achieve those goals. Otherwise, you might find out that your competition placed an order with an important vendor (that you missed!)
Keep in mind a few simple steps to achieve success.
Set Goals:
Determine the purpose of attendance. Why are you attending the trade show? Are you looking for new sources or new suppliers? Are you looking for "potential" new suppliers? Are you attending the show to get new ideas and inspiration for your product/service that you already sell? Are you looking for new ways to display your product, or more innovative ways to sell and distribute your product? Most businesses that attend trade shows have a combination of goals in mind. Just ensure that once you have decided on your goals, that you prioritize them.
For example, you are a clothing store and you are attending the show to find new suppliers for jeans. That is your number one priority. Your second goal is to source out new, but cost-effective, packaging ideas. Last but not least, your business is looking for new and fun window display ideas. (Obviously, there are no "windows" at the trade show, but there are plenty of innovative "booths" which can and will inspire you.)
Make a Plan:
Request a map of the floor layout from your trade show contact ahead of time, as well as a "catalogue." Read the list of companies (that will be attending the show) and high-light each company that may have product that will interest you. You will need to read the entire list thoroughly. If you are looking for suppliers of "jeans," look under clothing distributors, denim manufacturers, jeans’ apparel, etc., to ensure that all the suppliers are covered. If a supplier looks particularly interesting to you, call ahead and request more information or request an appointment at the show. (Some trade shows allow pre-appointments; some do not.)
Once you have determined which suppliers are a "must-see," high-light their location on the floor layout. You might want to "colour-coordinate" the plan. That is, first priorities are in green high-lighter, second priorities are set in yellow, and the booths that you hope to visit (if you have time at the end of the day) are coloured in red. Now, map out a route to visit each supplier.
In addition to your map of the floor layout, you will want to list the companies/booths that you wish to visit on a separate sheet, so that you can check as completed, for easy perusal later.
TIP: The time, the money, and the effort in attending a trade show are valuable. If the trade show is a three-day event, attend all three days. You will have time to attend the "new market area," and you can organize your schedule to include any of the available seminars. Attend the seminars - they are free and informative!
Bring Business Cards and Copies of References:
One of the most important aspects of a trade show are the number of contacts that you will acquire. Keep plenty of business cards on hand to give out freely, and in turn, request business cards and pick up plenty of brochures and catalogues of any vendors that are of interest, for future reference.
Keep in mind that when you do find product that you wish to order, the vendor or agent will request both a completed purchase form, and bank information and references. Prepare ahead! Create and complete an application form; list the pertinent information, and distribute when necessary. It cuts down on filling out forms, and reflects on your organizational skills! You can complete purchase orders ahead, also. Just bring multiple copies of both forms.
TIP: Prepare a list of three references and contacts. Use references that reflect favorably to your business - good terms, prompt payments, etc.
Bring Lunch and Wear Comfortable Shoes:
Most trade shows are held in convention halls or arenas and are vast in size. Lunch and snacks are offered at a number of cafeterias and kiosks that are located throughout the arena. From experience, I usually have found that the line-ups are long, and one can easily spend an hour or more just waiting to buy a sandwich. Also, tables are at a minimum. Why not plan ahead? Ask your hotel’s restaurant to make you a brown bag lunch and to add a couple of pieces of fruit. You will be able to save time at the show when you stop for a short break to eat lunch. An added bonus - save money!
Wear comfortable shoes - for obvious reasons!
Take Breaks to Re-Assess Your Plan:
Throughout the day, stop and take a break. Re-assess your plan. Take note of the vendors that you still must see. Allot your time. Be ruthless! If you are running out of time, re-prioritize your list. Ask yourself, which booth is a top priority? Who can I contact by telephone at a later date? Is a vendor visiting from another country? If so, is this a lost opportunity, if I don’t visit their booth today?
Keep Eyes Open and Mind Alert:
One of the most important aspects of a trade show will be your introduction to new trends and new ideas! You arrive at the show, get your bearings, and start walking down the aisles from one end to the other. (You have prepared a "map" of "must-see" booths, and you will follow the order of the plan.) As you walk through the show, you should be mindful of the displays, the signage, and the "buzz" that one booth might generate over another. If a booth has created a "buzz," stop and take note. Is it a new product? New trend? New display? Find out!
Have Fun:
Trade shows are informative, practical, time-saving, and FUN! Once you have attended a couple of shows, you will look forward to them. Trade shows are great places to gain information, to become aware of the latest trends, and to meet new friends.
Just remember one thing - plan ahead for success and make every minute count!
Tags: advice, Mal Davies, Product Sourcing, source, sourcing products, tips, Trade Shows
Posted in News & Articles | No Comments »
Customers Aren’t Asking for the Moon!
Friday, November 23rd, 2007
Customer retention is a hot topic. There are a plethora of books and articles on that very subject. Both big and small businesses spend millions on customer acquisition programs and customer retention programs, as competition is significant. Often marketing strategies are geared to the preferred customer, as are customer data-management systems. It is not unusual for businesses to profile the "average" customer and customize their systems accordingly to enhance the customer’s experience.
