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Idea to Action Quote:
Last weekend I attended a family fair. There were lots of stalls, and I didn't visit half of them. It is only later that I realised what I had missed. Still, I noticed some things I think would be helpful to consider if you are exhibiting for the first time.
One of the less obvious things to think about when pricing your product is coinage. For example, in Kenya, the 50 cents, though legal tender, is hardly used. Many people do not want the little coins, and if you price your product at something and 50 cents either you or your customer will have to give up 50 cents. But it is not only about 50 cents.
Say you price your prodcut at 60 shillings, you will need to have lots of coins to give back 40/- as change to people who want to buy only one of the item, and who do not have exactly 60 shillings. To get around that you might insist that everyone buys 5, which comes to 300 shillings, but I bet you will lose customers very quickly!
If you are at an exhibition, be prepared with a bagful of change, and that's not only coins. People are put off purchasing stuff if you keep saying 'come back for change', because they are afraid they will not remember and so lose their money. Not a story anyone wants to entertain in these days of sugar at over 200 shillings a kilo!
Talking about exhibitions, how will people find you if there is no map or directory?
When you sign up for a trade show or an exhibition, check and see what the organisers are doing to move people around the show. If you cannot get a stall close to the entrance, you need to be sure people know you are there, for a start. Make sure you have a sign, somewhere near the entrance, and at your stall as well. A big visible sign. Otherwise people spend all their money at the first stalls they visit.
And if you are not selling food, check where the organisers have placed the food stalls. Preferrably, away from the entrance, at the far end of the exhibition hall, or square. Since visitors will almost certainly go for food, placing food stalls at the end forces visitors to pass by all the other stalls. This traffic is invaluable if you are to increase chances of making a sale at a show or exhibition. Just have a look at your supermarket next time you shop. The bread is usually tucked away in the back. You have to go past the chocolate and the toys to get there. Woe unto you if you are accompanined by a toddler!
Finally, have a clear purpose for being at the show. Is it to sell off old stock? is it to promote new stock? is it to create awareness of your business? You have little space and making the most efficient use of it counts. Having focus will help you design and stock your stall appropriately.
And thinking about those questions will help you decide if being at the show makes sense for your business.
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