UNDERSTANDING YOUR CUSTOMER’S TRADE SHOW MINDSET
- docalmendarez
- Jan 10
- 5 min read
Ideally, you are starting to understand that trade shows provide a unique setting for achieving substantial sales. In this blog, we will explore the main reason for this: the mindset of your customers when they attend the show.
Experienced sales professionals understand that the sales process often resembles an uphill battle, particularly in its early stages. This challenge arises from the necessity to not only identify a qualified prospect but also to capture their attention, redirect them from their current engagements (or vendors), and address their natural resistance to change—even when such changes have the potential to simplify their operations and enhance their business strength.
The dynamics on the trade show floor are transformative. Why is this the case? Customers arrive with a readiness to purchase. They travel to a new city, immersed in unfamiliar surroundings, with the express purpose of discovering and experiencing new concepts. Essentially, they are removed from their daily routines and placed in an environment designed to enhance their receptiveness. It is crucial not to underestimate this phenomenon; there are few instances in life where potential buyers anticipate and welcome sales interactions with such eagerness.
This concept is not new, and exhibitors have leveraged it for decades. This is partly why modern trade shows often resemble circuses as much as they do industry events. Organizers recognize that attendees are more open and uninhibited, prompting efforts to cultivate that mindset. Energetic music, eye-catching displays, and attractive models showcasing new prototypes all contribute to this atmosphere. They create a sense of momentum that naturally enhances sales. Buyers are enthusiastic, surrounded by others sharing the same excitement. No one wants to be the only one leaving without a signed order for the latest gadgets and technologies. At trade shows, observers transform into buyers; you simply need to provide them with a compelling reason to sign.
The desire to "keep up" can exert a greater influence than many sales professionals realize. From our vantage point, it often appears that we are making every effort to further engage prospects in the sales process. On the other hand, prospects often respond by pulling back. Nonetheless, these dynamics can sometimes be reversed in specific scenarios commonly encountered at trade shows.
The initial scenario arises when you have a product that is entirely innovative or unmatched by competitors. In essence, some products are so novel, revolutionary, or inventive that they create their own demand. Typically, your product development team will notify you in advance if your company intends to launch a groundbreaking new product at the trade show. If this occurs, you may be surprised by the number of potential customers who will approach you and nearly complete the transaction independently. Although this is uncommon, it is truly remarkable when it does happen.
The second factor that can attract customers to your business is the competitive spirit. Just as you need to be aware of other companies presenting at the trade show, so do your potential buyers. Over time, they will observe many of their peers and competitors exploring different products and upgrades. In essence, they will notice the companies they compete against making efforts to enhance their capabilities. They will not want to be left behind, and this motivation can drive them to act more swiftly than they might have otherwise.
It is crucial to position yourself and your company as highly desirable. Ensure that you communicate to your prospects the excitement surrounding your work and the various ways your products and services can help them remain competitive and profitable in the future.
Buyers may not commit solely based on the actions of others; however, if they perceive a risk of being left behind, they will be keen to understand the source of the enthusiasm.
Ultimately, the allure of trade shows extends beyond the introduction of new product lines and ideas—it is the inherent excitement that captivates. Buyers journey from all over the nation, and even internationally, to participate; for many, this may be their only venture outside a rural setting for an extended period. It is important to recognize that nearly every sale is influenced by emotion. Trade shows accelerate the sales process by fostering an environment where attendees are already emotionally invested in their purchasing decisions. This generates its own momentum, ensuring the event progresses more efficiently.
Numerous studies have corroborated this reality. For instance, a survey conducted by Exhibitor Magazine revealed that over 75% of companies considered trade shows to be the optimal opportunity to explore new products, with a considerable number intending to make purchasing decisions during the event. Notably, several attendees who initially had no intention of buying ultimately made purchases. Trade shows serve as an outstanding platform for sales because they foster an environment where customers are inclined to make purchases. By aligning with their mindset and amplifying their enthusiasm, you will be strategically positioned to secure a substantial number of new orders.
Pullout: Trade Show Discounts
Beyond the various reasons individuals attend trade shows with the intention to purchase, there is an additional factor worth noting: the potential for substantial discounts.
Several factors contribute to this situation, one of which is habit. Experienced trade show attendees understand that these events were historically the prime opportunity to obtain special pricing on nearly any product; exhibitor booths were traditionally the preferred destination for those seeking the lowest possible deals. Furthermore, ineffective sales strategies have led customers to consistently anticipate and demand discounts, irrespective of the circumstances. Consequently, it is not unexpected if your competitors are presenting lower quotes to your potential clients.
This suggests that you should expect potential customers to make considerable efforts to negotiate lower prices. There are two key points to keep in mind: be prepared and maintain effective sales techniques. First, consult with your sales manager or department director regarding the best approach to managing discounts. They likely have a strategy in place and can provide guidance on the company's level of flexibility.
Adhere to the fundamental principle: address price concerns by emphasizing value. If prospects are engaging with you, it signifies their interest in purchasing. When they request discounts, they are essentially expressing a willingness to buy but are attempting to negotiate a lower price. Generally, they will proceed with the purchase regardless of the cost. Therefore, concentrate on underscoring the long-term benefits of buying from you, rather than focusing on a small immediate discount.
Certainly, exceptions to this guidance may exist. Your company might opt to offer special trade show pricing to stimulate new business prior to departure. Alternatively, you may provide substantial discounts on discontinued product lines or floor models that would otherwise require return to a warehouse. In these cases, trade shows can be beneficial for bargain hunters, many of whom may wait until the final hours of the event to reach out to you.
When addressing a customer's request for a discount, exercise the same level of caution as in any other business situation. Although it can be challenging to decline such requests and potentially jeopardize a commission, maintaining low profit margins can adversely affect your business in the long run. Remember that your company may be investing substantial amounts, possibly hundreds of thousands or even millions of dollars, in the trade show exhibition. It is important not to compromise your profit margin simply because a discount is requested.
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