There is no doubt that all of this is important. But, have we lost sight of the "basics" of customer service? Are customers’ expectations that high? No doubt the customer of today is more consumer-educated, more consumer-savvy, and, yes, more demanding. But, does the customer expect the "moon" during every transaction? I suspect that the customer would be satisfied if only his basic needs were met…that he was able to purchase the item at a fair price, in a timely manner. If the avalanche of consumer complaints is any indication, perhaps the very "basics" of retailing have not been met.
I submit that the customer only has six "wants" or expectations:
1. Treat the customer with respect and consideration.
2. Knowledgeable staff.
3. The product is available.
4. The product is available at a fair price that reflects true value.
5. Efficient sales transaction.
6. Privacy and security.
If the business is e-commerce, the customer’s expectations are similar:
1. Website is easy to navigate and loaded with good information.
2. The product or service is available.
3. The product or service is available at a fair price that reflects true value.
4. Efficient sales transaction.
5. Secure payment.
6. Privacy secure.
Six "wants." Six "expectations." Are they unreasonable demands? Is the customer "shooting for the moon?" Sometimes, businesses are too preoccupied with customer data-management systems, that the "basics" of customer service are forgotten.
The next time your business convenes for another meeting on customer acquisition or customer retention, why not consider this: The customer is not asking for the moon; the customer simply expects the "basics" in customer service. Instead of "profiling" the customer, instead of "analyzing" the customer - just meet the expectations of the customer. Simply, give him want he wants!
Tags: advice, customer service, Generating More Sales, Mal Davies, Sales, tips
Posted in News & Articles | No Comments »
7 Product Sourcing Tips for E-Merchants
Monday, July 9th, 2007
For e-commerce start-ups the realities of product sourcing often come as a shock to the system. With so many online "wholesalers" to choose from these days, it’s common to assume that the process will be easy. If your store is to be profitable, however, your sourcing methods will require just a little more effort and creativity than you think.
1. Search clever.
Avoid using general terms when sourcing products online. Googling "wholesale widgets" may bring up a huge number of results, but you’re unlikely to find a worthwhile supplier among them. Most will be non specialist companies that act as middlemen between you and the real wholesalers. This means profit margins on their goods will be virtually non-existent.
Instead, try qualifying your searches with terms such as "distributor", "manufacturer", "designer" or "trade" and rather than searching for generic terms such as "widgets," try taking a more specific approach. Use individual product names and model type wherever possible.
Image searches will also give you more focused results. Many products are sold online using stock photos created by the original manufacturer and this can be an excellent way of tracking them down.
These tactics will improve your chances of success; but don’t despair if you don’t find what you’re looking for. Google is a great research tool but it’s only one of many in your arsenal. Resist the temptation to spend hours and hours surfing the net looking for "secret" deals and sources that do not exist. Traditional retailers have never relied on the internet to find suppliers and neither should you.
2. Consult traditional business directories.
It’s amazing how often resources such as the white/yellow pages are overlooked these days. It must be because we automatically assume the internet to be a superior source of information. Well this isn’t always the case. There are a lot of wholesalers out there that don’t have an online presence, but that doesn’t mean they don’t have telephone numbers.
3.Subscribe to trade publications
Trade magazines related to your niche will be packed with ads from relevant manufacturers and distributors. It’s how offline businesses have done things for years and you should too.
4.Trade fairs.
Attending trade fairs takes more effort than surfing in your pajamas but the pay-off can be enormous. They provide unparalleled scope for sourcing and networking. Plus, establishing personal contact with suppliers makes it a lot easier to negotiate prices further down the line.
5.Ask an expert.
Find someone who already stocks what you want to sell and ask them where they got it. This isn’t as absurd as it may sound! Obviously emailing a rival online store is never going to work because nobody wants to knowingly help out their competition; but a more personal approach conducted in the offline world can yield excellent results. Find a "widget" store and get talking to the owner, preferably once you have made a purchase. People love talking about their businesses and if you are suitably charming they will often recommend a supplier or trade magazine.
You’ll be surprised at how helpful people can be when you don’t represent a threat. This tactic has worked well for me in the past - the worst thing that can happen is they refuse.
6.Contact the manufacturer.
If you can’t find a supplier but you know which company makes the product, give them a call and ask who their distributors are. Again, there is a tendency for new e-merchants to see this kind of information as somehow privileged or secret and they often approach such conversations with trepidation. Remember that these companies want your business. Just because you don’t have a traditional bricks and mortar establishment doesn’t mean your money is no good.
7.Check product packaging.
This is a fool proof method. If you don’t know the manufacturer of a particular product and all else fails, buy it yourself. All goods, virtually without exception, will include some reference to the manufacturer on the packaging. In some cases the name of a supplier will be there as well.
Once you know the manufacturer, the information you require is just a phone call away!
Matt Davies runs an online gift store selling Regalos originales
Article Source: EzineArticles.com
Tags: E-Commerce and E-Business, e-merchants, ezinearticles.com, Mal Davies, Product Sourcing, source, tips
Posted in News & Articles | No Comments »