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Fighting The Fear

Written by: Susan Friedmann

Article Overview: Exhibiting in economically turbulent times... the first thing to do is to assess and understand what the changing marketplace actually means to your industry

Fighting The Fear

Exhibiting in economically turbulent times is problematic. Yet the challenge may not lie exactly where you think it does.

It's not the falling Dow Jones that's the problem. It's not the S&P, nor the price of oil. It's not even the constant reiteration that we're headed into the Great Depression II.

No. The problem instead lies in the resultant consumer confidence crisis. People -- both on an organizational and individual level -- are afraid to buy. The constant bad news has created a perfect storm of economic turmoil, leaving people frozen in place, uncertain what to do.

How do we, as exhibitors, address that fear?

The first thing to do is to assess and understand what the changing marketplace actually means to your industry. Not all sectors are hit equally by an economic downturn, and it is never safe to assume that what is happening to your organization is representative of what is happening in the market as a whole.

Before determining an exhibiting strategy, it is a wise step to take an objective look at your industry, as well as the markets for organizations that purchase your products and services. A consumer confidence crisis means one thing in the high end apparel market, for example, that it may not mean in a health care or financial services market.

Throughout this assessment, consider the following:

What are the biggest challenges and concerns my target market is facing?

What are the biggest challenges and concerns the customers of my target market face?

If you want to be an effective exhibitor, one route to success is to articulate your understanding of both sets of challenges and present concrete examples of how your products and services can help attendees address them.

There is a time for soft, suggestive selling: that time is NOT in the middle of a consumer confidence crisis. This is instead the point where savvy exhibitors adopt a leadership role, positioning themselves as the expert within a marketplace, the go-to resource who can provide more than product: you're offering guidance, stability, and the assurance that the tough times will pass and that they can be survived, by smart, strategic decision making.

Obviously, every company will approach this challenge differently. Variations will depend on industry, sector, and your previous marketing messages: it is very difficult to suddenly shift gears and radically alter your marketing message. However, the companies that survive and thrive in tough times are the companies that adapt quickly and nimbly to changing circumstances.

With that in mind, there are three universal concepts that should prove useful to every exhibitor:

1. Highlight the Benefits

Make it very clear how the attendee will benefit from doing business with you: increased sales, greater efficiency, enhanced productivity. Make the value you offer a key part of your marketing message.

When your booth staffers engage with an attendee, they need to be actively listening. This enables them to both better understand the attendee's situation and needs, but also to identify key points where your organizations' products and services are likely to be of value.

2. Demonstrate Commitment

Uncertain economic times create anxiety in buyers. They hesitate to commit to any organization, particularly newer ones, because they do not know that a month, six months, a year from now, that company will be there. This is a particularly pressing concern when issues of technical support, upkeep, maintenance and installations are involved. Most companies don't want to buy a two million dollar machine only to discover that when it breaks, there's no one available to fix it!

Let buyers know you're in it for the long haul -- that they can count on you to be there after the show. If your company has been around for a while, let attendees know that. Sometimes the idea of a company with a long history is seen as boring -- but in uncertain times, that stability is appealing.

Use your marketing message to reinforce the concept that you're going to be there for the duration. Focus on the ongoing relationship aspect. Articulate how you keep in touch with your customers, the mechanics of providing support, and what kind of working arrangements you develop with your clientele.

3. Guarantee, guarantee, guarantee

Buyers are insecure. Make them feel better by promising to stand behind your products and services -- and fix it when there's a problem! This is a simple and often overlooked aspect of marketing: the way your company performs when everything doesn't go exactly as planned is often far more important than how it does when everything's great.

Mention your guarantees and organizational promise in your sales materials, on signage, and especially when appropriate during conversations with your prospects. Your would be clients want to know that you're going to take care of them.

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Article Tags: apparel market, changing marketplace, concrete examples, confidence crisis, consumer confidence, dow jones, economic downturn, economic turmoil, exhibitor, exhibitors, falling dow, great depression, leadership role, objective look, perfect storm, price of oil, reiteration, suggestive selling, target market, turbulent times



Related Forum Posts
Re: Fear of Success - You don't need to fear success. We should embrace it. Fear is define by a man of God as False Evidence Appearing Real. the meaning is what we fear most does'nt come to pass
Other Great Books... - Feel The Fear And Do It AnyWay - Susan Jeffers How To Stop Worrying And Do It Anyway - Dale Carnegie ('What's the worst that could happen - the worst?' Then prepare yourself for that and reality is such a relief!).
Re: What I'm reading this weekend - Oct 8, 2010 - these are great! In particular, I liked "you’re already perfect" and "Smashing through the Black Wall of Fear." That's exciting that there is a new 4-hour book out. I really enjoyed "The 4 hour Workweek."
Re: Franchises in Texas... - [quote="RussellWebb":1kwhwvtt]Hi GT - I'm just fed up with the hand wringing fear-mongers. Yes, let's all do our share to reduce our impact on the global warming issues, yet at the same time we need to hear both sides of the story... then make educated decisions.[/quote:1kwhwvtt] Hi Russell, But don't you think society would fall apart without "fear" acting as a control? Fear is what keeps people in check (e.g. if you commit a crime you go to jail or even get shot by the authorities in some countries).
Re: Burn all your bridges inorder to succeed?? - [quote="BuzzAroundBooks":x11o039o] Some people are very self motivated, while others are lazy and need to create a sense of urgency to get themselves moving toward their goal. For instance, I was just watching a television interview on a mixed martial arts fighter who admitted to being lazy and burned all of his bridges in order to succeed. He sold all of his possessions, got in his car and left his family and friends behind to pursue his dream until he eventually made it into the UFC (Ultimate Fighting Championships). When you have literally nothing to go home to, it can drive a person to do great things. At times, burning all of your bridges is what it takes since "bonds" between you and others can actually be a distraction.[/quote:x11o039o] As my fraternity brothers and I said in college, "there is nothing that motivates us so much as the imminence of failure." For my personal fitness I definitely have to burn bridges; I need to be left alone for months in order to reach my fitness goals.


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