Taking Your Product Based Business to a Vendor Event Will...
--Increase Your Sales
--Put You In Front of Hundreds of Potential Customers
--Get Product & Brand Visibility
--More Cost Effective Than Traditional Marketing
--Turns a Few $$$ a Day Into Hundreds!
Product Based Business
To
Vendor Events
The 4 "P's" To Success
Stop begging your friends and family or cold-calling
strangers!
Turn a few customers a Day into Hundreds!
PLAN--
Do your homework. Who is your ideal customer? What
do they want to buy? When are people shopping? Where
will I find the most customers? Make a Plan. Make the
calls, get the info.
Then consider the cost of booth or space to the profit
potential. Ask Promoters about past traffic & sales
potential.
PROCESS--
Check Vendor Event groups on Facebook Groups,
Google, Local Chambers of Commerce, or Events Online
for cities and towns you are interested in. Most require a deposit that is non-refundable if you
cancel, or it rains, so be careful.
After you learn the
ropes, it's easier to find the best events or trade shows
that fit your business and market. Do your research
online to the fullest before you decide on the right
show.
Also check out Craft Fairs, County Fairs, Flea
Markets, etc depending on your product.
Once your approved, and deposit is paid, you are well
on your way to a NEW VENTURE WORTH LOTS OF $$$.
PRETTY--
Now is the fun part!. Decide your brand colors. If you
have an online store, all the better because you will
keep the branding the same as your website.
Decide on inventory. What items will you be
selling?...Some Vendors limit what you can sell, so
make sure before putting any money down.
Make a
list of necessary items you are selling, as well as a
packing list for booth fixtures too. The space for an
event is usually 10X10 feet, so keep this in mind when
planning you inventory and layout.
Also consider when planning your space, is the decorative
elements you want to add. Curtains, backdrops (some
events require this) Tool for draping, music, lights,
displays etc. The better you design your experience, the
more customers you will attract.
Make sure there is a hidden place to hide storage tubs
and boxes, etc. Maybe under a table, behind a curtain, or
have help taking them back to your car. You don't want
these laying around cluttering up your tiny space.
Speaking of an experience, Music, candles ( if allowed) is a
good idea to create a relaxed shopping environment. It
draws women into your booth!
Draping & Table Displays are a must, I think, so think of a
creative pretty way to display your products. For Jewelry,
use a Neck Bodice Display (as pictured below). For
Clothing or Boutique Items, use a small rack, placed
where it has easy access and traffic flow. Pegboards, and
Lattice panels are also a cute way to display items with
hooks.
Tables should be strategically placed near the front &
center of your space, with you BEST PRODUCTS WITHIN
EASY VIEW!
PROFIT--
This is the most important part of your plan, so take your
time, and set your goals. Pricing your inventory needs to
be the first thing on your list. Prices depend largely on
your product, but can be adjusted depending on your
event, and your end consumer.
The rule of thumb in most retail selling is to add up all
your COSTS, the money you have already invested in the
product, then add 20%. If you want to factor in the cost of
the event and supplies for it, you might think about
increasing your profit margin.
My personal rule is..
If my Products cost $10-$20 dollars, and the event was
$100 to register, PLUS gas, lodging etc..I might make my
profit margin up to 30%. So the price of my Products
increase to $20-$30 dollars. Math is not my strong suit,
but this easy rule will help too.
Think the RULE OF THIRDS.
1/3 is your original cost of product
1/3 to replace the product without any additional
purchase
1/3 Pure Profit
If you stick to this RULE. A $10 Product should be $30 to
cover inventory replacement on it's own, so you don't
have to eat into your profit margin.
The second key to this step is ADVERTISING. The more
your social media followers know where you are, the
more they will come. Facebook friends are usually the
most local. Put out a post a few days before, telling
them where, and re-post it again the day before, and
the morning of. You can even create a Facebook Event
on your Business Page, and Invite them Personally. This
works well.
Also important to growing your business and profit is
having a way to capture E-mail addresses.
Whether it's a
Basket Drawing, A Product Give-a-way, or just a Sign-Up
Form on your table. FREEBIES work better for this than
just a Sign-Up Form. Use this info to market to your
customers in the future.
Also a good ideas is to put a Business Card in every bag
with purchase, so they know your website, and social
media to follow.
EXTRA TIPS--
Selling Face-To-Face is always a more personal
experience than online! People love the connection, and
sometimes instant friendship you make by actually
meeting the persona you are doing business with, and
seeing their customer service firsthand. It makes all the
difference.
Take lots of pictures, and even make videos, if you can,
to use for Social Media and Marketing. Bring a friend or
Spouse, or even your tech savvy kids to help with this
part, so you can concentrate on your customers.
Now, more than ever, since we have all had to Stay-at-Home for the last few months, PEOPLE ARE WANTING
TO SHOP! They are wanting to go places, and see
people, and spend money!
BE WHERE THEY ARE!
PROVIDE THE BEST
EXPERIENCE YOU CAN.
BE TRUSTWORTHY & TRUE,
AND YOU WILL GO FAR!
I Hope you take this PLAN and use it to make BIG PROFIT. But most of all, HAVE FUN!
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