Automatic Merchandiser serves the business management, marketing, technology and product information needs of its readers including vending operators, coffee service operators, product brokers, and product and equipment distributors in print.
Issue link: http://automaticmerchandiser.epubxp.com/i/62876
BU SI N E S S B A SI C S BUILDING BLOCKS FOR SMALL- AND MEDIUM-SIZE OPERATIONS Business trade shows: an underused sales tool for vending and OCS fi rms By Tom Britten, Contributing Editor A vending/OCS/foodservice consultant and former operator explains how and why operators should exhibit at business trade shows. eral steps: 1) the initial contact; 2) interest in talking; 3) interest in the service; 4) presenting the proposal; 5) signing the contract. The time to complete this process is rarely under 60 days and often stretches out to six months to a year. What if you could skip steps 1 and 2 and go directly to step 3? It's worth thinking about when you consider that the average business- to-business fi eld sales call costs between $300 and $400. Maybe it's time to think about adding an activ- ity that would allow you to be in front of a prospect without having to engage in a hit-and-miss cold call. Business shows are an avenue for one-on-one communication with numerous potential customers of business services. T 34 he single most important activity in any vending or OCS company is, or should be, gaining new accounts. Unless you replace the inevitable lost accounts with new ones and compensate for declining same store sales, your business will soon be in serious fi nancial trouble. In this industry, the selling pro- cess has painfully long selling cycles. Selling new business is often a waiting game; the key is what you do while you're waiting. In-person sales calls are very expensive, but face-to-face time with new prospects is the only way to sell new accounts. Other marketing activities are help- ful, but face-to-face selling is always needed to sign a new customer. In the traditional sequence of selling new accounts, there are sev- Automatic Merchandiser VendingMarketWatch.com May 2012 Business shows as sales tools One often overlooked sales activity in vending and coffee service is exhibit- ing at business trade shows. Business trade shows are usually organized to represent certain industries, most of which include potential vending and coffee service customers. I am an advocate of exhibiting at business trade shows as a way to get in front of prospective custom- ers. Aside from cold calling, which is expensive, only trade shows can offer you a one-on-one meeting with a potential client. Usually, attendees at business trade shows are decision makers, C ONT INUED ▶